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1. Background and Purpose
The Board of Directors (“Board”) of the MK Land and its subsidiaries (“Group”) values independence and objectivity in its deliberation, review and decision making process, allowing for more effective oversight of management and ensure the Board decisions are made objectively in the best interest of the Company taking into account diverse perspectives and insights.
2. Composition of the Board
2.1 At least half of the Board shall comprise Independent Directors in line with the Malaysian Code of the Corporate Governance and at least two (2) members or one-third (1/3) of the Board, whichever is the higher, shall consist of Independent Directors in compliance with Paragraph 15.02(1)(a) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“Listing Requirements”). At least one (1) member of the Board shall be a women Director in compliance with Paragraph 15.02(1)(b) of the Listing Requirements.
2.2 In the event of any vacancy in the Board resulting in the non-compliance of paragraph 2.1 above under the Listing Requirements, the vacancy must be filled within three (3) months from the date of such vacancy.
3. Independence of Director
3.1 A Director who is appointed to act as an Independent Director must, among others, satisfy the definition of “independent director” set out in Paragraph 1.01 and Practice Note 13 of the Listing Requirements.
3.2 Generality test – Directors must give effect to the spirit, intention and purpose of the said definition. If a person does not fall within any of paragraphs of Paragraph 1.01 of the Listing Requirements, it does not mean that the person will automatically qualify to be an independent director.
3.3 The Independent Director and the Board must still apply the test of whether the Independent Director is independent of management and free of any business or other relationships that could materially interfere with the exercise of objective, unfettered or independent judgement in the best interests of the Company.
4. Assessment of Independent Director
4.1 The Board via Nomination and Remuneration Committee (“NRC”) and assisted by the Company Secretary, shall conduct assessments on Independent Directors to determine the state of the Directors’ independence annually.
4.2 The independent directors shall also uphold the responsibility of updating the Board with any new information in relation to interests or relationships that could possibly impair their independence.
4.3 The Board will re-assess determinations of independence upon any such disclosure by a Director. In performing the assessments or verifying the results of an internally performed assessment, the Board may engage the services of an external consultant.
4.4 The tenure of an Independent Director shall not exceed a cumulative term limit of nine (9) years.
4.5 Upon completion of the nine (9) year term limit, the Independent Director may continue to serve on the Board. The Company shall conduct the two-tier voting process in seeking annual shareholders’ approval to retain an Independent Director beyond nine (9) years.
4.6 Independent Director shall not serve on the Board a cumulative term limit of beyond twelve (12) years from the date of his/her appointment as an Independent Director. He or she may be retained on the Board if he or she is re-designated as a non-independent director but this is strictly on a “case-to-case” basis at the discretion of the Board.
4.7 In providing justification for Paragraph 4.5 above, the Directors’ objectivity, commitment, contribution, experience and expertise as well as other relevant reasons shall be taken into consideration. Additional independence assessments may need to be carried out by the Board and is to be determined when the need arises.
5. Administration
The Board, with NRC’s recommendation and with the assistance of the Company Secretary is responsible for the administration, revision, interpretation, and application of this policy. The policy will be reviewed annually and revised as needed. Any amendments made to this policy must be approved by the Board of M K Land.
Policy reviewed and adopted on 29 August 2023
Businesses
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Nazri joined M K Land 1 July 2022 as Senior General Manager, Group Corporate Services overseeing the entire Corporate Services Division of the Group. He was then re-designated to the position as the Deputy Chief Operating Officer, Group Corporate Services of M K Land Holdings Berhad, effective from 1 July 2024.
He has over 25 years of progressive experience in strategic planning, culture and business transformation, business development, sales and marketing, communications and branding, information technology and stakeholder management.
Academic / Professional Qualification:
● Master in Business Administration, Universiti Putra Malaysia, Selangor, Malaysia
● BA Statistics, University of Missouri Columbia, Unites States of America
Frankie Chai was appointed as Financial Controller of M K Land Holdings Berhad in 2019. He has been with M K Land for the past 22 years. He has been promoted to the position as the Deputy Chief Operating Officer, Group Finance, Renewable Energy & Risk of M K Land Holdings Berhad, effective from 1 July 2024.
He holds professional certificate of the Association of Chartered Certified Accountants (ACCA) and a member of the Malaysian Institute of Accountants (CA).
He has worked with companies in property development, IT consultancy, and trading prior to joining M K Land in 2002.
Academic / Professional Qualification:
● Professional Certificate of the Association of Chartered Certified Accountants (ACCA)
● Member of the Malaysian Institute of Accountants (CA).
Our entry into the renewable energy sector is both strategic and heartfelt, reflecting our commitment to fortify our property business and ensure the lasting sustainability of M K Land. In FY2023, we achieved significant milestones with the completion of our inaugural largescale solar photovoltaic plant in Kerian, Perak, managed by our subsidiary, Solar Citra Sdn Bhd. Noteworthy developments include extensions on key dates and successful collaboration with our EPCC contractor. The plant exceeded expectations by achieving its Initial Operation Date on May 21, 2023, and the Commercial Operation Date on May 30, 2023. As the pioneering venture under the LSS4 in Perak, our solar plant is set to generate clean energy and provide a steady income through electricity sales. Achieving Commercial Operation seven months ahead of schedule exemplifies the operational excellence embedded in our Group’s ethos.
Our property business is at the core of what we do, driving our efforts. We have a variety of townships in different areas, each showcasing our commitment to excellence and innovation. These townships aren’t just buildings; they show how dedicated we are to creating spaces where people and businesses thrive. Our goal is to build a better future for everyone involved.
Contact our Sales and Marketing team at 03-7733 0303
for more information and schedule your visit today!
Beyond our core property development ventures, our commitment to providing exceptional leisure destinations remains firm. This section offers a comprehensive overview of our resorts and hotels, representing the hospitality landscape. From the relaxing retreat of Bukit Merah Lake Town Resort to the peaceful shores of Ombak Villa Langkawi, join us in exploring the status and achievements of these unique destinations—All united by our commitment to providing outstanding service and creating unforgettable experiences.
Ahmad Soalahuddin was appointed Deputy Chief Operating Officer of M K Land Holdings Berhad on 1 July 2022. He was subsequently promoted to the position Group Chief Operating Officer of M K Land Holdings Berhad, effective from 1 July 2023.
He brings more than 23 years of working experience in township development, master planning, infrastructure, leisure and agriculture. Together with the team, he utilised digitalisation and collaboration strategies to grow M K Land Holdings Berhad for future success.
Academic / Professional Qualification:
● Master of Business Administration, Anglia Ruskin University, United Kingdom
● Bachelor of Science Degree in Civil Engineering, Marquette University, United States of America
Dato’ Faris was appointed as the Group Chief Executive Officer of M K Land Holdings Berhad on 1 July 2022.
He brings with him more than 30 years of experience in audit, banking, financial advisory and construction. He does not hold any directorship in other public companies and listed issuers.
Academic / Professional Qualification:
