GOVERNANCE → Corporate Governance Report 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 Company arranged for the following briefings for the Board: (i) Update on Cyber Threat Landscape; (ii) Global Sustainability Trends 2021; and (iii) Global fraud, bribery and corruption threat landscape and emerging trends. 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. Board members participate actively in Board discussions, and decisions are taken objectively in the interests of the Company. Where warranted by particular circumstances, ad-hoc/special Board meetings may be convened to consider corporate actions requiring the Board’s guidance or approval. To facilitate the Board and Board Committees’ decision-making process, the Company’s Constitution provides for Directors to participate in virtual meetings. If a Director is unable to attend a Board or Board Committee meeting, he/she will still receive all the materials to be tabled for discussion at that meeting, and where required, separate briefing sessions are arranged. Decisions of the Board and Board Committees may also be obtained via circulation. At the end of every Board meeting, the Chairman allocates time for its non-executive Directors to meet without the presence of management. Information furnished to the Board is an ongoing process, which includes monthly consolidated management reports on the financial performance of the Group and the businesses. On a quarterly basis, the management reports would also include key business highlights and capital expenditure of the Group and the businesses to keep the Board apprised of business investments and performance updates. The Board also has separate and unrestricted access to the Senior Management, the Company Secretary, internal and external auditors, risk management and sustainability teams. The Board may also seek independent professional advice, if necessary, to enable them to discharge their duties effectively. All engagements of external advisers are at the Company’s expense. The Board and Board Committee meetings are scheduled well in advance. The Board and Board Committee members are provided with complete, adequate, relevant and timely information on matters to be discussed or considered at meetings. The Board has, at all times, exercised independent judgment to make decisions, using its collective wisdom and experience to act in the best interests of the Company. Any Director who has an interest that may conflict with a subject under discussion by the Board, declares his/her interest and either recuses himself/herself from the information and discussion of the subject matter or abstains from decision-making. Board met in 2021 9 times The Company has adopted half-yearly reporting and provides operational updates in the first and third quarters to the market and analysts alike. Board and Audit Committee meetings continue to be held quarterly. During the year, the Board met quarterly to consider, among other things, the approval and release of the FY2020 and 1H2021 results, including the review of the 1Q2021 and 3Q2021 Market Updates. The Board also scheduled additional meetings to discuss and deliberate on the strategic direction and growth of the Group. 97 CORPORATE OVERVIEW PERFORMANCE REVIEW SUSTAINABILITY FINANCIAL REPORT 56 ST ENGINEERING SUSTAINABILITY REPORT 2021 OVERVIEW OUR SUSTAINABILITY APPROACH ENVIRONMENTAL SOCIAL GOVERNANCE AWARDS INDEX
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