NOMINATING COMMITTEE
The NC comprises five Directors, majority of whom including the Chairman is independent. The NC members are as follows:
Wang Kai Yuen (Chairman)
Non-Executive Independent
Wu Zi Heng
Non-Independent Executive
Tom Yee Lat Shing
Non-Executive Lead Independent
Er Kwong Wah
Non-Executive Independent
Ang Swee Tian
Non-Executive Independent
The principal functions of the NC are to:
a)
identify, review and recommend candidates for appointment as Directors of the Company and appointment to the
Board committees as well as to senior management positions in the Company;
b)
assess the qualifications of the proposed alternate directors to the Board;
c)
evaluate the effectiveness of the Board as a whole and assess the contribution by each Director, to the effectiveness
of the Board;
d)
determine annually whether or not a Director is independent;
e)
make recommendations to the Board on re-appointment of Board and Board committee members; and
f)
the review of training and professional development programs for the Board.
During the financial year, the NC held one (1) meeting and had on various occasions used circular resolutions in writing to resolve
certain decisions which are then recommended to the Board. The NC had reviewed the nominations for the appointments of
those directors that were appointed during the financial year for recommendation to the Board to approve the appointments.
In arriving at their decisions on the new appointments, the NC took into consideration the incumbents’ academic qualifications,
experience, their individual field of expertise and their potential contributions to the effectiveness of the Board. The NC also
met and determined the independence of the Directors is in line with the undertakings described in the CG Code 2012. It also
reviewed the composition of the Board and the Board Committees in relation to the needs of the Group.
The NC is of the opinion that the Board is able to exercise objective judgment on corporate affairs independently and no
individual or small group of individuals dominates the Board’s decision making process.
The NC assesses and recommends to the Board whether retiring Directors are suitable for re-election.
During the financial year under review, the NC has ascertained that all Directors, including those who have multiple board
representations, have devoted sufficient time and attention to the Group’s affairs and have discharged their duties and
responsibilities adequately. As time requirements of each director are subjective, the NC has decided not to fix a maximum limit
on the number of directorships a director can hold. The NC considers that the multiple board representations held presently by
its Directors do not impede their respective performance in carrying out their duties to the Company.
The list of current directorships in other listed companies and/or other principal commitments held by the respective Directors
are set out on page 57 of this Annual Report.
Corporate Governance and Transparency
CORPORATE
GOVERNANCE
38
COSCO Corporation (Singapore) Limited
Annual Report 2015
