47
Ascott Residence Trust
Annual Report 2015
Overview
Sustainability
Business
Review
Portfolio
Details
Corporate
Governance &
Transparency
Financials &
Additional
Information
The Manager has developed and implemented a policy on the prevention of money laundering and terrorist
financing and is alert at all times to suspicious transactions. Where there is a suspicion of money laundering
or terrorist financing, the Manager performs due diligence checks on its counterparties in order to ensure
that it does not enter into business transactions with terrorist suspects or other high risk persons or entities.
Suspicious transactions are also reported to the Suspicious Transaction Reporting Office of the Commercial
Affairs Department.
Under this policy, the Manager must retain all relevant records or documents relating to business relations with
its customers or transactions entered into for a period of at least five years following the termination of such
business relations or the completion of such transactions.
All prospective employees, officers and representatives of the Manager are also screened against various lists
of terrorist suspects issued by MAS. Periodic training is provided by the Manager to its Directors, employees
and representatives to ensure that they are updated and aware of applicable anti-money laundering and terrorist
financing regulations, the prevailing techniques and trends in money laundering and terrorist financing and the
measures adopted by the Manager to combat money laundering and terrorist financing.
Composition and Attendance Record of Meetings of the Board and Board Committees
Board Members
Composition
Attendance Record of
Meetings in FY 2015
Audit
Committee
Corporate
Disclosure
Committee
Executive
Committee
Board
Audit
Committee
Number of
Meetings
Held: 6
Number of
Meetings
Held: 5
Lim Jit Poh, Chairman
–
Chairman
–
6 out of 6
N.A.
Lim Ming Yan, Deputy Chairman
–
–
Chairman
6 out of 6
N.A.
Tay Boon Hwee, Ronald, CEO
–
Member
Member
6 out of 6
N.A.
Ku Moon Lun
Chairman
–
–
6 out of 6
5 out of 5
Lee Chee Koon
–
Member
Member
6 out of 6
N.A.
Tan Beng Hai, Bob
1
Member
1
–
–
4 out of 4
3 out of 3
Zulkifli Bin Baharudin
Member
2
Member
2
–
6 out of 6
3 out of 3
S. Chandra Das
Member
3
–
–
1 out of 2
1 out of 2
Giam Chin Toon @ Jeremy Giam
Member
3
–
–
2 out of 2
2 out of 2
N.A.: Not Applicable
1
Mr Tan Beng Hai, Bob was appointed as non-executive independent Director and a member of AC with effect from 24 April 2015.
2
Mr Zulkifli Bin Baharudin was appointed as a member of AC and ceased to be a member of CDC with effect from 24 April 2015.
3
Mr S. Chandra Das and Mr Giam Chin Toon @ Jeremy Giam resigned as Directors and ceased to be members of AC with effect from 24 April 2015.
