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SINGAPORE SHIPPING CORPORATION LIMITED
CORPORATE GOVERNANCE STATEMENT
for financial year ended 31 March 2016
4. COMMUNICATION WITH SHAREHOLDERS
Principle 14: Shareholder Rights
Principle 15: Communication with Shareholders
Principle 16: Conduct of Shareholder Meetings
The Company places great emphasis on regular, effective and open communication with our
Shareholders. The announcements of the Group’s results and material developments are released
through SGXNET to the SGX’s website in a timely manner to ensure fair disclosure of information.
All Shareholders receive the annual report and the notices of general meetings. The notices for such
meetings are also advertised in local newspaper and made available on SGXNET. Shareholders are
given the opportunity to participate effectively and vote at general meetings of the Company, where
relevant rules and procedures governing the meetings are clearly communicated. The chairpersons
of the various Board Committees and the external auditors are invited to be present at the general
meetings, to address queries from Shareholders.
In considering the level of dividend payments, the Board takes into account various factors including
but not limited to:
•
The level of available cash for its working capital;
•
The return on equity and retained earnings; and
•
Projected levels of capital expenditure and other investment plans.
General meetings are held in Singapore. At such meetings, Shareholders are given the opportunity
to air their views and ask the Directors questions regarding the Company. For each substantially
separate issue, the Company adopts separate resolutions instead of “bundling” resolutions unless the
issues are interdependent and linked. All Directors are present at general meetings to address any
questions that Shareholders may have. Minutes of general meetings are prepared accordingly and
made available to Shareholders upon their request. The Company will continue voting by poll for all
resolutions this year.
Interested Person Transactions (“IPTs”)
The Company has established a procedure to ensure that IPTs interested and related parties are
undertaken on an arm’s length basis, on normal commercial terms consistent with the Group’s usual
business practices and policies, on terms which are generally no more favourable to those extended
to unrelated third parties.
