CORPORATE GOVERNANCE REPORT
A breakdown, showing the level and mix of each key executive’s remuneration for FY2016 is set out below:
Remuneration Band and Name of Executive
#
Fee
Salary*
Bonus Allowance
Total
Below $250,000
%
%
%
%
%
Or Thiam Huat
24
62
–
14
100
Lim Kim Hock
24
62
–
14
100
Chan Chung Khang
–
78
22
–
100
Tan Wei*
–
72
24
4
100
Lwin Lwin Aung
–
76
19
5
100
Notes:
* These amounts are inclusive of employer’s CPF contribution.
* Tan Wei ceased his employment as Chief Strategy Officer on 26 July 2016.
The Board is of the opinion that the information as disclosed above would be sufficient for shareholders to have an
adequate appreciation of the Group’s compensation policies and practices and therefore does not intend to issue a
separate remuneration report, the contents of which would be largely similar.
There were no termination, retirement and post-employment benefits granted to Directors, CEO and Executive Officers
of the Group.
None of the current employees are related to the Directors or the CEO.
ACCOUNTABILITY AND AUDIT
Accountability
Principle 10:
The board should present a balanced and understandable assessment of the company’s performance,
position and prospects.
In presenting the annual financial statements and interim announcements to shareholders, it is the aim of the Board
to provide the shareholders with a balanced assessment of the Group’s performance, position and prospects. The
Board is committed to provide shareholders with timely and accurate financial statements in compliance with statutory
reporting requirements.
Risk Management and Internal Controls
Principle 11:
The board is responsible for the governance of risk. The board should ensure that management maintains
a sound system of risk management and internal controls to safeguard shareholders’ interests and the
company’s assets, and should determine the nature and extent of the significant risks which the Board is
willing to take in achieving its strategic objectives.
The Company does not have a risk management committee. However, the Management regularly reviews and improves
the Group’s business and operational activities to identify areas of significant business and operational risks as well as
appropriate measures to control and mitigate such risks. The Management reviews significant control policies and
procedures and highlights significant matters to the Board and the AC.
To enhance the Group’s system of internal controls, the Board has appointed an external professional firm, namely
Nexia TS Risk Advisory Pte Ltd, to review, recommend and have subsequent rectifications follow-up on the Group’s
internal control system, and to expand and enhance on its policies and procedures manual.
48
ISOTEAM LTD.
ANNUAL REPORT 2016
