Page 33 - ar2012

29 Annual Report 2012
Report of the Directors
30 September 2012
3 Directors’ Interests in Shares or Debentures (cont’d)
There was no change in any of the above mentioned interests between the end of the current fnancial year
and 21 October 2012.
Mr Ben Tan Chee Beng, Mr Alvin Tan Chee Tiong and Ms Melanie Tan Bee Bee, who by virtue of their interest in
not less than 20% of the issued share capital of the Company, are deemed to have an interest in the shares of
the subsidiaries held by the Company.
Except as disclosed in this report, no directors who held offce at the end of the fnancial year had an interest
in the shares, share options, warrants or debentures of the Company, or of related corporations, either at the
beginning or at the end of the fnancial year.
4 Directors’ Contractual Benefts
Since the end of the previous fnancial year, no director has received or become entitled to receive a beneft
by reason of a contract made by the Company or a related corporation with the director or with a frm of which
he is a member, or with a company in which he has a substantial fnancial interest except as disclosed in the
fnancial statements. Certain directors also received remuneration from related corporations in their capacity
as directors and/or executives of those related corporations.
5 Options Granted
During the fnancial year, no options to take up unissued shares of the Company or its subsidiaries were granted.
6 Options Exercised
During the fnancial year, there were no shares of the Company or its subsidiaries issued by virtue of the exercise
of options to take up unissued shares.
7 Options Outstanding
At the end of the fnancial year, there were no unissued shares of the Company or its subsidiaries under option.
8 Audit Committee
The Audit Committee (“AC”) comprises Dr Wu Chiaw Ching, Mr Wong Ming Kwong and Mr Raymond Lye Hoong
Yip, the majority of whom, including the Chairman, are independent. The Chairman of the AC is Dr Wu Chiaw
Ching.
The ACcarried out its functions in accordancewith Section 201B(5) of theCompanies Act, Cap. 50. In performing
those functions, the AC:
(a) reviews with the external auditors, the audit plan, the evaluation of the system of internal accounting
controls, the audit report, the assistance given by the Company’s offcers to the external auditors and the
scope and results of the audit procedures;
(b) reviews the annual consolidated fnancial statements of the Group and balance sheet of the Company
before submission to the Board for approval, focusing in particular on changes in accounting policies and
practices, major risk areas, signifcant adjustments resulting from the audit, compliance with accounting
standards and compliance with the Singapore Exchange Securities Trading Limited (“SGX-ST”) ListingManual
Section B: Rules of Catalist (“Catalist Rules”) and any other relevant statutory or regulatory requirements;
(c) reviews the internal control procedures and ensures co-ordination between the external auditors and the
management, reviews the assistance given by the management to the auditors, and discusses problems
and concerns, if any, arising from the interim and fnal audits, and any matters which the auditors may wish
to discuss (in the absence of the management, where necessary);
(d) reviews anddiscusses with the external auditors any suspected fraudor irregularity, or suspected infringement
of any relevant laws, rules or regulations, which has or is likely to have a material impact on the Group’s
operating results or fnancial position, and the management’s response;