Board Performance. 4.1.1 The Authority must annually review and report to the Participants on the performance of the Board of the Authority.
Board Performance. 13. The Committee shall conduct an annual evaluation of the Board to determine whether it is functioning effectively and meeting its objectives and goals. The Committee shall solicit comments from all directors, the Company’s senior executives and any other persons it deems appropriate and shall report its conclusions and recommendations for maximizing the Board’s effectiveness to the Board.
Board Performance. Principle 5: Formal annual assessment of the effectiveness of the Board as a whole and its committee and the contribution by each Director to the effectiveness of the Board The REIT Manager has in place a process to evaluate the effectiveness of the Board as a whole and the contribution by each Director. The review allows each Director to individually express his personal and confidential assessment of the Board’s overall effectiveness in discharging its duties and responsibilities. It provides insights into the functioning of the Board, whilst identifying areas that need strengthening or improvement. The evaluation of the Board’s performance include board composition, access to information, board process, risk management, strategy and planning, board accountability and engagement with CEO and Management. Each Director is required to complete a Board & Committee Evaluation Questionnaire and an Individual Director Assessment Questionnaire. The questionnaire is on a no-name basis and the submissions are kept confidential by the Company Secretaries of the REIT Manager, Xx Xxx Xxx Xxxxxx and Ms Xxx Xxx Xxx (the “Company Corporate GOVERNANCE Secretary”). From the responses, a consolidated report is prepared and presented to the Board. The REIT Manager board reviews the responses and feedback, and discusses changes that should be made to help the Board discharge its duties more effectively. Each Director is given sufficient opportunity to bring to the REIT Manager Board his perspective to enable balanced and well considered decisions to be made. The REIT Manager Board is satisfied that the Board has met its performance objectives for the year under review. ACCESS TO INFORMATION Principle 6: Directors to be provided with complete, adequate and timely Information prior to meetings and on an ongoing basis As a general rule, the REIT Manager Board and Audit Committee papers are required to be sent to the Directors and Audit Committee members at least three business days before the meetings. However, papers containing price sensitive information may be tabled at the meetings themselves or discussed without any papers being distributed. All Board and Audit Committee papers are kept and disseminated via an electronic board portal. Executive officers of Far East Organization, external consultants or advisers who can provide additional insight into the relevant matters at hand may be invited to attend the meetings. The executive officers of Far East Organization will not...
Board Performance. Principle 5: The Board undertakes a formal annual assessment of its effectiveness as a whole, and that of each of its board committees and individual directors. The Board has implemented a formal system of evaluating Board’s performance, which is carried out by the NRC, for assessing the effectiveness of the Board as a whole, and of each Board Committee separately, as well as the contribution by the Chairman and each individual Director through the use of a performance assessment checklist. The Board has not engaged any external facilitator to conduct the performance evaluation of the Board, its Board Committees and each individual Director. Where relevant and when the need arises, the NRC will consider such an engagement. The evaluation of the Board’s performance as a whole deals with matters on Board composition, information, process, accountability, performance benchmark, CEO/KMP, risk management and internal controls and standards of conduct. The Board Committees’ evaluation deals with the efficiency and effectiveness of each Board Committee in assisting the Board. The criteria for the evaluation of individual Directors include, among others, the Directors’ attendance and participation at Board and Board Committees meetings, understanding of business plans and strategies, and ability to articulate thoughts and opinions in a clear and concise manner. Each Director is required to objectively assess his or her personal performance and collectively, the performance of the Board as a whole and its Board Committees. For FY 2019, each Director completed the performance assessment checklists and returned them to the Company Secretary. The Company Secretary has compiled the results of the evaluation and tabled the summary at the NRC meeting for the NRC’s review. The NRC is satisfied that: • All performance objectives for FY 2019 have been met for the Board, Board committees and for each individual Director; and • Each Independent Director has met and continues to meet the requirements of the 2018 Code. Pursuant to the NRC’s review, the Board is satisfied that it has achieved its performance objectives for FY 2019. The Manager believes the Board’s performance is best evidenced and reflected through the REIT’s achievements. FY 2019, the REIT’s gross revenue and net property income ("NPI") grew 13.5% and 10.6% respectively year-on-year. The distribution per unit (“DPU”) for the full year was 3.87 Singapore cents and based on the year-end closing price of S$0.685, ...
Board Performance. 5.1 The Board represents and guarantees that it possesses the legal authority to enter into this Agreement and in consideration of the commitments set forth in ABA, Section 4, Agency Performance, agrees to:
Board Performance. The Boards have implemented formal processes for assessing the effectiveness of the Boards and the Board Committees, the contribution by each individual Director to the effectiveness of the respective Boards. For FY2018, an independent external third-party consultant was appointed to facilitate the process of conducting a Board evaluation survey. The survey is designed to provide an evaluation of current effectiveness of the Boards and to support the Chairman and the Boards to proactively consider what can enhance the readiness of the Boards to address emerging strategic priorities for FHT. As part of the survey, questionnaires were sent by the external consultant to the Directors to obtain feedback, and interviews were conducted to clarify the responses where required. The areas covered in the questionnaires included: (1) Board performance in shaping and adapting FHT’s strategy; (2) Board oversight on FHT’s performance and risk and crisis management; (3) Board composition and structure; (4) Board culture and dynamics, including the Board’s partnership with Management; (5) Board’s role in respect of succession planning for the Board and Management; and (6) the effectiveness of the Board Committees. In addition to the survey, the contributions and performance of each Director would be assessed by the NR Committees as part of their periodic reviews of the composition of the Boards and the various Board Committees. In the process, the findings and recommendations of the consultant which include feedback from Directors would be considered, and the necessary follow up actions would be taken with a view to improving the overall effectiveness of the Boards in fulfilling their role and meeting their responsibilities to the Stapled Securityholders. Based on the NR Committees’ review, the Boards and the various Board Committees operate effectively and each Director is contributing to the overall effectiveness of the Boards.
Board Performance. Board performance will be monitored and reviewed by the Shareholders in accordance with their respective procedures. Rights and Obligations of the Company's Board
Board Performance. There should be a formal annual assessment of the effectiveness of the Board as a whole and its board committees and the contribution by each Director to the effectiveness of the Board The Manager believes the Board’s performance is best evidenced and reflected through BHG Retail REIT’s achievements. For FY 2016, BHG Retail REIT has exceeded the forecast, delivering commendable operational performance. The distribution per unit (“DPU”) for the financial period from 11 December 2015 to 31 December 2016 of 5.45 cents has exceeded the forecast by 2.4%. Similarly, the amount available for distribution to Unitholders was 2.9% higher than the forecast. The net property income in RMB was 4.2% higher compared to the forecast for the corresponding period. The Board’s performance is reviewed once a year by the NRC. Each Director is required to objectively assess his personal performance and collectively, the performance of the Board as a whole. Factors that are assessed include the contributions of each Director, and the standard of conduct of the Board against set performance benchmarks. Pursuant to the NRC’s review, the Board is satisfied that it has achieved its performance objectives for FY 2016. In instances where a Director has multiple representations on other boards, that Director is evaluated to see if they have devoted sufficient time and attention to the affairs of the Manager and discharged their responsibilities adequately. Each Director, having regard to their multiple representations on other boards, confirmed his ability to devote sufficient time and attention to the affairs of the Manager. The Board, having regard to the contributions of each Director, is satisfied that each Director is able to and has adequately carried out his duties as Director. For FY 2016, the number of Board, and ARC and NRC meetings attended by each Director is as follows: Nominating and Audit and Risk Remuneration Board Meetings No. of meetings held: 4 Committee Meetings No. of meetings held: 9 Committee Meetings No. of meetings held: 1 Attended Attended Xx Xxxxxxx Xxx Xxx Xxxxx 4 9 1 Xx Xxx Xxx Xxxx Xxxxx 4 9 1 Xx Xxx Xxxx Xxxx 4 8 1 Xx Xxx Xiaohua 3 – – Xx Xxxxx Xxxx 4 – – Xx Xxxx Ge 4 – – Access To Information In order to fulfil their responsibilities, directors should be provided with complete, adequate and timely information prior to board meetings and on an ongoing basis so as to enable them to make informed decisions to discharge their duties and responsibilities. The...
