{"id":1764,"date":"2022-05-11T22:05:59","date_gmt":"2022-05-11T14:05:59","guid":{"rendered":"https:\/\/www.akademisains.gov.my\/ar21\/?page_id=1764"},"modified":"2022-05-28T06:54:35","modified_gmt":"2022-05-27T22:54:35","slug":"corporate-governance","status":"publish","type":"page","link":"https:\/\/www.akademisains.gov.my\/ar21\/corporate-governance\/","title":{"rendered":"Corporate Governance"},"content":{"rendered":"

[vc_row][vc_column][vc_column_text]ASM Council together with the ASM Management is committed to improve ASM\u2019s Corporate Governance through best practices. This year, ASM has updated several policies and procedures relevant to financial management, which includes asset management.\u00a0<\/span>\u00a0<\/span><\/p>\n

ASM Council<\/span><\/b>\u00a0<\/span><\/h4>\n

The ASM Council established under the Academy of Sciences Malaysia Act 1994 is the decision-making body of ASM. It is responsible to carry out the 14 functions of the Academy as well as manage the Academy\u2019s affairs. The Council is responsible to ensure that ASM remains an independent and credible body in championing matters of science, technology, innovation and economy that are of national importance. The Council is also responsible for administering the ASM Fund.<\/span>\u00a0<\/span><\/p>\n

Composition and Selection of ASM Council\u00a0<\/span><\/b>\u00a0<\/span><\/h4>\n

The membership of ASM Council comprises 16 members which includes The President, Vice-President, Secretary-General, Honorary Treasurer and 12 Ordinary Council Members.\u00a0 \u00a0<\/span><\/p>\n

ASM President is appointed from among Fellows for a three-year term by the SPB Yang di-Pertuan Agong based on the recommendation of the Minister of Science, Technology and Innovation. ASM President is eligible to be reappointed for the second term, provided that the person does not hold the position for six consecutive years. \u00a0 \u00a0<\/span><\/p>\n

Besides the ASM President, the other Council members are nominated from among Fellows to be elected at the Annual General Meeting. Fellows elected for the position of Vice-President, Secretary-General, Honorary Treasurer and 12 Ordinary Council Members are eligible to serve the position for two years. At the end of their term, they are also eligible to be re-nominated for the same position, provided the person does not hold the same position for four consecutive years. The balance of out-going and in-coming members provides sustainability and opportunity to Fellows to take part in the leadership role at ASM while ensuring the continuity of ASM policies.<\/p>\n

Hence, ASM Council comprise of Fellows of the Academy. \u00a0<\/span><\/p>\n

Each year, a number of Council positions will fall vacant and new members will be elected to fill the position at the Annual General Meeting. The balance of out-going and in-coming members provides sustainability and opportunity to Fellows to take part in the leadership role at ASM while ensuring the continuity of ASM policies. \u00a0<\/span><\/p>\n

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Conflict of Interest<\/span><\/b>\u00a0<\/span><\/h4>\n

Council Members are required to declare their involvement, directly or indirectly in any of the agenda tabled to ASM Council. Should a Council member declare their conflict of interest, the respective person will be required to abstain from the decision-making process and remain absent for the duration of the respective agenda.\u00a0 This will be recorded in the minutes of meeting.\u00a0<\/span>\u00a0<\/span><\/p>\n

Role of President and CEO<\/span><\/b>\u00a0<\/span><\/h4>\n

The roles and responsibilities of the President and Chief Executive Officer (CEO) are demarcated separately. President is the Leader of ASM and leads ASM Council in determining ASM\u2019s direction, policies, principles and stand, and the activities. President also leads discussions on all matters that are brought to the attention of Council. President together with other EXCO members ensures that all Council decisions are translated into executive actions. ASM President carries out the duties on a pro bono basis during the term of his\/her appointment and is not salaried by ASM.\u00a0<\/span>\u00a0<\/span><\/p>\n

Whereas CEO is the chief controlling officer of ASM and is responsible to lead ASM Management and oversee the overall administration matters. CEO\u2019s role includes strategising and translating Council decision into executive actions based on ASM\u2019s existing strategies, policies and procedures. CEO is appointed by ASM Council and is a civil servant salaried by ASM. <\/span>\u00a0<\/span>[\/vc_column_text][vc_row_inner][vc_column_inner][vc_column_text]<\/p>\n

ASM Committees<\/span><\/b>\u00a0<\/span><\/h4>\n

ASM Council establishes various committees such as working committees, task forces and Special Interest Group to carry out its programmes and studies. As such, ASM Council holds the authority to establish a committee and appoint its Chairperson.\u00a0<\/span>\u00a0<\/span><\/p>\n

Each committee is represented by members of ASM Expert Network especially ASM Fellows. This year, there were # committee, # task forces being established by ASM Council. The ASM Council also reviews the performance of its committees from time to time and closes the committees which has completed its task.<\/span>\u00a0<\/span><\/p>\n

Executive Committee (EXCO)\u00a0<\/span><\/b>\u00a0<\/span><\/h4>\n

The Executive Committee (EXCO) is responsible to monitor and oversee ASM\u2019s affairs and to support the implementation of ASM functions. The EXCO is often referred to by ASM Management for urgent approval and advise in managing ASM\u2019s day-to-day operations. The Committee also deliberates and review programme proposals and draft ASM policies prior to tabling the paper to ASM Council for approval.\u00a0<\/span>\u00a0<\/span><\/p>\n

The EXCO consist of the President, Vice-President, Secretary General dan Honorary Treasurer, who convenes at least four times per year. The EXCO meetings are chaired by the ASM President.\u00a0<\/span>\u00a0<\/span>\u00a0<\/span><\/p>\n

Finance Committee\u00a0\u00a0<\/span><\/b>\u00a0<\/span><\/h4>\n

The Finance Committee is responsible for overseeing the planning, implementation and monitoring of procedures, system and financial reporting related to ASM\u2019s finances.<\/span>\u00a0<\/span><\/p>\n

The functions of Finance Committee comprise the following:\u00a0<\/span>\u00a0<\/span><\/p>\n