Role of the BoardThe Board is responsible for the stewardship of PMHB’s business and affairs on behalf of PMHB’s shareholders with a view to enhance long term shareholders value as well as investor interest while taking into account the interests of other stakeholders and maintaining high standards of transparency, accountability and integrity.
Directors shall also exercise reasonable care, skill and diligence for a proper purpose and good faith, in the best interest of the Company.
Formal schedule of mattersThe Board reserves a formal schedule of matters for its decision to ensure that the direction and control of the Company are firmly in its hands. These matters comprise:
- strategic issues and planning, including performance reviews and promoting business sustainability;
- setting the risk appetite for the Company and PMHB’s business;
- acquisition and disposal of shares, businesses, mergers and acquisitions;
- financial performance report;
- ethical standards through a code of conduct; and
- disposal of assets.
The principal responsibilities of the BoardThe principal responsibilities of the Board are to:
- review and adopt a sustainable strategic business development plan for PMHB;
- oversee the conduct of the businesses and evaluate whether or not the businesses are being properly managed;
- identify principal risks and ensure the implementation of appropriate systems to manage these risks;
- implement succession planning, including appointing, training, assessing the performance of Directors and Committee members and, where appropriate, replacing Directors of the Company;
- ensure that there are programmes in place to provide for the orderly succession of Senior Management; and
- review the adequacy and integrity of the Company’s internal control systems and management information systems, including systems for compliance with applicable laws, regulations, rules, directives and guidelines including formalising ethical values through a code of conduct.