CORPORATE GOVERNANCE POLICIES, PRINCIPLES & GUIDELINES

ROLE STATEMENT Managing Director

Managing Director is appointed by Shareholder’s meeting. Managing Director is responsible for overall management of all the matters in consultation and coordination with Executive Directors. Managing Director acts in the interest of shareholders and represents and reports to Chairman and Board of Directors.

Responsible to :

The Board

Responsibilities

  1. To accept the key accountability for the performance of the Group.
  2. To accept responsibility for the executive management of the MAPCO and to lead the fulltime management in meeting the objectives agreed on an annual and continuing basis.
  3. To establish appropriate and related objectives for the executive directors of the MAPCO.
  4. To prepare an outline strategic plan for the business having regard to the requirements of shareholders, stakeholders and investors taking full account of business threats and opportunities and the relative competitor comparison for discussion and agreement at the Board.
  5. To prepare a detailed business plan for the MAPCO and its major operating subsidiaries that sets out the principal objectives to be achieved in meeting an agreed annual profit plan or budgets and related financial objectives- profits, cash, borrowings, earnings per share objectives or other performance measures agreed.
  6. To ensure that there is an adequate reporting process which monitors the performance of the MAPCO and its main subsidiaries on a monthly basis to enable appropriate corrective and other actions to be taken on a timely basis.
  7. To monitor and review progress on the strategic plan on a quarterly or six-monthly basis as is appropriated.
  8. To review the organizational framework and to ensure that policies relating to management selection, performance review, development and de-selection are operated on an agreed and consistent basis having regard to the need to motivate managers and ensure the MAPCO operates in the upper quartile of management effectiveness and make recommendations for change as appropriate to the Board.
  9. To liaise with the Chairman as appropriate on issues which related to the Board and to keep the Chairman informed on all material matters relative to the performance of the MAPCO and its strategic and market circumstances.
  10. To ensure adequate standards of financial management and control taking account of the required standards of corporate governance and the particular requirements in relation to business risk management and processes.
  11. To finalize and effectively monitor risk assessment processes within the businesses and those relating to investment policies and ensure compliance with procedures.
  12. To ensure compliance with legal and regulatory requirements, and ensure that there are appropriate processes in place for communication with regulators.
  13. To represent the MAPCO as required in the industry and business Community To act and represent MAPCO in dealing with Government, Legislature and other important institutions of Myanmar and of other countries .
  14. To ensure that MAPCO has adequate plans and processes for communication with its stakeholder groups.

ROLE STATEMENT Executive Director

Executive Directors must meet at least once in every two-month time. Executive Directors implement the business matters under the guidance of Chairman, under the leadership and close supervision of the Managing Director for achieving the vision, mission and goals of MAPCO. Executive Directors strive for continual prosperity, profitability and future-oriented long term benefits for MAPCO.

Executive Directors set guidelines and manage the Corporate Departments, Divisions and operational Corporate Units by coordinating with Managing Director. Executive Directors undertake the Good Corporate Governance within MAPCO, exercise the Business Ethics and ensure Corporate Social Responsibility.

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