Asia-Pacific Strategic Investments Limited - Annual Report 2021

Corporate Governance Report

Asia-Pacific Strategic Investments Limited (the “Company”) and its subsidiaries (collectively, the “Group”) are committed to maintaining a high standard of corporate governance and has put in place self-regulatory corporate practices to protect the interests of its shareholders and enhance long-term shareholder value. This Corporate Governance Report describes the Company’s corporate governance processes and activities that are currently in place for the financial year ended 30 June 2021, with special reference to the relevant provisions of the Code of Corporate Governance 2018 (the “Code”). In line with the Code, the Board of Directors (the “Board”) hereby confirms that the Company has generally adhered to the principles and guidelines of the Code and deviations from any guidelines of the Code are disclosed and explained in this report.

BOARD MATTERS

The Board’s Conduct of Affairs

Principle 1: The company is headed by an effective Board which is collectively responsible and works with Management for the long-term success of the company.

The Board comprises:

Dato’ Dr Choo Yeow Ming (Chairman and Chief Executive Officer) Lum Moy Foong (Non-Executive Director) Dr Lam Lee G (Lead Independent Director)

Chew Soo Lin (Independent Director) Lien Kait Long (Independent Director)

The Board oversees the affairs of the Group and focuses on strategies and policies, with particular attention paid to growth and financial performance. It delegates the formulation of business policies and day-to-day management to the executive directors. The Board is responsible for:

1. providing entrepreneurial leadership, setting strategic directions and long-term goals of the Group, and ensuring that the necessary financial and human resources are in place for the Group to meet its objectives;

2. establishing a framework of prudent and effective controls that enables risk to be assessed and managed, including safeguarding of shareholders’ interests and the Group’s interests;

3. reviewing and evaluating Management performance towards achieving set organisational goals;

4. identifying the key stakeholder groups and recognising that their perceptions affect the Group’s reputation;

5. setting the Group’s values and standards (including ethical standards), and ensuring that obligations to shareholders and other stakeholders are understood and met;

6. considering sustainability issues, e.g. environmental, social and governance aspects, as part of its strategic formulation;

7. ensuring the Group’s compliance with laws, regulations, policies, directives, guidelines and internal code of conduct; and

8. reviewing and approving half-year and full-year results announcements.

ANNUAL REPORT 2021

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