Corporate Governance
Air Selangor is committed to the highest standards of corporate governance whilst pursuing itsvision and mission to deliver the best experience to customers in its journey to be the leading water services provider in Asia by 2030.
The Board recognises the importance of governance and plays an active role in overseeing the Company’s governance practices and framework to ensure its relevance and ability to meet future challenges.
Board Charter
The Board Charter sets out the roles and responsibilities of the Chairman, the Board, Board Committees, as well as the Chief Executive Officer of the Company in upholding corporate governance standards and practices. The Board Charter reflects the procedures of the Board and matters reserved for the Board’s consideration and approval.
Code of Conduct and Ethics for Directors
The Code sets out the professional standards of corporate and individual behaviour expected of Directors of the Company.
Terms of Reference (TOR)
Board Audit Committee (BAC) TOR
Ensures effective corporate governance, internal control, and external financial reporting practices. BAC also oversees the remit and work of internal auditors, integrity and governance function as well as ensuring an objective and professional relationship with the external auditors.
Board Nomination & Remuneration Committee (BNRC) TOR
Sets out the BNRC’s duties to manage the nomination and remuneration process for the Board and various Board Committees and other Senior Management positions within the Company.
Board Risk & Sustainability Committee (BRSC) TOR
Sets out the BRSC’s duties and responsibilities in overseeing the effectiveness of the risk management framework and risk-related policies, as well as the integration of sustainability into the corporate strategy and decision-making of the Company.
Terms of Reference of Board Procurement Committee (BPC)
The BPC is set up to review and approve procurement proposals on awards and variation orders according to the Company’s Procurement Guidelines approved by the Board of Directors. This Term of Reference ensure transparency, fairness, good business ethics and no inducements in the decision-making process with respect to all procurement matters before making any approvals or recommendations.
Remuneration Policy & Procedure
This policy and procedure aim to attract, motivate and retain individuals of high calibre and talent at the Board of Directors and senior management levels to drive the Company’s business goals and strategies and ensure long-term business sustainability.
