The Managers have a formal policy on corporate disclosure controls and procedures to ensure that CLAS complies with its disclosure obligations under the Listing Manual. These controls and procedures incorporate the decision-making process and an obligation on internal reporting of the decisions made. Investor Relations The Managers have an Investor Relations department which facilitates effective communication with Stapled Securityholders and analysts. The Managers also have a corporate communications function supported by CLI’s Group Communications department which works closely with the media and oversees CLAS’ media communications efforts. The Managers actively engage with Stapled Securityholders to solicit and understand their views, and have an Investor Relations Policy (IR Policy) to promote regular, effective and fair communications with Stapled Securityholders. The IR Policy, which sets out the mechanism through which Stapled Securityholders may contact the Managers with questions and through which the Managers may respond to such questions, is available on the Website. The Website, which is maintained by the Managers, also contains other information on CLAS, including its prospectus, circulars, announcements and news releases, financial statements and investor presentations. Managing Stakeholder Relationships The Boards’ role includes considering sustainability as part of their strategic formulation. The Managers adopt an inclusive approach for CLAS by considering and balancing the needs and interests of material stakeholders. The Managers are committed to sustainability and incorporate the key principles of environmental and social responsibility, and corporate governance in CLAS’ business strategies and operations. The Managers have arrangements to identify, engage and manage relationships with material stakeholder groups from time to time, and gather feedback on the sustainability issues most important to them. The Managers also update the Website with current information on its sustainability approach and stakeholder engagements, to facilitate communication and engagement with CLAS’ stakeholders. The rights of CLAS’ creditors, which comprises of lending banks, are protected with well-spread debt maturity, healthy interest coverage ratio and gearing ratio below the regulated limits. Regular internal reviews are also conducted to ensure that various capital management metrics remain compliant with loan covenants. More details of CLAS’ stakeholder engagements can be found in CLAS’ Sustainability Report 2024 which will be published in May 2025. ADDITIONAL INFORMATION Executive Committee The Boards have also established an EC, which oversees the day-to-day activities of the Managers and CLAS. The EC is guided by its terms of reference, in particular, the EC: (a) approves specific budgets for capital expenditure on development projects, acquisitions and enhancements/upgrading of properties within its approved financial limits; (b) reviews management reports and operating budgets; and (c) awards contracts for development projects. The members of the EC also meet informally during the year. Dealings with Interested Persons Review Procedures for Interested Person Transactions The Managers have internal control procedures to ensure that all Interested Person Transactions are in compliance with Chapter 9 of the Listing Manual and the Property Funds Appendix. The Managers would have to demonstrate to the ARC that such transactions are undertaken at arm’s length, on normal commercial terms and are not prejudicial to the CLAS’ and Stapled Securityholders’ interests, which may include obtaining (where practicable) third party quotations or valuations from independent valuers (in accordance with the Listing Manual and Property Funds Appendix). 87 Annual Report 2024
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