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CapitaLand observes high standards of corporate conduct in line with the Principles of the Code
of Corporate Governance 2005 (the “Code”). We believe that each company needs to develop and
maintain sound policies and practices to meet its specific business needs and to provide a solid
foundation for a trusted and respected business enterprise. We remain focused on the substance
and spirit of the Principles of the Code while achieving operational excellence and delivering
the Group’s long term strategic objectives.
This Report on our corporate governance practices
for financial year 2007 (“Report”) describes our application of good governance principles in building a company committed to integrity, excellence and its people. The application is underpinned by sound systems of internal controls and accountability,
which helps to promote and drive long term sustainable growth and shareholder value.
The following sections covering each of the Principles outline our policies and practices. |
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| (A) BOARD MATTERS |
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Principle
1: Board’s Conduct of Affairs
CapitaLand is led by an effective Board comprising
a majority of non-executive directors independent
of Management. Each director brings to the Board
his skills, experience, insights and sound judgment, which together with
strategic networking relationships, serves to further
the interests of the Group. At all times, the directors
are collectively and individually obliged to act
in good faith and consider the best interests of
the Company.
The key roles of our Board are to:
• Guide the corporate strategy and directions of the Group;
• Ensure that Senior Management discharges business leadership and the highest quality of management skills with integrity and enterprise; and
• Oversee the proper conduct of the Group’s business.
The Board currently comprises 12 directors, of whom
11 are non-executive directors. They are business
leaders and professionals with governmental, financial,
banking, tax, trading, real estate, transport and
legal background. Profiles of the directors are
found on page 40 of this Report.
To maintain effective supervision and accountability at each of the Board
and Management levels, the positions of Chairman
and Chief Executive Officer (“CEO”)
are held by two persons. |
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