One of the duties of the NC is to assess the qualifications of the appointed alternate directors to the Board. The Alternate
Directors of the current Board are:
Ma Hong Han
Alternate to Ma Zhi Hong
Li Man
Alternate to Wang Yu Hang
Ouyang Chao Mei
Alternate to Liang Yan Feng
All appointed Alternate Directors are based in Singapore and are familiar with the Group’s affairs and qualified to bear all the
duties and responsibilities of their respective principal directors, who are principally based in the People’s Republic of China.
The NC has also recommended that the following directors be nominated for re-election at the forthcoming AGM:
a)
Mr Wang Yu Hang pursuant to Article 104;
b)
Capt Wu Zi Heng pursuant to Article 98;
c)
Mr Ma Zhi Hong pursuant to Article 98;
d)
Mr Ang Swee Tian pursuant to Article 98; and
e)
Mr Tom Yee Lat Shing.
In making the recommendation, the NC has considered the directors’ overall contributions and performance. The Board
recommends the shareholders to approve the re-election of the said directors. The details of the proposed resolutions are
stipulated in the Notice of AGM.
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.
The NC has assessed the current Board’s performance to-date, as well as the performance of each individual Director and is
of the view that the performance of the Board as a whole and each individual Director were satisfactory.
Corporate Governance and Transparency
39
COSCO Corporation (Singapore) Limited
Annual Report 2015
