Sustainability
Annual Report 2016
B
akerTechnologyLimited (the“Company”or“BakerTech”)and itssubsidiaries (collectively,
the“Group”)arecommittedtoobservinghighstandardsofcorporategovernanceandpromoting
corporate transparencyaccountabilityand integrity toenhance long-termvalueforshareholders.
TheCompany ranked 23rd amongst 631Singapore-listed companies in theAugust 2016Singapore
GovernanceandTransparency Index (SGTI) andwaspresentedwithaMerit awardat the17thSIAS
Investors’ChoiceAwards 2016 - SingaporeCorporateGovernanceAward for its outstanding efforts
in improvingcorporategovernance.
This report sets out the Company’s corporate governance practices for the financial year ended 31
December 2016 (“FY2016”), with specific reference to the principles and guidelines of theCode of
CorporateGovernance2012(the“Code”).TheCompanyhasadhered tosuchprinciplesandguidelines
of theCode,whereapplicable,andhas identifiedandexplainedareasofnon-compliance in this report.
BOARDMATTERS
Principle 1:Board’sConduct ofAffairs
Board’sRole
TheBoardoversees theoverallmanagementandbusinessaffairsof theGroup.TheBoardalsosets the
Group’svaluesandstandards toensureobligations toshareholdersandotherstakeholdersareunderstood
andmet. Itsprimary functions includeapproving thebroadpolicies, strategiesandfinancialobjectives
of theGroup andmonitoring the performance ofManagement, considering the sustainability issues
as part of its strategic formulation, overseeing the processes for evaluating the adequacy of internal
controls,riskmanagement,financialreportingandcomplianceandassumingresponsibilityforcorporate
governance.TheBoarddelegates the formulationofbusinesspoliciesandday-to-daymanagement to
theExecutiveDirectors.
Independent Judgment
In discharging their fiduciary duties, all Directors are expected to exercise independent judgment
andmakedecisions objectively in thebest interest of theCompany.ADirectorwho is interested in a
transactionorproposed transactionwilldeclarehis interest andabstain fromdeliberationanddecision
making. Independence is an important criterion for the Nominating Committee’s evaluation of the
performanceof eachDirector and the individualDirector’s self-assessment.
Delegation ofAuthority toBoardCommittees
The Board is supported by three Board Committees, namely theAudit Committee (“AC”), the
NominatingCommittee (“NC”) and theRemunerationCommittee (“RC”), eachwith itsown specific
terms of reference setting out the authority and duties of theBoardCommittees and all the terms of
reference for theBoardCommittees areapprovedby theBoard.
CORPORATE
GOVERNANCE
REPORT
SUSTAINABILITY
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