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ANNUAL REPORT 2015
FRASERS HOSPITALITY TRUST
Principle 5:
Board Performance
The REIT Manager’s Nominating Committee makes recommendations to the Board on relevant matters relating to the
development of a process to evaluate the performance of the Board, Board committees and directors. Members of
the Board will be required to assess the Board’s performance, which includes areas such as the Board’s composition
and processes, effectiveness in its management of FHT’s performance, and other objective performance criteria which
allow for comparison with the REIT Manager’s peers and advisers, how the Board enhanced long–term unitholder
value for FH-REIT.
The findings of the assessment will be reviewed by the Board with a view to improving its overall effectiveness in
carrying out its role.
The REIT Manager’s Board is of the view that in the financial period, it operated effectively and each of its members
contributed to its overall effectiveness and commits to maintain such effectiveness.
Principle 6:
Access to Information
It is the Management’s commitment that the Board, the REIT Manager’s Nominating Committee and the REIT
Manager’s ARC Committee are provided with complete, timely and adequate information, both prior to Board and
Board committee meetings and on an ongoing basis so as to allow the Board and Board committee members to
discharge their duties. Prior to each Board meeting and Board committee meeting, papers on matters to be discussed
are sent to Board members and Board committee members ahead of such meetings, so that such matters may be
considered and discussed thoroughly and fully, prior to the making of any decision. Management may be requested to
attend Board meetings so as to be at hand to answer any questions or contribute to any discussions. Presentations are
made by Management at the Board meetings to facilitate deliberations and discussions.
For matters which require the Board’s decision outside such meetings, board papers will be circulated through the
Company Secretary for the Board’s consideration, with discussions and clarifications taking place between members
of the Board and Management, where required, before approval is granted.
Directors at their discretion may seek and obtain independent professional advice, where necessary, in the furtherance
of their duties, and any expenses and costs associated thereto are borne by the Managers, subject to the costs being
approved by the Chairman in advance as being reasonable.
Directors have separate and independent access to the Company Secretary
*
, who attends all Board meetings and
advises the Board on relevant corporate governance issues, facilitates orientation programmes for the new Directors
and assists with their professional development as required. The Company Secretary ensures compliance with Board
procedures and relevant rules and regulations. Under the direction of the Chairman, the Company Secretary is
responsible for ensuring good information flow between the Board and Management. Direct communication between
the CEO, the Chairman and members of the Board is encouraged by the Board, and the Board may at its discretion
communicate with Management if it so wishes.
*
Mr Anthony Cheong Fook Seng was appointed Company Secretary on 15 January 2014. Mr Piya Treruangrachada was appointed Joint
Company Secretary on 30 April 2014. Since the cessation of Mr Anthony Cheong Fook Seng’s appointment on 1 September 2014, Mr Piya
Treruangrachada remains as the sole Company Secretary.
CORPORATE GOVERNANCE REPORT
