Asia-Pacific Strategic Investments Limited - Annual Report 2021

Corporate Governance Report

In view of the current COVID-19 situation, the forthcoming AGM to be held in respect of financial year ended 30 June 2021 will be convened and held by way of electronic means pursuant to the COVID-19 (Temporary Measures) (Alternative Arrangements for Meetings for Companies, Variable Capital Companies, Business Trusts, Unit Trusts and Debenture Holders) Order 2020 (the “Order”), and the joint statement issued by the Accounting and Corporate Regulatory Authority, Monetary Authority of Singapore and Singapore Exchange Regulation providing additional guidance on the conduct of general meetings of listed and non-listed entities during elevated safe distancing period (the “Guidance”). Alternative arrangements relating to attendance at the AGM via electronic means, submission of questions to the Chairman of the AGM in advance, addressing of substantial and relevant questions at the AGM (if any) and appointing the Chairman of the AGM as the proxy, will be put in place. Minutes of the AGM held on 29 October 2021 will be published on the SGXNet and also on the Company’s corporate website within one (1) month after the AGM date. The Company does not have a fixed dividend policy. The form, frequency and amount of dividends will depend on the Company’s earnings, general financial condition, results of operations, capital requirements, cash flow, general business condition, development plans and other factors as the directors might deem appropriate. The Board is not recommending any dividends for financial year ended 30 June 2021 because of losses incurred and the financial position of the Company.

Engagement with Shareholders

Principle 12: The company communicates regularly with its shareholders and facilitates the participation of shareholders during general meetings and other dialogues to allow shareholders to communicate their views on various matters affecting the company.

In line with the Company’s obligations for continuing disclosure, the Board’s policy is for shareholders to be informed of all major developments and transactions that have an impact on the Group.

The Company does not practice selective disclosure. The Board will communicate pertinent information to its shareholders on a regular and timely basis through:

1. the Company’s annual report, which is prepared and issued to all shareholders. The Board makes every effort to ensure that the annual report includes all relevant information about the Group, including future development and other disclosures required by the Singapore Companies Act and the Singapore Financial Reporting Standards (International);

2. interim and full year financial statements containing a summary of the financial information and affairs of the Group. These are announced via the SGXNet;

3. notices of annual general meetings and extraordinary general meetings;

4.

analysts’ briefings;

5. announcements via SGXNet regarding major developments that affect the Group; and

6. the Group website at http://www.asiastrategic.com.sg from which shareholders can access information on the Group. The website provides, inter alia , all publicly disclosed financial information, corporate announcements, annual reports, and profiles of the Group. The Company will hold an AGM in October 2021. Such AGMs represent its principal forum of dialogue and interaction with shareholders. The Company will consider the use of other forums set out in the Code as and when such needs arise.

ASIA-PACIFIC STRATEGIC INVESTMENTS LIMITED

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