Asia-Pacific Strategic Investments Limited - Annual Report 2021

Corporate Governance Report

REMUNERATION MATTERS

Procedures for Developing Remuneration Policies

Principle 6: The Board has a formal and transparent procedure for developing policy on director and executive remuneration, and for fixing the remuneration packages of individual directors and key management personnel. No director is involved in deciding his or her own remuneration.

The Remuneration Committee (“RC”) comprises the following directors:

Chew Soo Lin (Chairman) Dr Lam Lee G (Member) Lien Kait Long (Member)

The RC is made up entirely of independent non-executive directors so as to minimize the risk of any potential conflict of interest. The RC is scheduled to meet at least once a year. The RC is regulated by a set of terms of reference and has access to independent professional advice inside and outside the Company, if necessary, in respect of the remuneration of all directors and key management personnel.

The RC’s main duties are:

1. recommending to the Board a remuneration framework for each director (executive and independent) and key management personnel;

2. determining the appropriateness of the remuneration packages for each director (executive and independent) and key management personnel;

3. reviewing the Company’s obligations arising in the event of termination of the executive director and key management personnel’s contracts of service, to ensure that such clauses are fair and reasonable and not overly generous; and

4. considering all aspects of remuneration, including but not limited to directors’ fees, salaries, allowances, bonuses, options, share-based incentives and awards, and benefits-in-kind.

For the financial year under review, the Company did not engage any remuneration consultants.

Level and Mix of Remuneration

Principle 7: The level and structure of remuneration of the Board and key management personnel are appropriate and proportionate to the sustained performance and value creation of the company, taking into account the strategic objectives of the company. The Company adopts a formal and transparent procedure for developing policy on key management personnel remuneration and for fixing remuneration packages of individual directors. No director is involved in deciding his own remuneration. In setting remuneration packages, the Company takes into account pay and employment conditions of comparable companies in the same or similar industries, as well as the Group’s relative performance and the performance of individual director or key management personnel.

ANNUAL REPORT 2021

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