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COSCO Corporation (Singapore) Limited
COSCO Corporation (Singapore) Limited (“COSCO Corporation” or the “Company”) and its subsidiaries (together, the “Group”)
believe that good corporate governance is essential to facilitate effective, entrepreneurial and prudent management that can
deliver the long-term success of the Company.
The Board of Directors (the “Board”), guided by the Singapore Code of Corporate Governance 2012 (the “CG Code 2012”) issued
by the Monetary Authority of Singapore (the “MAS”), remains committed to the principles and guidelines stated therein to
achieve high standards of business integrity, ethics and professionalism across all its activities. The Company complies with all
key principles and guidelines set out in the CG Code 2012.
A. BOARD MATTERS
THE BOARD’S CONDUCT OF AFFAIRS
Principle 1
Governance is overseen by the Board together with Management, who is led by the Group President and accountable to
the Board. All directors make decisions objectively in the best interests of the Company and have exercise due diligence and
independent judgment in so doing.
The principal functions of the Board apart from its statutory responsibilities are:
a) to provide entrepreneurial leadership; approve the strategic objectives, corporate policies and authorisation matrix of
the Company; and ensure that the necessary financial and human resources are in place for the Company to meet its
objectives;
b) to approve the nominations to the Board and appointment of key management, as may be recommended by the
Nominating Committee;
c) to oversee the processes for risk management, financial reporting and compliance and evaluate the adequacy of internal
controls; approve annual budget, key operational matters, major acquisition and divestment proposals, major funding
proposals of the Company;
d) to assume responsibility for corporate governance framework of the Company and establish a framework of prudent
and effective controls which enables risks to be assessed and managed, including safeguarding of shareholders’ interests
and company’s assets;
e) to review management performance;
f ) to identify the key stakeholder groups and recognise that their perceptions affect the Company’s reputation;
g) to set values and standards (including ethical standards) of the Company and ensure that obligations to shareholders
and others are understood and met; and
h) to promote corporate social responsibilities throughout the Group and include environmental and social factors as part
of its strategic formulation.
CORPORATE
GOVERNANCE
Corporate Gover nance and Transparency