The Manager is responsible for the strategic direction and management of the assets and liabilities of MIT and its subsidiaries (collectively, the “Group”). As a REIT Manager, the Manager is licensed by the Monetary Authority of Singapore and holds a Capital Markets Services Licence for REIT management (“CMS Licence”).
The Manager discharges its responsibility for the benefit of MIT and its unitholders, in accordance with the applicable laws and regulations as well as the trust deed constituting MIT (“Trust Deed”). The Manager sets the strategic direction of the Group and gives recommendations to DBS Trustee Limited, in its capacity as trustee of MIT (the “Trustee”), on the acquisition, divestment or enhancement of assets of the Group.
The Manager’s roles and responsibilities include:
- carrying out and conducting the Group’s business in a proper and efficient manner and conducting all transactions with or for the Group on an arm’s length basis and on normal commercial terms;
- preparing annual budget proposal with forecast on gross revenue, property expenditure, capital expenditure and providing explanations of major variances against prior year's actual results and written commentaries on key issues and any other relevant assumptions. The purposes of such proposals and analyses are to chart the Group's business for the year ahead and to explain the performance of MIT’s properties compared to the prior year; and
- ensuring compliance with the applicable laws and regulations, including the Securities and Futures Act (Chapter 289 of Singapore), the Listing Manual of Singapore Exchange Securities Trading Limited, the Code on Collective Investment Schemes, the Singapore Code on Takeovers and Mergers, the Trust Deed, the conditions of the CMS Licence and any tax rulings.
The Manager adopts the principle that an effective Board of Directors (the “Board”) for the Manager is one which is constituted with the right core competencies and diversity of experience, so that the collective wisdom of the Board can give guidance and provide insights as well as strategic thinking to the management team of the Manager ("Management").
The key roles of the Board are to:
- guide the corporate strategy and direction of the Group;
- ensure that Management discharges business leadership and demonstrates the highest quality of management with integrity and enterprise; and
- oversee the proper conduct of the Manager.
|Mr Wong Meng Meng
||Chairman and Non-Executive Director
|Mr Soo Nam Chow
||Chairman of the Audit and Risk Committee and Independent Non-Executive Director
|Mr John Koh Tiong Lu
||Member of the Audit and Risk Committee and Lead Independent Non-Executive Director
|Mr Seah Choo Meng
||Member of the Audit and Risk Committee and Independent Non-Executive Director
|Mr Wee Joo Yeow
||Chairman of the Nominating and Remuneration Committee and Independent Non-Executive Director
|Ms Mary Yeo Chor Gek
||Member of the Nominating and Remuneration Committee and Independent Non-Executive Director
|Mr Hiew Yoon Khong
||Member of the Nominating and Remuneration Committee and Non-Executive Director
|Mr Wong Mun Hoong
|Mr Tham Kuo Wei
||Executive Director and Chief Executive Officer
The Whistle-blowing Policy further provides an avenue for employees (both permanent and short-term) and external parties to raise concerns about illegal, unethical or otherwise inappropriate behaviour observed in the course of conducting our businesses. These include questionable accounting, fraud or employee misconduct. The policy contains strong assurance that whistleblowers will be protected from reprisals or victimisation if reports are made in good faith or are not malicious and it further provides guidance in its enforcement by listing examples of reportable behaviour. The three direct reporting channels that have been set apart and handled with confidential safeguards are: Group General Counsel, Head of Internal Audit and Chairman of Audit Committee. For queries or to make a report, please write to firstname.lastname@example.org.
The latest Corporate Governance Report can be found here.