32 | CITY DEVELOPMENTS LIMITED City Developments Limited (“CDL” or the “Company”) is committed to upholding a high standard of corporate governance and business integrity which is essential for the long-term sustainability of the Group’s businesses and the enhancement of shareholders’ value. In compliance with Listing Rule 710 of the Listing Manual of Singapore Exchange Securities Trading Limited (“SGX-ST”) (“Listing Manual”), the Company describes in this report its corporate governance practices, with specific reference to the Our Governance Framework Board of Directors ("Board") Executive Directors (“ED”) Kwek Leng Beng, Executive Chairman Sherman Kwek Eik Tse (Sherman Kwek), Group Chief Executive Officer Independent Directors (“ID”) Lee Jee Cheng Philip (Philip Lee), Lead ID Ong Lian Jin Colin (Colin Ong) Daniel Marie Ghislain Desbaillets (Daniel Desbaillets) Chong Yoon Chou Chan Swee Liang Carolina (Carol Fong) Tang Ai Ai Mrs Wong Ai Ai (Wong Ai Ai) Young Jennifer Duong (Jennifer Young) Wong Su Yen Key Objectives: Provides leadership by setting the strategic objectives of the Company together with the Management Executive Committee (“ExCo”) to achieve long-term success for the Company and its subsidiaries (the ‘‘Group’’) through value creation, innovation and sustainability. Oversees the performance of the Group for accountability to shareholders by ensuring that the necessary financial, operational and human resources are in place for the Company to meet its strategic objectives, which are supported by an adequate and effective system of internal controls and risk management. principles and provisions in the Code of Corporate Governance 2018, as amended (“CG Code”). Where the Company’s practices differ from the provisions of the CG Code, the Company’s position and the reasons therefor are explained in this report. CORPORATE GOVERNANCE
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