CHAIRMAN AND CHIEF EXECUTIVE OFFICER
Principle 3: There should be a clear division of responsibilities between the leadership of the Board and
the executives responsible for managing the company’s business. No one individual should represent
a considerable concentration of power.
The division of responsibilities and functions between the Chairman and the CEO has been demarcated
to ensure an appropriate balance of power, increased accountability and greater capacity of the Board for
independent decision making. The Chairman, Mr Steven Lim Kok Hoong, and the CEO, Mr Kevin Xayaraj, are
not related to each other, nor is there any business relationship between them.
The Chairman leads the Board to ensure its effectiveness by promoting a culture of openness and debate at
the Board on key issues pertinent to the business and operations of the Trust and the Manager. He encourages
effective contribution from all Directors and facilitates constructive relations with the Board and between the
Board and management. He ensures that the Directors receive complete, adequate and timely information and
promotes effective communication with Unitholders on the performance of the Trust. He also spearheads the
Manager’s drive to achieve and maintain high standards of corporate governance.
The CEO has full executive responsibilities over the business direction and operational decisions in managing
the Trust. He is responsible for the day-to-day management of the Manager and the Trust and is accountable
to the Board for the execution of the Board’s adopted strategies and policies.
BOARD MEMBERSHIP AND PERFORMANCE
Principle 4: There should be a formal and transparent process for the appointment and re-appointment
of directors to the Board.
Principle 5: There should be a formal annual assessment of the effectiveness of the Board as a whole
and its board committees and the contribution by each director to the effectiveness of the Board.
The NRC comprises the following Directors:
Mr Yong Kok Hoon (Chairman)
(lndependent Director)
Mr Steven Lim Kok Hoong
(lndependent Director)
Mr Henry Chua Tiong Hock
(Non-executive Director)
The NRC is guided by written Terms of Reference which sets out the authorities and duties of this Committee.
The NRC reviews and makes recommendations to the Board on all nominations for appointments and
re-appointments to the Board and the Board Committees. It also leads the process for the search, identification,
evaluation and selection of suitable candidates for new directorships. In doing so, where necessary or
appropriate, the NRC may tap on its networking contacts and/or engage professional headhunters to assist
with identifying and shortlisting candidates. Furthermore, the NRC also reviews and makes recommendation
to the Board on matters relating to the professional development and succession plans for senior management
and members of the Board.
SABANA REIT
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ANNUAL REPORT 2014
73
