SEO Version
FORTERRA
ANNUAL REPORT 2013
CORPORATE GOVERNANCE
REPORT
37
A: number of meetings attended by each person while he was a director
B: number of meetings held during the period when the person was a director
*
Mr. Chung and Mr. Cheung were appointed directors on 28 August 2013.
#
Mr. Seah and Mr. Tang were appointed directors on 22 November 2013.
** Mr. Cheng, Mr. Lee and Mr. Lim were appointed directors on 10 October 2013.
^
Mr. Barrett and Mr. Williams resigned on 28 August 2013.
^^ Mr. Sugden, Mr. David and Mr. Xu resigned on 10 October 2013.
None of the directors appointed an alternate director to act on their behalf during the FY 2013.
The Board has also adopted a documented schedule of matters reserved for the Board’s decision.
Examples of such matters include decisions relating to:
•
the overall investment management of Forterra;
•
the long- term objectives and commercial strategy of Forterra;
•
Forterra’s capital structure and any changes thereto; and
•
all resolutions and corresponding documentation to be put forward to Unitholders.
The Trustee-Manager issues letters to newly appointed directors. The letters set out the duties and
obligations of the directors to the Trustee-Manager and Forterra. In addition, all new directors receive
briefings on the legal and regulatory aspects regarding business trusts from Forterra’s legal advisors,
and briefings on corporate governance from Forterra’s auditors and/or legal advisors.
The Trustee-Manager recognises the value of providing its directors with continuous and relevant
training and development, to enable them to stay abreast of relevant changes in the industry, and with
applicable laws and regulations. The Board is updated on any change to relevant laws, regulations
and accounting standards by way of briefings by professionals or by updates issued by the company
secretary or Management. The directors are also informed by the company secretary of the availability
of appropriate courses which they may attend to update their knowledge, at the expense of the
Trustee-Manager. Similarly, directors can also inform the company secretary of any relevant courses
that they may wish to attend, whether in Singapore or overseas. These induction and training activities
have been adopted by the Board as the Directors’ Training Policy and are formally documented.
Principle 2: Board Composition and Guidance
The Trustee-Manager believes that an effective Board is one constituted with the right core
competencies and diversity of experiences.
The Board comprises nine (9) directors. Please refer to the section on ‘Trustee-Manager’s Board of
Directors’ in the Annual Report for key information on each director.
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