Asia-Pacific Strategic Investments Limited - Annual Report 2021

Corporate Governance Report

Board Membership

Principle 4: The Board has a formal and transparent process for the appointment and re-appointment of directors, taking into account the need for progressive renewal of the Board.

The members of the NC are as follows:

Dr Lam Lee G (Chairman) Dato’ Dr Choo Yeow Ming (Member) Chew Soo Lin (Member)

The majority of the NC members, including the Chairman of the NC are independent. The NC is scheduled to meet at least once a year. The NC is regulated by a set of terms of reference and its role is to establish a formal and transparent process for:

1.

making recommendations to the Board on all Board appointments;

2. the re-nomination of the directors for re-election following their retirement pursuant to the Company’s Constitution, having regard to each such director’s past contribution and performance, skillset and his ability for his future contribution;

3. determining annually whether or not a director is independent in accordance with the guidelines set out in the Code;

4. deciding whether or not a director is able to and has adequately carried out his duties as a director;

5. subject to the Board’s approval, deciding on how the Board’s performance is to be evaluated and proposing objective performance criteria that address how the Board has enhanced long-term shareholder value;

6. carrying out the process (to be implemented by the Board) to assess the effectiveness of the Board as a whole and the contribution by each individual director to the effectiveness of the Board;

7. reviewing and making recommendation to the Board on relevant matters relating to the succession plans of the Board in particular the Chairman, the CEO and key management personnel; and

8. reviewing and making recommendations to the Board on the training and professional development programme for the Board and its directors.

In the selection and nomination for new directors, the NC identifies the key attributes that an incoming director should have, based on attributes of the existing Board and the requirements of the Group. After endorsement by the Board of the key attributes, the NC taps the resources of the directors’ personal contacts for recommendations of potential candidates. The potential candidates will go through a shortlisting process. Interviews are then set up with the shortlisted candidates for the NC to assess them before a decision is made.

ASIA-PACIFIC STRATEGIC INVESTMENTS LIMITED

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