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SINGAPORE SHIPPING CORPORATION LIMITED
Whistle-blowing Policy
The Group has in FY2016 reviewed and updated its whistle-blowing policy. The policy provides an
independent feedback channel through which matters of concern regarding improprieties in matters of
financial reporting or other mattersmay be raised by employees and external parties in confidence. Upon
the receipt of any feedback, independent investigations are carried out by a panel which comprises of
one or more of the CEO, Deputy Chief Executive Officer, the General Counsel and Director of Human
Resource, which reports to the ARMC. The salient terms of the policy and the contact details under the
policy may be found on the Company’s website. The policy does not disregard anonymous complaints
and all complaints are investigated in accordance with the terms of the policy.
Adequacy of Internal Controls and Risk Management Systems
The Board has adopted an assurance framework to determine the adequacy and effectiveness of
internal controls which includes, (i) the appointment of the ARMC to assist the Board in overseeing
the internal controls and risk management of the Group; (ii) the appointment of internal and external
auditors; (iii) periodical reports and assurances from relevant senior managers; (iv) the adoption of a
risk management policy; and (v) the adoption of an established ERM framework.
Pursuant to Rule 1207(10) of the Listing Manual of the SGX-ST and Principle 11 of the 2012 Code, the
CEO and the Chief Financial Officer have in connection with the assurance framework each having
given their assurance:
(a) that the financial records have been properly maintained and the financial statements give a true
and fair view of the Company’s operations and finances; and
(b) the system of risk management and internal controls in place within the Company is adequate
and effective in addressing the material risks in the Company in its current business environment,
including material, financial, operational, compliance and information technology risks.
Based on the internal controls established and maintained by the Group, work performed by internal
and external auditors in accordance with agreed audit plans, and reviews performed by management
and various Board Committees with the assistance of external consultants, the implementation of
relevant procedures and policies with the assistance of relevant technology, the Board, with the
concurrence of the ARMC, is of the opinion that the Group’s internal controls are adequate to address
financial, operational and compliance risks, which the Group considers relevant and material to its
operations.
CORPORATE GOVERNANCE STATEMENT
for financial year ended 31 March 2016
