Corporate Governance begins with the Singapore Technologies Engineering (ST Engineering) Board.  ST Engineering believes that corporate governance goes beyond compliance with form alone.  It is a spirit that is committed to putting systems and processes in place for self-regulation in order to deliver good leadership, effective strategy and robust performance.  It hinges on transparency, timely disclosure and accountability.

Comprising 11 directors and one alternate director, the Board’s mission is the creation of long term value for shareholders.  It provides leadership and guidance to management on matters of corporate strategy, business directions, acquisitions and divestments, risk policy and the implementation of corporate objectives.  The Board is supported in its tasks by board committees that focus on the key areas of corporate governance.  These include the audit committee, budget and finance committee, business investment and divestment committee, executive resource and compensation committee, nominating committee, research, development and technology committee, risk review committee, senior human resource committee and tenders committee.

Directors at ST Engineering freely debate the merits or demerits of each proposal that is put up to the Board for consideration and objectively challenge the views of other directors.

For more on ST Engineering’s corporate governance practices, please see http://www.stengg.com/AR2005/download/CorporateGovernance.pdf.