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CORDLIFE GROUP LIMITED
| ANNUAL REPORT 2015
CORPORATE GOVERNANCE REPORT
For FY2015, the aggregate total remuneration paid to the top five (5) key management personnel (excluding the
CEO) amounts to approximately S$1,100,000.
For FY2015, there was no termination, retirement and post-employment benefits granted to the Directors (including
the CEO) and top five (5) key management personnel other than the standard contractual notice period termination
payment in lieu of service in respect of management employees.
There are no employees of the Company who are immediate family members of a Director (including the CEO).
ACCOUNTABILITY AND AUDIT
Principle 10: Accountability
In presenting the annual and quarterly financial statements and announcements of financial results to shareholders,
the Board aims to provide shareholders with a balanced and understandable assessment of the Company and the
Group’s performance, position and prospects.
In this regard, Management provides all Directors with detailed management accounts of the Company and the
Group’s performance, financial position and prospects on a timely basis.
Principle 11: Risk Management and Internal Controls
The Board, with the assistance of the BRC and AC, is responsible for the governance of risk by ensuring that the
Management implements and maintains a sound system of risk management and internal controls.
The AC is responsible for making the necessary recommendations to the Board such that an opinion regarding the
adequacy and effectiveness of the risk management and internal control systems of the Company can be made by
the Board in the Annual Report of the Company according to requirements in the SGX-ST Listing Manual and Code.
In this regard, the AC is assisted by the BRC.
The BRC is regulated by a set of written terms of reference and comprises the following members:
Joseph Wong Wai Leung (Independent Director) (Chairman of the BRC)
Dr. Goh Jin Hian (Independent Director)
Yee Pinh Jeremy (Executive Director and CEO)
The functions of the BRC include, amongst others:
1.
advising the Board on the Company’s overall risk tolerance and strategy;
2.
overseeing and advising the Board on the current risk exposures and future risk strategy of the Company;
3.
in relation to risk assessment, (i) reviewing the Company’s overall risk assessment processes that inform the
Board’s decision-making; (ii) reviewing regularly and approve the parameters used in these measures and the
methodology adopted; and (iii) setting a process for the accurate and timely monitoring of large exposures
and certain risk types of critical importance;
4.
reviewing the effectiveness of the Company’s internal controls and risk management systems and reviewing
and approving the statements to be included in the Annual Report concerning the effectiveness of the
Company’s internal control and risk management systems;
