SFC met 6 times in 2022 Committee(s). The outcome of the evaluation of individual Director’s performance aims to assess whether a Director is willing and able to constructively challenge and contribute effectively to the Board and demonstrate commitment to his/her roles on the Board. The evaluation was conducted by requiring each Director to complete a questionnaire on the performance of the Board and Board Committees and Directors’ peer evaluation. A report on Board and Committee evaluation and the Directors’ feedback was reviewed by the NC and shared with the Board, in consultation with the NC. The report indicated that the Board and Board Committees continue to function effectively. The Board also took on board the recommendations and feedback in the report on areas for improvement. In respect of the Individual Director’s performance, the NC and Board Chairmen act on the results of the evaluation and arrange for one-to-one feedback session with the Director, where necessary. Strategy and Finance Committee Kwa Chong Seng (Chairman) Vincent Chong Sy Feng Lim Ah Doo Lim Chin Hu Lim Sim Seng Teo Ming Kian The Strategy and Finance Committee’s (SFC) role includes guiding Management in the development and execution of the Group’s annual and five-year plans, growth strategies, as well as deliberating and approving tender proposals which meet established contract value limit. The SFC has incorporated sustainability and ESG factors in the Group’s five-year plan. Details of the Group’s efforts in this area can be found in our Sustainability Report. The SFC also reviewed the 2023 Budget prior to submission to the Board for approval. Research, Development and Technology Committee Tan Peng Yam (Chairman) Vincent Chong Sy Feng Lim Chin Hu Teo Ming Kian Under its terms of reference, the Research, Development and Technology Committee’s (RD&T) role includes setting policies and direction for strategic R&D investments and related activities, promoting R&D and inculcating innovative culture, identifying areas of synergy with respect to R&D capabilities, facilities and resources, as welI as identifying new technologies that will enhance the core businesses of the Group. RD&T met 3 times in 2022 Please refer to page 26 of this Annual Report for details on the Company’s Technology & Innovations activities and expenditures. REMUNERATION MATTERS Procedures for Developing Remuneration Policies (Principle 6) Level and Mix of Remuneration (Principle 7) Disclosure on Remuneration (Principle 8) Executive Resource and Compensation Committee Kwa Chong Seng (Chairman) Lim Chin Hu Lim Sim Seng Teo Ming Kian The Executive Resource and Compensation Committee (ERCC) comprises four members, all of whom (including the ERCC Chairman) are independent Directors. The ERCC performs the role of the remuneration committee. The members of the ERCC have held senior positions in large organisations and are experienced in the area of executive remuneration policies and trends. CORPORATE OVERVIEW PERFORMANCE REVIEW SUSTAINABILITY FINANCIAL REPORT 89
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