Corporate Governance

Statement on Corporate Governance

The Board of Directors (“Board”) of Carimin Petroleum Berhad (“the Company”) is pleased to present this statement to provide shareholders and investors with an overview of the corporate governance practices of the Company during the financial year ended 30 June 2022 (“FYE 2022”). The statement is also presented in compliance with Paragraph 15.25(2) of the Main Market Listing Requirements (“Listing Requirements”) of Bursa Malaysia Securities Berhad (“Bursa Securities”).

This Corporate Governance Overview Statement (“CG Statement”) is based on the three (3) principles as set out in the Malaysian Code On Corporate Governance (“MCCG”) which was further updated by the Securities Commission Malaysia on 28 April 2021, which are:-

Principle A - Board leadership and effectiveness
Principle B - Effective audit and risk management
Principle C - Integrity in corporate reporting and meaningful relationships with stakeholders

This CG Statement is augmented with a Corporate Governance Report (“CG Report”) which provides a detailed articulation of the application of the Company and its subsidiaries’ (“the Group”) corporate governance practices as set out in the MCCG throughout the FYE 2022. This CG Report is available on the Company’s corporate website at www.carimin.com, as well as via an announcement on the website of Bursa Securities.

Statement on Corporate Governance

Board Charter

The Board of Directors (“the Board”) of Carimin Petroleum Berhad (“the Company”) is fully committed towards ensuring good corporate governance practices are implemented and maintained throughout the Company and its subsidiaries (“the Group”) as a fundamental part of discharging its duties to enhance shareholders’ values consistent with the principles and best practices set out in the Malaysian Code on Corporate Governance (“the Code”). The Board supports the highest standards of corporate governance and the development of best practices for the Group.

This Board Charter sets out the composition and balance, roles and responsibilities, operation and processes of the Board and is to ensure that all Board Members acting on behalf of the Company are aware of their duties and responsibilities as Board Members

A copy of the Board Charter is available on the Company’s website at www.carimin.com.

Board Charter

Gender Diversity Policy

Carimin Petroleum Berhad (“the Company”) recognises that gender diversity together with equitable representation at Board level is an essential element of good governance and a critical attribute of a well-functioning board and for maintaining a competitive advantage. A diverse Board enhances decision-making capability and is more effective in dealing with organisational changes.

The Company takes cognisance of the best practices recommended under the Malaysian Code on Corporate Governance to have at least 30% female Directors.

A copy of the Gender Diversity Policy is available on the Company’s website at www.carimin.com.

Gender Diversity Policy

Fit and Proper Policy

The Directors’ Fit and Proper Policy (“Policy”) of Carimin Petroleum Berhad (“CPB” or “the Company”) and its subsidiaries (“the Group”) is to ensure a transparent and rigorous process for the appointment and re-election of directors of the Group.

This Policy sets out the criteria for the appointment and re-election of Directors of the Groupand ensure compliance with the Main Market Listing Requirements (“Listing Requirements”) of Bursa Malaysia Securities Berhad (“Bursa Securities”).

Fit and Proper Policy