AR for 2008 - Abterra

24 ABTERRA
Annual Report 2008
CORPORATE GOVERNANCE
Principle 13 - Internal audit
The Board is responsible for maintaining a system of internal control processes to safeguard shareholders’ interest
and the Group’s business and assets.
The Group has outsourced the internal audit function. At least once a year, the internal audit team will closely
examine and evaluate the internal control systems of all major operating entities in accordance with the audit plan
as approved by the Audit Committee. The internal audit team will report to the Audit Committee on any material
non-compliance and internal control weaknesses, and will recommend improvements, where necessary. The Audit
Committee oversees and monitors the implementation of any improvements thereto.
Communications with Shareholders
Principle 14 - Regular, Effective and Fair Communication with Shareholders
The Company takes a serious view of maintaining full and adequate disclosure, in a timely manner, of material
events and matters concerning its business. All the necessary disclosures are made in public announcements, press
releases and annual reports to shareholders.
The Company’s website at www.abterra.com.sg also provides up-to-date information on the Group and its businesses.
Corporate Governance
Principle 15 - Shareholders Participation at Annual General Meetings
The Annual General Meeting of the Company provides a principal forum for dialogue and interaction with shareholders.
Members of the Board and the Company’s external auditors are present to address questions raised by shareholders
at Annual General Meetings.
The Articles of Association of the Company provides for voting in person at the Annual General Meetings of the
Company.
Issues or matters requiring shareholders’ approval are tabled in the form of separate and distinct resolutions.
Dealing in Securities
The Company has adopted an internal code on dealings in securities to govern dealings in its shares by the directors
and the key employees of the Group. This internal code is modeled on the Best Practices Guide of the SGX-ST
relating to dealings in securities and has been disseminated to the directors and the key employees of the Group.
Compliance with Existing Best Practices Guide of the Singapore Exchange
The Board of Directors confirms that for the financial period ended 31 December 2008, the Company has complied
with the principal corporate governance recommendations set out in the Best Practices Guide issued by the SGX-ST.