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SINGAPORE (BOARD MATTERS (Board membership (Re-appointment of directors,…
SINGAPORE
INTRODUCTION
Leading financial centres in Asia
Code of Corporate Governance
To promote a high standard of corporate governance amongst listed companies in Singapore
To ensure its relevance to a changing investor environment
Established a thriving financial centre
Strong corporate governance
Maintaining confidence in our listed companies
Enhancing Singapore’s global reputation
Critical to protecting the interest of the investing public
REMUNERATION MATTERS
Procedures for developing remuneration policies
A formal and transparent procedure
Level and mix of remuneration
Long-term interest and risk policies
Key management personnel to successfully manage the company
Directors to provide good stewardship of the company
Disclosure of remuneration
Clear disclosure of its remuneration policies
The procedure for setting remuneration
Level and mix of remuneration
Provide disclosure in relation
ACCOUNTABILITY AND AUDIT
Risk management and internal controls
Maintains a sound system
Determine the nature
Extent of the significant risks
Audit committee
Establish an Audit Committee (“AC”) with written terms of reference
Accountability
Understandable assessment
Present a balanced
Internal audit
Establish an effective internal audit function
BOARD MATTERS
Chairman and Chief Executive Officer
Clear division of responsibilities between the leadership
Board membership
Re-appointment of directors
Formal and transparent process for the appointment
Board composition and guidance
Able to exercise objective judgement on corporate affairs
Board performance
Formal annual assessment of the effectiveness
The Board’s conduct of affairs
Responsible for the long-term success
Access to information
Complete, adequate and timely information
SHAREHOLDER RIGHTS AND RESPONSIBILITIES
Communication with shareholders
Actively engage their shareholders
Put in place an investor relations policy
Conduct of shareholder meetings
Encourage greater shareholder participation
Shareholder rights
Recognize, protect, and facilitate the exercise of shareholders’ rights
Continually review and update
Treat all shareholders fairly and equitably