CORPORATE
GOVERNANCE
REPORT
Annual Report 2016
EY has confirmed that they are registered with the Accounting and Corporate Regulatory
Authority. The Company has complied with Rule 712 and 715 of the ListingManual of the
SGX-ST in relation to the appointment of auditors.Accordingly, theAC has recommended to
theBoard thenominationofEY for re-appointment as external auditor at the forthcomingAGM.
TheAC has reviewed the key audit matters disclosed in the independent auditor’s report and
is of the view that there is no material inconsistency between the audit procedures adopted
by the independent external auditor andManagement’s assessment.
The Company has a Code of Conduct andGift Policywhich has been adopted since 2014 to
regulate the ethical conduct of its employees. TheCode of Conduct also extends toDirectors
of the Company and all consultants and agents engaged by the Group for the purpose of
representing theGroup in certain areas of works.
Whistle-blowing Policy
TheCompanyhas inplace aWhistle-blowingPolicy topromote the highest standardofwork
ethics and to eliminate unethical, illegal, corrupt andwasteful behavior and acts. The policy
provides an independent feedback channel throughwhichmatters of concern about possible
improprieties in matters of financial reporting, fraudulent behaviour and other matters may
be raised by employees and any other persons directly to anyACmember in confidence and
in good faithwithout fear of reprisals.
ThePolicy establishes theprocesses bywhichwhistleblowing complaints arehandled and the
confidentiality and identity of thewhistleblower ismaintained and protected.
The AC ensures that independent investigations and any appropriate follow up actions are
carriedout.Details of this policyhavebeendisseminated andmade available to all employees
of theGroup.Todate, therewereno reports received through thewhistleblowingmechanism.
Principle 13: InternalAudit
TheCompanyoutsources its internal audit function to the independent internal auditors (“IA”),
PricewaterhouseCoopers. The IA’s primary line of reporting would be to theACChairman
and administratively to the CFO.
The audit work carried out is according to the standards set by internationally recognised
professional bodies including theStandards for theProfessional Practice of InternalAuditing
of the Institute of InternalAuditors.
The AC reviews and approves the internal audit plan and reviews the scope and results of
internal audit procedures issued by the IA.
SUSTAINABILITY
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Sustainability
