corporate
governance report
Whistle-blowing Policy
The Company implemented a whistle-blowing policy in 2010, which provides the Group’s employees and any other persons
with well-defined and accessible channels through which they may, in confidence, raise concerns about possible improprieties
in matters of financial reporting or other matters. Whistle-blowing concerns may be reported using a prescribed form, in
person or via letter, electronic mail or telephone call. The AC reviews such policy to ensure that arrangements are in place for
independent investigation of such matters and for appropriate follow-up action.
The Company will protect the identity and interest of all whistle-blowers, and treat all information received confidentially.
Anonymous reports will also be accepted.
Internal Audit
Principle 13: The company should establish an effective internal audit function that is adequately resourced and independent
of the activities it audits.
We have engaged Nexia TS Risk Advisory Pte. Ltd. (“
Nexia
”) as our internal auditors. Nexia is a certified public accounting firm
and a member of the Institute of Internal Auditors (“
IIA
”). In performing the internal audit, Nexia applied the Standards for the
Professional Practice of Internal Auditing set by IIA.
The Board recognises that it is responsible for maintaining a sound system of internal controls to safeguard shareholders’
investments and the Group’s business and assets. The AC approves the hiring, removal, evaluation and compensation of the
internal auditors. The internal auditors report primarily to the Chairman of the AC and have full access to the documents,
records, properties and personnel (including the AC) of the Group. The audit plan is submitted to the AC for approval prior to
commencement of the internal audit.
The AC reviews the adequacy and effectiveness of the internal audit function at least annually to,
inter alia
, ensure that (i) the
internal audit function is adequately resourced and has appropriate standing within the Group; and (ii) the recommendations
of the internal auditors are properly implemented.
4.
SHAREHOLDER RIGHTS AND RESPONSIBILITIES
Shareholder Rights
Principle 14: Companies should treat all shareholders fairly and equitably, and should recognise, protect and facilitate the
exercise of shareholders’ rights, and continually review and update such governance arrangements.
Communication with Shareholders
Principle 15: Companies should actively engage their shareholders and put in place an investor relations policy to promote
regular, effective and fair communication with shareholders.
Conduct of Shareholder Meetings
Principle 16: Companies should encourage greater shareholder participation at general meetings of shareholders, and allow
shareholders the opportunity to communicate their views on various matters affecting the company.
The Board is mindful of the obligation to provide regular, effective and fair communication with shareholders. Information
is communicated to the shareholders on a timely basis. The Company does not practise selective disclosure. Price sensitive
information is first publicly released via SGXNET and/or our corporate website before the Company meets with any group of
investors or analysts. The Group’s financial results and annual reports are announced or issued via SGXNET within the period
specified under the Listing Manual, and are also made available to the public via the Company’s website.
• e x p e r i e n c i n g
k i n g s m e n
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