In the discharge of its functions, the Board is supported by six Board Committees to which it delegates specific areas of responsibilities for reviewing and decision making. The Board decides on matters that require its approval and clearly communicates this to Management in writing. The Board Committees are formed with clear written terms of reference setting out their compositions, authorities and duties, including reporting back to the Board. Details of authorities and duties and summary of key activities of the respective Board Committees are disclosed under the sub-section of each committee in this report. The Group President & CEO, Vincent Chong, is accountable to the Board. He is supported by the Key Management Executives of the Group (EXCO) comprising Group Chief Financial Officer (Group CFO), Group Chief Operating Officer (Technology & Innovation) and President, Defence & Public Security, and President Commercial. Director Induction, Training/Development For the onboarding of a Board member, a formal letter is sent to a Director upon his/her appointment setting out his/her statutory obligations, duties and responsibilities as a Director. He/ She is also given key information of the Group and the Company, as well as the terms of reference for the respective Board Committees. An induction programme is organised for a new Director on the strategic direction, sustainability efforts and performance of the Group as well as his/her duties and obligations under the statutory compliance and corporate governance framework. The induction programme includes briefings by Presidents/Business Heads of various business areas including facility visits, where applicable, to enable them to develop a good understanding of the Group's businesses and operations. The Board is routinely updated on the relevant laws, Singapore Exchange Securities Trading Limited (SGX-ST or the Exchange) continuing listing obligations and accounting standards requiring compliance, and their implications to the Group, so as to enable each Director to properly discharge his/ her duties as a Board member and Board Committee member. Depending on their skill sets and background, Directors are sponsored to attend relevant courses, conferences and seminars to better equip them with the appropriate skills and knowledge to fulfil their governance role and to comply with Directors' obligations. Directors are provided with opportunities to develop and maintain their skills and knowledge at the Company's expense. Where there are statutory and regulatory changes that affect the obligations of Directors, the Company will update the Board and, where the changes are substantive, through briefings organised by external legal counsel. During the year, the Board underwent the sustainability training course organised by Singapore Institute of Directors. The Company arranged numerous briefings and trainings to the Board on matters such as global economic and political outlook, anti-bribery and corruption training, updates on legislative or regulatory changes and also organised overseas site visits in 2022. In addition, the Directors were also informed of relevant courses organised by Singapore Institute of Directors or other external professional organisations for their enrolment. The Directors' trainings and developments were funded by the Company. For new Director without any prior experience as a Director of an issuer listed on the Exchange, the Company will arrange for the Director to attend training as prescribed by the Exchange. Board Meetings The Board convenes scheduled meetings on a quarterly basis to review the business performance and key activities of the Group and to deliberate significant business proposals. The Board and Board Committee meetings and the Annual General Meetings of the Company are scheduled in advance so that the Directors are able to attend these meetings. CORPORATE GOVERNANCE REPORT 80 ST ENGINEERING ANNUAL REPORT 2022
RkJQdWJsaXNoZXIy NjMyNDM=