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CORPORATE GOVERNANCE
Immediate Family Members of Director or the CEO
Save as disclosed below, no other employee whose remuneration exceeded S$50,000 during the fnancial year under review is an immediate
family member of any Director or the CEO.
Salary
& CPF
Fixed
Bonus
Performance
Bonus
Other
Benefits
Directors’
Fee Total
Band I: Below $ 250,000
Philip Chow Phee Liat* 85% – 15% – – 100%
* Philip Chow Phee Liat is the brother of Executive Director and Deputy Chief Executive Offcer, Chow Hui Shien.
Employee Share Schemes
The Company has in place the Old Chang Kee Performance Share Scheme. More information is set out on page 45 of this Annual Report. No
shares have been granted pursuant to the Old Chang Kee Performance Share Scheme to date.
Performance Conditions
Besides a basic salary and a fxed bonus, the Executive Directors and key executives are entitled to variable performance bonuses, which are
dependent on the annual proft of our Group and individual performance targets. The variable performance bonuses are paid to the Executive
Directors and Key Executives who have met their respective performance targets for the fnancial year ended 31 March 2014.
There are no termination, retirement or any post-employment benefts that may be granted to Directors and key executives.
Accountability and Audit
Principle 10 – Accountability
The Board is accountable to the shareholders while the Management is accountable to the Board. Therefore, the Board takes adequate steps to
ensure compliance with legislative and regulatory requirements, including requirements under the Catalist Rules.
The Management provides all members of the Board with management accounts which present a balanced and understandable assessment of
the Company’s performance, fnancial position and prospects on a quarterly basis. The Company will announce its fnancial results on a half-yearly
basis and disclose other relevant material information on the Company via SGXNET to the shareholders.
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Annual Report 2014 •