{"id":345,"date":"2020-06-20T05:26:30","date_gmt":"2020-06-20T05:26:30","guid":{"rendered":"https:\/\/ohhsome.agency\/ecoworldinternational\/?post_type=policies_and_code&p=345"},"modified":"2020-08-18T02:10:50","modified_gmt":"2020-08-18T02:10:50","slug":"remuneration-policy","status":"publish","type":"policies_and_code","link":"https:\/\/ohhsome.agency\/ecoworldinternational\/policies_and_code\/remuneration-policy\/","title":{"rendered":"Remuneration Policy"},"content":{"rendered":"

EcoWorld International is a company with management team in multiple countries, competing for talent in a demanding environment. The company\u2019s ability to attract and retain high calibre executives required to manage complex business is important for the Company.<\/p>\n

The Directors Remuneration Policy and Key Management Personnel Remuneration Policy have been designed to reflect the multiple countries\u2019 operations of EcoWorld International\u2019s business 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 policies for the Board of Directors and Key Management Personnel.<\/p>\n

The following principles underpin EcoWorld International\u2019s approach on remuneration:<\/p>\n

    \n
  1. Transparency
    \n<\/strong>Simple, transparent and fair approach.<\/li>\n
  2. Link to strategy and shareholder alignment
    \n<\/strong>Significant proportion of remuneration is variable and linked to the delivery of EcoWorld International business results and remuneration is also intended to reflect the meeting of shareholders\u2019 expectation.<\/li>\n
  3. Stewardship
    \n<\/strong>Focus on long-term sustainable performance.<\/li>\n<\/ol>\n

     <\/p>\n

    EXECUTIVE DIRECTORS<\/h3>\n

    The remuneration of Executive Directors consists of:<\/p>\n

      \n
    1. Salary and Benefits
      \n<\/strong>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.<\/p>\n
        \n
      • Salary<\/b>
        \nSalary levels take into account the nature of the role, performance of the business and the individual, market positioning and pay conditions.When recommending salaries, the Nomination and 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 International.<\/li>\n
      • Benefits<\/b>
        \nExecutive Directors are entitled to receive those benefits available to all EcoWorld International employees. The said benefits include group insurance coverage, medical benefits, motor vehicle related benefits and annual leave.Executive Directors may receive other benefits that are considered to be appropriate in terms of the individual\u2019s role. Annual leave passage and security services for example.<\/li>\n<\/ul>\n<\/li>\n
      • Annual Bonus
        \n<\/strong>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 year, evaluated at the end of the financial year.The level of bonus payable may vary depending on the job performance.<\/li>\n<\/ol>\n

         <\/p>\n

        NON-EXECUTIVE DIRECTORS<\/h3>\n

        The remuneration of Non-Executive Directors consists of:<\/p>\n

          \n
        1. Fee
          \n<\/strong>Remuneration is in the form of fees, payable annually. Remuneration practice is consistent with recognized best practice standards for Non-Executive Directors\u2019 remuneration and, as a Malaysian listed company, the level and structure of Non-Executive Directors\u2019 remuneration will primarily be compared against best practices within Malaysia.The level and structure of Non-Executive Directors\u2019 remuneration is reviewed by the Nomination and Remuneration Committee who will make a recommendation to the board. Non-Executive Directors do not vote on their own remuneration.<\/li>\n
        2. Allowance
          \n<\/strong>Non-Executive Directors receive an allowance, which is paid in cash, for the purpose of attending board or committee meetings.<\/li>\n<\/ol>\n

          The Executive Directors play no part in the decision of their own remuneration but may attend the Nomination and Remuneration Committee meetings at the invitation of the Chairman of the Nomination and Remuneration Committee, if their presence is required. The determination of Non-Executive Directors\u2019 remuneration is decided by the Board of Directors, as a whole and subject to shareholders\u2019 approval, with individual Directors abstaining from discussion of his or her own remuneration.<\/p>\n

           <\/p>\n

          KEY MANAGEMENT PERSONNEL<\/h3>\n

          The remuneration of Key Management Personnel consists of:<\/p>\n

            \n
          1. Salary and Benefits
            \n<\/strong>To provide \ufb01xed remuneration to reflect the scale and complexity of both the business and the role, and to be competitive with the external market.<\/p>\n
              \n
            • Salary<\/b>
              \nSalary levels take into account the nature of the role, performance of the business and the individual, market positioning and pay conditions.When recommending salaries, the Nomination and 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 International.<\/li>\n
            • Benefits<\/b>
              \nThe Key Management Personnel are entitled to receive those benefits available to all EcoWorld International employees. The said benefits include group insurance coverage, medical benefits, motor vehicle related benefits and annual leave.<\/li>\n<\/ul>\n<\/li>\n
            • Annual Bonus
              \n<\/strong>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 year, evaluated at the end of the financial year.The level of bonus payable may vary depending on the job performance.<\/li>\n<\/ol>\n
                <\/ol>\n

                The remuneration of President & Chief Executive Officer and Chief Financial Officer are set by the Board of Directors based on the recommendation from Nomination and Remuneration Committee, whereas the remuneration of other Key Management Personnel only requires the approval of the President & Chief Executive Officer.<\/p>\n

                The Nomination and Remuneration Committee shall review and assess the effectiveness and continued relevance of policies periodically. Any revisions to the policies as recommended by the Nomination and Remuneration Committee will be submitted to the Board of Directors for approval.<\/p>\n","protected":false},"featured_media":0,"template":"","yoast_head":"\nRemuneration Policy - EcoWorld International<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Remuneration Policy - EcoWorld International\" \/>\n<meta property=\"og:description\" content=\"EcoWorld International is a company with management team in multiple countries, competing for talent in a demanding environment. 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