Role of the Board
The Board’s primary role is to protect and enhance long-term shareholder value by establishing a framework of prudent and effective
controls in managing risks. To fulfill this role, the Board is responsible for the overall corporate governance of the Group including setting
its strategic direction, establishing goals for the Management and monitoring the achievement of these goals. As part of its responsibility
in discharging its duty, the Board also performs the following roles:-
(a)
reviewing the performance of management by establishing management’s goals and monitoring the achievement of those goals;
(b)
setting the Company’s values and standards (including ethical standards) to uphold good corporate governance; and
(c)
ensuring that obligations to shareholders and other stakeholders are understood and met in order to achieve sustainability.
All Directors objectively discharge their duties and responsibilities at all times as fiduciaries in the interest of the Company.
Matters Requiring Board Approval
The Board’s approval is required for decisions involving areas such as strategic plans, key operational initiatives, material acquisition
and disposal of assets, capital-related matters including financial re-structure, market fund-raising, share issuances, interim dividends
and any investment or expenditures exceeding set material limit.
While matters relating in particular to the Company’s objectives, strategies and policies require Board’s direction and approval, the
Management is responsible for the day to day operation and administration of the Company in accordance with the objectives, strategies
and policies set by the Board.
Director Orientation and Training
All directors have many years of corporate experience and are familiar with their duties and responsibilities as directors. Upon
appointment, each director will receive a letter of appointment explaining his duties and obligations as a member of the Board. In
addition, orientation briefings are arranged for newly appointed directors to familiarize them on the business activities of the Group and
its strategic directions, as well as their duties and responsibilities as directors. The Board is also kept abreast regularly on new laws,
regulations and commercial developments by the Management and its appointed professionals. The Chairman will make the necessary
arrangements for the briefings, informal discussions or explanations required.
Name of Director
Appointment
Date of appointment
/ Date of last
re-election
Current directorships
in other listed
companies and other
principal commitments
Past directorships in other
listed companies and
principal commitments
over the preceding 3 years
Khor Poh Hwa
Independent Director
Chairman- NC and BSC
Member – ARMC and RC
30 Nov 2009 /
25 Apr 2013
Non-Executive
Chairman and Director
of Keppel Infrastrucre
Fund Management Pte
Ltd
Non-Executive
Director- Keppel
Telecommunications &
Transportation Ltd
Director-Keppel Land
Limited (resigned in 2012)
Kee Guan Chua
Executive Director
26 Mar 2012 /
25 Apr 2012
Nil
Nil
Chua Sey Kok
Executive Director
8 Aug 2014 /
N.A.
Nil
Nil
CORPORATE GOVERNANCE REPORT
Hock Lian Seng Holdings Limited
Annual report 2014
14
