57
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2016
2015/2016 ANNUAL REPORT
AUDIT AND RISK MANAGEMENT COMMITTEE (“ARMC”)
The members of the ARMC during the financial year and at the date of this statement are:
Tan Guong Ching
(Chairman)
Ng Jui Ping
Stanley Lai Tze Chang
All members of the ARMC are non-executive and independent directors.
The ARMC held five meetings since the last directors’ report. In performing its functions, the ARMC met
with the Company’s external and internal auditors to discuss the scope of their work, the results of their
examination and evaluation of the Company’s internal accounting control system.
The ARMC carried out its functions in accordance with Section 201B of the Act and the SGX Listing Manual,
and is guided by the Code of Corporate Governance. The ARMC’s functions include (but not limited to)
reviewing the following:
•
assistance provided by the Company’s officers to the internal and external auditors;
•
quarterly financial information and annual financial statements of the Group and the Company prior
to their submission to the directors of the Company for adoption;
•
interested person transactions (as defined in Chapter 9 of the SGX Listing Manual); and
•
the amount of audit and non-audit fees paid to the external auditors of the Company.
The ARMC has full access to management and is given the resources required for it to discharge its
functions. It has full authority and the discretion to invite any director or executive officer to attend its
meetings. For good corporate governance, the ARMC also recommended the proposed appointment of
Ernst & Young LLP as the new external auditors of the Company for the financial year ending 31 March
2017.
On behalf of the Board of Directors
Ow Chio Kiat
Ow Yew Heng
Director
Director
Singapore
14 June 2016
DIRECTORS’
TEMENT
for the fi ancial year ended 31 March 1
