View - Singapore Technologies Engineering

More documents

Recommendations

Info

26 SIMPLY SMARTERCORPORATE GOVERNANCEmembers of the Board committeesthrough meetings, telephone calls aswell as by electronic mail.The Chairman, Mr Peter Seah, isresponsible for the proper functioningof the Board and acts independentlyin the best interests of the Companyand its shareholders. The Chairmanfacilitates the relationship betweenthe Board, President & CEO andmanagement, engaging them inconstructive discussions over variousmatters, including strategic issuesand business planning processes. Heensures that discussions at the Boardlevel are conducted objectively andprofessionally where all views are heardand key issues are debated in a fairand open manner. The Chairman alsoensures that adequate time is providedfor strategic issues. He represents theviews of the Board to the shareholders.The President & CEO is accountableto the Board for the conduct andperformance of the Group. He hasbeen delegated authority to makedecisions within certain financial limitsimposed by the Board. The President& CEO is supported in his work by theDeputy CEO, Mr Seah Moon Ming andthe CFO, Ms Eleana Tan Ai Ching in theExecutive Office.Board Membership and Evaluationof Performance (Principles 4 and 5)Supporting the Board are the followingBoard Committees: Divestment Committee Compensation Committee Technology Committee NOMINATING COMMITTEE (NC)The NC is responsible for reviewingthe composition of the Board andidentifying and selecting suitablecandidates to the Board. TheCommittee also reviews the retirementand re-election of directors.The NC comprises three nonexecutiveindependent directors.Mr Venkatachalam Krishnakumar isthe Chairman of the NC. The othermembers are Mr Peter Seah andDr Stanley Lai.The NC is charged with theresponsibility of ensuring that theCompany’s Board and its subsidiariescomprise individuals who are ableto discharge their responsibilities asdirectors. The NC identifies suitablecandidates for appointment to theboards of the Group, in particular,candidates who can value add to themanagement through contribution oftheir skills, knowledge and experience.The NC reviewed and affirmed theindependence of the Company’sindependent directors and thecomposition and profile of Boardmembers in relation to the needs of theST <strong>Engineering</strong> Board.During the year, the NC conducted acollective assessment by the Board togauge the effectiveness of the Board’sperformance, the adequacy of theblend of skillsets and experience of theBoard, and the quality and timelinessof board and committee meetingagendas and papers submitted by theManagement. The review was internallyundertaken with each Director beingasked to complete a questionnaire.Their feedback was collated and sharedwith the Board. The review indicatedthat the Board continues to functioneffectively.The NC has also noted the list of otherdirectorships held by our directorstaking into consideration their principalcommitments. The NC is satisfied thateach of the directors is able to devotetime to the affairs of the Company.The NC is also responsible for renewaland succession plans to ensure Boardcontinuity. At each AGM, one thirdof the directors with the longest termin office since his last re-election isrequired to retire. A retiring director maysubmit himself for re-election. Underthis provision, Mr Peter Seah,Mr Tan Pheng Hock, Mr Koh BengSeng and Mr VenkatachalamKrishnakumar will retire. The retiringdirectors, being eligible, have offeredthemselves for re-election.Each of the retiring non-executivedirectors has confirmed that he doesnot have any relationship with his fellowdirectors nor with the Company andits substantial shareholders. Mr PeterSeah is a member of the TemasekAdvisory Panel of Temasek Holdings(Private) Limited. The Temasek AdvisoryPanel provides a platform for memberswho are industry leaders to sharetheir wealth of experience. It is not adecision-making body and hence suchan appointment does not interfere withMr Seah’s exercise of independentjudgment on the Board.The NC recommends that each of theretiring Directors be re-elected at theCompany’s forthcoming AGM.
SINGAPORE TECHNOLOGIES ENGINEERING LTD Annual Report 201127The composition of the Board committees as at 31 December 2011 is tabulated below:Board MemberCMr TAN Pheng HockM M M M MMr KOH Beng SengLG NEO Kian HongDr TAN Kim SiewMr QUEK Tong BoonMr QUEK Poh Huat M MCMMr Venkatachalam KRISHNAKUMAR M M CMMr Davinder SINGH CMDr Stanley LAI Tze Chang* M M MMMr KHOO Boon Hui**COL ONG Ann Kiat+Audit Committee(established on 15/1/1998)Business Investment and Divestment Committee(established on 8/9/1997)Executive Resource and Compensation Committee(established on 6/12/1997)CNominating Committee(established on 4/12/2002)MBudget and Finance Committee(established on 5/1/1998)MResearch, Development and Technology Committee(established on 1/8/2003)CSenior Human Resource Committee(established on 16/1/1998)CMMRisk Review Committee(established on 7/12/1998)MCTenders Committee(established on 5/1/1998)Rolling list of any 3 Board DirectorsDENOTES:C – ChairmanM – Member+ Alternate director to LG NEO Kian Hong* Appointed Member of Research, Development and Technology Committee on 20 April 2011** Appointed Chairman of Risk Review Committee on 20 April 2011Access to Information(Principle 6)The Management furnishes Boardmembers with monthly managementreports, providing updates on keyoperational activities and financialanalysis. The Board also hasunrestricted access to the President& CEO, the CFO, management andthe Company Secretary as well as theinternal and external auditors and therisk management team. The Board mayalso seek independent professionaladvice if necessary.The Company Secretary is responsibleto the Board for updating statutoryrecords and decisions of the Boardand, among other things, for ensuringthat interests by directors are properlydisclosed to the Board and SGXrespectively in a timely way. To assistthe Board with timely disclosures, anelectronic database system has beenintroduced for Board members to maketheir disclosures by electronic means tothe Company Secretary.The Company Secretary also ensuresthat board procedures are compliedwith. Board papers are sent to directorsat least three days prior to meetingsin order for directors to be adequatelyprepared for the meetings.
Page 3: The return on assets (ROA) for U.S.
Page 7 and 8: SINGAPORE TECHNOLOGIES ENGINEERING
Page 11 and 12: We are able to stay ahead of the co
Page 13 and 14: Because we believe in two-waycommun
Page 15 and 16: We are committed to globalisation a
Page 27: SINGAPORE TECHNOLOGIES ENGINEERING
Page 79 and 80:
SINGAPORE TECHNOLOGIES ENGINEERING
Page 81 and 82:
Page 83 and 84:
Page 85 and 86:
Page 87 and 88:
Page 89 and 90:
Page 91 and 92:
Page 93 and 94:
Page 95 and 96:
Page 97 and 98:
Page 99 and 100:
Page 101 and 102:
Page 103 and 104:
Page 105 and 106:
Page 107 and 108:
Page 109 and 110:
Page 111 and 112:
Page 113 and 114:
Page 115 and 116:
Page 117 and 118:
Page 119 and 120:
Page 121 and 122:
Page 123 and 124:
Page 125 and 126:
Page 127 and 128:
Page 129 and 130:
Page 131 and 132:
Page 133 and 134:
Page 135 and 136:
Page 137 and 138:
Page 139 and 140:
Page 141 and 142:
Page 143 and 144:
Page 145 and 146:
Page 147 and 148:
Page 149 and 150:
Page 151 and 152:
Page 153 and 154:
Page 155 and 156:
Page 157 and 158:
Page 159 and 160:
Page 161 and 162:
Page 163 and 164:
Page 165 and 166:
Page 167 and 168:
Page 169 and 170:
Page 171 and 172:
Page 173 and 174:
Page 175 and 176:
Page 177 and 178:
Page 179 and 180:
Page 181 and 182:
Page 183 and 184:
Page 185 and 186:
Page 187 and 188:
Page 189 and 190:
Page 191 and 192:
Page 193 and 194:
Page 195 and 196:
Page 197 and 198:
Page 199 and 200:
Page 201 and 202:
Page 203 and 204:
Page 205 and 206:
Page 207 and 208:
Page 209 and 210:
Page 211 and 212:
Page 213 and 214:
Page 215 and 216:
Page 217 and 218:
Page 219 and 220:
Page 221 and 222:
Page 223 and 224:
Page 225 and 226:
Page 227 and 228:
Page 229 and 230:
Page 231 and 232:
Page 233 and 234:
Page 235 and 236:
Page 237 and 238:
Page 239 and 240:
Page 241 and 242:
Page 243 and 244:
Page 245 and 246:
Page 247 and 248:
246 SIMPLY SMARTERSHAREHOLDING STAT
show all

View - Singapore Technologies Engineering

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?