Singapore Airlines 2003 Annual Report Download - page 40

SIA Annual Report 02/0338
Only the remuneration of the top three key non-director executives are shown above because as at 31 March 2003,
there were 15 senior executives who received remuneration from the Company that held the equal rank of Senior
Vice-President (SVP). Details of these three key executives can be found in 9.5 below.
9.5 Michael Tan Jiak Ngee
Mr Tan joined SIA’s predecessor Malayan Airways in 1960 and in his early years held a variety of management positions
in regional offices throughout Asia. In 1975, he was appointed SIA’s Assistant Director of Marketing at Head Office and
thereafter held a number of senior positions in the commercial area. He became Senior Executive Vice-President
(Commercial) in 2001. Concurrently, he is Chairman of Singapore Airlines Cargo Pte Ltd, and is also a Director of
Singapore Airport Terminal Services Limited (SATS) and Virgin Atlantic Airways.
Bey Soo Khiang
Prior to joining SIA in 2000, Lt-Gen (NS) Bey was Chief of Air Force from 1992 to 1995 and Chief of Defence Force in
the Ministry of Defence from 1995 to 2000. With SIA, he was appointed to his present position of Senior Executive
Vice-President (Technical and Human Resources) in April 2002 and is concurrently Chairman of three SIA subsidiaries:
SilkAir (Singapore) Private Limited, SATS Airport Services Pte Ltd, and the Singapore Flying College Pte Ltd. He is also a
Director of SIA Engineering Company Limited. He holds a Masters Degree (First Class Honours) in Engineering from
Cambridge University and a Master of Public Administration from Harvard University.
Huang Cheng Eng
Mr Huang joined SIA in 1974 and served in regional offices in Hong Kong, Taiwan and France. In 1987, he returned
to Singapore and managed SIA’s cargo business worldwide, later becoming Director of Cargo (1992) and Director of
Marketing Planning (1996). He was appointed to his present position of Executive Vice-President (Marketing and the
Regions) in 2001, and is concurrently Chairman of SATS Catering Pte Ltd and a Director of Singapore Tourism Board.
He holds a Bachelor of Business Administration degree from the University of Hawaii and an MBA from Michigan
State University.
10. INTERNAL CONTROLS
10.1 It is the opinion of the Board that, in the absence of evidence to the contrary, the system of internal controls maintained
by the Company’s Management and that was in place throughout the financial year and up to the date of this report
provides reasonable, but not absolute, assurance against material financial misstatements or losses, and includes the
safeguarding of assets, the maintenance of proper accounting records, the reliability of financial information, compliance
with appropriate legislation, regulations and best practices, and the identification and containment of financial, operational
and compliance risks. The Board notes that all internal control systems contain inherent limitations and no system of
internal controls could provide absolute assurance against the occurrence of material errors, poor judgment in decision-
making, human error, losses, fraud or other irregularities.
11. INTERNAL AUDIT
11.1 The Internal Audit Department is an independent function within the Company, which reports to the Audit and Risk
Committee directly. The mission of the Internal Audit Department is to provide independent, objective assurance and
consulting services designed to add value and improve the Group’s operations. It helps the Group accomplish its objectives
by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control
and governance processes.