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SINGAPORE SHIPPING CORPORATION LIMITED
Development of the Board
Upon each new director’s appointment, he is briefed by management on his duties and obligations,
and undergoes an orientation to familiarise him with the business activities and structure, strategic
direction, policies, and corporate governance practices of the Group. The orientation further serves to
allow new directors to get acquainted with fellow directors, senior management and the Group.
Directors are continually and regularly updated on the Group’s businesses, the business environment
that the Group operates in, and any relevant legislative and regulatory changes applicable to the
Group and its businesses.
Principle 2: Board Composition and Guidance
At the annual general meeting (“AGM”) of the Company held on 30 July 2015, Jones Christopher
Adrian retired and did not offer himself for re-election as a Director. In his place, Stanley Lai Tze Chang
was appointed by the Board as an Independent and Non-Executive Director. With Stanley Lai Tze
Chang’s appointment, the number of Independent and Non-Executive Directors remains unchanged
keeping with the recommendations of the 2012 Code. With the appointment of Stanley Lai Tze Chang,
the Board as at 31 March 2016 consists of six members, three of whom are Independent and Non-
Executive Directors. There is a strong and independent element on the Board which is in the NC’s
view fundamental to good corporate governance, and no individual or group dominates the Board’s
decision-making process.
The names of the current Directors and their executive and independence status for FY2016 are set
out below:
Executive Directors
Ow Chio Kiat
(Executive Chairman and Executive Director)
Ow Cheo Guan
(Deputy Executive Chairman and Executive Director)
Ow Yew Heng
(Executive Director and Chief Executive Officer)
CORPORATE GOVERNANCE STATEMENT
for financial year ended 31 March 2016
