CORPORATE GOVERNANCE STATEMENT
Principle 2: Board Composition and Guidance
In keeping up with the recommendations of the 2012 Code that at least half of the Board should be
made up of Independent Directors, the Board of Directors consists of seven members, four of whom
are Independent and Non-executive Directors.
Executive Directors
Ow Chio Kiat
(Executive Chairman and Executive Director)
Ow Cheo Guan
(Executive Deputy Chairman and Executive Director)
Ow Yew Heng
(Executive Director)
Independent and Non-executive Directors
Lim Hwee Hua
(Lead Independent and Non-executive Director)
Tan Chin Nam
(Independent and Non-executive Director)
Mark Anthony James Vaile
(Independent and Non-executive Director)
Douglas Owen Chester
(Independent and Non-executive Director)
The above composition complies with the 2012 Code’s requirement. The appointment and
retirement of directors is recommended by the Nominating Committee to the Board. In addition,
the Nominating Committee also reviews annually the independence of each director and board
succession planning. To date, none of the Independent and Non-executive Directors have served
on the Board for more than nine years. The Board is of the view that the current Board comprises
persons who as a group, provide core competencies necessary to meet the Company’s requirements
and that the current board size is adequate, taking into account the nature and scope of the
Company’s operations.
The Board encourages the Independent and Non-executive Directors to meet without the presence
of Management.
Our directors’ profiles are set out on pages 7 and 9 of this Annual Report. Our Board members have
the appropriate breadth and depth of industry expertise and experience in the areas of accounting,
finance, business, management and strategic planning.
Principle 3: Role of Executive Chairman (the “Chairman”) and Chief Executive Officer (the “CEO”)
Ow Chio Kiat is the Chairman and CEO. The role of the Chairman is not separate from that of the
CEO as the Board believes that there is adequate accountability and transparency. Major decisions
are made in consultation with the Board which comprises a majority of Independent and Non-
executive Directors. The Board believes that there are adequate measures in place against any
uneven concentration of power and authority in one individual.
As recommended by the 2012 Code, on 5 February 2013 the Board has appointed Independent
Director, Lim Hwee Hua, as Lead Independent Director. The Lead Independent Director shall be
available to shareholders where they have concerns for which contact through the normal channels
of the Chairman and CEO has failed to resolve or for which such contact is inappropriate. The Lead
Independent Director may call for meetings of Independent Directors from time to time without the
presence of other directors and provide feedback to the Chairman after such meetings.
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STAMFORD LAND CORPORATION LTD
ANNUAL REPORT 2013/2014
