GOVERNANCE → Corporate Governance Report Strategy and Finance Committee Independent and Non-Executive Directors Kwa Chong Seng (Chairman) Lim Ah Doo Lim Chin Hu Lim Sim Seng Teo Ming Kian Non-Independent and Executive Director Vincent Chong Sy Feng The Strategy and Finance Committee’s (SFC) role includes guiding management in the development and execution of the Group’s five-year plan and growth strategies as well as deliberating and approving tender proposals which are above 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. Access our ST Engineering Sustainability Report The SFC also reviewed the 2022 Budget prior to submission to the Board for approval. SFC met in 2021 2 times Research, Development and Technology Committee Non-Independent and Non-Executive Director Tan Peng Yam (Chairman) Independent and Non-Executive Directors Lim Chin Hu Teo Ming Kian Non-Independent and Executive Director Vincent Chong Sy Feng 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 well as identifying new technologies that will enhance the core businesses of the Group. Please refer to page 30 of this Annual Report for details on the Company’s Technology & Innovations activities and expenditures. RD&T met in 2021 1 time 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 Independent and Non-Executive Directors Kwa Chong Seng (Chairman) Lim Chin Hu Lim Sim Seng Teo Ming Kian The Executive Resource and Compensation Committee (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. All ERCC members are non-executive independent directors. ERCC met in 2021 3 times 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). 103 CORPORATE OVERVIEW PERFORMANCE REVIEW SUSTAINABILITY FINANCIAL REPORT Strategy and Finance Committee Independent and Non-Executive Directors Kwa Chong Seng (Chairman) Lim Ah Doo Lim Chin Hu Lim Sim Seng Teo Ming Kian Non-Independent and Executive Director Vincent Chong Sy Feng The Strategy and Finance Committee’s (SFC) role includes guiding management in the development and execution of the Group’s five-year plan and growth strategies as well as deliberating and approving tender proposals which are above 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. Access our ST Engineering Sustainability Report The SFC also reviewed the 2022 Budget prior to submission to the Board for approval. SFC met in 2021 2 times Research, Development and Technology Committee Non-Independent and Non-Executive Director Tan Peng Yam (Chairman) Independent and Non-Executive Directors Lim Chin Hu Teo Ming Kian Non-Independent and Executive Director Vincent Chong Sy Feng 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 well as identifying new technologies that will enhance the core businesses of the Group. Please refer to page 30 of this Annual Report for details on the Company’s Technology & Innovations activities and expenditures. RD&T met in 2021 1 time 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 Independent and Non-Executive Directors Kwa Chong Seng (Chairman) Lim Chin Hu Lim Sim Seng Teo Ming Kian The Executive Resource and Compensation Committee (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. All ERCC members are non-executive independent directors. ERCC met in 2021 3 times 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). 103 CORPORATE OVERVIEW PERFORMANCE REVIEW SUSTAINABILITY FINANCIAL REPORT 62 ST ENGINEERING SUSTAINABILITY REPORT 2021 OVERVIEW OUR SUSTAINABILITY APPROACH ENVIRONMENTAL SOCIAL GOVERNANCE AWARDS INDEX
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