(D) COMMUNICATION WITH
SHAREHOLDERS
Principle 14:
Communication with
Shareholders
Principle 15:
Greater Shareholder
Participation
CapitaLand’s Investor Relations
and Corporate Communications
Departments have a key objective
to facilitate effective communications
with the Company’s shareholders,
analysts, fund managers and
the media.
CapitaLand’s quarterly results
for the 2006 financial year were all
released on a timely basis, within 45
days of the end of the relevant quarter.
CapitaLand has won the “Most
Transparent Property Company”
given by the Securities Investors
Association of Singapore (“SIAS”)
for six consecutive years from
2001 – 2006.
We continue, on a timely and
consistent basis, to keep stakeholders
and analysts informed of our corporate
activities in Singapore and around
the world. We communicate on an
immediate basis as required under the
Listing Manual of the SGX-ST, or as
soon as possible where immediate
disclosure is not practicable. Regular
briefings and meetings for analysts
and the media are held, generally
coinciding with the release of the
Group’s half-year and full-year
results. During these briefings,
Senior Management reviews the
Group’s most recent performance
and discusses the Company’s outlook. In the interest of transparency
and broad dissemination, these briefings
are webcast live and made accessible
to the public on the Group’s website
at www.capitaland.com. Materials
used in the briefings are also
disseminated via SGXNET.
Recordings of the briefings
are archived on the website.
In the past year, Senior
Management conducted over 478
meetings with institutional investors.
Management also participated in
investor conferences in New York,
Chicago, Denver, San Francisco,
Los Angeles, Frankfurt, Amsterdam,
London, Edinburgh and Hong Kong
besides Singapore. In addition,
CapitaLand pursues opportunities to
keep its retail shareholders informed
through the business media, website
postings and other publicity channels.
We support the Code’s principle to
encourage shareholder participation.
Shareholders receive the summary
financial report and notice of the AGM.
Notice of the AGM is also advertised
in the press and issued via SGXNET.
At the AGM, shareholders have the
opportunity to communicate their
views and discuss with the Board and
Management on matters affecting the
Company. The respective Chairpersons
of the AC, NC and ERCC, and the
external auditors, endeavour to be
present at the AGM. Voting in absentia
and by email may only be possible
following careful study to ensure that
the integrity of the information and
authentication of the identity of
shareholders through the web are not
compromised and following legislative
changes being effected to recognise
electronic voting.
BOARD COMMITTEES
In addition to the NC, ERCC and
AC described under Principles 4, 7
and 11, there are four other Board
committees as follows:
Investment Committee
The IC is chaired by Dr Hu Tsu Tau
and comprises Mr Hsuan Owyang,
Mr Liew Mun Leong, Mr Jackson
Peter Tai and Mr Olivier Lim Tse Ghow,
the Group Chief Financial Officer.
Since 2000, the Board had
approved the Delegation of Authority
to the various SBU Boards and
raised the investment approval limits.
Apart from convening five formal
meetings of the IC in 2006, the views
of the IC and Board were actively
sought by the SBUs, and the
approval of the IC obtained where
appropriate.
Finance and Budget Committee
The FBC is chaired by Mr Hsuan
Owyang and comprises Mr Liew
Mun Leong, Mr Jackson Peter Tai
and Mr Olivier Lim Tse Ghow, the
Group Chief Financial Officer.
In 2006, the FBC met two times
to review the financial forecasts and
the annual financial plan of the Group.
Major business events, initiatives,
strategies and areas of concern
were also discussed at the meetings.
In addition, the FBC reviews and
approves updates to the CapitaLand
Group Finance Manual.
Risk Committee
The RC was formed in September
2002 as part of CapitaLand’s efforts
to strengthen its risk management
processes and framework. |
