IREIT Global
annual report 2014
Corporate
Governance Report
The Board is represented by members with a breadth
of expertise in finance and accounting, real estate and
business management. It comprises six members,
of whom three are Independent Non-Executive
Directors. The Chief Executive Officer (“CEO”) is the
only Executive Director on the Board.
The Board members as at the date of this Annual
Report are as follows; the profiles of the directors are
found on pages 10 to 14:
Board Members
Designation
Mr Lim Kok Min, John Chairman and
Independent
Non-Executive Director
Mr Tan Wee Peng Kelvin Chairman of the Audit
and Risk Committee
and Independent Non-
Executive Director
Mr Nir Ellenbogen
Independent
Non-Executive Director
Mr Tong Jinquan
Non-Executive Director
Mr Ho Toon Bah*
Non-Executive Director
Mr Itzhak Sella
Chief Executive Officer
and Executive Director
*
Appointed with effect from 17 February 2015
The Board believes that the current board size,
composition and balance between executive, non-
executive and independent non-executive director
is adequate and provides sufficient diversity without
interfering with efficient and effective decision-
making. It allows for a balanced exchange of views,
robust deliberations and debate among members
and effective oversight over management, ensuring
no individual or small group dominates the Board’s
decisions or its process.
The Board is of the view that the background, skills,
experience and core competencies of its members
provide an appropriate mix of expertise, experience
and skills needed in the strategic direction and
planning of the business of IREIT.
The composition of the Board will be reviewed
periodically to ensure that the board size is
appropriate and comprises directors with an
appropriate mix of expertise, skills, experience and
diversity to discharge their duties and responsibilities.
The Board also reviews periodically and at least
annually the independence of its directors based on
guidelines set out under the Code. In respect of the
financial period ended 31 December 2014, the Board
is of the view that its independent non-executive
directors are considered independent.
To enable the Board to be able to properly discharge
its duties and responsibilities, the Board is provided
with regular updates on developments and changes
in the operating environment, including revisions
to accounting standards, and laws and regulations
affecting IREIT and/or the Manager. The Board
participates regularly in industry conferences,
seminars and training programmes in connection
with its duties.
Newly appointed directors are given induction
training and are provided with comprehensive
information and constitutional documents on
IREIT and the Manager, contact information of each
Board member, management staff and the company
secretary. The training covers business activities
of IREIT, its strategic directions and policies, the
regulatory environment in which IREIT and the
Manager operate, and the Manager’s corporate
governance practices, and statutory and other duties
and responsibilities as directors. Where a director has
no prior experience as a director of a listed company,
further training in areas such as accounting, legal and
industry specific knowledge is provided.
All directors are currently appointed for an initial
period of three years and may be re-elected at the
discretion of the Board. The letter of appointment
