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SINGAPORE TECHNOLOGIES ENGINEERING LTD Annual Report 201125Type of Meeting No. of Meetings Attendance Average (%)Board 488%Audit Committee 5 93%Business Investment and Divestment Committee – –Executive Resource and Compensation Committee 2 100%Nominating Committee 3 100%Senior Human Resource Committee 1 75%Risk Review Committee 4 85%Budget and Finance Committee 2 87%Research, Development and Technology Committee 3 100%Tenders Committee * ** Decisions were made via circular resolution.Minutes of the Board Committee meetings are made available to all Board members.Board Composition and Guidance(Principle 2)The Board comprises 11 directorsand an alternate director. The Boardconsists of members with establishedtrack record in finance, banking,technology, legal and managementskills. Each non-executive directorbrings to the Board an independentperspective based on his training andexpertise to make balanced and wellconsidered decisions.The Chairman of the Board is Mr PeterSeah, an independent non-executivedirector. Mr Seah was appointed to theBoard on 15 April 2002 as Chairman.As an independent director, Mr Seahis free from any relationship withthe executive management of theCompany that could materially interferewith the exercise of his independentjudgment.The President & CEO is Mr Tan PhengHock, who is an executive director.Save for Mr Tan Pheng Hock, theremaining ten directors are nonexecutivedirectors.The Board has six independentdirectors. The independence ofeach director is determined uponappointment and reviewed annually bythe Nominating Committee (NC). TheNC has affirmed that the independentdirectors are Mr Peter Seah, MrKoh Beng Seng, Mr VenkatachalamKrishnakumar, Mr Davinder Singh, DrStanley Lai and Mr Khoo Boon Hui.The NC is of the view that each of theindependent directors is independent incharacter and judgment.The Board has, at all times, exercisedindependent judgment in decisionmaking, using its collective wisdomand experience to act in the bestinterests of the Company. Any directorwho has an interest that may conflictwith a subject under discussion by theBoard either recuses himself from theinformation flow and discussion of thesubject matter or declares his interestand abstains from decision-making.The Board held a total of four meetingsduring the year, to consider amongother things, the approval of theFY2010 results and release of 1Q2011,2Q2011 and 3Q2011 results.Chairman and Chief Executive Officer(Principle 3)The Chairman and President & CEOroles and responsibilities are keptseparate in order to maintain effectiveoversight. No individual or small groupof individuals dominates the Board’sdecision making process. The President& CEO and senior managementregularly consult with individual Boardmembers and seek the advice of