Governance

“Governance and leadership are the yin and the yang of successful organisations. If you have leadership without governance you risk tyranny, fraud and personal fiefdoms. If you have governance without leadership you risk atrophy, bureaucracy and indifference.” - Mark Goyder

At Hyflux, we believe that good governance is required for sustainable growth and increase in long term company value. We have put in place several measures to help ensure that the company is run in accordance with the principles of good governance. We follow closely the Code of Corporate Governance 2005, which is the Singaporean gold standard of good governance. Our board of directors is run along these lines, and contains a significant number of independent directors, all of whom attend board meetings regularly. We also have an internal code of ethics and conduct which we expect all our employees to abide by. In addition, we have instituted quality and environment management systems to ensure that are products are of the very best quality, and produced in ways that minimize harm to the environment.

The following sections summarise the key points of our governance structure, with appended full-length documents for investors to obtain a more complete understanding of our governance practices.

Adheres to National Standard of Corporate Governance

  • Adheres to the Code of Corporate Governance 2005.
  • Observes the spirit of the SGX corporate governance principles in developing and reviewing corporate governance policies and practices, taking into account its evolving needs as well as local and international developments.

Downloads

Code of Ethics and Conduct

  • Implemented an internal Code of Ethics and Conduct to guide employee behaviour. The Group seeks the cooperation of all its employees, vendors and other counterparties to ensure compliance with this code (relevant documents attached below).
  • Process for sourcing contractors and other vendors are ISO certified, which encompasses their meeting our requirements on delivery, price and specifications.

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Board Committees

  • High degree of independence: 50% of the directors of the board are independent.
  • All directors attend the various board and committee meetings regularly: the full board attended the Company's AGM in April 2008 and 1 director was unable to do so for April 2009 due to overseas travel.
  • Established specific committees (Audit, Nominating, Remuneration, Risk Management, and Executive Committees) to deal with their respective subject-matter, each of which has its respective written terms of reference and operating procedures.
  • Regular review of terms of reference of the board and its committees.

Downloads

Environment Management System

  • Adopts ISO 14001 standard
  • EMS Committee chaired by the Chief Manufacturing Officer, Mr Fong Chun Hoe, meets on a regular basis to address environmental aspects and resource conservation.
  • Systematically implementing performance standards at our existing operations to minimize emissions, discharges and waste and to promote responsible waste management practices.

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Quality Management System

  • Established a process-based quality management system (QMS) modeled after ISO 9001:2000 that adheres to the most stringent international quality standards.

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