67 Annual Report 2025 training as prescribed by the SGX-ST on, for example, the roles and responsibilities of a director. The costs of training for all Directors are borne by the Managers. Mr Yeo Chin Fu Ervin, being a first-time director who was appointed on 1 January 2025, has completed the training in the roles and responsibilities of a director of a listed issuer as prescribed by the SGX-ST in FY 2025. Each newly-appointed Director is provided with a letter of appointment and a Director’s Manual (containing a broad range of information relating to Directors’ roles and responsibilities and the Managers’ policies on disclosure of interests in securities, conflicts of interests and securities trading restrictions). All Directors undergo an induction programme which focuses on orientating the Director to CLAS’ business, operations, policies, strategies, and financial and governance practices, and includes visits to CLAS’ properties. Directors are provided with opportunities for continuing education in areas such as director’s duties and responsibilities, laws and regulations, risk management and accounting standards, industry-related matters and sustainability so as to be updated on matters that enhance their performance as Directors or Board Committee members. Directors can also request for training in any other area or recommend specific training development programmes to the Boards2. In FY 2025, the training and professional development programmes for the Directors included seminars and training sessions conducted by experts and senior business leaders on Leadership Perspectives and Essentials for Directors of REIT Managers conducted by REITAS. Board Committees Each Board Committee has clear written terms of reference (setting out their composition, authorities and duties, including reporting back to the Boards) and operates under delegated authority from the Boards with the Boards retaining overall oversight. The decisions and significant matters discussed at Board Committee meetings are reported to the Boards on a periodic basis, and minutes of such meetings are also circulated to all members of the Boards. The composition of the various Board Committees in FY 2025 and as at the date of this Report is set out in the table below. Composition of Board Committees in FY 2025 and as at the date of this Report Board Members Audit and Risk Committee (ARC) Executive Committee (EC)# Nominating and Remuneration Committee (NRC) Lui Chong Chee, Chairman – – C Teo Joo Ling, Serena, CEO – M – Sim Juat Quee Michael Gabriel1 C – – Max Loh Khum Whai2 C – – Chia Kim Huat M – M Deborah Lee Siew Yin M – M Beh Siew Kim – C – Yeo Chin Fu Ervin – M – Denotes: C – Chairman; M – Member; CEO – Chief Executive Officer # Given the nature and scope of the work of the EC, their business was discussed/transacted primarily through conference call, correspondence and informal meetings. 1 Mr Sim Juat Quee Michael Gabriel stepped down as Non-Executive Independent Director with effect from 31 August 2025 and relinquished his role as Chairman of the ARC on the same day. 2 Mr Max Loh Khum Whai, an existing member of the ARC, was appointed as Chairman of the ARC with effect from 1 September 2025. 2 The Boards consider all Board members’ views and feedback in recommending training and professional development programmes for the Boards and the Directors. Hence, any Director may recommend specific training and development programmes which he/ she believes would benefit the Directors or the Boards. The review of training and professional development programmes is done by the Boards as a whole, and this function was not delegated to the NRC. While this is a partial deviation from Provision 4.1(c) which requires the NRC to review and make recommendations to the Boards on the training and professional development programmes for the Boards and their directors, this is consistent with the intent of Principle 4 of the Code.
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