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CORPORATE GOVERNANCE
In addition, the Board has separate and independent access to Management, the Company Secretary, internal and external
auditors at all times. Where necessary, each Director of the Manager has the right to seek independent professional advice on
matters relating to A-REIT at the Manager’s expense, to enable him to discharge his duties.
The Company Secretary administers, attends and prepares minutes of Board and proceedings of all Committees. She assists the
Chairman of the Board and the Committees to ensure that proper procedures are followed and that the Company’s Memorandum
and Articles of Association, the Committees’ Terms of Reference, the Trust Deed, relevant rules, regulations, best practices, and
internal policies, including applicable provisions of the Property Funds Appendix, are complied with. Under the direction of the
Chairman of the Board and the Committees, she is responsible for ensuring information fows within and among the Board, the
Committees and Management. She also works with the Management to ensure that Board and Committee papers are provided
to each Director ahead of meetings.
In the year under review, the Company Secretary has attended all Board and Committees’ meetings.
The Company Secretary and the CEO are the primary channels of communication between the Manager and the SGX-ST.
REMUNERATION OF DIRECTORS AND KEY EXECUTIVE OFFICERS
All fees and remuneration payable to the Directors, key executive offcers and staff of theManager are paid by theManager and not A-REIT.
Themembers of the current HRRC areMr Koh Soo Keong as Chairman, Ms Chong Siak Ching, Mr Joseph Chen andMr Henry Tan Song Kok.
The structure of Directors’ fees for Non-Executive Directors comprises a base fee for serving as a Director and additional fees for
serving on Board Committees. It takes into account the following:
• Financial performance of A-REIT and the Manager;
• Directors’ responsibilities and contributions; and
• Industry practices and norms on remuneration, including the guidelines set out in the Statement of Good Practice issued by
the Singapore Institute of Directors.
Directors’ fees paid to each of the following Non-Executive Directors for FY11/12 did not exceed S$250,000:
• Mr Koh Soo Keong
• Mr Joseph Chen
• Mr Chia Kim Huat
• Mr Henry Tan Song Kok
• Ms Monica Villegas Tomlin
• Mr Teo Eng Cheong
• Ms Chong Siak Ching
The Manager advocates a performance-based remuneration system for key executive offcers of the Manager. The system is
fexible, responsive to the market and based on individual employee’s performance. The remuneration structure is designed as
such to retain, reward and motivate the individual to stay competitive and relevant.
Remuneration of key management staff of the Manager is reviewed and approved by the HRRC.
ASCENDAS REAL ESTATE INVESTMENT TRUST
ANNUAL REPORT FY11/12
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