Strength & Stability - ECS Holdings Limited

ECS Holdings Limited (the “Company”) is committed to comply with the Code of Corporate Governance 2005 issued by the Corporate
Governance Committee. It believes in maintaining a high standard of corporate governance and has put in place policies and practices that
will help to protect its shareholders’ interest and enhance long term shareholder value. This report describes the main corporate governance
practices that are adopted by the Company.
(A) BOARD MATTERS
The Board’s Conduct of its Affairs
Principle 1 :
Every company should be headed by an effective Board to lead and control the company. The Board is collectively responsible
for the success of the company. The Board works with Management to achieve this and the Management remains accountable
to the Board.
The Board’s role is to:
a) provide entrepreneurial leadership, set strategic aims, and ensure that the necessary financial and human resources are in place for the
company to meet its objectives;
b) establish a framework of prudent and effective controls which enables risk to be assessed and managed;
c) review management performance; and
d) set the company’s values and standards, and ensure that obligations to shareholders and others are understood and met.
The Board meets to consider the following, without limitation, corporate events and/or actions:
a) approval of quarterly results announcements;
b) approval of annual report and accounts;
c) declaration of interim dividend and proposal of final dividends;
d) approval of corporate strategy;
e) authorisation of major transactions;
f) review and approval of annual budgets;
g) compensation of senior management personnel; and
h) convening of shareholders’ meetings.
All directors must objectively take decisions in the interests of the Company.
The Board has delegated the day-to-day management and running of the Company to the management headed by our Group Chief
Executive Officer (“Group CEO”) and Executive Director, Mr Tay Eng Hoe, while reserving certain key issues and policies for its approval.
Additionally, to facilitate effective management, certain functions have been delegated to the following sub-committees, each of which has
its own written terms of reference:
a) the Nominating Committee;
b) the Compensation Committee; and
c) the Audit Committee.
Newly-appointed directors are given briefings by the Management on the Group’s activities and its strategic directions. Changes to
regulations and accounting standards are monitored closely by Management. To keep pace with regulatory changes, where these changes
have an important bearing on the Company’s or directors’ disclosure obligations, directors are briefed either during Board meetings or at
specially convened sessions conducted by professionals.
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Corporate
Governance Statement
ECS Holdings Limited