Osim FR 050407.indd

Principle 6: Access to InformationIn order to ensure that the Board is able to fulfill its responsibilities,management provides the board members with regular updates ofthe financial position of the Company. A quarterly report of theCompany’s activities is also provided to the Board. Analysts’ reportson the Company are forwarded to the directors on an on-goingbasis as and when received. The directors have also been providedwith the phone numbers and email particulars of the Company’ssenior management and company secretary to facilitate independentaccess.Should directors, whether as a group or individually, needindependent professional advice, the company secretary will, upondirection by the Board, appoint a professional advisor selected bythe group or the individual, and approved by the Chairman andCEO, to render the advice. The cost of such professional advicewill be borne by the Company.The company secretary attends all board meetings and is responsibleto ensure that board procedures are followed. It is the companysecretary’s responsibility to ensure that the Company complies withthe requirements of the Companies Act. Together with the othermanagement staff of SGX, the company secretary is responsiblefor compliance with all other rules and regulations which areapplicable to the Company.Please refer to the “Corporate Information” section of the annualreport for the composition of the Company’s Board of Directors,and Board committees.Board CommitteesNominating Committee (“NC”)Principle 4: Board MembershipThe chairman of the NC, Mr Ong Kian Min, is an independent nonexecutivedirector. There are five members in the NC, three ofwhom are independent non-executive directors.The NC’s principal functions are:1) To identify candidates and review all nominations for theappointment or re-appointment of members of the Board ofDirectors; the CEO of the Company; and the members of thevarious Board committees, for the purpose of proposing suchnominations to the Board for its approval;2) To determine the criteria for identifying candidates and reviewingnominations for the appointments referred to in paragraph 1.One of the criteria for the appointment of a director is theindependent status of the candidate;3) To decide how the Board’s performance may be evaluated andpropose objective performance criteria for the Board’s approval;and4) To assess the effectiveness of the Board as a whole, and thecontribution by each individual director to the effectiveness ofthe Board.5) To evaluate whether or not a director is able to and has beenadequately carrying out his/her duties as director of the company,when he/she has multiple board representationsCorporate Governance Report 54 Annual Report 2006