Details of Directors’ attendance at the Board and Board committee meetings held for the financial year under review
are summarised in the table below:
Meetings of
Board
Audit
Committee
Nominating
Committee
Remuneration
Committee
Total held in FY15
4
4
1
1
Khor Thiam Beng
4
4
1
1
Lim Eng Hong
4
4
(1)
1
(1)
1
(1)
Goh Chung Meng
4
4
1
1
Michael Grenville Gray
4
4
1
1
Note
:
(1)
By Invitation
The Board has adopted internal guidelines setting the matters which are specifically reserved to the Board for
approval, including the following:
•
material acquisitions and disposal of assets;
•
corporate or financial restructuring;
•
share issuances (including stock options or other equity awards), dividends and other capital transactions
and returns to shareholders;
•
approval of annual audited financial statements for the Group and the Directors’ Report thereto;
•
any public reports or press releases reporting the results of operations; and
•
matters involving a conflict or potential conflict of interest involving a substantial shareholder or a director.
Clear directions have also been given to management that such matters must be approved by the Board.
Upon the appointment of any new director, the Company will provide a formal letter to the director, setting out
the director’s duties and obligations. The Board ensures that all incoming directors will receive comprehensive and
tailored induction on joining the Board, including briefing on his duties as a director and how to discharge those
duties, and an orientation program to ensure that they are familiar with the Group’s business and governance
practices. The Company also provides training for any new first-time director (who has no prior experience as a
director in a listed company) in any industry-specific knowledge as appropriate. All new first-time directors (who
have no prior experience as a director in a listed company) are also required to attend appropriate SGX-SID Listed
Company Director (LCD) Programmes offered by the Singapore Institute of Directors.
All Board members are encouraged to receive regular training, particularly on relevant new laws, regulations and
changing commercial risks, from time to time. The Board is mindful of the best practice in the Code to initiate
programmes for Directors to meet their relevant training needs. In this regard, the Company is supportive of Board
members in the participation of industry conferences and seminars and to fund Directors’ attendance at any course
or training programme in connection with their duties as directors.
22
AVI-TECH ELECTRONICS LIMITED
| ANNUAL REPORT 2015
CORPORATE
GOVERNANCE
