53
ANNUAL REPORT FY2015
Board Meetings:
Each Board member exercises equal responsibility in overseeing the business and affairs of the
Company and objectively takes decision in the interest of the Company.
The schedule of all Board and Board Committee meetings for the financial year is notified to all directors well in
advance. The Board meets quarterly. To cater to urgent substantial matters, the Board may convene meetings
on an ad-hoc basis.
The Company’s Articles of Association provides for the Board to conduct its meeting via teleconferencing or
videoconferencing on a timely basis when physical meeting is not possible. The Board and its sub-committees
may also make decision through circular resolutions in writing including by electronic means.
The Board is regularly updated on risk management, corporate governance and other major changes in the
regulatory requirements and financial reporting standards that are relevant to the Group.
Relevant new releases issued by the Singapore Exchange Securities Trading Limited (“SGX-ST”) and the
Accounting and Corporate Regulatory Authority (“ACRA”) are circulated to the Board.
Director Orientation:
A formal appointment letter is sent to all newly-appointed directors upon their appointment,
explaining, among other matters, their roles, obligations, duties and responsibilities as members of the Board. All
new directors are oriented by senior management with the Company’s and Group’s businesses and operations,
its significant financial, accounting and risk management issues, its principal officers and its independent
auditors.
Training:
All directors are informed of and encouraged to attend relevant courses conducted by the Singapore
Institute of Directors, Singapore Exchange Limited and relevant business and financial organisations. During the
year, the Company Secretary conducted detailed briefing on new disclosure requirement at Board meetings.
The Company has set aside funding and will be responsible for arranging and funding the training of directors.
Annually, the Company’s external auditors update the ARC on new and revised financial reporting standards
that are applicable to the Company and Group.
Number of Meetings:
During the financial year ended 31 December 2015 (“FY2015”), the Board held five
meetings as warranted by the particular circumstances. Telephonic attendance and conference via audio-
visual communication at Board’s meetings are allowed by the Company’s Articles of Association.
If a director is unable to attend a Board or Board Committee meeting, the director will receive all the meeting
papers so that he can review them and let the Chairman of the Board or Committee Chairman have his views,
which will be conveyed to other members at the meeting.
