Attendance of the Directors for FY 2014
Board
Meetings
Audit Committee
Meetings
Nominating and
Remuneration
Committee Meetings
Name of Directors
No. of
meetings
Attendance
No. of
meetings
Attendance
No. of
meetings
Attendance
Mr Steven Lim Kok Hoong
5
5
4
4
1
1
Mr Yong Kok Hoon
5
5
4
4
1
1
Mr Kevin Xayaraj
5
5
N.A.
N.A.
N.A.
N.A.
Mr Henry Chua Tiong Hock
5
5
N.A.
N.A.
1
1
Ms Ng Shin Ein
5
5
4
4
N.A.
N.A.
The Board has access to management and the Company Secretary at all times. The Company Secretary
(or representative) attends all Board meetings and ensures that all Board procedures and the requirements
of the Companies Act, Cap. 50 and the Listing Manual of the SGX-ST are followed. The appointment and
removal of the Company Secretary is a matter for the Board as a whole.
Directors may seek and obtain independent professional advice in the furtherance of their duties, if necessary.
Any expenses and costs associated thereto will be borne by the Manager.
REMUNERATION MATTERS
PROCEDURES FOR DEVELOPING REMUNERATION POLICIES
Principle 7: There should be a formal and transparent procedure for developing policy on executive
remuneration and for fixing the remuneration packages of individual directors. No director should be
involved in deciding his own remuneration.
LEVEL AND MIX OF REMUNERATION
Principle 8: The level and structure of remuneration should be aligned with the long-term interest and
risk policies of the company, and should be appropriate to attract, retain and motivate (a) the directors
to provide good stewardship of the company, and (b) key management personnel to successfully
manage the company. However, companies should avoid paying more than is necessary for this
purpose.
DISCLOSURE ON REMUNERATION
Principle 9: Every company should provide clear disclosure of its remuneration policies, level and
mix of remuneration, and the procedure for setting remuneration, in the company’s Annual Report.
It should provide disclosure in relation to its remuneration policies to enable investors to understand
the link between remuneration paid to directors and key management personnel, and performance.
The NRC, which has an independent majority, serves the crucial role of ensuring that a formal and transparent
procedure is established for developing policy on executive remuneration and for fixing the remuneration
packages of individual Directors. The NRC determines remuneration packages and service terms of individual
Directors and the CEO. It also reviews and recommends to the Board, the framework for salary reviews,
performance bonus and incentives for the other key management personnel, taking into consideration the
performance of the corporate and that of the individual employee. No Director decides his own fees. There are
currently no option schemes or other long-term incentive schemes for Directors and employees.
SABANA REIT
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ANNUAL REPORT 2014
75
