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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
(b) What were the performance
conditions used to determine
their entitlement under the
short-term and long-term
incentive schemes?
The following performance conditions were chosen for the Group to remain competitive
and to motivate the Executive Directors and key management personnel to work in
alignment with the goals of all stakeholders:
Performance Conditions
Short-term and long-term Incentives
(such as performance bonus)
Qualitative
1. Leadership and people development
2. Brand development
3. Overseas business development
4. Current market and industry practices
5. Macro-economic factors
Quantitative
1. Annual profit before and after tax
2. Return on equity
3. Relative financial performance of the
Group to its industry peers
4. Sales growth
(c) Were all of these performance
conditions met? If not, what
were the reasons?
Yes, the RC has reviewed and is satisfied that the performance conditions were met for
FY2016.
ACCOUNTABILITY AND AUDIT
Accountability
10.1
10.2
10.3
How does the Company ensure
accountability to its shareholders?
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,
financial position and prospects on a quarterly basis. The Company announces its financial
results on a quarterly basis and discloses other relevant material information on the
Company via SGXNET to the shareholders.
