25
A N N U A L R E P O R T 2 0 1 6
CORPORATE
GOVERNANCE
Guideline
Code and/or Guide Description Company¡¯s Compliance or Explanation
(c) material acquisitions and disposals of assets;
(d) material interested person transactions;
(e) major financing, corporate financial restructuring plans and changes in the capital of
the Company;
(f)
approval of financial results announcements, annual reports and audited financial
statements; and
(g) the proposal of dividends and other returns to shareholders.
1.6
(a) Are new Directors given formal
training? If not, please explain
why.
The Board ensures that all newly appointed Directors undergo a familiarisation programme
where the Director would be briefed on the Group¡¯s history, strategic direction,
governance practices, business and organisation structure, as well as the expected
duties and obligations of a director of a listed company, details of which are set out in a
formal appointment letter provided to such newly appointed Directors. To attain a better
understanding of the Group¡¯s business, the Director will also be given the opportunity to
visit the Group¡¯s operational facilities and meet with key management personnel.
The Company will also provide training for first-time directors in areas such as accounting,
legal and industry-specific knowledge as appropriate.
(b) What are the types of
information and training
provided to (i) new Directors
and (ii) existing Directors to
keep them up-to-date?
The Company funds and arranges for the Directors to receive regular training. In this
connection, the Company¡¯s external auditors conducted a briefing session for the Board
during FY2016 on the changes to the accounting standards, laws, and regulations during
the quarterly AC meetings. The Company Secretary also briefed the Board on the new
regulatory developments, which included topics such as the new enforcement powers
of the SGX-ST, the financial reporting surveillance programme, the enhanced auditor¡¯s
report and sustainability reporting during FY2016. Mr Zainudin Bin Nordin, who was newly
appointed to the Board on 28 July 2015, attended the ¡°Board and Director Fundamentals¡±
course conducted by the Singapore Institute of Directors.
