Singapore Airlines 2002 Annual Report Download - page 31

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SIA Annual Report 01/02 31
4.3 The Committee has full access to and
co-operation of the Company's
management. The Committee has full
discretion to invite any director or
executive officer to attend the meetings,
and has been given reasonable
resources to enable it to discharge its
functions.
4.4 In the opinion of the directors, the
Company complies with the Best
Practices Guide of The Singapore
Exchange Securities Trading Limited
(SGX) on Audit Committees.
5. Board Finance Committee
5.1 This Committee was formed on 11
August 2000. The Committee meets
quarterly and sets directions, policies
and guidelines pertaining to certain
financial matters of the Company. The
Committee also acts as the approving
body for new initiatives or projects under
its terms of reference, viz
i) management of surplus funds;
ii) liquidity and financing management; and
iii) financial risk management.
5.2 The Board Finance Committee
comprises:
Chairman
Fock Siew Wah
Members
Cheong Choong Kong
Charles B Goode
Davinder Singh
6. Board Senior Officers' Committee
6.1 Terms of Reference
The Committee will in respect of:
a) Compensation and Benefits
i) decide on remuneration packages
needed to retain and motivate Senior
Officers of the quality required;
ii) conduct annual reviews of the
remuneration packages of Senior
Officers taking into consideration the
recommendations of the Chief
Executive Officer;
b) Employee Share Option Plan
i) grant options to staff in accordance
with the Plan, and issue shares as may
be required on the exercise of the
options;
ii) make changes to the Plan if necessary,
provided such changes are in accordance
with the provisions of the Plan;
c) Executive Recruitment and Selection
i) ensure that a sufficient number of
suitable candidates are recruited and/or
promoted to leadership positions;
d) Leadership Development and Top
Management Succession
i) monitor the programme of leadership
development for the pool of identified
talent through courses, job rotation
and assignments to equip and prepare
them for critical key appointments in
future;
e) Management Relationship with the
Subsidiaries and Equity Partners
i) ensure that talent is tapped and
equitably distributed throughout the
subsidiaries and associated companies
in the Group; and
ii) encourage closer working relationship
and management exchanges in the
subsidiaries and associated companies
in the Group.
6.2 The Board Senior Officers' Committee
comprises:
Chairman
Koh Boon Hwee
Members
Cheong Choong Kong
Fock Siew Wah
Lim Chee Onn
7. Nominating Committee
7.1 The Nominating Committee was
formed on 14 July 2001. Its main
functions are:
a) to evaluate and make recommendations
to the Board concerning the appointment
and re-appointment of Directors; and
b) to determine whether or not a Director
is independent.
7.2 The Nominating Committee comprises:
Chairman
Davinder Singh
Members
Edmund Cheng Wai Wing
Charles B Goode
8. Securities Transactions
8.1 The Company has clear policies on
trading of its shares by Board Directors
and employees which are in conformity
with the guidelines of the SGX.