The Nomination and Remuneration Committee (“Committee”) is entrusted with the task of identifying qualified individuals to serve as members of the Board of Directors (“Board”) and recommending such candidates for appointment to the Board and Board Committees. The ultimate decision as to who shall be appointed should be the responsibility of the full Board after considering the recommendations of the Committee.

A Directors’ Fit and Proper Policy has been formulated to guide the Committee in the review and assessment of potential candidates to be appointed onto the Board as well as Directors who are seeking re-election.

The Committee shall conduct periodic evaluation to assess the effectiveness of the Board as a whole, Board Committees and contribution of individual Directors, including Independent Directors.

The Committee is to deliberate and ensure that the Chief Executive Officer/Executive Director and Key Senior Management are fairly rewarded for their individual contributions to the Company’s overall performance and the levels of remuneration should be sufficient to attract and retain the Chief Executive Officer/Executive Director and Key Senior Management to run the Company successfully. The Committee’s recommended remuneration for the Chief Executive Officer/Executive Director and Key Senior Management shall be presented to the Board for approval.

The Committee shall also carry out such duties that may be delegated by the Board or required by the regulatory authorities from time to time.