The Board of PowerSeraya continuously reviews its composition to ensure relevant expertise is introduced to the Board to meet the needs of the PowerSeraya Group. Taking into account the scope and nature of the operations of the Group, the Board has reviewed and is satisfied that the current size of the Board is appropriate and allows for effective decision making. The standing of the members of the Board in the business and professional community, and their combined business, management and professional experience, knowledge and expertise provide the necessary core competencies to meet the Group’s needs and allow for diverse and objective perspectives on the Group’s strategic direction and growth.

There is a clear division of responsibilities between the Chairman and the Chief Executive Officer, which ensures a balance of power and authority, such that no one individual possesses a considerable concentration of power. The Chairman bears responsibility for the conduct of the Board and the Chief Executive Officer bears responsibility for the Group’s business.

The Board has overall responsibility for the business and affairs of the Company. The Board’s principal functions include the following:
	charting the overall strategic business direction;
	approving board policies, corporate strategies and key operational initiatives;
	reviewing and approving annual budgets, business plans and monitoring performance; and
	ensuring compliance with all laws and regulations as may be relevant to the business.

The Board conducts regular scheduled Board meetings on a quarterly basis. Additional meetings are convened as and when circumstances warrant them.