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EC World Real Estate Investment Trust ANNUAL REPORT 2016
Board Composition and Guidance
Principle 2:
Strong and independent element on the Board
The NRC reviews from time to time the size and composition of the Board with a view to ensuring that the size of
the Board is appropriate in facilitating effective decision-making, taking into account the scope and nature of the
operations of ECW and its subsidiaries (the “ECW Group”); and that the Board has a strong independent element. The
Board comprises eight (8) Directors: three (3) executive Directors, one (1) non-executive Director and four (4) non-
executive independent Directors (the “IDs”). The current Board comprises individuals who are business leaders and
professionals with financial, banking, real estate and investment backgrounds. The varied backgrounds of the Directors
enable Management to benefit from their respective expertise and diverse background.
Each Director brings to the Board skills, experience, insights and sound judgement which, together with his strategic
networking relationships, serve to further the interests of ECW. The Chairman of the Board is a Non-Executive Director
(the “NED”). Profiles of the Directors are provided on pages 14 to 18 of this Annual Report.
No alternate Director was appointed.
The NRC assesses the independence of each Director in accordance with the guidance in the Code and the existence
of relationships or circumstances. Each non-executive Directors had provided declarations of their independence
which have been deliberated upon by the NRC. The NRC has determined Mr Chan Heng Wing, Mr Wong See Hong,
Mr Chia Yew Boon and Mr Li Guosheng to be independent in terms of their character and judgement in the discharge
of their responsibilities as Directors. Each member of the NRC had recused himself from deliberations on his own
independence.
Non-executive Directors (“NEDs”) contribute to the Board process by monitoring and reviewing Management’s
performance against goals and objectives. Their view and opinions provide alternative perspectives to ECW’s business
and enable the Board to make informed and balanced decisions. NEDs also work with Management to help shape the
strategic process.
When reviewing Management proposals or decisions, the NEDs bring their objective judgement to bear on business
activities and transactions involving conflicts of interest and other complexities. The NEDs meet without the presence
of Management on a need-basis.
In the spirit of good corporate governance, the Board has appointed Mr Chan Heng Wing as Lead Independent Director.
The Lead Independent Director is available to Unitholders if they have concerns and for which contact through normal
channels of Chairman, the CEO or the CFO, has failed to resolve or is inappropriate.