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INTRODUCTION
The Manager’s main responsibility is to manage the assets and liabilities of the Trust for the benefit of its
Unitholders. The Manager sets the strategic direction of the Trust and gives recommendations to HSBC
Institutional Trust Services (Singapore) Limited, as trustee of the Trust, on the acquisition, divestment and
enhancement of the assets of the Trust in accordance with its stated investment strategy. The Manager is
also responsible for the risk management of the Trust.
The Manager and its officers are licensed under the Securities and Futures Act, Chapter 289 (“SFA”) to carry
out REIT management activities with effect from 2 November 2010. It holds a Capital Markets Services
(“CMS”) Licence issued by the MAS.
The Manager is committed to upholding high standards of corporate governance, which are essential
to sustaining the Trust’s business and performance. This report describes the Manager’s corporate
governance framework and practices in compliance with the principles and guidelines of the Code
of Corporate Governance 2012 (the “2012 Code”). The Manager confirms that it has adhered to the
principles and guidelines as set out in the 2012 Code where applicable. Any deviations from the 2012 Code
are explained.
BOARD MATTERS
THE BOARD’S CONDUCT OF AFFAIRS
Principle 1: Every company should be headed by an effective Board to lead and control the company.
The Board is collectively responsible for the long-term success of the company. The Board works with
Management to achieve this objective and Management remains accountable to the Board.
The Board provides entrepreneurial leadership, sets the strategic direction and ensures that the necessary
financial and human resources are in place for the Manager to meet its objectives. It also sets the values
and standards for the Manager and the Trust, to ensure that obligations to its stakeholders are understood
and met, with the ultimate aim of safeguarding and enhancing Unitholder’s value.
As at 31 December 2013, the Board members are:
Independent Directors
Mr Steven Lim Kok Hoong (Chairman)
Mr Yong Kok Hoon
Non-executive Directors
Mr Henry Chua Tiong Hock
Ms Ng Shin Ein
Executive Director
Kevin Xayaraj (Chief Executive Officer)
The profiles of the Directors are set out on pages 70 to 75 of this Annual Report.
CORPORATE GOVERNANCE
STATEMENT
SABANA REIT | ANNUAL REPORT 2013
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