DRIVING IT UP
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ANNUAL REPORT 2016
Principle 6 : Access to Information
In order to fulfil their responsibilities, directors should be provided with complete, adequate and timely
information prior to board meetings and on an on-going basis so as to enable them to make informed decisions
to discharge their duties and responsibilities.
Directors are given independent and full access to the Management team and Company Secretary, all Board and
Board Committees’ minutes and all approval and information papers. In between Board meetings, important
matters concerning the Company are also put to the Board for its decision by way of circular resolutions in writing
for the directors’ approval together with supporting memoranda to enable the directors to make informed
decisions. The Company supports the directors, either individually or as a group, if they require independent
professional advice in furthering their duties to the Company.
Remuneration Matters
Principle 7 : Procedures for Developing Remuneration Policies
There should be a formal and transparent procedure for developing policy on executive remuneration and
for fixing remuneration packages of individual directors. No director should be involved in deciding his own
remuneration.
Principle 8 : Level and Mix of Remuneration
The level and structure of remuneration should be aligned with the long-term interest and risk policies of the
company, and should be appropriate to attract, retain and motivate (a) the directors to provide good stewardship
of the company, and (b) key management personnel to successfully manage the company. However, companies
should avoid paying more than is necessary for this purpose.
Principle 9 : Disclosure on Remuneration
Every company should provide clear disclosure of its remuneration policies, level and mix of remuneration, and
the procedure for setting remuneration, in the company’s Annual Report. It should provide disclosure in relation
to its remuneration policies to enable investors to understand the link between remuneration paid to directors
and key management personnel, and performance.
The RC comprises two non-executive and independent directors, and a non-executive director. It is chaired by
Mr Sam Chong Keen and the members are Mr Goh Chee Wee and Dr Wee Li Ann.
The RC’s written key terms of reference describe its responsibilities and these include:
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recommending to the Board, in consultation with the Board Chairman, for endorsement, a comprehensive
remuneration policy framework and guidelines for remuneration of the directors and key executives of the
Group;
Corporate Governance
(Cont’d)
