Relations”with theaimof providing
further assistance to shareholders in
their investment activities.
TheCompany’sConstitutionallows
all shareholders toappoint up
to twoproxies toattendgeneral
meetings and voteon their behalf.
In thecaseof shareholders
whoare relevant intermediaries
suchas corporationsholding
licences inprovidingnominee
andcustodial services andCPF
Boardwhichpurchases shareson
behalf ofCPF investors, theyare
entitled toappointmore than two
proxiespursuant toCompanies
(Amendment) Act 2014whichcame
into forceon3January2016.
Principle15:
Communicationwith
Shareholders
TheCompany is committed to
engaging its shareholders and
the investingcommunity and
providingpertinent and accurate
information about theCompany
in aneffective, fair and timely
manner. TheCompanyhas put in
place an Investor Relations Policy
that promotes this.
TheCompanydoes not practice
selectivedisclosure. Allmaterial
information includingquarterly
results announcements, are
disclosed regularly and in a
timelymanner via SGXNet and
theCompany’swebsite. The
Chairmanof theBoard,Mr Lim
Ho Seng, spearheads the Investor
TheACensures that independent
investigations and any appropriate
followup actions arecarriedout.
Details of this policyhavebeen
disseminated andmade available
to all employees of theGroup.
Todate, therewereno reports
received through thewhistle
blowingmechanism.
Principle13:
Internal Audit
TheCompanyhas outsourced
its internal audit function to
PricewaterhouseCoopers (“PwC”).
TheBoardhas approved the
recommendationof theAC to
re-engagePwC as internal auditor
(“IA”) of theCompany. The IAhas
access to all records including
access toAC. The IA’s primary
lineof reportingwouldbe to the
ACChairman and administratively
to theCFO.
The IA function is independent
of the activities it audits. The IA,
PwC, is a corporatemember of
the Instituteof Internal Auditors
Singaporewithprofessionals
with relevant qualifications and
experience. The auditwork is
carriedout according to the
standards set by internationally
recognisedprofessional bodies
including theStandards for the
Professional Practiceof Internal
Auditingof the Instituteof Internal
Auditors.
TheAC reviews and approves the
internal audit plan and reviews the
scope and results of internal audit
procedures issuedby the IA.
During FY2017, the IAcompleted
an internal audit reviewof the
Groupon keyprocesses such as
ERM, inventory control, investment
and information technology. The
findings and recommendations
of the IA,Management’s
responses andManagement’s
implementations havebeen
reviewed and approvedby theAC.
SHAREHOLDERSRIGHTSAND
RESPONSIBILITIES
Principle14:
ShareholderRights
TheGroup recognises the
importanceofmaintaining
transparencyandaccountability
to its shareholders. TheBoard
ensures that theCompany’s
shareholders are treated fairly
andequitablyand the rightsof all
investors, includingnon-controlling
shareholders areprotected.
Shareholders are informedof any
changes in theGroup’sbusiness
that are likely tomateriallyaffect
the valueof theCompany’s shares.
TheGroupensures that
shareholdershave theopportunity
toparticipateeffectively inand
voteat generalmeetings. The
relevant rules including the voting
procedures are set out in thenotice
of generalmeetings. The link to
SGX-ST’s investor guides
“An Investor’sGuide toPreparing for
AnnualGeneralMeetings” and “An
Investor’sGuide toReadingAnnual
Reports” hasbeen includedon the
Company’swebsiteunder “Investor
. 6 5
ANNUAL
REPORT
20 1 7
THE BE ST
I N US
