49
2015/2016 ANNUAL REPORT
CORPORATE GOVERNANCE STATEMENT
for financial year ended 31 March 2016
The Company maintains a register of all transactions carried out by the Group with interested persons.
On a quarterly basis, the ARMC reviews all recorded IPTs entered into by the Group, and the basis of
such transactions. The ARMC reviews the IPT as part of its standard procedures while examining the
adequacy of the Group’s internal controls.
Details of significant interested person transactions for FY2016 (“
FY2016 IPTs
”) are set out below:
Name of interested person
Aggregate value of all
IPTs during FY2016
(excluding transactions
less than S$100,000 and
transactions conducted
under shareholders’ mandate
pursuant to Rule 920)
Aggregate value of
all IPTs conducted
during FY2016 under
shareholders’ mandate
pursuant to Rule 920
(excluding transactions
less than S$100,000)
Paid to related parties:
- Rental Expense
- Services Rendered
US$369,000
US$356,000
–
–
Transaction with Directors of the
Company:
- Purchase of goods and services
US$132,000
–
The FY2016 IPTs are undertaken on an arm’s length basis and 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.
Material Contracts
There were no other material contracts or loans entered into by the Company and its subsidiaries
involving the interests of the CEO, Directors or controlling Shareholder, which are either subsisting
at the end of the financial year or, if not then subsisting, entered into since the end of the previous
financial year.
