Singapore Airlines 2013 Annual Report Download - page 50

048
SINGAPORE AIRLINES
CORPORATE GOVERNANCE REPORT
For FY2012-13 the aggregate total remuneration paid to the Relevant Key Management Personnel (who are not Directors or
the CEO) amounted to $2,721,391.
For FY2012-13, there were no termination, retirement or post-employment benefits granted to Directors, the CEO and Relevant
Key Management Personnel other than the standard contractual notice period termination payment in lieu of service, and the
post-retirement travel benefits for the CEO and Relevant Key Management Personnel.
Accountability (Principle 10)
The Board, through its announcements of quarterly and full-year results, aims to provide shareholders with a balanced and
understandable assessment of the Company’s performance and prospects. Management provides the Board with monthly
management accounts for the Board’s review.
The Company has clear policies and guidelines for dealings in securities by Directors and employees. The Company imposes
a trading embargo on its Directors and employees from trading in its securities for the period of two weeks prior to the
announcement of quarterly results; and a period of one month prior to the announcement of year-end results. In addition,
Directors and employees are cautioned to observe the insider trading laws at all times.
Board Audit Committee Activities (Principle 11)
The AC’s activities for FY2012-13, in accordance with its responsibilities and duties under its Charter, included the following:
(a) Financial Reporting
The AC reviewed the quarterly and annual financial statements and financial announcements required by the Singapore
Exchange Securities Trading Limited (“SGX-ST”) for recommendation to the Board for approval. The review focused on
changes in accounting policies and practices, major judgemental and risk areas, significant adjustments resulting from
the audit, the going concern assumption, compliance with accounting standards, compliance with SGX-ST and other legal
requirements. The AC keeps itself apprised of changes in accounting policies and guidelines through scheduled regular
updates by the external auditor, of such, in meeting agendas.
There were no employees who were immediate family members of a Director or the CEO, and whose remuneration exceeded
$50,000, during FY2012-13.
Fee Salary Bonuses1 Shares2 Benefits3 Total
Relevant Key Management Personnel4 % % % % % %
Between $1,250,000 to $1,500,000
Mak Swee Wah - 42 19 33 6 100
Ng Chin Hwee - 42 19 33 6 100
1 Includes EVA-based incentive plan (EBIP) payment, Profit-Sharing Bonus and Strategic Incentive Plan.
The amount paid in the reporting year is a percentage of the individual’s EVA Bank. See above for additional information on the EBIP.
2 Based on the Fair Values of RSP ($9.36) and PSP ($9.35) granted in FY2012-13.
3 Includes value of transport and travel benefits provided to employees.
4 The above table reflects the remuneration of the employees who hold the rank of Executive Vice President and above, who are the Relevant Key
Management Personnel of the Company.