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Executive Committee
The Executive Committee operates under delegated authority from the Board and is represented by non-executive
directors and senior executives of the Manager. The members of the Executive Committee are Ms Chong Siak Ching
(Chairman), Mr Chia Kim Huat, Mrs Monica Tomlin and Mr Tan Ser Ping.
This committee oversees the day-to-day activities of the Manager on behalf of the Board including to:
1. Approve or make recommendations to the Board on investments, divestments, operational issues with the
Property Manager, financing offers and banking facilities;
2. Recommend changes to the financial limits for investment, etc, and
3. Report to the Board on decisions made by the Executive Committee.
Audit Committee
The Audit Committee is appointed by the Board from among the directors of the Manager, all of whom (including the
Chairman of the Audit Committee) are independent non-executive directors. The members of the Audit Committee
are Mr Joseph Chen (Chairman), Mr Chia Kim Huat, Mr Koh Soo Keong and Mr Henry Tan.
The role of the Audit Committee is to monitor and evaluate the effectiveness of the Manager’s internal controls. The
Audit Committee also reviews the quality and reliability of information prepared for inclusion in financial reports. The
Audit Committee is responsible for the nomination of external auditors and reviewing the adequacy of existing audits
in respect of cost, scope and performance.
The Audit Committee’s responsibilities also include:
1. Reviewing external audit reports to ensure that where deficiencies in internal controls have been identified,
appropriate and prompt remedial action is taken by Management;
2. Monitoring the procedures in place to ensure compliance with applicable legislation and regulations, including
the Listing Manual and the Property Funds Appendix;
3. Reviewing and approving the financial statements and the audit report; and
4. Monitoring the procedures established to regulate Interested Party Transactions including ensuring compliance
with the provisions of the Listing Manual.
The Audit Committee has also conducted a review of all non-audit services provided by the external auditors and
is satisfied that the nature and extent of such services will not prejudice the independence and objectivity of the
external auditors.
Audit Committee meetings are generally held after the end of every quarter before the official announcement of results
in relation to that quarter.
The Audit Committee meets with the external auditors, without the presence of Management, at least once a year.
HR & Compensation Committee (“HRCC”)
The HRCC’s functions include approving the benefits and compensation strategies for the Manager and identifying the
CEO’s successor. The members of the HRCC are Mr David Wong (Chairman), Ms Chong Siak Ching, Mr Joseph Chen
and Mr Koh Soo Keong.
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