RSC met 5 times in 2022 SUMMARY REMUNERATION TABLE FOR KEY MANAGEMENT EXECUTIVES FOR THE YEAR ENDED 31 DECEMBER 2022 (GROUP)1: Remuneration Salary2 % Variable cash-based Incentives3 % Benefits4 % ShareBased Incentives5 % Total Between $2,750,000 and $3,000,000 Foo Chee Keng Cedric 23 44 3 30 100 Between $2,500,000 and $2,750,000 Ravinder Singh s/o Harchand Singh 25 42 3 30 100 Tan Lee Chew 23 44 3 30 100 Total for Key Management Executives $8,482,683 1 The ERCC is of the view that the relevant Key Management Executives shalI comprise members of the EXCO. 2 Salary includes base salary and employer CPF for the financial year ended 31 December 2022. 3 Variable cash-based Incentives include Performance Target Bonus & EVA-based incentive declared. 4 Benefits provided for employees are comparable with local market practices. These include medical, dental, insurances, transport, etc. 5 Share-based Incentives consist of PSP and RSP shares granted for financial year ended 31 December 2022. ACCOUNTABILITY AND AUDIT Risk Management and Internal Controls (Principle 9) The Board is responsible for the governance of risk and ensures that Management maintains a sound risk management and internal control system to safeguard the interests of the Company and its shareholders. The Board received a written assurance from the Group President & CEO and the Group CFO that the financial records have been properly maintained and the financial statements give a true and fair view of the Company’s operations and finances. The Risk and Sustainability Committee (RSC) is established to ensure Management has adequate oversight over the awareness and handling of safety, risks and sustainability matters. Risk and Sustainability Committee Quek See Tiat (Chairman) Vincent Chong Sy Feng Kevin Kwok Khien Song Su-Min LG Ong Su Kiat Melvyn For the Board to discharge its duties objectively over risks and internal controls, Management of ST Engineering meets with the Board and Board Committees frequently during the year. CORPORATE GOVERNANCE REPORT 96 ST ENGINEERING ANNUAL REPORT 2022
RkJQdWJsaXNoZXIy NjMyNDM=