for approval prior to the beginning of each year. The AC also meets with CL IA at least once a year
without the presence of Management. CL IA has unfettered access to the Manager’s documents,
records, properties and employees, including access to the AC.
CL IA is a corporate member of the Singapore branch of the Institute of Internal Auditors Inc. (IIA),
which has its headquarters in the USA. CL IA subscribes to, and is guided by, the International
Standards for the Professional Practice of Internal Auditing (Standards) developed by the IIA and has
incorporated these Standards into its audit practices.
To ensure that internal audits are performed by competent professionals, CL IA recruits and employs
suitably qualified professional staff with the requisite skill set and experience.
CL IA identifies and provides training and development opportunities for its staff to ensure their
technical knowledge and skill set remain current and relevant.
(D) SHAREHOLDER RIGHTS AND RESPONSIBILITIES
Shareholder Rights
Principle 14:
Companies should treat all shareholders fairly and equitably, and should recognise, protect
and facilitate the exercise of shareholders’ rights, and continually review and update such
governance arrangements.
The Manager is committed to treating all Unitholders fairly and equitably and keeping all Unitholders,
other stakeholders and analysts informed of the performance and changes in CRCT or its business
which would be likely to materially affect the price or value of Units, on a timely and consistent basis,
so as to assist Unitholders and investors in their investment decisions.
The Manager provides accurate and timely disclosure of material information on the SGXNet.
All Unitholders are entitled to attend general meetings and are accorded the opportunity to
participate effectively and vote at general meetings. All Unitholders are also informed of the rules,
including voting procedures, governing such meetings.
Communication with Shareholders
Principle 15:
Companies should actively engage their shareholders and put in place an investor relations
policy to promote regular, effective and fair communication with shareholders.
The Manager has in place the Investor Relations and Corporate Communications team which
facilitates effective communication with Unitholders, analysts, fund managers and the media.
The Manager actively engages with Unitholders and has put in place a Unitholders’ Communication
and Investor Relations Policy (Policy) to promote regular, effective and fair communication with
Unitholders. The Policy is uploaded on CRCT’s website at
.
The Board has established the CDC which assists the Board in the discharge of its function to meet
the legal and regulatory obligations arising under the laws and regulations of Singapore relating to
and to conform to best practices in the corporate disclosure and compliance process.
More information on the Manager’s investor and media relations with Unitholders can be found in the
Investor & Media Relations section on pages 59 to 60 of the Annual Report and the Policy which is
available on CRCT’s website.
CRCT’s distribution policy is to distribute at least 90.0% of its distributable income (other than gains
from the sale of properties by CRCT which are determined to be trading gains), with the actual level
of distribution to be determined at the Manager’s discretion.
Corporate Governance
38 | CapitaRetail China Trust Annual Report 2014
