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ENRICHING tHE FUtURE ENRICHING NAtIoNAL PRoGRESS ENRICHING StAKEHoLDER VALUE ENRICHING SUStAINABLE IMPACt

StAtEMENt ON CORPORAtE GOVERNANCE

tHE BOARD (iii) Another vacant Board seat under Section 6(4)(e) of
the Act due to the retirement of Datuk Siti Zainab binti
Composition of the Board Omar on 30 May 2023, was filled in by Datuk Ahmad
KWAP’s Board comprises qualified, experienced and Terrirudin bin Mohd Salleh, the Attorney-general of
skillful members with mixed backgrounds representing the Malaysia, effective from 16 October 2023;
government, Private Sector, Bank Negara Malaysia and (iv) Meanwhile, another representative of the government
representative of Contributories, which are imperative for of Malaysia, Datuk Dr. Yacob bin Mustafa has retired
the overall strategic achievements of KWAP. on 2 August 2023. He was replaced by Puan Nor Yati
binti Ahmad, the newly appointed Accountant general
Section 6 of Act 662 (KWAP Act) stipulates that the Board of Malaysia on 6 November 2023;
shall consist of the following members, who are appointed
by the Minister of Finance: (v) Pursuant to her appointment as the Director-general
of Royal Customs Malaysia, MOF’s representative,
(i) a Chairman who shall be the Secretary general of namely, Dato’ Anis Rizana binti Mohd Zainudin @
Treasury, the Ministry of Finance; Mohd Zainuddin has resigned on 25 September 2023.
(ii) a representative from Bank Negara Malaysia; Her position was replaced by Datuk Dr. Shahrazat binti
Haji Ahmad, the newly appointed Deputy-Secretary
(iii) a representative from the Ministry of Finance; general of Treasury (Investment), effective from 11
(iv) the Chief Executive Officer who shall be an ex-officio October 2023; and
member; (vi) Dato’ Mohd Shaiful bin Ibrahim has resigned on 15
(v) three representatives of the government of Malaysia; December 2023.
(vi) three other persons from the private sector with Chairman and Chief Executive Officer
experience and expertise in business, investment,
banking and finance; and As per KWAP Act and as part of good governance and
best practices recommended by the Malaysian Code of
(vii) a representative of the contributories to the Retirement Corporate governance (MCCg) issued by the Securities
Fund other than the representative of the government Commission Malaysia as well as the Principles on
of Malaysia. good governance for government-Linked Investment
Companies (Pgg) issued by the Ministry of Finance, the
A brief profile of each Board member is presented on page
85 to 95 of this Integrated Report. roles of the Chairman and the Chief Executive Officer of
KWAP are distinct and separated.
In 2023, the following Board members had resigned or The Chairman is principally responsible for conducting and
retired:
ensuring the effectiveness of Board meetings whilst the
(i) Datuk Seri Asri bin Hamidon @ Hamidin (Chairman) has Chief Executive Officer, who is duly appointed by the Board
resigned on 4 January 2023. Datuk Johan Mahmood with the approval of the Minister of Finance, is responsible
Merican was then appointed as the new Chairman of for the daily operations, administration, and management
the Board on 27 February 2023; of KWAP which include overseeing the overall operations
of the business and the implementation of policies and
(ii) Dato’ Sri Sharifah Sofianny binti Syed Hussain’s term
ended on 28 February 2023. The Minister of Finance decisions made by the Board and the investment decisions
had subsequently appointed Dato’ Maznah binti Abdul made by the Investment Panel in accordance with KWAP
Jalil, as one of the private sector’s representatives on Act.
1 March 2023;

108 KUMPULAN WANG PERSARAAN (DIPERBADANKAN) i INtEGRAtED REPoRt 2023