ASAPLUS RESOURCES LIMITED ASAPLUS RESOURCES LIMITED
(Incorporated in Singapore)
Registraon No. 201210180E
CORPORATE GOVERNANCE
STATEMENT
Updated as of
30 March 2022
60 Paya Lebar Road #08-55
Paya Lebar Square Singapore 409051 T: +65 66552730info@asaplusresources.com
1.1
A listed enty should have and disclose a board charter seng out:
(a) the respecve roles and responsibilies of its board and management; and
(b)those maers expressly reserved to the board and those delegated to management.
The Company complies in full with this Recommendaon
The board has adopted a formal Board Charter seng out the responsibilies of the board. This charter can be downloaded from the Company's website at the following URL:www.asaplusresources.com.
1.2
A listed enty should:
(a) undertake appropriate checks before appoinng a director or senior execuve or pung someone forward for elecon as a director; and
(b)provide security holders with all material informaon in its possession relevant to a decision on whether or not to elect or re-elect a director.
The Company complies in full with this Recommendaon
The enre board will carry out appropriate checks before appoinng a person, or pung forward to security holders a candidate for elecon, as a director. All material informaon in the board's possession will be set out in explanatory notes accompanying noces of general meengs where appointments of directors will be voted on by security holders.
1.3
A listed enty should have a wrien agreement with each director and senior execuve seng out the terms of their appointment.
1.4
The company secretary of a listed enty should be accountable directly to the board, through the chair, on all maers to do with the proper funconing of the board.
The Company complies in full with this Recommendaon
Each director is required to sign a leer of appointment seng out the terms of his or her appointment. There is currently no senior execuve being employed on a full me basis by the Group.
The Company complies in full with this Recommendaon.
The chair and each member of the board has free and unfeered access to the company secretary. The company secretary is also authorized to communicate any issue or raise any concern directly with the chair and/or any member of the board as he consider necessary.
1.5
A listed enty should:
(a) have and disclose a diversity policy;
(b) through its board or a commiee of the board set measurable objecves for achieving gender diversity in the composion of its board, senior execuves and workforce generally; and
(c)disclose in relaon to each reporng period:
(1) the measurable objecves set for that period to achieve gender diversity;
The Company does not comply in full with this Recommendaon.
The board supports workplace diversity, including gender diversity but considers that the Company is not of a size or maturity to jusfy a formal diversity policy. The board's priority has been to ensure that its members have the appropriate level of experience and skills to manage the Company at its early stages of operaon rather than focusing on gender and other diversity factors.
The Company's operang subsidiary carries on business of developing an iron ore mine located
(2) the enty's progress towards achieving those objecves; and
(3)either:
(A) the respecve proporons of men and women on the board, in senior execuve posions and across the whole workforce (including how the enty has defined "senior execuve" for these purposes); or
(B)if the enty is a "relevant employer" under the Workplace Gender Equality Act, the enty's most recent "Gender Equality Indicators", as defined in and published under that Act.
If the enty was in the S&P / ASX 300 Index at the commencement of the reporng period, the measurable objecve for achieving gender diversity in the composion of its board should be to have not less than 30% of its directors of each gender within a specified period.
1.6
A listed enty should:
(a) have and disclose a process for periodically evaluang the performance of the board, its commiees and individual directors; and
(b)disclose for each reporng period whether a performance evaluaon has been undertaken in accordance with that process during or in respect of that period.
1.7
A listed enty should:
(a)have and disclose a process for evaluang the performance of its senior execuves at least once every reporng period; and
(b) disclose for each reporng period whether a performance evaluaon has been undertaken in accordance with that process during or in respect of that period.
in the People's Republic of China (China). The potenal pool of female personnel in China qualified and, more importantly, willing to work in the mining industry at all levels, including senior execuve level, is extremely small relave to the total manpower needs of the industry as a whole. Therefore, the board is of the opinion that even if the Company adopts a gender diversity policy and measurable objecves to achieving gender diversity, the Company will not be able to achieve these objecves.
The Company complies in full with this Recommendaon.
The Company has a pracce and a process of periodically evaluang the performance of the board (collecve self appraisal) and individual directors (peer review by other members of the board). This review will be done at the end of each financial year at the same me the board meets to approve its financial statements for that financial year.
In relaon to the financial year ended 30 June 2021 (the Reporng Period), the Company had carried out a performance evaluaon in accordance with this process.
The Company complies in full with this Recommendaon.
The board will meet at least annually to review the performance of execuves. The senior execuves' performance is assessed against the performance of the Group as a whole.
In relaon to the Reporng Period, this performance evaluaon was not carried out as there is no senior execuve employed by the Group.
2.1
The board of a listed enty should:
(a) have a nominaon commiee which:
(1) has at least three members, a majority of whom are independent directors; and
(2) is chaired by an independent director, and disclose:
(3) the charter of the commiee;
(4) the members of the commiee; and
(5) as at the end of each reporng period, the number of mes the commiee met throughout the period and the individual aendances of the members at those meengs; or
(b) if it does not have a nominaon commiee, disclose that fact and the processes it employs to address board succession issues and to ensure that the board has the appropriate balance of skills, knowledge, experience, independence and diversity to enable it to discharge its dues and responsibilies effecvely.
2.2
A listed enty should have and disclose a board skills matrix seng out the mix of skills that the board currently has or is looking to achieve in its membership.
The Company does not comply in full with this Recommendaon.
The board considers that the Company is not currently of a size to jusfy the formaon of a nominaon commiee. The board as a whole undertakes the process of reviewing the skill base and experience of exisng directors to enable idenficaon or aributes required in new directors. When appropriate, independent consultants will be engaged to idenfy possible new candidates for the board either as addion to the board to supplement its current skills and experience or as part of succession planning for the board.
The Company complies in full with this Recommendaon.
The skills matrix seng out the mix of skills and diversity that the board had during the Reporng Period is set out below:
DING | LAU Eng | Dominic LIM | ONG Yih |
Poi Bor | Foo (Andy) | Kian Gam | Ching |
Corporate governance
General & administrave management Risk management
Sales and markeng Financial management Entrepreneurship
2.3
A listed enty should disclose:
(a) the names of the directors considered by the board to be independent directors;
(b)if a director has an interest, posion, affiliaon or relaonship of the type described in Box 2.3 but the board is of the opinion that it does not compromise the independence of the director, the nature
The Company complies in full with this Recommendaon.
As of the date of this Corporate Governance Statement, the board comprised of the following persons:
of the interest, posion or relaonship in queson and an explanaon of why the board is of that opinion; and
(c)the length of service of each director.
2.4
A majority of the board of a listed enty should be independent directors.
2.5
The chair of the board of a listed enty should be an independent director and, in parcular, should not be the same person as the CEO of the enty.
DING Poi Bor Execuve director
Date first appointed: 13 February 2018 Date last elected: 25 August 2018# # As managing director, he is not subject to re-elecon
LAU Eng Foo (Andy)
Execuve director / managing director Date first appointed: 1 August 2012 Date last elected: 9 November 2019
Dominic LIM Kian Gam Independent non-execuve director
Date first appointed: 24 November 2014 Date last elected: 10 November 2021
ONG Yih Ching
Independent non-execuve director Date first appointed: 16 May 2018 Date last elected: 9 November 2020
The independent directors, namely Dominic LIM Kian Gam and ONG Yih Ching have no interest, posion, associaon or relaonship of the type described in Box 2.3.
The Company does not comply in full with this Recommendaon.
The Company currently has two independent, non-execuve directors, one non-independent non-execuve director and one execuve director. The Company is seeking to appoint a suitably qualified person as an independent director.
The Company complies in full with this Recommendaon.
Currently, the acng chairman of the board is ONG Yih Ching, an independent director and the funcons of the chief execuve officer is carried out by DING Poi Bor, the Company's managing director.
2.6
A listed enty should have a program for inducng new directors and for periodically reviewing whether there is a need for exisng directors to undertake professional development to maintain the skills and knowledge needed to perform their role as directors effecvely.
The Company complies in full with this Recommendaon.
The board has in place a program where all potenal directors are assessed by the enre board as to the extent of his or her awareness of his or her responsibilies as a director of a company which is listed on ASX, and where such awareness is insufficient, to undergo such
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Asaplus Resources Limited published this content on 30 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 March 2022 09:24:04 UTC.
