Strategy and Finance Committee Teo Ming Kian (Chairman) Vincent Chong Sy Feng Philip Lee Sooi Chuen Lim Chin Hu Philip Lee Sooi Chuen was appointed as a member of the Strategy and Finance Committee (SFC) in June 2024. SFC’s 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 limits. 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 2025 Budget prior to submission to the Board for approval. Research, Innovation, Technology and Enterprise Committee Tan Peng Yam (Chairman) Vincent Chong Sy Feng Lim Chin Hu Teo Ming Kian Chua Kee Lock (Co-Opted) The Research, Innovation, Technology and Enterprise Committee (RITE) gives greater focus on our go-to-market strategy beyond R&D, expands the deployment of dual-use technology and develops an innovation ecosystem. Under its terms of reference, the RITE’s 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. In particular, RITE had provided guidance on key technology focus areas such as Artificial Intelligence (AI), Advanced Materials, Robotics, Quantum Technology and Green Technology. Building on Research Translation @ST Engineering, RITE also launched the AI Research Translation @ST Engineering in 2024 to proliferate AI and Generative AI technologies by partnering both local and overseas universities, research labs and startups. 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 Teo Ming Kian (Chairman) Philip Lee Sooi Chuen Lim Chin Hu Ng Bee Bee (May) The Executive Resource and Compensation Committee (ERCC) comprises four members, all of whom (including the ERCC Chairman) are independent Directors. Philip Lee Sooi Chuen was appointed as a member of the ERCC in June 2024. The ERCC performs the role of the remuneration committee as per the requirements of the SGX-ST Listing Manual and the Code. The members of the ERCC have held senior positions in large organisations and are experienced in the area of executive remuneration policies and trends. All decisions at any meeting of the ERCC are decided by a majority of votes of the ERCC members present and voting (the decision of the ERCC shall at all times exclude the vote, approval or recommendation of any member who has a conflict of interest in the subject matter under consideration). SFC MET IN 2024 13 TIMES CORPORATE GOVERNANCE REPORT RITE MET IN 2024 2 TIMES 86 ST ENGINEERING | ANNUAL REPORT 2024
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