Who is ytl owner

He is the first non-Italian board member of the historic Rome Opera House and helped fund its restoration to keep it from closing. He was the Primus Inter Pares Honouree of the Oslo Business for Peace Award, for his advocacy of socially responsible business ethics and practices. This was in recognition of his efforts in the transformation of Kuala Lumpur into one of the top shopping and tourist destinations in the world.

Malaysian, male, aged 62, was appointed to the Board on 18 October as an Executive Director. Dato' was redesignated to the position of Managing Director on 29 June He is a member of the Faculty of Building, United Kingdom. He was then seconded to the National Productivity Corporation now known as the Malaysian Productivity Corporation as the Deputy Director General in and was promoted as Director General in where he was instrumental in spearheading productivity and quality improvement initiatives in the private sector.

He also served as an advisor to Hay Group Malaysia Sdn Bhd, a consultancy firm and as a non-executive director of various private sector entities. He is also a member of the Audit Committee.

His work ethic and character is often spoken about by his business contemporaries. About his personality, he was often described as a good friend, as well as a humble man. Yeoh Tiong Lay led not only his company, but was also a prominent figure in the Malaysian and regional construction industry.

You knew YTL was a family business, but this is how family-orientated it actually is. Also Read. Subscribe to our newsletter Stay updated with Vulcan Post weekly curated news and updates. Angela Teng 12 Nov NTU scientists are turning durian husks into odourless bandages, and you may soon buy them. Claudia Khaw 12 Nov Joycelyn Tan 12 Nov Zafirah Salim 12 Nov Venxhin Pang 11 Nov Take a look behind the scenes.

Sade Dayangku 11 Nov Joycelyn Tan 11 Nov International Edition. About Us Reach Out Menu. The Board recognises the importance of encouraging and developing female talent at all levels.

Although it has not set any specific measurable objectives, the Board intends to continue its current approach to diversity in all aspects while at the same time seeking Board members of the highest calibre, and with the necessary strength, experience and skills to meet the needs of the Company.

The Board, through the NC, assesses the training needs of its Directors on an ongoing basis by determining areas that would best strengthen their contributions to the Board. The Board has taken steps to ensure that its members have access to appropriate continuing education programmes.

The Company Secretary facilitates the organisation of in-house development programmes and keeps Directors informed of relevant external training programmes. During the financial year ended 30 June , the following five in-house training programmes were organised for the Directors All the Directors have undergone training programmes during the financial year ended 30 June The conferences, seminars and training programmes attended by one or more of the Directors covered the following areas As a result of the Group's operational structures and the different divisions involved, not all UK entities are held by a single UK Holding company.

Having said this, each company adopts the same philosophy and ensures that all its activities are of the highest legal and ethical standards. This Tax Strategy for the year ended 30 June is provided in compliance with the requirements of paragraphs 16 2 and 19 2 , Schedule 19 Finance Act and covers all YTL entities resident in the UK as listed in the Group's annual accounts, referred to as the "UK Group" in this policy.

The UK Group seeks to comply with the spirit and letter of UK tax legislation and claims all tax reliefs and allowances it is entitled to. The UK Group will consider reasonable tax planning opportunities which are in line with its risk appetite. As a general rule, the UK Group does not enter into complicated structures nor engages in any aggressive or artificial tax planning, as the UK Group does not believe it is the correct thing to do.

Due to the size and complexity of the UK tax system, tax is a complicated area and uncertainties will arise. Consistent with other business areas, the UK Group will seek external advice when required. The Finance Director for each member of the UK Group is ultimately responsible for the tax strategy and engages with relevant individuals across the UK Group to ensure the tax strategy is implemented and monitored.

Board oversight over each member of the UK Group's tax policy is exercised by Board and the Audit Committee where one exists. Consequently, obtaining tax relief on capital expenditure is a key factor affecting the UK Group. Other factors such as changes in tax legislation or changes in interpretations may also impact the amount of tax due by members of the UK Group.

The UK Group adopts a risk averse and cautious approach to tax. In addition, tax is included as part of the UK Group's risk assessment framework. The overall risk framework is monitored by members of the UK Group with regular updates provided to the relevant Board. The outcome of these risk reviews has always resulted in those entities being treated as low risk by HMRC.

The UK Group is committed to maintain this low risk status in the long term. All members of the UK Group believe that its approach to tax and early engagement with HMRC on any area of uncertainty are significant factors in maintaining this low risk rating. Conduct At The Workplace 1. Accountability 1. Any serious violations may also subject the individual employee to civil or criminal implications.

Non-Discrimination 2. Business Communications 3. Record Keeping 4. Employees must never delete, destroy or discard any records without authorisation and particularly where it is to hide a wrongdoing or a mistake. This includes that an employee of the YTL Group should not be giving instructions to any other person, including colleagues and third parties, to prepare or approve false or misleading records to either hide the true nature of the records, or to achieve an improper purpose that will otherwise be in violation of any laws or policies of the company or the YTL Group.

Personal Data Protection Notice 5. All employees are to ensure that such personal data processed within the YTL Group is protected at all material times and in compliance with the applicable laws. Confidential and Proprietary Information 6. This obligation of non-disclosure is effective even after the termination of employment.

Conduct in Business Ethics 7. Outside Employment 7. If you are already engaged in any outside employment, you are required to disclose and obtain approval from the Human Resource Department. Any approval given is at the sole discretion of the YTL Group and can be withdrawn at any time with or without prior notice, and the employee is required to immediately cease such outside employment, failing which the YTL Group is entitled to claim compensation for any unlawful profiteering as a result of any conflict of interest.

Conflicts of Interest 8. The YTL Group has the sole discretion in determining the nature of conflict of interests and the next steps or disciplinary action to be taken in relation to it. The exception to this is where such board appointments relate only to businesses or entities that were formed by non-profit organisations, such as social or community-related clubs or associations.

If any employee of the YTL Group has any interest or intends to hold any key position as an office bearer in any political party, this interest or intention must first be disclosed to his immediate supervisor and head of department. Any director of any company under the YTL Group who has any interest or intends to hold any key position as an office bearer in any political party must disclose such interest or intention to the executive directors of YTL Corporation Berhad. Insider Trading 9.

Foreign laws on insider trading may apply where the information concerns companies listed outside of Malaysia. The YTL Group does not tolerate any such acts of bribery even in a personal capacity. Gratification can be money, donation, gift, loan, fee, reward, valuable security, property or interest in property, movable or immovable property, financial benefit, office, dignity, employment, contract of employment or services, agreement to give employment or render services in any capacity, any offer, undertaking or promise, whether conditional or unconditional, of any gratification, including favours or promise not to do something which is of value or beneficial to the recipient.

Gratification does not have to be directly received by the employee, but it can also be received by anyone related to the employee that is beneficial, of value or advantageous to the employee. It should only be a token gift either for purposes of expressing appreciation or for customary and festive purposes. Such gifts should not at any material time, be given with the intention of obtaining any favour or hopes of retaining business or undue influence for obtaining future business from the recipient of the gifts.

When dealing with public officials, employees of the YTL Group should ensure that any giving or receiving of gifts do not relate to, in any form whatsoever, the public official's official dealings or public duty. At all material times, employees are to ensure compliance with laws of their respective jurisdictions, and the higher standard will be applicable to all employees to avoid non-compliance of any laws on anti-bribery which may be applicable to the YTL Group as a whole.

The intention behind giving or receiving the gift, hospitality or entertainment must always be considered first. It should never be for an improper motive to obtain or retain a business, or to obtain some form of benefit or advantage, whether it is for the business or for the individual employee; b. If an employee is unsure of how to consider the motive behind any gifts, hospitality or entertainment offered, the employee must always disclose and refer the matter to the immediate supervisor or head of department to obtain advice and also approval before proceeding; c.

All employees of the YTL Group are not allowed to give or receive any gratification, gifts, hospitality or entertainment where it is for an improper purpose and can be deemed as a gratification, regardless of whether it is to benefit the employee individually or to benefit the business of any of the YTL Group; d.

Where it is difficult or inappropriate to decline the offer of a gift i. Anti-Money Laundering Whistleblowing Abuse of Power; b. Bribery; c. Breach of laws and statutory requirements; d. Criminal Activity; e. Conflict of Interest; f. Danger to health and safety or the environment; g. Sexual harassment; h. Fraud; i. Unauthorised and intentional overpayment to suppliers or under any contract; j. Misuse of any property belonging to the YTL Group; k.

Gross negligence; l. The YTL Group does not tolerate use or abuse of the whistleblowing channel with the intention to scandalise. Employees who intentionally file false reports will be subjected to disciplinary action and possible termination.

Conduct in Public Responsible Corporate Citizenship Distribution and Group's Bulletin Boards Social Media Policy As such, all employees are strongly encouraged to exercise discretion at all times when using and publishing on online platforms. Press Release and Public Statements Business Associates Directors' remuneration which rewards individuals for performance while contributing to the long-term success of the Group is essential in promoting business stability and growth.

The main objective of this policy is to serve as a guide to determine the level and composition of remuneration of Directors and Senior Management which take into account —. The remuneration of Non-Executive Directors shall be by a fixed sum and not by a commission on or percentage of profits or turnover. The fees and benefits payable to the Non-Executive Directors shall be put for approval of the shareholders at a general meeting on an annual basis.

Executive remuneration is emphasised on performance, linking total compensation directly to the achievement of organisational and individual performance goals, and gives consideration to the equitability, retention and market competitiveness and its remuneration practices. Remuneration packages for Executive Directors and Senior Management comprise a balance of fixed and performance-linked variable elements as indicated below:.

Salary increments will also take into consideration market trends, the performance of the Group and other factors deemed appropriate. Benefits programme provided may include medical benefits, insurance coverage, a fully expensed car, company driver, petrol allowance, living accommodation, club membership, mobile devices, internet subscriptions, telephone allowances and other business expense allowances or claimable benefits.

Variable bonus payments are paid wholly in cash. The variable bonus incentivises and rewards individuals for their performance, efforts and achievement subject to corporate performance targets measured based on a holistic balanced approach comprising both financial and non-financial targets that support the Group's strategy. Performance linkage The objectives of the variable bonus payments are aligned to —.

The scheme facilitates direct participation in the equity of the Company, thereby providing motivation to contribute to the growth of the Group through an enhanced sense of belonging, and providing valuable incentive of ownership. Eligibility, basis of allocation, maximum allowable allocations and vesting period are governed under the By-Laws for the ESOS which is administered by the Options Committee set up by the Board.

The RC shall be responsible for carrying out the duties detailed below for the Company and the group as a whole, as appropriate:. Our mission is to turn the right opportunities into the right thing, and the right thing into lasting value.

We rely on the core values of 'honesty, hard work, moral responsibility, togetherness and vitality' to build value that is not simply lasting, but worthy of lasting. In accordance with applicable laws and regulations, a Director of the Company should formally disclose any direct or indirect interests or conflicts of interests in such transactions or matters as and when they arise and abstain from deliberations and voting at Board meetings as required.

Prior to every 'Closed Period' for dealing in securities, the Board will be sent reminders via email comprising a write-up of the relevant requirements under the Main LR, the Act and the Capital Markets and Services Act , including the procedures that need to be complied with for dealings during and outside 'Closed Period' and sample notices that the Directors would need to provide the Company if they do deal in the securities to ensure no lapse in compliance.

The Executive Directors are collectively accountable for the running and management of the Group's operations and for ensuring that strategies are fully discussed and examined, and take account of the long-term interests of shareholders, employees, customers, suppliers and the many communities in which the Group conducts its business. They help to ensure that the interests of all shareholders, and not only the interests of a particular fraction or group, are taken into account by the Board and that the relevant issues are subjected to objective and impartial consideration by the Board.

The positions of Executive Chairman and MD are separated and clearly defined and are held by separate members of the Board. The Chairman is primarily responsible for: a leading the Board in setting the values and standards of the Company, including good corporate governance practices; b the orderly and effective conduct of the meetings of the Board and shareholders; c leading discussions, encouraging active and open participation; d managing the interface and encouraging constructive relations between Board and management; e ensuring the provision of accurate, timely and clear information to Directors and effective communication with stakeholders; f facilitating the effective contribution of Non-Executive Directors.

The MD is responsible for, amongst others:- a Overseeing the day-to-day running of the business, developing and implementing Board policies and strategies, and making operational decisions; b Serves as the conduit between the Board and the management in ensuring the success of the Company's governance and management functions; c Ensuring effective communication with shareholders and relevant stakeholders; d Providing strong leadership i.

The committees will focus on specific responsibilities in greater detail and make the necessary reports or recommendations to the Board for its consideration and decision. Details of the membership and summary of the Terms of Reference of each committee are available on YTL Corp's website at: www. The Nominating Committee will also facilitate and determine the board induction and continuing education programmes to be provided for the Board in areas that would best strengthen their contributions to the Board.

Any Director is, while holding office, at liberty to accept other board appointments so long as the appointment does not detrimentally affect the Director's performance as a Board member of the Company. Directors must also be mindful of the requirement of the Main LR that they do not sit on the boards of more than 5 listed issuers. An induction pack which contains key documents required by Board members will be given to the Director upon appointment.

Visits to the Group's operational sites and meetings with senior management may also be arranged as practicable and appropriate. In addition to the Mandatory Accreditation Programme required by Bursa Securities for newly appointed Directors, Board members are required to attend such training or professional development programme as the Nominating Committee or the Board members have collectively or individually considered as helpful in enhancing their skills and knowledge and keeping up-to-date with relevant issues.

A Director may participate in a Board meeting or Committee Meeting by way of audio or audio-visual or other instantaneous telecommunication device as provided in the Constitution of the Company. Whenever necessary and reasonable, Directors may seek independent professional advice with the Chairman's prior consent, which will not be unreasonably withheld, as they individually or collectively consider necessary to fulfil their responsibilities and permit independent judgment in decision making, at the expense of the Company.

The Board is assisted by the Audit Committee in overseeing the Group's financial reporting processes and quality of its financial reporting. The external auditors have to retire during the Annual General Meeting of the Company every year and be re-appointed by shareholders for the ensuing year. Comprehensive audits of the practices, procedures, expenditure and internal controls of all business units and subsidiaries are undertaken on a regular basis.

Such announcements include the quarterly financial results, material transactions and other developments relating to the Group requiring disclosure under the Main LR. In this regard, the needs and interests of other stakeholders are also taken into consideration. To this end, it has established a code of conduct and ethics including whistleblowing policies for the Group as a means of inculcating acceptable practices and to guide the behavior of management and employees.

The code is available at: www. This Charter was updated and adopted by the Board on 29 August Key elements of the Board's stewardship responsibilities include:- Reviewing and adopting strategic plans for the YTL Corp Group to ensure long-term, sustainable value creation for the benefit of its stakeholders; Overseeing the conduct of the YTL Corp Group's business operations and financial performance, including the economic, environmental and social impacts of its operations; Identifying and understanding the principal risks affecting the YTL Corp Group's businesses in order to determine the appropriate risk appetite within which management is expected to operate; Maintaining a sound risk management and internal control framework, supported by appropriate mitigation measures; Succession planning; and Overseeing the development and implementation of stakeholder communications policies.

Company Secretary The Board is supported by a professionally qualified and competent Company Secretary. Board Charter The Board's functions are governed and regulated by its Charter, the Constitution of the Company, various applicable legislation, Listing Requirements and other regulations and codes. Composition of the Board The Board has 12 Directors, comprising 8 executive members and 4 independent non-executive members.

Evaluation of the Board Annual evaluation of the Board as a whole, Board Committees and the individual Directors is carried out by the Nominating Committee. Remuneration Directors' remuneration is decided in line with the objective recommended by the Code to determine the remuneration for Directors so as to attract, retain, motivate and incentivise Directors of the necessary calibre to lead the YTL Corp Group successfully.

Board Commitment In accordance with the Listing Requirements, each member of the Board holds not more than five directorships in public listed companies. Provide assistance to the Board of Directors "Board" in fulfilling its fiduciary responsibilities relating to the corporate accounting and practices for YTL Corporation Berhad and its subsidiaries "Group".

Assist to improve the Company and the Group's business efficiency, the quality of the accounting function, the system of internal controls and the audit function to strengthen the confidence of the public in the Company's and the Group's reported results.

Maintain through regularly scheduled meetings, a direct line of communication between the Board and the external auditors as well as internal auditors. Establish policies and procedures to assess the suitability, objectivity and independence of the external auditors. Ensure that the internal audit function is effective and able to function independently. Strengthen the role of the Independent Directors by giving them a greater depth of knowledge as to the operations of the Company and of the Group through their participation in the Committee.

Act upon the Board's request to investigate and report on any issues or concerns in regard to the management of the Company and the Group. Review existing practices and recommend to management to formalise an ethics code for all executives and members of the staff of the Company and the Group.

Instill discipline and control to reduce incidence of fraud. Composition 1. The Committee shall be appointed by the Board from amongst their number and shall comprise no fewer than three 3 members, all of whom must be non-executive directors, with a majority of them being Independent Directors.

All members of the Audit Committee should be financially literate. At least one member of the Audit Committee:- a must be a member of the Malaysian Institute of Accountants; or b if he is not a member of the Malaysian Institute of Accountants, he must have at least 3 years' working experience and:- i he must have passed the examinations specified in Part I of the First Schedule of the Accountants Act ; or ii he must be a member of one of the associations of accountants specified in Part II of the First Schedule of the Accountants Act ; or c fulfils such other requirements as prescribed or approved by Bursa Malaysia Securities Berhad "Bursa Securities".

The Board must ensure that no alternate Director is appointed as a member of the Audit Committee. The members of the Committee shall elect a Chairman from amongst their number who shall be an Independent Director. The Chairman of the Committee shall not be the Chairman of the Board.

In the event of any vacancy in the Committee resulting in the non-compliance of sub-paragraph Special Reports. Reach Us. YTL founder dies at age Published: Oct 18, AM.