BOARD COMPOSITION AND GUIDANCE
Principle 2: There should be a strong and independent element on the Board, which is able to exercise objective
judgement on corporate affairs independently, in particular, from management and 10% shareholders. No
individual or small group of individuals should be allowed to dominate the Board’s decision making.
The Board presently consists of eight members, seven of whom are non-executive directors (including three independent
directors). The Chairman of the Board is Mr. Lim Kok Hoong. None of the directors has entered into any service contract
directly with PLife REIT.
Current Director’s Appointment and Membership on Board Committees
Director
Board
membership
Audit
Committee
Nominating and
Remuneration
Committee*
Mr. Lim Kok Hoong
Chairman and Independent Director
Member
–
Mr. Puah Tuan Soon Benson
Independent Director
Member
Chairman
Mr. Tan Bong Lin
Independent Director
Chairman
Member
Dr. Tan See Leng
Non-Executive Director
–
Member
Mr. Ahmad Shahizam Bin Mohd Shariff Non-Executive Director
–
–
Mr. Tan See Haw
Non-Executive Director
–
–
Dr. Lim Suet Wun
Non-Executive Director
–
–
Mr. Yong Yean Chau
Executive Director
–
–
*
Renamed as Nominating and Remuneration Committee with effect from 27 January 2015
The composition of the Board is determined using the following principles:
1.
the Chairman of the Board and Chief Executive Officer should in principle be separate persons;
2.
the Board should comprise directors with a broad range of expertise and commercial experience (including
expertise in funds management and the property industry), and knowledge of PLife REIT; and
3.
at least one-third of the Board should comprise independent directors.
Independent Directors
The Board has three independent directors, namely Mr. Lim Kok Hoong, Mr. Puah Tuan Soon Benson and Mr. Tan Bong
Lin. The criterion of independence is based on the definition given in the Code of Corporate Governance 2012. The Board
considers an “independent” director is one who has no relationship with the Manager, its related corporations, its 10%
shareholders or its officers or Unitholders of PLife REIT who have an interest of 10% or more in the Units of PLife REIT that
could interfere, or be reasonably perceived to interfere, with the exercise of the director’s independent business judgment
with a view to the best interest of the Manager and PLife REIT.
The Board considers Mr. Lim Kok Hoong, Mr. Puah Tuan Soon Benson and Mr. Tan Bong Lin to be independent.
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PA R K WAY L I F E R E I T
CORPORATE
GOVERNANCE
