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A N N U A L R E P O R T 2 0 1 5
T H E S T R E N G T H O F O U R B R A N D S
boa r d Pe r f o rmanc e
Principle 5: There should be a formal assessment of the effectiveness of the board as a whole and its board Committees
and the contribution by each director to the effectiveness of the board.
A review of the Board’s performance is conducted by the Nominating Committee. On the recommendation of the
Nominating Committee, the Board has adopted an internal process for evaluating the effectiveness of the Board as a
whole annually. Each Board Member will be required to complete an evaluation form to be returned to the Nominating
Committee Chairman for evaluation. Based on the evaluation results, the Nominating Committee Chairman will present his
recommendations to the Board.
The Nominating Committee Chairman evaluates the performance and contribution of each director on an informal basis. The
Nominating Committee will, at the relevant time, look into adopting guidelines for annual assessment of the contribution of
each individual director to the effectiveness of the Board.
The Board has not engaged any external facilitator in conducting the assessment of the Board’s performance. When relevant,
the Nominating Committee will consider such engagement.
ac c e s s t o i n f o rma t i on
Principle 6: in order to fulfil their responsibilities, directors should be provided with complete, adequate and timely
information prior to the board meetings and on an on-going basis so as to enable them to make informed decisions to
discharge their duties and responsibilities.
The Management recognises the importance of ensuring the flow of complete, adequate and timely information to the
directors on an on-going basis to enable them to make informed decisions to discharge their duties and responsibilities.
To allow directors sufficient time to prepare for the meetings, Board and Board Committee papers are distributed to directors
a week in advance of the meeting. Any additional material or information requested by the directors is promptly furnished.
The Management’s proposals to the Board for approval provide background and explanatory information such as facts,
resources needed, financial impact, regulatory implications, expected outcomes, conclusions and recommendations.
Employees who can provide additional insight into matters to be discussed will be present at the relevant time during the
Board and Board Committee meetings. In order to keep directors abreast of the Group’s operations, the directors are also
updated on initiatives and developments on the Group’s business as soon as practicable and/ or possible and on an on-
going basis.
To facilitate direct access to the Management, the directors are also provided with the names and contact details of the
Management Team.
The Management also provides the Board with management reports. These reports include budgets, forecasts and monthly
management accounts. In respect of budgets, any material variances between the projections and actual results are disclosed
and explained to the Board.
Company S e c r e t a r y
The directors have separate and independent access to the Company Secretary. The Company Secretary is responsible
for, amongst others, ensuring that the Board’s procedures are observed and the Company’s Memorandum and Articles of
Association, relevant rules and regulations, including requirements of the Companies Act and the Catalist Rules, are complied
with. The Company Secretary also assists the Chairman and the Board in implementing and strengthening corporate
governance practices and processes.
