except if unusual circumstances make attendance impractical or if a Director has to recuse himself or herself from the meeting in relation to the sole matter under consideration at such meeting. All Directors currently on the Board as at the date of this Annual Report have attained a 100% attendance record for all Board and Board Committee meetings held in FY 2023. Sustainability The Manager places sustainability at the core of everything CLCT does and is committed to growing CLCT’s business in a responsible manner, delivering long-term economic value, and contributing to the environmental and social well-being of the communities where CLCT has a presence. The Board recognises the importance of sustainability as a business imperative and is responsible for overseeing the development of sustainability strategies and plans, including providing guidance to Management and monitoring progress towards achieving the goals of any sustainability initiatives. This is consistent with the principle that the Board plays an important role in considering and incorporating sustainability considerations as part of CLCT’s strategy development. This also ensures that Environmental, Social and Governance (ESG) risks and opportunities are holistically integrated into CLCT’s long-term strategy. In this regard, sustainability is integrated into each phase of the real estate life cycle, and the CLCT Group’s operations, financing activities, support for the environment, business ethics, corporate governance and care for people and communities are anchored in CLCT’s ESG approach. The Board’s oversight of CLCT’s sustainability strategies and plans also sets the tone at the top to ensure the alignment of CLCT’s activities with its purpose and stakeholder interests. CLCT reached numerous sustainability milestones during FY 2023 and the details of these accomplishments are set out under the “In Conversation with CEO” and “Sustainability Highlights” sections of this Annual Report. For more information regarding the Manager’s multi-faceted approach to sustainability management for CLCT, please refer to the “Sustainability Management” section of this Annual Report. Directors’ Development In view of the increasingly demanding, complex and multi-dimensional role of a Director, the Board recognises the importance of continual training and professional development for its Directors so as to equip them to discharge the duties and responsibilities of their office as Directors to the best of their abilities. The Nominating and Remuneration Committee has the responsibility to ensure that the Manager has in place a training and professional development framework to guide and support the Manager towards meeting the objective of having a Board which comprises individuals who are competent and possess up-to-date knowledge and skills necessary to discharge their duties and responsibilities. Directors who have no prior experience as a director of an issuer listed on the SGX-ST will be provided with training on the roles and responsibilities of a director of a listed issuer in accordance with the Listing Manual. The costs of training are borne by the Manager. The induction, training and development provided to new and existing Directors are set out below. Each newly appointed Director is provided with a formal letter of appointment setting out the key terms of appointment, the time commitment expected, the Manager’s guidelines on the tenure of Directors and other relevant matters pertaining to the appointment. He or she also has access to the Director’s Manual which includes information on a broad range of matters relating to the role, duties and responsibilities of a Director and the Manager’s policies relating to disclosure of interests in securities, conflicts of interest and securities trading restrictions. All Directors, upon appointment, also undergo an induction programme which focuses on orientating the Director to CLCT’s business, operations, strategies, organisation structure, responsibilities of the key management personnel (namely, the CEO and other persons having executive roles with authority and responsibility for planning, directing and controlling the activities of the Manager), and financial and governance practices. Conducted by the CEO and other key executives of Management, the induction programme also provides opportunities for the new Director to get acquainted with members of Management which facilitates their interactions at Board meetings. In compliance with Rule 210(5)(a) of the Listing Manual, where a newly appointed Director has no prior experience as a director of an issuer listed on the SGX-ST, such Director will undergo training on the roles and responsibilities of a director of a listed issuer. In this regard, Mr Tan Tee How has prior experience as a director of an issuer listed on the SGX-ST and Ms Quah Ley Hoon has completed the requisite training as at the date of this Annual Report. Further, Ms Wan Mei Kit has completed the Singapore Institute of Directors - Environmental, Social and Governance Essentials training as at the date of this Annual Report and will complete all of the remaining requisite training in FY 2024. ANNUAL REPORT 2023 113 Financials Framework Portfolio Performance Leadership Overview
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