Year ended 31 March 2016
DIRECTORS’
STATEMENT
SINGAPORE MYANMAR INVESTCO LIMITED
| Annual Report 2016
39
4.
Arrangements to enable directors to acquire benefits by means of the acquisition of shares and debentures
Neither at the end of the reporting year nor at any time during the reporting year did there subsist arrangements
to which the company is a party, being arrangements whose objects are, or one of whose objects is, to enable
directors of the company to acquire benefits by means of the acquisition of shares in or debentures of the company
or any other body corporate.
5.
Options
During the reporting year, no option to take up unissued shares of the company or other body corporate in the
group was granted.
During the reporting year, there were no shares issued by virtue of the exercise of an option to take up unissued
shares.
At the end of the reporting year, there were no unissued shares under option.
6.
Independent auditor
RSM Chio Lim LLP has expressed its willingness to accept re-appointment.
7.
Report of audit committee
The members of the audit committee at the date of this report are as follows:
Wong Yen Siang
–
Lead Independent Director, Chairman of Audit Committee
Wee Sung Leng
–
Independent Director
Fong Sing Chak Jack
–
Independent Director
The audit committee performs the functions specified by section 201B(5) of the Act. Among other functions, it
performed the following:
Reviewed with the independent external auditors their audit plan;
Reviewed with the independent external auditors their evaluation of the company’s internal accounting
control, and their report on the financial statements and the assistance given by the company’s officers to
them;
Reviewed the financial statements of the group and the company prior to their submission to the directors of
the company for adoption; and
Reviewed the interested person transactions (as defined in Chapter 9 of the Singapore Exchange Securities
Trading Limited‘s Listing Manual).
Other functions performed by the audit committee are described in the report on corporate governance included
in the annual report of the company. It also includes an explanation of how independent auditor objectivity and
independence is safeguarded where the independent auditors provide non-audit services.
The audit committee has recommended to the board of directors that the independent auditors, RSM Chio Lim LLP,
be nominated for re-appointment as independent auditors at the next annual general meeting of the company.
