SINGAPORE WINDSOR HOLDINGS LIMITED
| Annual Report 2015
25
CORPORATE GOVERNANCE
REPORT
The aggregate amount of fees paid or payable to the external auditors of the Company, broken down into audit and non-
audit services for the financial year ended 31 March 2015 are as follows:
z
Audit fees
: S$78,500
z
Non-audit fees
: S$2,500
The AC, with concurrence of the Board has recommended RSM Chio Lim LLP for re-appointment as statutory auditors of
the Company at the forthcoming AGM.
The Company engages suitable independent auditors to audit its foreign incorporated subsidiaries and associated
companies, as disclosed in Note 15 to the financial statements in this annual report which have been cleared by the
Company’s external auditors. The Board and AC have reviewed and are satisfied that the appointment of different auditors
would not compromise the standard and effectiveness of the audit of the Company.
The AC and the Board confirms that the Group had complied with SGX-ST Listing Rules 712 and 715 respectively.
The Company has in place whistle-blowing policies where employees of the Group have access to the AC to raise
concerns about possible corporate improprieties in matters of financial reporting or other matters.
No former partner or director of the company’s existing auditing firm or audit corporation is a member of the AC.
Principle 13: Internal Audit
Given the manageable volume of transactions, nature of business and concentration of businesses in Hong Kong and the
People’s Republic of China, in addition to Baker Tilly Consultancy (Singapore) Pte Ltd, the Company has also engaged
Shenzhen Tianying Certified Public Accountants, an independent CPA firm to carry out internal audit works based on an
internal audit plan which is reviewed and approved by the AC. The AC will assess periodically, the adequacy of internal
control function in terms of resources needed and its appropriate standing within the Group.
The internal auditor reports to the Chairman of the AC annually.
The AC annually reviews the adequacy and effectiveness of the Company’s internal audit function. The AC is of the view
that the internal audit function is adequately resourced to perform its functions and maintains its independence from the
activities that it audits.
Principle 14: Shareholder Rights
The Company’s corporate governance practices promote the fair and equitable treatment to all shareholders. To facilitate
shareholders’ ownership rights, the Company ensures that all material information is disclosed on a comprehensive,
accurate and timely basis via SGXNET, in particular especially information pertaining to the Group’s business development
and financial performance which could have a material impact on the share price of the Company, so as to enable
shareholders to make informed decisions in respect of their investments in the Company.
Shareholders are informed of shareholders’ meetings through notices contained in annual reports or circulars sent to all
shareholders. These notices are also published in the local newspaper and posted onto the SGXNET.
All shareholders are entitled to attend the general meetings and are afforded the opportunity to participate effectively in
the general meetings. They are entitled to vote in accordance with the established voting rules and procedures.
The Articles of Association of the Company allow each shareholder to appoint up to two proxies to attend and vote at the
general meetings.
The Company presently does not allow corporations which provide nominee or custodial services to appoint more than
two proxies, pending the amendments to the Companies Act. For those who hold their shares through CPF nominees and
who are not registered as shareholders of the Company, they can attend the general meetings as observers.
