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STAMFORD LAND CORPORATION LTD
CORPORATE GOVERNANCE STATEMENT
In addition, in the year under review, the Board has also received quarterly certification by Management
on the integrity of financial reporting and the Board has provided a negative assurance confirmation to
shareholders, as required by the Listing Manual of SGX-ST.
The Board notes that the system of risk management and internal controls established by the Group provides
reasonable, but not absolute assurance that the Group will not be affected by any event that could be
reasonably foreseen as it strives to achieve its business objectives. In this regards, the Board also notes
that no system can provide absolute assurance against the occurrence of material error, poor judgment in
decision-making, human error, fraud or other irregularities.
The ARMC is given full access to, and receives full cooperation from the Management. The ARMC has full
discretion to invite any director or management staff to attend its meetings. It is empowered to investigate
any matters relating to the Group’s accounting, auditing, internal controls and/or financial practices that are
brought to its attention; and has full access to records, resources and personnel to enable it to discharge its
functions properly and effectively.
Formal procedures are in place for the internal and external auditors to report their findings and
recommendations to the management and ARMC. The internal and external auditors also have unrestricted
access to the ARMC. In addition, the ARMC also meets with the internal and external auditors separately, at
least once a year, without the presence of the Management, in order to have free and unfiltered access to
information that it may require.
The Group has in place the Whistle-Blower Policy and Procedures, pursuant to which staff may, in confidence,
raise concerns about possible improprieties in matters of financial reporting or other matters. This helps to
ensure that arrangements are in place for the independent investigation of such matters and for appropriate
follow up action. All employees may address their report to the Whistle-Blower Panel (comprising the Head
of Internal Audit, Director of Human Resources and the General Counsel) and/or the Chairman of the ARMC.
Direct contact details of the Whistle-Blower Panel and the Chairman of the ARMC are available to all staff.
Dealings in Company’s Securities
The Group has complied with the best practices in dealings in securities, as set out in the Listing Manual.
In this regard, the Group has issued and implemented internal guidelines, to provide appropriate guidance
to directors and staff on dealings in the Company’s securities. All directors and staff of the Group are not
allowed to trade in the Company’s securities during the two weeks before the release of the Company’s
first three quarters’ results and during the one month before the release of the full year results. To facilitate
compliance, quarterly reminders are issued to all directors and staff prior to the applicable trading black-
out periods. Our directors and staff, who are expected to observe insider trading laws at all times, are also
reminded not to deal in the Company’s securities on short-term considerations, or whilst in possession of
unpublished material price-sensitive information.
