45 / 132
43
EC World Real Estate Investment Trust ANNUAL REPORT 2016
Access to Information
Principle 6:
Access to Management and complete, adequate and timely information
Management provides the Board with relevant information on a timely basis prior to Board meetings and on an ongoing
basis, to enable the Directors to make informed decisions to discharge their duties and responsibilities. Reports on
ECW’s performance are also provided to the Board on a regular basis.
The CEO provides update on ECW’s business and operations as well as financial performance. Presentations in relation
to specific business areas are also made by key executives and external consultants and/or experts, if required.
Where appropriate, informal meetings are also held for Management to brief Directors on prospective deals and
potential developments in the early stages before formal Board approval is sought.
Board meetings for each year are scheduled in advance to facilitate the Directors’ arrangements and commitments.
Board papers are circulated in advance of each meeting and include background explanatory information for the
Directors to prepare for the meeting and make informed decisions.
The Board has separate and independent access to Management including the Company Secretary at all times. The
Company Secretary attends to corporate secretarial administration matters and advises the Board on governance
matters. The Company Secretary attends all Board meetings. The Board, whether as individual Director or as a group, is
also entitled to have access to independent professional advice where required, at the Manager’s expense.
The appointment and the removal of the Company Secretary is a matter for the Board to determine.
The ARC also meets the internal and external auditors separately at least once a year, without the presence of
Management and has unfettered access to any information that it may require.
(B) REMUNERATION MATTERS
Procedures for Developing Remuneration Policies
Principle 7: Procedures for Developing Remuneration Policies
Principle 8: Level and Mix of Remuneration
Principle 9: Disclosure on Remuneration
ECW is externallymanaged by the Manager and accordingly has no personnel of its own. Remuneration of all Directors and
employees of the Manager are paid by the Manager and not by ECW. The Manager adopts the principle that remuneration
for the Board and Management should be assessed holistically. The remuneration structure supports the continuous
development of the management bench strength to ensure robust talent management and succession planning.
The Manager adopts the principle that remuneration matters should be appropriately structured and benchmarked
with good market practices to attract qualified talent to grow and manage its business.