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PERENNIAL REAL ESTATE HOLDINGS LIMITED
Annual Report 2015
CORPORATE GOVERNANCE
Guideline
Questions
How has the Company complied?
Guideline 4.6
Please describe the board nomination
process for the Company in the last financial
year for (i) selecting and appointing new
directors and (ii) re-electing incumbent
directors.
The new Board and the Board
Committees comprising six Directors were
reconstituted on 27 October 2014
following approval by the Shareholders at
the EGM on 10 October 2014.
During the Period, one new Director,
Mr. Ooi Eng Peng, was appointed on
28 July 2015. The NC has reviewed
Mr. Ooi's qualifications and work
experience and also met with him. Having
been satisfied that Mr. Ooi has the
relevant qualifications and extensive
experience in the property industry and
fund management business, coupled with
his strong finance background, the NC
recommended his appointment as a
director to the Board as well as a member
of the ARC.
As all Directors are newly appointed
during the Period, there was no
re-election of any incumbent director
during the said period.
Guideline 1.6
a) Are new directors given formal training?
If not, please explain why.
b) What are the types of information and
training provided to (i) new directors
and (ii) existing directors to keep them
up-to-date?
Yes, new Directors undergo an induction
programme.
The induction programme for new Directors
include briefings on board policies and
processes, overall strategic plans and
direction for Perennial, its business activities,
financial performance, organisation structure,
regulatory environment and corporate
governance practices.
All existing Directors are provided with
opportunities for continuing education in
areas such as directors’ duties and
responsibilities, changes to regulations and
accounting standards and industry-related
matters. Site visits are also organised for
the Directors to familiarise themselves with
Perennial’s assets and better understand
the operational aspects of the group.
