OVERVIEW PERFORMANCE SUSTAINABILITY FINANCIALS APPENDIX 137 ANNUAL REPORT 2024 Corporate Governance INTRODUCTION Perennial Holdings Private Limited (“Perennial Holdings” or “Company”, together with its subsidiaries, the “Group”) is committed to adopting high standards of corporate governance and regularly reviews and benchmarks its corporate governance framework. Perennial Holdings aims to enhance long-term value creation and recognises that good corporate governance will instill business confidence and is key to the long-term success of the Group. Perennial Holdings is pleased to present its report on corporate governance which describes its corporate governance framework and practices for the financial year ended 31 December 2024 (“FY2024”). Corporate Culture and Core Values An organisation is only as good as its people. As such, the Company and the Board believe in instilling values from the top down in order to ensure excellence. Our core values are teamwork, integrity, excellence and sustainability, and the Company and the Board strive to build a CORPORATE GOVERNANCE FRAMEWORK BOARD OF DIRECTORS Mr Pua Seck Guan Mr Ron Sim Mr Fang Fenglei Mr Kuok Khoon Hong Ms Teo La-Mei Ms Noorsurainah Tengah Mr Lim Sze Han (Alternate Director to Mr Fang Fenglei) Mr Lau Teck Sien (Alternate Director to Ms Noorsurainah Tengah) Nominating and Remuneration Committee Corporate Disclosure Committee Executive Committee Key Objective: Recommend appointment of Directors, review board profile, oversee remuneration packages of Key Management Personnel and set appropriate remuneration framework and policies. Key Objective: Review the promptness and adequacy of disclosures and to approve the public release of material information. Key Objective: Assist the Board in the approval of key strategic decisions. Chairman: Mr Kuok Khoon Hong Members: Mr Ron Sim Mr Fang Fenglei Members: Ms Teo La-Mei Mr Pua Seck Guan Chairman: Mr Kuok Khoon Hong Members: Mr Ron Sim Mr Lim Sze Han Mr Pua Seck Guan culture where everyone in the Group works together to build an organisation that exemplifies these values. The Company prioritises teamwork by creating an environment where open communication, mutual respect and shared goals are key to its operations. Through regular activities such as team bonding sessions, as well as fitness and wellness programs, the Company strives to uphold its core value of teamwork. Apart from keeping employees happy and healthy, these also ultimately lead to enhanced productivity. THE BOARD’S CONDUCT OF AFFAIRS The Board is collectively responsible for the long-term success of the Group. The Directors collectively and individually exercise professional judgement in dealing with the business affairs of the Group and make decisions which are in the best interests of the Group. As part of providing overall leadership to the Group, the Board also sets the appropriate tone from the top by being a strong advocate of responsible conduct and good ethical behaviour while carrying out the Group’s business activities. The Board also advises the management team (“Management”) on the desired culture of the Group, monitors Management’s implementation of such culture and ensures there is proper accountability within the Group. Non-Executive Directors also confer among themselves, without the presence of Management, as and when the need arises. The Chairman of such meetings provides feedback to the Board and/or Executive Chairman and Chief Executive Officer (“CEO”) of the Board, as appropriate. The principal duties and responsibilities of the Board are to: • provide leadership and guidance on the formulation of the Group’s overall business strategy plans and direction; • oversee the Group’s overall performance objectives, key operational initiatives and major business decisions;
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