CORPORATE GOVERNANCE
The Company’s Directors and Management
firmly believe that a full commitment to high
standards of corporate governance is
essential to protect shareholders’ interests
and maximise long-term shareholder value.
Effective corporate governance supports
the Company’s belief in transparency,
and helps it to be forward-looking with
fresh ideas, and more decisive in the
execution of strategies and initiatives.
It is also an effective safeguard against
frauds and irregularities.
These standards include having clear
policies, best practices and sound internal
controls as well as a system of continuous
improvements. To further strengthen the
Company’s safety management processes
and culture, a Board Safety Committee
("BSC") was formed on 1 March 2007.
Details on the composition and
responsibilities of the BSC can be found
on Pages 41 and 46.
The Company has received many awards
for achieving high standards in its
corporate governance and transparency.
Information on these awards is set out
under Communication with shareholders
on Pages 47 and 48.
As required by the Listing Manual of the
Singapore Stock Exchange Securities
Trading Limited ("SGX-ST"), the following
sections describe how the Company has
effectively applied the principles and
guidelines of Singapore’s Code of
Corporate Governance ("the Code").
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