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FoR betteR GoveRnAnce Annual Report 2022 107

The Board is responsible for the long-term success of xi. Implementation of Enhanced Organisational Structure;
KWAP and is accountable to the stakeholders in ensuring
that KWAP is managed effectively and achieves the strategic xii. Proposal to Update the Accounting Policy for KWAP;
objectives that have been set. The Board discharged those xiii. Update and Approval on Proposed Revision to Target
responsibilities through Board Meetings and focused on a Operating Model’s Implementation Plan;
number of specific areas such as strategy, governance and
performance. xiv. Proposed Revision to the Terms of Reference of Board
Committees of KWAP;
The key proposals approved by the Board for 2022 are as
follows: xv. Proposal on the Realignment of Management
Committees and Working Groups;
i. KWAP’s Corporate Scorecard and Financial Results
for 2021; xvi. Proposal on KWAP Brand Strategy Roadmap;

ii. KWAP’s Business Plan and Corporate Scorecard for xvii. Proposal on Corporate Social Responsibility Policy;
FY2023; and
iii. Proposal to Approve 2023 Investment Strategy and xviii. Proposal to Approve KWAP’s Customer Experience
Return Target; (Cx) Framework.

iv. KWAP’s Audited Financial Statements for Financial Apart from approval papers, the Board of KWAP had also
Year 2021; deliberated on reports which were tabled for its notification
on monthly or quarterly basis, amongst others, are as
v. KWAP’s Expenditure Budget for Financial Year 2023; follows:

vi. Implementation of Data Privacy Initiative (Phase 2) i. Notification on Investment Activities and Performance
Recommendation; Reports;

vii. Approval for KWEST Sdn Bhd’s 5-Year Blueprint ii. Notification on Financial Reports;
(2022-2026);
iii. Notification on Pension Services Department
viii. Proposal to Approve Business Plan for Prima Ekuiti Performance Review;
(UK) Limited;
iv. Quarterly Pension Contribution Report;
ix. Proposal to Enhance Prima Ekuiti (UK) Limited
Governance Structure; v. Progress Report on TERAS 5 Implementation; and

x. Proposal on MySTEP Programme 2022 for KWAP; vi. Quarterly Risk Management and Compliance
Department Report.