Singapore Airlines 2003 Annual Report Download - page 124

Download and view the complete annual report

Please find page 124 of the 2003 Singapore Airlines annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 128

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128

122 SIA Annual Report 02/03
Explanatory note
1. Ordinary Resolution No. 3 is to appoint Sir Brian Pitman to the Board. Sir Brian, 71, is a distinguished banker. He is
currently a Senior Adviser to Morgan Stanley, one of the largest financial services firms in the world, and formerly
the Group Chief Executive and Chairman of the banking group, Lloyds TSB Group. Sir Brian was President of the
British Bankers’ Association, and President of the Chartered Institute of Bankers. He is currently a director of three
publicly quoted companies in the UK: Carlton Communications Plc, a television company; Tomkins Plc, an
engineering company and the Carphone Warehouse Group Plc, a pan-European mobile communications retailer.
The Nominating Committee, having considered his attributes and qualities, recommends his election.
2. In relation to Ordinary Resolution No. 4, Mr Fock Siew Wah will upon re-election continue to serve as Chairman of
the Board Finance Committee and member of the Board Executive and Board Compensation and Organisation
Committees. Mr Ho Kwon Ping will upon re-election continue to serve as member of the Audit & Risk Committee.
Mr Fock is considered as a non-independent Director. Mr Ho is considered as an independent Director. Please refer
to the sections on Board of Directors and Corporate Governance for further details on Mr Fock and Mr Ho.
3. In relation to Ordinary Resolution No. 5, Mr Chew Choon Seng is the Chief Executive Officer of the Company
and will upon re-election continue to serve as a member of the Board Executive and Board Finance Committees.
Mr Chew is considered as a non-independent Director. Please refer to the section on Board of Directors and
Corporate Governance for further details on Mr Chew.
4. Ordinary Resolution No. 7 is to approve the payment of Directors’ Fees of $571,000 (FY2001/2002: $560,000
inclusive of a waiver of 15% by the Directors) for the year ended 31 March 2003, for services rendered by Directors
on the Board as well as on various Board Committees. All the Directors will waive 50% of their fees for services
rendered on the Board as well as the various Board Committees for the year ended 31 March 2003. Mr Koh Boon
Hwee (in respect of the Board Committees he sits on), Mr Cheong Choong Kong, Mr Chew Choon Seng and
Mr Lim Boon Heng will further waive all their fees entirely. The Directors have agreed to these waivers to underline
the difficult operating conditions the Company is facing.
Notes
1. A member of the Company entitled to attend and vote at the Meeting is entitled to appoint not more than two proxies to attend and
vote instead of him. A proxy need not be a member of the Company.
2. The instrument appointing a proxy or proxies must be deposited at the Company’s registered office at Airline House, 25 Airline Road,
Singapore 819829, not less than 48 hours before the time appointed for the Meeting.