SINGAPORE MYANMAR INVESTCO LIMITED
| Annual Report 2016
28
CORPORATE GOVERNANCE
REPORT
Principle 6: Access to Information
Complete, adequate and timely information
Management recognizes the importance of ensuring the flow of complete, adequate and timely information to the
Directors on an ongoing basis to enable them to make informed decisions to discharge their duties and responsibilities.
To allow Directors sufficient time to prepare for the meetings, all Board and board committee papers are required to be
distributed to Directors one week in advance of the meeting. Directors have separate and independent access to the
Company Secretary and Management at all times. Any additional material or information requested by the Directors is
promptly furnished.
Management’s proposals to the Board for approval provide background and explanatory information such as facts,
resources needed, risk analysis and mitigation strategies, 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.
Management also provides the Board with management report on a quarterly basis. This report includes 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 Secretary
Directors have separate and independent access to the Company Secretary. The Company Secretary is responsible for,
among other things, ensuring that Board procedures are observed and that Company’s Constitution, relevant rules and
regulations, including requirements of the Securities and Futures Act, Companies Act and SGX-ST’s Listing Manual, are
complied with. The Company Secretary also assists the Chairman and the Board in implementing and strengthening
corporate governance practices and processes, with a view of enhancing long term shareholder value.
The Company Secretary assists the Chairman in ensuring good information flows within the Board and its board
committees and between Management and NEDs. The Company Secretary also facilitates the orientation and assists with
professional development as required.
The Company Secretary attends and prepares minutes for all Board meetings. As secretary for all board committees,
the Company Secretary assists in ensuring coordination and liaison between the Board, the board committees and
Management. The Company Secretary assists the Chairman of the Board, the Chairman of board committees and
Management in the development of the agendas for the various Board and board committee meetings.
The appointment and the removal of the Company Secretary are subject to the Board’s approval.
Independent professional advice
The Board has a process for Directors, either individually or as a group, in the furtherance of their duties, to take
independent professional advice, if necessary, at the Group’s expense.
REMUNERATION MATTERS
Principle 7: Procedures for Developing Remuneration Policies
The RC comprises the following three members, all of whom are Independent Non-Executive Directors:
a.
Mr Wee Sung Leng (RC Chairman)
b.
Mr Wong Yen Siang
c.
Mr Fong Sing Chak Jack
