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CORPORATE GOVERNANCE
1. evaluating and approving any proposed investments, asset enhancements and divestments to be made or entered into by
A-REIT which are within the Committee’s approval limits as set out in A-REIT’s prevailing Financial Regulations;
2. reviewing from time to time or when necessary, A-REIT’s investment plan, divestment plan and asset enhancement plan;
3. considering and recommending to the Board changes to the Committee’s approval limits as set out in A-REIT’s Financial
Regulations;
4. reporting to the Board the outcome of any review, evaluation, assessment or decisions made;
5. undertaking any other responsibilities that may be directed or delegated by the Board.
Human Resource & Remuneration Committee
The Human Resource & Remuneration Committee (“HRRC”) comprises 4 members namely Mr Koh Soo Keong (Chairman), Ms
Chong Siak Ching, Mr Joseph Chen and Mr Henry Tan. The Terms of Reference of the HRRC require at least 3 members of the
Committee to be appointed by the Board from amongst its members and that the HRRC shall comprise entirely non-executive
directors, the majority of whom, including the Chairman, must be independent. All HRRC members are non executive Directors
and all, except Ms Chong, are considered independent.
The duties and responsibilities of the HRRC include making recommendations to the Board on a framework of remuneration
and the specifc remuneration packages for each Management staff, including the Chief Executive Offcer. Based on the Terms
of Reference of the HRRC, the recommendations shall cover all aspects of remuneration, including but not limited to salaries,
allowances, bonuses, benefts-in-kind. The recommendations shall also contain details such as a breakdown (in percentage
terms) of remuneration earned through base/fxed salary, variable or performance-related bonuses, benefts-in-kind and other
incentives and the total potential cost to the Manager and/or A-REIT.
In carrying out its duties, the Committee considers the level and mix of remuneration as follows:
(i) the level of remuneration should be appropriate to attract, retain and motivate Management staff needed to run A-REIT
successfully;
(ii) a signifcant proportion of the remuneration should be structured so as to link rewards to corporate and individual performance;
(iii) the performance-related elements of remuneration should be designed to align the interests of Management staff with those
of the unitholders of A-REIT;
(iv) there should be appropriate and meaningful measures for the purpose of assessing the performance of the Chief Executive
Offcer;
(v) in setting the remuneration packages, the Committee shall take into account the pay and employment conditions within the
industry and in comparable companies, however, such comparison should not cause an upward ratchet of remuneration
levels with no corresponding improvements in the performance of both the Manager and A-REIT; and
(vi) in setting the remuneration packages, the Committee shall evaluate Management staff performance including both qualitative
and objective measures such as people management skills, performance planning and actual results achieved. This evaluation
will be used for assessing payment of variable and performance-related bonuses.
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A DECADE OF ENABLING BUSINESSES