MTQ Corporation Limited - Annual Report 2015 - page 27

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/ MTQ CORPORATION LIMITED / ANNUAL REPORT 2014/2015
The dates of initial appointment and last re-election of the Directors are set out below:
Director Appointment
Date of
Initial Appointment
Date of
Last Re-election
Kuah Kok Kim2 Chairman 01.01.1997 25.07.2014
Kuah Boon Wee Executive Director 10.10.2006 26.07.2013
Nicholas Campbell Cocks Lead Independent Director 01.10.2010 25.07.2014
Chew Soo Lin1 Independent Director 18.05.2012 27.07.2012
Christopher Ho Han Siong Independent Director 30.10.2007 26.07.2013
Huang Yuan Chiang1 Independent Director 08.08.2001 27.07.2012
Ong Choo Eng2 Independent Director 09.09.1997 25.07.2014
1 Mr. Chew Soo Lin and Mr. Huang Yuan Chiang are due for re-election at the forthcoming Annual General Meeting, pursuant to Article
91 of the Company’s Articles of Association.
2 Mr. Kuah Kok Kim and Mr. Ong Choo Eng are due for re-election at the forthcoming Annual General Meeting, pursuant to Section
153 (6) of the Companies Act, Cap. 50.
The Board is of the opinion that it has sufficient independence and objectivity in ensuring that the appointment and
re-election of Directors is formal and transparent.
On an annual basis, the Board will also assess their performance as a whole based on the achievement of the Group’s
strategic and long-term objectives. While the Code recommends that the Directors be assessed individually, the Board
felt that it is more appropriate and effective to evaluate the Board as whole bearing in mind that each board member
contributes in different ways. A director would have been appointed or re-nominated on the strength of his calibre and
relevant experience that could contribute to the proper guidance of the Group’s businesses. Management can also
access them for guidance or exchange of views outside the formal environment of Board meetings.
As part of the Board effectiveness evaluation for the financial year ended 31 March 2015, all the Directors are requested to
complete a Board Evaluation Questionnaire designed to seek their view on the various aspects of the Board performance.
The completed evaluation forms are to be returned to the Lead Independent Director for collation and consolidated
responses were presented to the Board for discussion and determining areas for improvement and enhancement of the
Board effectiveness.
Principle 6: Access to information
In order to ensure that the Board is able to fulfil its responsibilities, management provides monthly management accounts,
complete with relevant analysis and commentaries of the performance, to the Board on a timely basis. Board reports,
including financial information and annual budget, significant corporate issues and management proposals requiring
the approval of the Board, are circulated to all Directors prior to the Board meetings. In respect of budgets, any material
variances between the projections and actual results are also highlighted and explained. In addition, the Directors can, in
furtherance of their duties, seek independent professional advice, if necessary, at the Company’s expense.
The Directors also have separate and independent access to the Management as well as the Company Secretary. The
Company Secretary is the Company’s chief administrative officer and is responsible for the Company’s compliance with
its statutory duties. The Company Secretary’s key role is to ensure that Board procedures are followed and that applicable
rules and regulations are complied with. In particular, the Company Secretary will also provide the Board with guidance on
procedures under the Companies Act, Cap. 50 (the “Act”), the Memorandum and Articles of Association of the Company,
the Listing Rules of Singapore Exchange Securities Trading Limited (“SGX-ST”), Securities and Futures Act and other
relevant regulatory requirements.
CORPORATE GOVERNANCE REPORT