REPORT ON CORPORATE GOVERNANCE
The AC reviews and approves the annual internal audit plans and ensures that the internal audit functions are adequately resourced
with competence, and has appropriate standing within the Group to carry out its duties effectively.
COMMUNICATION WITH SHAREHOLDERS
(Principle 15)
The Company takes a serious view of maintaining full and adequate disclosure, in a timely manner, of material events and matters
concerning its businesses through SGXNET, public announcements, press releases, circulars to shareholders and Annual Reports.
In addition, shareholders and the public can access information pertaining to the Company’s businesses, media releases and
other corporate information via its website. The Company’s Corporate Communications and Investor Relations department also
facilitates effective and unbiased communications with shareholders, analysts, fund managers and the media.
The Company endeavours to provide as much and as prompt information as is possible to its shareholders, taking into account
the legal and regulatory framework governing the release of material and price-sensitive information. The Company releases all
price-sensitive information through SGXNET.
At the Company’s general meetings, presentations on the Company’s business are made to the shareholders. These presentation
slides were also uploaded on SGX through SGXNET and the Company’s website. Shareholders are encouraged to ask questions
both about the resolutions being proposed and about the Group’s operations in general. The Articles of Association of the
Company permit a member of the Company to appoint not more than two proxies to attend and vote instead of the member.
As there is still a major concern on the security of information transmitted over the Internet, the Board has decided that it is not
appropriate, for the time being, to amend its Articles of Association to allow for in absentia voting methods.
The Company ensures that separate resolutions are proposed at general meetings on each distinct issue. The external auditors,
the chairpersons of the various Board committees and where necessary, the legal advisers are present to assist the Directors in
addressing any relevant queries by shareholders.
To enhance shareholder participation, the Company puts all resolutions at general meetings to vote by poll and announces the
detailed results showing the number of votes cast for and against each resolution and the respective percentages. The polling
results are also announced on the SGX and the Company’s website.
DEALINGS IN SECURITIES
The Group has issued internal guidelines on dealings in the securities of the Company to the Directors and employees of
the Company and its subsidiaries, advising them, among others, not to deal in the securities of the Company on short-term
considerations. On a quarterly basis, the Directors and employees are advised of the prohibitions in dealings in the securities of
the Company during the period commencing two weeks before the announcement of the Group’s quarterly financial statements,
and one month before the Group’s full year financial statements, and ending on the respective announcement dates, and while
they are in possession of material price-sensitive information which is generally not available.
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THE STRAITS TRADING COMPANY LIMITED ANNUAL REPORT 2014
