Affin Bank Berhad | Annual Report 2020

2. Focus areas on Corporate Governance The Board had in 2020 directed its focus on the core duties of the Board which is grounded on the creation of long-term value for stakeholders. Corporate Governance areas which gained heightened attention from the Board during the financial year ended 31 December 2020 are as follows:- Board Composition The present size and composition of the Board are optimum to provide for a diversity of views, facilitate effective decision making, and appropriate balance of executive, independent and non-independent directors. The present Board has the appropriate combination of experience and expertise in banking and finance, accountancy, risk management strategic management and information technology. The Board/GBNRC took note on the need to strengthen and crafted effective succession planning for the Board and have a ‘live’ source for potential Board candidates with accountancy, IT, legal or risk management background, from the industry’s talent pool, available databases on female Directors and the Group Directors’ existing networks. The current composition of the Board fairly represents the ownership structure of the Bank, with appropriate representations of minority interests through the Independent Non-Executive Directors. The Independent Directors fulfill a pivotal role in providing unbiased and independent views, advice and judgement, taking into account the interest of the Bank as well as shareholders, employees, customers and communities in which the Bank conducts its business. The Independent Directors who are of high calibre and possess wealth of experience ensure that there are robust discussions during the Board or Board Committee meetings. They exercise strong independent judgement and do not shy away from asking hard and uncomfortable questions during deliberations and willing to challenge Management at all times. The profile of each Director is set out on pages 28 to 37 of this Annual Report. Sustainability Report The Bank has established a sustainability report in accordance with the Sustainability Guide issued by Bursa Malaysia and other guidance in identifying, evaluating and managing Economic, Environmental and Social (ESS) risks and opportunity of the Bank. The Board views that the sustainability report is significant as stakeholders which include investors, customers, employees, suppliers, NGOs, local communities, etc. are now more aware of the impact that businesses have on the economy, environment and society. Voting in absentia/Remote Shareholders Participation at General Meetings The Bank had conducted its first fully virtual Annual General Meeting (AGM) on 27 July 2020 in view of the Covid-19 outbreak and the Government’s directive on Movement Control Order (MCO). Shareholders participated and voted at the said AGM via e-platform provided by the share registrar of the Bank. The Bank will continue to leverage on technology and improve the process of virtual general meetings to enhance shareholders experience. 198 CORPORATE GOVERNANCE OVERVIEW STATEMENT ORGANISATION EXECUTIVE SUMMARY CORPORATE GOVERNANCE FINANCIAL STATEMENTS OTHER INFORMATION