ANNUAL REPORT 2015
33
Directors’
Statement
4
SHARE OPTIONS
(a)
Options to take up unissued shares
During the financial year, no options to take up unissued shares of the Company or any other corporation in the Group were
granted.
(b)
Options exercised
During the financial year, there were no shares of the Company or any other corporation in the Group issued by virtue of the
exercise of an option to take up unissued shares.
(c)
Unissued shares under option
At the end of the financial year, there were no unissued shares of the Company or any other corporation in the Group under
option.
5
AUDIT COMMITTEE
The Audit Committee of the Company, consisting all independent and non-executive directors, is chaired by Mr Tan Cher Liang, and
includes Mr Richard Tan Kheng Swee and Dr Lim Boh Soon. The Audit Committee has met two times since the date of incorporation and
has reviewed the following, where relevant, with the executive directors and external auditors of the Company:
(a)
The audit plans, scope of work, evaluation of the adequacy of the internal controls, audit reports, management letters on internal
controls and management response;
(b)
The adequacy and effectiveness of the Group’s internal controls addressing financial, operational, compliance and information
technology risks prior to the incorporation of such results in the annual report;
(c)
The Group’s financial and operating results and accounting policies;
(d)
The financial statements of the Company and the consolidated financial statements of the Group before their submission to the
directors of the Company and external auditors’ report on those financial statements;
(e)
The annual announcements as well as the related press releases on the results and financial position of the Company and the
Group;
(f)
The co-operation and assistance given by the management to the Group’s external auditors;
(g)
Interested person transactions falling within the scope of Chapter 9 of the Listing Manual, Section 8: Rules of Catalist of the
Singapore Securities Trading Limited and other relevant statutory requirements and any potential conflicts of interests; and
(h)
The re-appointment of the external and internal auditors of the Group.
The Audit Committee has full access to and has the co-operation of the management and has been given the resources required for it to
discharge its function properly. It also has full discretion to invite any director and executive officer to attend its meetings. The external
and internal auditors have unrestricted access to the Audit Committee.
The Audit Committee has recommended to the directors the nomination of Deloitte & Touche LLP for re-appointment as external auditors
of the Group at the forthcoming AGM of the Company.
