The proposed meetings for the Board and all Board
Committees for each new calendar year are set out in a
schedule of meetings, which is sent to all the Board members
before the start of each calendar year with a view to facilitate
attendance by Board members. A record of directors’
attendance at Board and Committees meetings for FY14/15 is
shown below:
Name of Director
Board
Meeting
Audit
Committee
Meeting
Investment
Committee
Meeting
Nominating
Committee
Meeting
Human
Resource and
Remuneration
Committee
Meeting
Mr Philip Yeo Liat Kok
3
–
1
(iii)
1
2
Mr David Lim Tik En
5
4
5
1
2
Mr Michael Grenville Gray
5
4
2
(iii)
–
–
Mr Rakesh Kumar Aggarwal
5
–
5
–
–
Mr T.V. Mohandas Pai
5
4
5
–
–
Mr Girija Prasad Pande
5
–
5
–
–
Mr Ng Eng Leng
5
4
3
(iii)
–
–
Mr Khiatani Manohar Ramesh
5
–
5
1
2
Mr Sanjeev Durjhati Prasad Dasgupta
(i)
3
2
(iii)
3
–
–
Mr Jonathan Yap Neng Tong
(ii)
2
2
(iii)
2
1
(iii)
2
(iii)
Total Number of Meetings Held
5
4
5
1
2
(i) Mr Sanjeev Dasgupta was appointed as Director and a member of IC on 1 October 2014
(ii) Mr Jonathan Yap retired as Director on 1 October 2014 and ceased to be a member of IC on the same day.
(iii) Attended by invitation.
Records of all such meetings including discussions on key
deliberations and decisions taken are maintained by the
Company Secretary of the Trustee-Manager (“Company
Secretary”). The Trustee-Manager’s Articles of Association and
the Board Committee’s written terms of reference allow for
the meetings of the Board and Board Committees to be held
via teleconferencing.
Internal Guidelines
The Board has adopted a set of internal guidelines and
financial regulations, which set out approval limits for,
amongst others, capital expenditure, new investments and
divestments, the operation of bank accounts, and bank
borrowings. The Board approves transactions exceeding
certain threshold limits, while delegating authority for
transactions below those limits to the Investment Committee.
For transactions below a certain level, the authority is further
delegated to Management to facilitate operational efficiency.
The internal guides adopted by the Board also set out key
matters that are specifically reserved for approval by the
Board, such as a-iTrust’s long term objectives and strategy,
its policies and annual budgets, risk management framework
and internal controls to safeguard the Unitholders’
interests and assets, major capital projects, policies for
compliance with legislative and regulatory requirements
or other requirements with similar effect, the formation of
Board Committees and their terms of reference (including
delegation of Board duties to such Committees with or
without limit) and any other matters which require the
Board’s approval as prescribed under relevant legislation,
regulations or the provisions of the Trust Deed.
The Board is assisted by the Investment Committee in
the evaluation and approval (within designated limits) of
investments, divestments, financing and bank facilities. The IC
also reviews and provides recommendations to the Board on
investment policies and the strategic direction of the Trust. The
IC comprises 6 directors, namely Mr David Lim as Chairman,
Mr Rakesh Aggarwal, Mr Manohar Khiatani, Mr Mohandas
Pai, Mr Girija Pande and Mr Sanjeev Dasgupta. Save for Mr
Khiatani and Mr Dasgupta, all IC members are considered
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