NTUC Income AR 2019

CORPORATE GOVERNANCE Board Meetings and Attendance The Board conducts five scheduled meetings a year and additional meetings are held when deemed necessary. At these meetings, the Board reviews the Co-operative’s financial performance, corporate strategy, business plan, strategic operational issues as well as major issues and challenges that the Co-operative may face in the future. A Board retreat is also held each year for management to engage the Board on a strategic review of the Co-operative’s key plans and initiatives for the following year. During the course of the year, Board approvals were also obtained through resolutions approved by circulation. The directors attend the Annual General Meeting (AGM), Board meetings and meetings of the Board Committees on which they serve. Meeting papers, reports and information necessary for the understanding of the matters to be reviewed during the meetings are disseminated in a timely manner, in advance of meetings. Directors’ Attendance at Board and Board Committee Meetings in 2019 Name of Director Board Audit Committee (AC) Investment Committee (IC) No. of meetings Held @ Attended No. of meetings Held @ Attended No. of meetings Held @ Attended Ronald Ong 6 6 – – – – Kee Teck Koon 6 6 – – 4 3 Sung Cheng Chih 6 6 – – 2 2 Richard Shermon 6 6 5 5 – – Choong Tuck Oon 6 5 – – 4 3 Pang Wai Yin 6 6 5 5 – – Joy Tan 6 6 – – – – Sim Hwee Hoon 6 6 5 5 – – Sim Hwee Cher 6 6 5 5 – – Neo Chin (1) 4 4 – – 3 3 Vincent Lien (2) 2 2 – – 1 1 Heng Chee How (3) 1 1 – – – – Lau Wing Tat (4) 3 3 – – 2 2 Name of Director Risk Management Committee (RMC) Nominating Committee (NC)# Human Resource & Remuneration Committee (HRRC) No. of meetings Held @ Attended No. of meetings Held @ Attended No. of meetings Held @ Attended Ronald Ong – – – – – – Kee Teck Koon – – 4 4 4 4 Sung Cheng Chih 2 0 4 3 4 3 Richard Shermon 4 4 – – – – Choong Tuck Oon 4 3 – – – – Pang Wai Yin 4 4 – – – – Joy Tan 4 4 4 4 4 4 Sim Hwee Hoon – – 4 4 4 4 Sim Hwee Cher 4 4 – – – – Neo Chin (1) – – – – – – Vincent Lien (2) – – – – – – Heng Chee How (3) – – – – – – Lau Wing Tat (4) – – 2 1 2 1 @ Number of meetings held during the period the director was a member of the Board and/or Board Committee # Additional approvals from NC were obtained via circulation (1) Co-opted to the Board on 15 April 2019 (2) Co-opted to the Board on 3 October 2019 (3) Stepped down from the Board on 19 March 2019 (4) Retired from the Board on 24 May 2019 20 HERE FOR SURE