consistent with the previous study, that consist of the top largest companies by market capitalisation. The key principles used in determining the appropriate remuneration framework for the Non-Executive Directors’ Remuneration, among others were to reflect the complexity, responsibility and accountability of the roles with increasing regulatory demands of Bursa Malaysia and Securities Commission, TNB’s national importance, the competitiveness to attract and retain the talent profiles and to reflect the time and effort dedicated of their roles on the Board and Board Committees. Based on the findings, TNB’s Directors’ fee competitiveness would be between the P50 and P75 of the market. Subsequently, the Board/BNRC agreed to retain the existing Non-Executive Directors’ Remuneration and it is to be reviewed in three (3) years’ time. Remuneration policy Fixed remuneration Benefits-in-kind The Directors’Remuneration Policy is shaped by the following underlying principles: Alignment with strategy and business objectives Alignment with shareholders’ interest Long-term success of the Company Consistency and transparency Reward performance with competitive remuneration Alignment with market/industry practices Support Company values BOARD LEADERSHIP & EFFECTIVENESS CREATING VALUE THROUGH STRONG GOVERNANCE Sec 4 163 BOARD LEADERSHIP & EFFECTIVENESS DISCLOSURE ON DIRECTORS’ REMUNERATION Details of each Director’s remuneration for the Financial Year ended 31 December 2023: Name of Directors Salary (RM) Director’s Fees Meeting Allowances Emoluments1 (RM) Benefits-in- Kind2 (RM) T otal (RM) Company (RM) Subsidiaries (RM) Company (RM) Subsidiaries (RM) Executive Director Dato’ Seri Ir. Baharin bin Din (Cessation of Office as Director w.e.f. 29 February 2024) 1,560,000.00 - - - - 2,229,265.00 155, 738.16 3,945,003.16 Non-Executive Directors Dato’ Abdul Razak bin Abdul Majid (Appointed w.e.f. 27 March 2023) - 274,838.70 70,645.163 35,000.00 8,500.003 - 30,062.22 419,046.08 Datin Rashidah binti Mohd Sies (Appointed w.e.f. 10 April