Guideline
Questions
How has the Company complied?
(ii)
Each director is required to assess
whether he considers himself
independent, to disclose any relationship
which would interfere or perceived to
interfere with the exercise of independent
judgement in carrying out the functions
as an independent director of the
Company. The NC will then reviewed
and affirmed the independence of the
Company’s independent directors and
pursuant to Article 91 of the Company’s
Articles of Association, every director
(other than the Managing or Joint
Managing Director) shall retire from
office once every three years and for
this purpose, one-third of the Board are
to retire from office by rotation and be
subject to re-election at the Company’s
annual general meeting (“AGM”).
Guideline
1.6
(a) Are new directors given
formal training? If not,
please explain why.
(b) What are the types
of information and
training provided to (i)
new directors and (ii)
existing directors to
keep them up-to-date?
(a)
Yes.
(b) (i)
The newly-appointed director will
be given a formal letter setting out
his duties and obligations. They will
be briefed by the lead independent
director and management and
provided with a director’s folder
containing materials relating to the
Group’s businesses and governance
practices. They are also invited
to visit the yards and meet with
middle management to gain a
better understanding of the Group’s
business operations.
(ii) To keep pace with regulatory
changes, the director’s own
initiatives are supplemented from
time to time with information,
updates and sponsored
seminars conducted by external
professionals, including any
changes in legislation and financial
reporting standards, government
policies and regulations and
guidelines from SGX-ST that affect
the Company and/or the directors in
discharging their duties.
DISCLOSURE GUIDE ON GOVERNANCE
PRACTICES
ASL Marine Holdings Ltd. /Annual Report 2015
51
