ST Engineering Annual Report 2020

CORPORATE OVERVI EW PERFORMANCE REVI EW SUSTAINABI L ITY CORPORATE GOVERNANCE F INANCIAL REPORT On voting, each proposal was put to vote as a separate resolution. We do not “bundle” resolutions. Shareholders appointed Chairman as their proxy to vote on their behalf at the 23 rd AGM. All proxy votes were received by the 72 hours’ deadline prior to meeting and were verified by the appointed independent scrutineers. The Company Secretary prepared the minutes of the 23 rd AGM which are available on the corporate website, www.stengg.com On dividends, ST Engineering strives to provide shareholders with a sustainable dividend return and has historically declared both interim and final dividends. The current and past years’ dividend payouts are clearly set out on page 254. Engagement with Shareholders (Principle 12) ST Engineering treats all shareholders fairly and equitably, and always strives to provide clear and succinct information to the investment community in an effective and timely manner. Material information relating to ST Engineering’s financial performance, business and strategic developments are published on SGXNET, followed by simultaneous postings on our corporate website. Our Investor Relations team upholds a clearly defined Investor Relations policy. The team maintains regular dialogues with shareholders and the investment community through a multi-channel programme to promote effective and fair communication. Targeted events such as AGMs, conferences, roadshows, site visits, group briefings and one-on-one meetings offer opportunities for senior management and directors to interact first-hand with shareholders and the investment community to understand their views, gather feedback and address concerns. In 2020, we moved majority of our meetings online due to the disruption from COVID-19. 12 3 ANNUAL REPORT 2 02 0 / The AC concluded that Management's accounting treatment and estimates were appropriate for the above significant matters. All the key audit matters (KAMs) that were raised by the external auditors for the financial year ended 31 December 2020 have been addressed by the AC and discussed in the above commentary. The KAMs in the audit report for the financial year ended 31 December 2020 can be found on pages 141 to 142 of this Annual Report. The AC was kept updated on relevant changes in accounting standards and their implications on the financial statements. SHAREHOLDER RIGHTS AND ENGAGEMENT Shareholder Rights and Conduct of General Meetings (Principle 11) Conduct of 23 Annual General Meeting Arising from the COVID-19 pandemic, ST Engineering’s 23 rd AGM was conducted in accordance with the alternative arrangements for general meetings prescribed by a ministerial order issued under the COVID-19 (Temporary Measures) Act 2020. The Annual Report, Notice of AGM and Proxy Form for the 23 rd AGM were made available via SGXNET and our corporate website. The meeting was conducted via electronic means whereby its shareholders attended via live audio-visual webcast or live audio-only stream. Shareholders submitted questions in advance upon registration for the attendance. The Company addressed the substantial and relevant questions received by publishing the answers via SGXNET and our corporate website before the meeting. Our Group President & CEO started the 23 rd AGM by recapitulating the Company’s growth strategy and aspiration,as well as the Group’s performance in 2019. He also provided an overview of the Group’s priorities in 2020, the Group’s operations amid COVID-19 and the mitigation factors for COVID-19 impact as well as the Group’s support to the local eco systems. The presentation material was also available on both SGXNET and our corporate website. rd