39
Annual Report 2014
BOARD PERFORMANCE
Principle 5
A formal assessment process is in place to assess the effectiveness of the Board as a whole and the contribution
by each Director to the effectiveness of the Board. The NC uses objective and appropriate quantitative and
qualitative criteria to assess the performance of the Board as a whole and the contribution of each Director to the
effectiveness of the Board. Assessment parameters include evaluation of the Board’s access to information, risk
management, accountability, the Board’s performance in relation to discharging its principal functions, communication
with management and stakeholders, the business performance of the Company, the quality of Board processes, the
attendance records of the Directors at Board and Committee meetings and the level of participation at such meetings.
The evaluation of the Board is conducted annually. As part of the process, the Directors will complete appraisal forms
which are collated by the Company Secretary. The Company Secretary will then review the results of the appraisal and
present the results to the Chairman of the NC who will then present a report to the Board.
An individual assessment of each Director is also undertaken annually. The process of the assessment is through self-
assessment where each Director will complete appraisal forms which are collated by the Company Secretary. The
Company Secretary consolidates the appraisal forms and presents the results to the Chairman of the NC who will then
present a report to the Board.
ACCESS TO INFORMATION
Principle 6
The Board is provided with relevant management information regularly to help them carry out their responsibilities
effectively. In addition, all relevant information on material events and transactions are circulated to Directors as and
when they arise.
All Board members have separate and independent access to the advice and services of the Company Secretary. The
Company Secretary attends all Board and Board committees meetings during the financial year. He is responsible for
ensuring that Board procedures are followed and that applicable rules and regulations such as the SGX-ST Listing
Manual (“Listing Manual”), Companies Act (Chapter 50), Securities and Futures Act (Chapter 289) and the Articles
of the Company and all governance matters are complied with. The appointment and the removal of the Company
Secretary are subject to the Board’s approval.
All Board members also have separate and independent access to the senior management of the Company and the
Group. Board members are aware that they, whether as a group or individually, in the furtherance of their duties, can
take independent professional advice, if necessary, at the Company’s expense.
Corporate Governance and Transparency
