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ANNUAL REPORT 2011/2012
2. REMUNERATION MATTERS
Procedures for developing remuneration policies (Principle 7)
Level and mix remuneration (Principle 8)
Disclosure on remuneration (Principle 9)
We believe in adopting a formal and transparent procedure for fxing the remuneration packages
of the directors and key management so as to ensure that the level of remuneration should be
appropriate to attract, retain and motivate the directors and key management needed to run the
Group’s business successfully.
a. Remuneration Committee (“RC”)
To achieve this formal and transparent process to evaluate the remuneration packages of
the directors and key management, the RC was formed. It comprises three directors, all of
whom are non-executive and independent directors. The RC currently comprises:
Dr Tan Chin Nam Chairman
Mr Wong Hung Khim Member
Mr Mark Anthony James Vaile Member
The RC is responsible for the following:
● Reviewing and determining appropriate adjustments as well as approving the
remuneration of the non-executive directors, executive directors and senior executives
● Administering the Company’s Share Option Plan, Performance Share Plan or any other
share incentive scheme implemented by the Company, and delegating the day-to-day
administration of such plan or scheme to such persons as the RC deems ft (Additional
information on the Share Option Plan and Performance Share Plan are set out in the
Directors’ Report)
● Assuming other duties (if any) that may be required of the RC under the Code, and by
the Singapore Exchange Securities Trading Limited (the “SGX-ST”)
The RC meets at least once a year. In its deliberations, the RC takes into consideration the
industry practices and norms for remuneration packages. The RC may obtain independent
professional advice at the Company’s expense.
No director is involved in any discussion relating to his own remuneration, and terms and
conditions of service and the review of his own performance.
Corporate Governance Statement