Objective

The Directors’ Remuneration Policy (“the Policy”) is to set an appropriate level of remuneration that allows Eco World Development Group Berhad (“EcoWorld”) to attract and retain the services of a suitable number of talented and well-qualified directors to drive the long-term business strategies of EcoWorld.

Scope

This policy applies to Executive Directors and Non-Executive Directors of EcoWorld.

Responsibility

1. The remuneration of Executive Directors is set by the Board based on the recommendation from the Remuneration Committee, whereas, the remuneration of Non-Executive Directors also operates on the same basis, except it requires shareholders’ approval.
2. The Remuneration Committee is empowered to make quantitative and qualitative assessment of performance in reaching its recommendations. The Remuneration Committee is also responsible to provide appropriate disclosure of the use of discretion, if required, in order for shareholders to understand the basis of its recommendation.
3. Each director shall abstain from deliberations and voting on decisions in respect of his/her individual remuneration.

Policy Statement

1. EcoWorld is a company competing for talent in a demanding environment. The ability of the Company to attract and retain high calibre executives required to manage complex business is important for shareholders.
2. This policy has been designed to reflect the business operations of EcoWorld as well as talent pool. The competitive market for top executives within the property development sector provides an important reference point, but is only one of the factors considered when the Company sets the remuneration policy. The following principles underpin the approach taken by EcoWorld to remunerate the Executive Directors: –
   1. Transparency Simple, transparent and fair approach.
   2. Link to strategy and shareholder alignment Significant proportion of remuneration is variable and linked to the delivery of the business results of EcoWorld and remuneration is also intended to reflect the meeting of shareholders’ expectation.

   3. Stewardship Focus on long-term sustainable performance.

   4. Achievement of Environment, Social & Governance goal.
3. Remuneration for Executive Directors comprises the following elements:-
   1. Salary & Benefits To provide fixed remuneration to reflect the scale and complexity of both the business and the role, and to be competitive with the external market.
      1. Salary
         • Salary levels take into account the nature of the role, performance of the business and the individual, market positioning and pay conditions in the wider EcoWorld.
         • When recommending salaries, the Remuneration Committee considers practice in other comparable property development companies as well as other companies of a similar size, geographic spread and business dynamics to EcoWorld.
      2. Benefits
         • Executive Directors are entitled to receive those benefits available to all employees of EcoWorld. The said benefits include group insurance coverage, medical benefits, motor vehicle related benefits, annual leave and other benefits that are considered to be appropriate in terms of the individual’s role.
   2. Annual Bonus
      • To provide variable remuneration dependent on performance against annual financial, operational and employee engagement measures.
      • The bonus is based on performance against annual measures and targets set at the start of the financial year, evaluated at the end of the financial year.
      • The level of bonus payable may vary depending on the job performance.
4. Remuneration for Non-Executive Directors comprises the following elements:-.
   1. Fee
      • Remuneration is in the form of fees. Remuneration practice is consistent with recognised best practice standards for Non-Executive Directors’ remuneration and, as a Malaysia-listed company, the level and structure of Non-Executive Directors’ remuneration will primarily be compared against Malaysia best practice.
      • The level and structure of Non-Executive Directors’ remuneration is reviewed by the Remuneration Committee who will make recommendations to the Board.
   2. Allowance
      • Non-Executive Directors receive a cash allowance for attending Board or Board Committee meetings, as well as for their oversight role on non-Board Committees.

   3. Benefits

      • The Founder, who is a Non-Independent Non-Executive Director, is provided with group insurance coverages which include Group Term Life, Group Hospital & Surgical and Group Personal Accident. He may receive other benefits such as security services.

5. Review of the Policy

   • The Remuneration Committee shall review and assess the effectiveness and continued relevance of this Policy periodically. Any revisions to the Policy as recommended by the Remuneration Committee will be submitted to the Board for consideration and approval.
6. The policy is available on the Company’s website www.ecoworld.my.