Corporate Governance Report

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Intended Outcome
Stakeholders are able to form an opinion on the overall effectiveness of the board and individual directors.

Practice 5.1
The board should undertake a formal and objective annual evaluation to determine the effectiveness of the board, its committees and each individual director. The board should disclose how the assessment was carried out and its outcome.

For Large Companies, the board engages independent experts periodically to facilitate objective and candid board evaluations.

Application Applied
Explanation on application of the practice The annual evaluation is conducted by Nomination Committee on the effectiveness of the Board as a whole, Board Committees, contribution of each individual Director and independence of Independent Directors as well as the Key Officer of the Company.

Assessment Forms setting out the parameters of assessments were distributed to each member of the Board and Committees for peer assessment/self-assessment in respect of the Board of Directors, individual directors, Board Committees and Key Officer in respect of the financial year 2017.

The Chairman of the Nomination Committee briefed the Board the results of the assessment at the Board meeting held on 20 February 2018.

Explanation for departure  
 
Large companies are required to complete the columns below. Non-large companies are encouraged to complete the columns below.
Measure  
Timeframe    

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