FKS Food and Agri is committed to observing high standards of corporate governance at all times through effective disclosures and transparency. 

Board Matters

The Board oversees the Company’s management and affairs and is also responsible for protecting and enhancing long-term shareholder value and returns. The Board’s primary functions are to approve the Company’s key business strategies, financial objectives, annual budget, financial results, significant investments and divestment as well as funding proposals. 

The Board discharges its responsibilities either directly or indirectly through various committees comprising members of the Board. The Board Has three committees: (i) Audit Committee, (ii) Risk Management Committee and (iii) Remuneration Committee. The various Board Committees report their activities regularly to the Board. 

The Board will hold at least four meetings each year to review and deliberate on the company’s key activities and business strategies, including acquisition, joint venture partnerships and financial performances. 

Board Diversity

The Board comprises five Directors of whom three are executive and three are non-executive. In relation to gender diversity, two out of the five Directors are female. 

Male / Female

Executive / Non-Executive

The Directors appointed are qualified professionals who, as a group, have a diverse range of expertise in accounting, finance, business management experience, industry knowledge and strategic planning experience.

Audit Committee

Responsibilities of our Audit Committee include, among others:

  • Assist the Board in fulfilling its responsibility for overseeing the quality and integrity of the accounting, auditing, internal controls and financial practices of the Group;
  • Reviewing and reporting to the Board significant financial reporting issues and judgements to ensure the integrity of the financial statements;
  • Reviewing the external auditor’s audit plan, their evaluation of the system of internal accounting controls and audit reports;
  • Considering and recommending to the Board appointment or re-appointment of the external auditors and matters relating to engagement of auditors;
  • Reviewing the Group’s key financial risk areas, with a view to providing an independent oversight on the Group’s financial reporting; 
  • Ensuring that the Group’s internal controls are robust and effective;
  • Monitoring and reviewing the scope and results of the internal check function and its adequacy and effectiveness; and
  • Reviewing interested person transactions and potential conflicts of interest.

Risk Management Committee

Responsibilities of our Risk Management Committee include, among others:

  • Reviewing the overall risk management guidelines and framework;
  • Reviewing the risk philosophy, strategy, policies and risk tolerance and appetite recommended by management; 
  • Assessing the adequacy and overall effectiveness of risk management policies and systems, its implementation by management, reports on internal control, recommendations and confirm that appropriate action has been taken; 
  • Reviewing the risk profile of the Group, its internal controls and risk management procedures including financial, operational, compliance and information technology controls and the appropriate steps to be taken to mitigate and manage risks at acceptable levels determined by the Board; and
  • Monitoring external developments relating to the practice of corporate accountability and reporting of specifically associated risk, including emerging and prospective impacts.

Remuneration Committee

Responsibilities of our Remuneration Committee include, among others:

  • Reviewing and recommending to the Board a general remuneration framework for the Directors and Key Executive Officers; 
  • Reviewing and recommending specific remuneration packages for each of our Directors and Key Executive Officers;
  • Considering all aspects of remuneration, including but not limited to Directors’ fees, salaries, allowances, bonuses, options, share-based incentives, awards and benefit-in-kinds;
  • Performing an annual review of the remuneration of employees related to the Directors and Substantial Shareholders to ensure that their remuneration packages are in line with the staff remuneration guidelines and commensurate with their respective job scope and level of responsibilities; 
  • Reviewing the Company’s obligations arising in the event of the termination of the Executive Directors’ and Key Executive Officers’ contracts of services; and 
  • Undertaking other functions and duties as may be required by statute from time to time.