ANNUAL REPORT
2016
.41
CORPORATE
GOVERNANCE
The Board is of the opinion that it is not in the best interest of the Company to disclose the exact details of remuneration
of the key management personnel due to the competitiveness of the industry for key talent.
Goh Kim Siew, brother of Melvin Goh and Andy Goh, who are the Directors of the Company, was appointed as Director 每
System and Business Development on 15 February 2016. As his employment with the Company was less than 2 months as
at 31 March 2016, his remuneration was less than S$50,000 in FY2016.
Save as disclosed, there are no employees who are immediate family members of a Director or the CEO, and whose
remuneration exceeds S$50,000 during FY2016.
( C ) ACCOUNTAB I L I T Y AND AUD I T
ACCOUNTAB I L I T Y
Principle 10: The Board should present a balanced and understandable assessment of the Company＊s performance,
position and prospects.
The Board believes that it should conduct itself in ways that deliver maximum sustainable value to its shareholders. Timely
releases of the Group＊s financial results and all significant information to shareholders, as well as the prompt fulfilment
of statutory requirements, are ways to maintain shareholder＊s confidence and trust in the Board＊s capability and integrity.
Currently, the Company is required to release half year and full year results announcements pursuant to the Catalist Rules.
The Board, with the assistance of the management, strives to provide a balanced and understandable assessment of the
Group＊s performance and position. The Board also undertakes such effort with respect to other price sensitive public reports
and reports to regulators, when required.
The management is responsible to the Board and the Board itself is accountable to the shareholders of the Company.
R I SK MANAGEMENT AND I NTERNAL CONTROL S
Principle 11: The Board is responsible for the governance of risk. The Board should ensure that the management
maintains a sound system of risk management and internal controls to safeguard shareholders＊ interests and the
Company＊s assets, and should determine the nature and extent of the significant risks which the Board is willing to
take in achieving its strategic objectives.
The Board reviews the adequacy and effectiveness of the Group＊s risk management and internal controls framework including
financial, operational, information technology and compliance controls at least on an annual basis.
The remuneration received by the top five key management personnel (who are not Directors or the CEO) in FY2016
is approximately S$0.9 million, and a breakdown showing the level and mix of remuneration of each of the top five key
management personnel (who are not directors or the CEO) in bands of S$250,000 for FY2016 are as follow:
Salary
%
Fixed
Bonus
(1)
%
Variable or Performance
Related Income / Bonus
%
Other Benefits
and Benefits in Kind
(2)
%
Total
%
S$250,000 to S$500,000
Benjamin Solomon Tan
94
6
每
每
100
Below S$250,000
Carolyn Ann Theng May Lin
96
每
4
每
100
Chong Kim Cheng
70
每
30
每
100
Lily Tan Cross
87
6
7
每
100
Lim Chee Cheong
87
每
13
每
100
Notes:
(1)
The Group paid the key management personnel one month of contractual fixed bonus.
(2)
Other benefits and benefits in kind include transport allowances and usage of car.
