Overview

Senior Management Remuneration Policy

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INTRODUCTION

The Senior Management Remuneration (“SMR”) Policy is a formal and transparent guideline with regards to Senior Management Remuneration benefits of KPS Berhad and its’ subsidiaries. It is in line with the current market practice to attract, motivate, reward and retain Senior Management personnel of the Company.

PURPOSE

This SMR Policy is designed with the aim to support KPS Berhad’s Mission, Vision and Business Plan and shall adhere to the following principles:

  • To attract, nurture and retain the Senior Management personnel in driving the Company’s long-term objectives.
  • To consider the demand, complexity and performance of the Company as well as skills and experience required.
  • The remuneration benefits to be aligned with the business strategy and long-term objectives.
  • Incentive plans, performance measure and targets to be aligned with shareholders’ interest in mind.
  • Total remuneration shall be set at levels that are competitive with the relevant market and industry.
  • The remuneration benefits to be complied with all laws, regulations and statutory requirement.

SCOPE

This Policy shall apply to the Senior Management of KPS Berhad and its subsidiaries as follows:

  • Managing Director / Group Chief Executive Officer (“MD/GCEO”) and Deputy Chief Executive Officer (“DCEO”).
  • Head of Subsidiaries.

GUIDING PRINCIPLES

In determining the remuneration benefits of the Senior Management personnel, the Nomination & Remuneration Committee or the approving authority is guided by the following:

  • Employment Act 1955 (EA 1955)
  • Industrial Relations Act 1967 (IRA 1967)
  • Employees Provident Fund Act 1991
  • Employees Social Security Act 1969
  • Income Tax Act 1967
  • Limits of Authority (LOA) / Financial Authority Limits (FAL)
  • Terms of Reference of Nomination & Remuneration Committee
  • Employee Handbook
  • Any other Laws, Regulations and Acts that applicable at respective Country, State, District, Province or location at the relevant time of implementation.

ASPECTS

  • Employment Contract
  • Basic Monthly Salary
  • Other Monetary Remuneration Benefits
  • Non – Monetary Remuneration Benefits
  • Revision of Remuneration Benefits