1. OBJECTIVES OF THIS POLICY
The objectives of the Senior Management’s Remuneration Policy (“this Policy”) is to maintain fair and competitive packages for the Senior Management (“Senior Managers”) of Dufu Technology Corp. Berhad (“DUFU” or “the Company”) and its subsidiaries (“Group”) based on business needs and industry practice. It is aimed at motivating the Senior Managers to drive and achieve the long-term objectives of the DUFU Group.
2. SCOPE OF THIS POLICY
This Policy applies to the Senior Management of the Company and Group. For the purpose of this Policy, Senior Management of the Group comprise of Chief Executive Officer, Chief Operating Officer and Chief Financial Officer.
3. COMPONENTS OF REMUNERATION OF SENIOR MANAGEMENT
Senior Managers are paid the following remuneration:
Remuneration Components
Operation
Cash and Allowances
Senior Managers are getting 13-month basic salary, a company car with fuel or a fixed amount of car allowance according to Job Grade.
Short Term Incentive
Senior Managers are paid a variable bonus based on the Group’s performance for the financial year and their respective Performance Appraisal.
Long Term Incentive
Senior Managers are entitled to the Employee Share Option Scheme (“ESOS”) whereby the allocation of shares is determined by their Job Grade and Performance Appraisal.
Benefits
Senior Managers are entitled for paid leaves (Annual/ Medical/ Hospitalisation/ Compassionate), outpatient/ specialist, Group Insurance (Term Life and Hospitalisation & Surgical) and Mobile Phone subsidy.
4. BASIS OF REMUNERATION OF SENIOR MANAGEMENT
Remuneration of Senior Management are based on the demands, complexities and performance of the Company and also their seniority, role and responsibilities in the Company.
5. REVIEW OF REMUNERATION OF SENIOR MANAGEMENT
Annual salary review of the Senior Management shall be proposed by the CEO and/or Executive Directors presented to the Remuneration Committee for approval. The competitiveness of total remuneration is benchmarked against companies in the industrial products and services after having considered the Company’s performance and performance appraisal taking into consideration addressing material sustainability risks and opportunities.
6. REVIEW OF THIS POLICY
Remuneration Committee shall review this Policy periodically and as and when required in the light of new industry practices and competitiveness.
7. DISCLOSURE OF THIS POLICY
The Board of Directors will make appropriate disclosure in the Company’s annual report of the key aspects of this Policy in line with the Malaysian Code on Corporate Governance.
The Senior Management’s Remuneration Policy has been adopted by the Board on 25 February 2022.
