Page 37 - SAR141018_Forterra AR 2013

FORTERRA
ANNUAL REPORT 2013
CORPORATE GOVERNANCE
REPORT
35
INTRODUCTION
Forterra Real Estate Pte. Ltd. (formerly known as Treasury Holdings Real Estate Pte. Ltd.) is the
trustee-manager (the “Trustee-Manager”) of Forterra Trust (“Forterra”). The Board of Directors of the
Trustee-Manager (the “Board”) and Management of the Trustee-Manager are committed to building
and maintaining good corporate governance as they believe it forms the basis from which to enhance
the value of Forterra and to safeguard the interests of the unitholders of Forterra as a whole (the
“Unitholders”).
This report sets out the main corporate governance policies and practices of the Trustee-Manager with
specific reference to the principles in the Code of Corporate Governance 2012 issued by the Monetary
Authority of Singapore (“Code”).
BOARD MATTERS
Principle 1: The Board’s conduct of affairs
The Board has responsibility over the strategic direction and management of Forterra, as well as the
corporate governance of the Trustee-Manager. The key roles of the Board are to:
• Set and guide the corporate strategy and business directions of Forterra.
• Ensure that Management discharges business leadership and demonstrates management skills
with integrity and enterprise.
• Oversee the proper conduct of the Trustee-Manager.
The Board has adopted a Risk Governance and Internal Control Framework Manual to review and
manage risks at the strategic and operational level of Forterra (the “Framework”). Management provides
periodic updates to the Board according to the Framework at the regular Board meetings. The Board
has also adopted a code of conduct that details values and standards for the Trustee-Manager. In their
deliberations of important issues affecting key stakeholders of Forterra, the Board in adopting any
actions, takes into account the key stakeholders’ perception of Forterra. The Board also takes into
account corporate social responsibility and sustainability issues, where appropriate.
The directors of the Board are expected to objectively discharge their duties and responsibilities at all
times in the interest of Forterra and its Unitholders.
The Board has constituted the Audit Committee, the Nominating Committee and the Unit Option
Scheme Committee and information on the activities of these Committees can be found in the
subsequent sections of this Report. Treasury Holdings (Shanghai) Property Management Co., Ltd has
been appointed as the property manager of Forterra (the “Property Manager”).