FRONTLINE COVER FA 070606 CR2.indd

frontline technologies corporation ltd
annual report 2006 29
> corporate governance report (cont’d)
1. Principle I: The Board’s Conduct Of Its Affairs
Frontline has an effective Board to lead and control the Company. The Board’s primary mission is to protect and
enhance the long-term shareholders’ value.
Apart from the Board’s statutory responsibilities, the principal functions of the Board, are:
a) to review and approve Group corporate policies and authorization matrix;
b) to review and approve annual budgets, key operational issues, major investment funding and major restructuring
of core businesses;
c) to set overall strategies and supervision of the Group’s business and affairs;
d) to review the financial performance of the Group;
e) to approve the nominations of Board directors and appointments to the various Board committees;
f) to assume responsibility for corporate governance; and
g) to set goals for Frontline’s management and monitor the achievement of such goals.
Certain functions have been delegated by the Board to various committees, being the AC, NC and CC referenced
above, for the effective execution of its responsibilities. These committees operate under clearly defined terms of
reference. The chairman of each committee report to the Board the outcome of the committee meetings and make
recommendations based on their deliberations. As and when required, the Board also establishes ad-hoc subcommittees
to review and report on specific matters with greater depth and focus.
The Board meets at least three (3) times each financial year, supplemented by additional meetings as and when
warranted by circumstances. During FY06, four (4) Board meetings were convened. The following is a report on the
attendance of the directors at meetings of the Board and committees during FY06:
Name of Director Board AC CC NC
Steve Ting Tuan Toon 4 5 3 3
Lim Chin Hu 4 4 - -
Shirley Wong Swee Ping 4 - - -
Tay Swee Sze 4 5 3 4
Harrison Wang Hong She 4 5 3 4
Robert Yap Min Choy 4 5 - 4
Paul Andrew Thorley 3 - - -
Ng Chee Keong 3 - - -
The Board members are provided with regular management reports and information that highlight the Group’s
performance and business conditions including updates on changes in the relevant laws and regulations. From time to
time Frontline sponsors courses and seminars for Board members to assist them to keep up to date with developments
in corporate governance and other relevant matters.