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COSCO Corporation (Singapore) Limited
STRATEGIC DEVELOPMENT COMMITTEE
The Strategic Development Committee (“SDC”) comprises the following directors, majority of whom is independent directors:
Wu Zi Heng (Chairman)
Non-Independent Executive
Li Yun Peng
Non-Independent and Non-Executive
Tom Yee Lat Shing
Non-Executive Lead Independent
Wang Kai Yuen
Non-Executive Independent
Er Kwong Wah
Non-Executive Independent
Ang Swee Tian
Non-Executive Independent
The Board acknowledges the importance of strategic planning and development. SDC assists the Board in fulfilling its
responsibilities for developing, evaluating and monitoring the Company’s long and short-term strategic goals. The SDC operates
at the Board level but does not assume the Board’s governance accountability or to make final strategic decisions. The SDC
acts solely to address and develop current and future strategy-related issues. It has the responsibility for creating and driving
the Company’s strategy development and planning and Management takes responsibility for implementing the Company’s
strategies after the SDC received approval from the Board. The SDC did not hold any meeting during the financial year because
several strategies that were being developed by the Management for SDC’s review have yet to be finalized. The SDC will hold
meeting once the needs arise.
The SDC has the following authority and responsibilities:
a)
Review and develop Company Strategies:
Meet with Management periodically to review, develop and evaluate the
Company’s evaluation and implementation of its business strategy;
b)
Provide Resource Support:
Support the Board or Management in the evaluation and/or refining of the Company’s
strategic plans;
c)
Assess Progress:
Review and assess the status of implementation of the Company’s business strategy and whether the
results are consistent with the goals of the strategic plan as adopted by the Board; and
d)
Recommend Improvements:
Recommend areas of improvement and provide feedback to the Board and Management
regarding the overall success of the business strategy.
CHAIRMAN AND CHIEF EXECUTIVE OFFICER
Principle 3
Mr Li Yun Peng and Capt Wu Zi Heng, who are not related to each other, are respectively the Chairman of the Board and the
President of the Company. The roles of Chairman and the President undertaken by separate persons will create a clear division of
responsibilities and maintain an effective oversight.
The Chairman is responsible for the workings of the Board, ensuring the integrity and effectiveness of its governance process. In
his absence, his appointed alternate would act on his behalf.
The President is the most senior executive in the Company and has full executive responsibilities over the business directions
and operational decisions of the Group. He works closely with the Board to implement the policies set by the Board to realise
the Group’s vision.
CORPORATE
GOVERNANCE
Corporate Gover nance and Transparency
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