The members of the Nominating and Remuneration Committee do not participate in any decisions concerning their
own remuneration.
The Nominating and Remuneration Committee shall ensure that non-executive directors should not be over-compensated
to the extent that their independence may be compromised. Further, the Nominating and Remuneration Committee
shall have the authority to consult experts (inside and/or outside the Manager) on the remuneration of all directors, if
considered necessary.
ACCOUNTABILITY AND AUDIT
Accountability
Principle 10: The Board should present a balanced and understandable assessment of the company’s performance,
position and prospects.
The Board continually strives to present a clear, balanced and understandable assessment of PLife REIT’s financial position,
performance and prospects primarily through the audited financial statements, annual report and quarterly announcements
of results to the Unitholders through announcements via SGXNet, press releases, the PLife REIT’s website and media and
analyst briefings.
The management also provides the Board with complete and adequate information in a timely manner and on an on-going
basis through regular updates on financial results, market trends and business developments.
RISK MANAGEMENT AND INTERNAL CONTROLS
Principle 11: The Board is responsible for the governance of risk. The Board should ensure that management maintains
a sound system of risk management and internal controls to safeguard shareholders’ interests and the
company’s assets, and should determine the nature and extent of the significant risks which the Board is
willing to take in achieving its strategic objectives.
The Board acknowledges that it is responsible for the overall internal control framework and the maintenance of a sound
system of internal controls. The system includes, inter alia, enterprise risk management and internal auditing. However,
the Board recognises that no cost effective internal control system and risk management will preclude all errors and
irregularities, as a system is designed to manage rather than eliminate the risk of failure to achieve business objectives,
and can provide only reasonable and not absolute assurance against material misstatement or loss.
To ensure that a robust risk management system is maintained, the Manager, with concurrence of the Audit Committee,
has an Enterprise Risk Management (“
ERM
”) framework and policies in place and ERM Committee which comprises senior
management personnel of the Manager from the operational, financial and technical areas, to identifying and managing the
risks that could arise in the course of managing PLife REIT. The responsibilities of the ERM Committee include the oversight
of matters relating to the management of risks. The Manager has engaged an external risk consultant to facilitate the ERM
process and to validate the sufficiency and adequacy of the internal controls put in place. Any material non-compliance
and internal control weakness, together with the recommendations to address them, the mitigating controls or gaps (if
any) are also presented to the Audit Committee and the Board accordingly.
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