Singapore Airlines 2011 Annual Report Download - page 47
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ANNUAL REPORT 2010/2011 045
The Company was recognised as the “Most Transparent Company – Transport/Storage/Communication
Category” by the Securities Investors Association of Singapore (“SIAS”) in 2010 for the ninth time since the
inception of the SIAS Investors’ Choice Award in 2000. The Company was also the winner of the Golden Circle
Award (an open category award for overall recognition of transparency excellence across all sectors) for the
second consecutive year in 2010. In addition, the Company won two awards in the IR Magazine South East
Asia Awards 2010: for Singapore and Pan Asia, the best investor relations by a chief executive officer.
The Board members always endeavour to attend shareholder meetings where shareholders are given the
opportunity to raise questions and clarify issues they may have relating to the resolutions to be passed, with
the Board. The Chairmen of the various Board Committees or members of the Board Committees standing
in for them, as well as the external auditors, would be present and available to address questions at these
meetings. Minutes of shareholders’ meetings are available on request by registered shareholders.
To enhance transparency in the voting process, the Company had, since 2009, implemented full poll voting
for all the resolutions tabled at its shareholders’ meetings.
Banking Transaction Procedures
Lenders to SIA are to note that all bank transactions undertaken by any Group Company must be properly
authorised, including the opening of new bank accounts and any proposed credit facilities. Each Group
Company has its own approval limits and procedures for every banking transaction, having regard to the
nature of the transaction concerned. These approval limits and procedures are updated from time to time and
are available on request. The bankers of each Group Company should always verify, in accordance with the
verification process set out in the applicable procedures, that the transaction is properly authorised.