Corporate Governance

Statement on Corporate Governance

The Board of Directors (“the Board”) of Carimin Petroleum Berhad (“the Company”) recognises the importance of good corporate governance practices in the Company and its subsidiaries (“the Group”) and is committed to put in place a proper framework and implement controls that are in line with the principles of best practices as recommended by the Malaysian Code on Corporate Governance (“MCCG”).

The establishment, implementation and practice of the Principles and Recommendations of MCCG would support the business operations as well as the financial management of the Company and would invariably enhance the financial performance and shareholders’ value in the long term.

TThis Corporate Governance Overview Statement should be read together with the Corporate Governance Report 2021 (“CG Report”) which was prepared based on a prescribed format as enumerated in Paragraph 15.25(2) of the Main Market Listing Requirements (“MMLR”) of Bursa Malaysia Securities Berhad (“Bursa Securities”) so as to provide a detailed articulation on the application of the Group’s corporate governance practices as set out in the MCCG throughout the financial year ended 30 June 2021 (“FYE 2021”). The 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.

A copy of the Statement on Corporate Governance is available on the Company’s website at www.carimin.com.

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