DRIVING IT UP
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ANNUAL REPORT 2016
The Company does not practice selective disclosure. Shareholders are kept informed of the developments
in the Group’s businesses and operations through announcements via SGXnet as well as through the
annual report. Announcements are made as soon as possible to ensure timely dissemination of the
information to shareholders and the public. Results and the annual reports are announced or issued within
the mandatory periods. To further enhance its communication with investors, the Company’s website
allows the public to access information on the Group directly.
Shareholders are encouraged to attend the Company’s general meetings to ensure a greater level of shareholder
participation and for them to be kept up to date on the strategies and goals of the Group. All shareholders of
the Company receive a copy of the Annual Report, Notice of AGM and circulars and notices pertaining to any
Extraordinary General Meetings of the Company.
To facilitate participation by shareholders, the Company’s Constitution allows shareholders to attend and vote
at general meetings of the Company by proxies. A shareholder who is not a relevant intermediary is entitled to
appoint not more than two proxies to attend, speak and vote at the general meetings while a member who is
a relevant intermediary is entitled to appoint more than two proxies to attend, speak and vote at the general
meetings through proxy forms deposited 48 hours before the meeting. Notices of general meetings are also
advertised in newspapers and available on the SGX-ST’s website.
Every matter requiring shareholders’ approval is proposed as a separate resolution. Each item of special business
included in the notice of meeting is accompanied, where appropriate, by an explanation for the proposed
resolution. As authentication of shareholder identity information and other related security issues still remain a
concern, the Company has decided, for the time being, not to implement voting in absentia by mail, facsimile or
email. Participation of shareholders is encouraged at the AGM through the open question and answer session.
The Directors, Management and External Auditor are available to address any queries or concerns on matters
relating to the Group and its operations.
For greater transparency, the Company implemented poll voting since 2012. This entails shareholders being
invited to vote on each resolution by poll thereby allowing all shareholders present or represented at the meeting
to vote on a one share, one vote basis. The detailed voting results of all votes cast for, or against, each resolution
tabled, are announced at the meeting and via SGX-ST’s website.
Dividend Policy
While the Company has not formally instituted a dividend policy, it has a good track record of paying annual
dividends to shareholders. In proposing any dividend payout and/or determining the form, frequency and/or
the amount of such dividend payout, the Board will take into account, inter alia, the Group’s financial position,
retained earnings, results of operation and cash flow, the Group’s expected working capital requirements,
the Group’s expected capital expenditure and future expansion and investment plans and other funding
requirements, general economic conditions and other internal or external factors that may have an impact on the
business or financial performance and position of the Group.
The Board endeavours to maintain a balance between meeting shareholders’ expectations and prudent capital
management with a sustainable dividend payout.
Corporate Governance
(Cont’d)
