business (including their roles as executive, non-executive and independent Directors (ID)). Directors, including those who have no prior experience as a director of an issuer listed on the SGX-ST, will undergo training as prescribed by the SGX-ST on, for example, the roles and responsibilities of a director. Directors are provided with opportunities for continuing education in areas such as director’s duties and responsibilities, laws and regulations, risk management and accounting standards, industry related matters and sustainability (including sustainability training as prescribed under the Listing Manual) so as to be updated on matters that enhance their performance as Directors or Board Committee members. The costs of training of all Directors are borne by the Manager. In FY 2024, Ms Wan Mei Kit has completed the requisite training. Each newly appointed Director is provided with a letter of appointment and a Director’s Manual (containing a broad range of information relating to a Director’s roles and responsibilities and the Manager’s policies on disclosure of interests in securities, conflicts of interests and securities trading restrictions). All Directors, upon appointment, undergo an induction programme which focuses on orientating the Director to CLCT’s business, operations, policies, strategies, and financial and governance practices. Directors are provided with opportunities for continuing education in areas such as Director’s duties and responsibilities, laws and regulations, risk management and accounting standards, industry related matters and sustainability (including sustainability training as prescribed under the Listing Manual) so as to be updated on matters that enhance their performance as Directors and Board Committee members. Directors can also request and recommend training in any other area or recommend specific training and development programmes to the Board3. In FY 2024, the training and professional development programmes for the Directors included seminars and training sessions conducted by experts and senior business leaders on artificial intelligence, OECD Pillar Two Rules for S-REITs, sustainability and sustainability related disclosures. Board Committees The Board established various Board Committees to assist in the discharge of its functions. These Board Committees are the Audit and Risk Committee (ARC), Nominating and Remuneration Committee (NRC) and the Executive Committee (EC). Each Board Committee has clear written terms of reference (setting out its composition, authorities and duties, including reporting back to the Board) and operates under delegated authority from the Board with the Board retaining overall oversight. The decisions and significant matters discussed at Board Committees meetings are reported to the Board on a periodic basis. The minutes of the Board Committee meetings are circulated to all Board members. The composition of the various Board Committees as at the date of this Annual Report is set out in the table below. Board Members Audit and Risk Committee Nominating and Remuneration Committee Executive Committee Tan Tee How, Chairmani – C – Chan Kin Leong Gerry, CEOii – – M Neo Poh Kiat C M – Professor Ong Seow Eng M – – Tay Hwee Pio M – – Wan Mei Kit M – – Chua Keng Kimiii M – – Quah Ley Hoon – M C Puah Tze Shyang – – M Tan Tze Wooiiv – – M Denotes: C – Chairman M – Member CEO – Chief Executive Officer i Mr Tan Tee How was a member of the Board and a member of the NRC before he succeeded Mr Soh Kim Soon as Chairman of the Board and Chairman of the NRC with effect from 23 April 2024. ii Mr Chan Kin Leong Gerry was appointed as a Director and a member of the EC with effect from 1 January 2025. iii Mr Chua Keng Kim was appointed as a Director and a member of the ARC with effect from 1 January 2025. iv Mr Tan Tze Wooi was re-designated as a non-executive non-independent Director with effect from 1 January 2025. 3 The Board considers all Board members’ views and feedback in recommending training and professional development programmes for the Board and the Directors. Hence, any Director may recommend specific training and development programmes which he/she believes would benefit the Directors or the Board. The review of training and professional development programmes is done by the Board as a whole, and this function was not delegated to the NRC. While this is a partial deviation from Provision 4.1(c) which requires the NRC to review and make recommendations to the Board on the training and professional development programmes for the Board and its Directors, this is consistent with the intent of Principle 4 of the Code. 55 Annual Report 2024
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