SINGAPORE MYANMAR INVESTCO LIMITED
| Annual Report 2016
31
CORPORATE GOVERNANCE
REPORT
Remuneration of top five key management personnel
The remuneration paid to or accrued to the top five key management personnel (who are not Directors or the CEO) for
FY2016 is as follows:-
Name of Key Executives
Base Salary
Bonus
Benefits in kind
Total
S$250,000 to S$500,000
Lo Chi Chung Alan
Andrew Shepherd*
Below S$250,000
John Pike
Tony Pretorius
(appointed on 1 January 2016)
Cher Soon Eng Lucy
(appointed on 2 November 2015)
100%
87%
75%
82%
100%
–
–
–
–
–
–
13%
25%
18%
–
100%
100%
100%
100%
100%
*
Andrew Shepherd resigned on 1 April 2016.
The remuneration of each individual Director and key executive is not fully disclosed as the Company believes that
disclosure may be prejudicial to its business interests given the highly competitive environment it is operating in. The RC
has reviewed the practice of the industry in this regard, weighing the advantages and disadvantages of such disclosure.
The aggregate total remuneration paid to or accrued to key executives (who are not Directors or the CEO) for FY2016 is
US$1,194,188 (approximately equivalent to S$1,607,974).
There is no employee in the Group who is related to a Director or the CEO whose remuneration exceeds S$50,000 for
FY2016.
The RC has reviewed and approved the remuneration packages of the Directors and key executives, having regard to their
contributions as well as the financial performance and commercial needs of the Group and has ensured that the Directors
and key executives are adequately but not excessively remunerated.
There are no termination, retirement or any post-employment benefits to Directors and key executives.
The SWH Performance Share Plan was adopted at an Extraordinary General Meeting on 30 July 2014. The SWH
Performance Share Plan is administrated by the RC and contemplates the award of fully paid shares, free of charge, when
or after prescribed performance targets are achieved by the selected employees of the Group. No shares have been
issued under this plan during the financial year under review.
AUDIT COMMITTEE
Principle 10: Accountability and Audit
The Group recognises the importance of providing the Board with accurate and relevant information on a timely basis.
Hence, Board members receive quarterly financial and business reports from Management. Such report keep the
Board members informed of the Company’s and the Group’s performance, position and prospects and consist of the
consolidated profit and loss accounts, analysis of sales, operating profit, pre-tax profit by operating segments compared
against budgets, together with explanations for significant variances for the month and year to date.
The Board reviews and approves the results as well as any announcements before its release. The Board provides
shareholders with half yearly and annual financial reports. Results for the first half year are released to shareholders within
45 days from the end of the half year. Annual results are released within 60 days from the financial year end. In presenting
the annual and half yearly results to shareholders, the Board aims to provide shareholders with a balanced and clear
assessment of the Group’s position and prospects. The Board also ensures timely and full disclosure of material corporate
developments to shareholders.
