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CORPORATE GOVERNANCE REPORT
The total amount paid to the top 5 executives during the financial year ended 31 March 2015 is S$4.2 million.
Other than Mr. Kuah Kok Kim, and Mr. Kuah Boon Wee, no employee of the Company and its subsidiaries was an
immediate family member of a Director or the Group CEO and whose remuneration exceeded S$50,000 during the
financial year ended 31 March 2015.
ACCOUNTABILITY AND AUDIT
Principle10: Accountability
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.
The Board reviews legislative and regulatory compliance reports from the management to ensure the Group complies with
the relevant requirements. In line with the Listing Rules of SGX-ST, the Board provides a negative assurance statement to
the shareholders in its quarterly financial statements announcements, confirming to the best of its knowledge that nothing
had come to the attention of the Board which might render the financial statements false or misleading in any material
aspect. For the financial year under review, the Group CEO and Group CFO have provided assurance to the Board on the
integrity of the Group’s financial statements and the adequacy and effectiveness of the Group’s risk management and
internal controls systems.
Shareholders are informed of the Group’s quarterly and full year financial reports and other various disclosures of corporate
developments in a timely manner through the announcements made to SGX-ST via SGXNET.
Principle 11 : Audit Committee
Principle 12 : Internal Controls
Principle 13 : Internal Audit
Audit Committee
The Audit Committee comprises 3 non-executive Directors, all of whom are independent Directors:
Chew Soo Lin (Chairman)
Christopher Ho Han Siong
Huang Yuan Chiang
The Audit Committee has been set up to perform the functions required pursuant to Section 201 B(5) of the Companies
Act, the Listing Rules set out by SGX-ST and the Code. The Board is of the view that members of the Audit Committee
have the requisite accounting and financial management expertise or experience to carry out their duties. The Audit
Committee is guided by its terms of reference, which has been in line with the Code.
The Audit Committee meets at least four times a year and plays a key role in assisting the Board to ensure that the
financial reporting and internal accounting controls of the Group meet the highest standards. Changes to accounting
standards which have a direct impact on financial statements will be highlighted to the Audit Committee from time to time
by the external auditor.
The Audit Committee is empowered to investigate any matter within its written terms of reference, including matters
relating to the Group’s accounting, auditing, internal controls and/or financial practices brought to its attention. The Audit
Committee has full discretion to invite any Director and/or executive officer to attend its meetings. The Audit Committee
also has full access to records, resources and personnel, to enable it to discharge its functions properly.
