Introduction Sembcorp Industries Limited (Sembcorp), a subsidiary of Temasek Holdings (Private) Limited, is a Singapore-based diversified...

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Introduction Sembcorp Industries Limited (Sembcorp), a subsidiary of Temasek Holdings (Private) Limited, is a Singapore-based diversified energy company with unique advantages in delivering innovative integrated solutions such as renewable energy, Power and gas, integrated utilities, retail electricity, water and waste management solutions to help companies achieve sustainable development goals and develop a low carbon economy. Founded in 1998 as a shipyard, the company has grown into one of the largest companies in Singapore with a market capitalisation of over S$3.6 billion. Sembcorp is a Singapore-listed company and a constituent of the Straits Times Index. Profile of listed company - Sembcorp Ltd - Jason Established in 1998, Singapore's SEMBCorp Industries is a leading engineering services group. It was formed following the merger between Sembawang Corporation and STIC. SEMBCorp Industries' five main businesses are: Utilities Engineering, Construction Logistics, Marine Engineering, and Environmental Engineering. SEMBCorp Industries has been a pioneer in the development of multiple multi-utility centres in Singapore. It is also the country's first commercial importer and supplier of natural gas. Based in Singapore, SEMBCorp Industries is the largest environmental management firm in both Australia and Singapore. It operates Asia's first automated recycling facility, as well as a joint venture with Australia's VISY Recycling. Corporate governance - Phing Sze Corporate governance is a set of systems or rules, formal or informal, internal or external, that govern, guide and coordinate the interests of a company with those of all its stakeholders to ensure scientific corporate decision making and ultimately protect the interests of all parties in the company. Corporate governance essentially involves balancing the interests of a company's many stakeholders, such as shareholders, senior management, customers, suppliers, financiers, government and the community. Corporate governance addresses the interrelationships between business operators and owners, decision makers and executives, and creates a favourable operating environment for management within the company so that they can devote their full attention to day-to-day business issues. A good operating environment promotes mutual trust, and consensus. Second, corporate governance clarifies the company's business objectives and key strategies, thus setting the direction and focus of internal management and reducing the potential for reduced financial losses, waste, risk and corruption within the company. Therefore, with corporate governance, all stakeholders can benefit accordingly Sembcorp Ltd corporate governance initiative In 2020, Sembcorp ranked eighth globally in the Singapore Governance and Transparency Index, a leading index evaluating the corporate governance practices of Singapore-listed companies. The company has a clear governance framework that defines the roles and responsibilities of the board, executive management team, and employees. Sembcorp also has an effective risk management system that helps identify and manage risks across the company. Transparent corporate governance processes are critical to enhancing Sembcorp's corporate responsibility and long-term sustainability. We are committed to high governance standards to create, maintain and increase long-term value for all stakeholders. Transparent corporate governance processes are critical to enhancing Sembcorp's corporate responsibility and long-term sustainability. Sembcorp continues to uphold strict governance and discipline. In terms of corporate governance, risk management, and compliance review, we aim to become the world's top company. We are committed to handling all business in countries around the world with the strictest ethical and professional standards. This fact helps Sembcorp maintain and maximize value, allowing Sembcorp to build a solid and enduring business that delivers sustainable long-term performance. Sembcorp believes that building a sustainable business can bring long-term value and growth to shareholders. We achieve our goals in a disciplined and responsible manner based on our core values of integrity and high standards of corporate governance. Outline their board structure/ risk committee/executive compensation committee and audit committee (if possible with diagrams) The board provides leadership and direction on overall strategy, value creation, and innovation, and ensures that necessary financial and human resources are in place, deployed. and optimized. Reviewing management performance and overseeing the group's overall performance targets, key operational initiatives, annual budgets for financial plans, major investments, divestments, and financing. Ang Kong Hua. (2022 Oct) The main functions of the Risk Committee, comprising non-executive directors and independent directors are to review and approve the group's policies, including risk appetite; review the adequacy and adequacy of the group's risk management systems, processes, review risk-related reports submitted by management, including updates on the Group's risk portfolio, reports on significant risk exposures and related issues. The Executive Committee assists the Board in formulating the Group's strategy and overseeing the Group's management business and affairs. Its responsibilities are to review and approve business opportunities, contracts, strategic investments, and divestitures of the group within the financial authority of the board of directors; evaluate and recommend board approvals, investments, capital, and operating expenditures. All members of the Audit Committee are non-executive members and independent directors. Responsibilities are to review the group's financial and accounting matters to ensure full and semi-annual accuracy and prior annual financial statements submitted to the board; to review and discuss external and internal auditors and to manage any suspected fraud, irregularities or suspected breaches of rules and regulations. Committees involvement - Pre and Post I. During the Covid-19 pandemic, Sembcorp's board and committees have been working closely together to ensure the company can effectively respond to the crisis. A comprehensive business continuity plan has been developed by the Board of Directors and has been implemented company-wide. The impact of Covid-19 is unprecedented in many ways. Despite the difficulties, Sembcorp remains committed to ensuring that essential products and services that support the community can continue to operate with minimal or no disruption while ensuring the health and safety of Sembcorp employees. Given manpower and resource constraints during the Covid-19 period, maintaining production and service levels remains a priority for the business. Amanda, B. (2021, Oct 21) Sembcorp's board advocates for the company's risk by setting the tone and direction. Specifically, Sembcorp's Board of Directors determines the level of material risk tolerance the company can tolerate and commits to achieve business objectives, provides oversight for the design, implementation, and monitoring of risk management and internal control systems, and reviews the adequacy and effectiveness of these systems. Sembcorp Marine (2020) Sembcorp's Board of Directors performs its risk governance responsibilities on behalf of the Board Risk Committee (BRC). The President and Chief Executive Officer (PCEO) manages enterprise-wide risk. Risk direction and approved policies are guided by the board of directors. The Management Committee (ERMC) drives risk planning and manages risk issues. Supporting the ERMC are risk advocates and various risk subcommittees for credit, critical asset, and project risk. Heads of business units and yards are responsible for managing risk within their domain and ensuring that their respective risk management frameworks and systems are in line with Sembcorp's ERM policy. Sembcorp integrates risk identification, assessment and mitigation decisions, resource allocation, and timely communication. Sembcorp Marine (2020) Safeguarding relationships, transparency, and honesty with clients during the time of Covid-19 are necessary for the Executive Committee. Reassess whether there are contractual delivery dates that are still feasible and acceptable to the customer for on-time delivery if it is necessary to reset the project baseline and whether the contract is liquidated damages, payment refunds, and other important contractual terms are still in consideration of Covid-19 are reasonable regulations and restrictions, etc. are the executives working closely with Sembcorp clients to get back to work. Sembcorp Marine (2020) The Audit Committee continues to perform its functions and works closely with the management team to ensure that the financial statements are accurate and reliable. Audit committees develop mitigation measures and action plans for various scenarios. Sizing and optimizing costs across all functions. In addition to salary cuts, reduced director fees, and the deferral of all non-essential capital expenditures, it also instills the mindset everyone needs to exercise financial discipline and prudent spending. Leverage government support through the employment support program, enhanced employment support program, foreign worker rebates & Exemptions, and payroll credit programs. Conclusion Corporate governance is one of the cornerstones of any good business, and Sembcorp, is a good proof of that. According to the Sembcorp annual report, we can get a clear picture of Sembcorp's governance. Sembcorp maintains an effective governance and decision-making structure that embeds responsible business practices within the organization. Sembcorp is committed to fostering an ethical culture and conducting its business with integrity. In addition to this, Sembcorp adopts a range of risk response and risk mitigation measures and strives to ensure that there is an adequate and effective system of risk management and internal control. Introduction Sembcorp Industries Limited (Sembcorp), a subsidiary of Temasek Holdings (Private) Limited, is a Singapore-based diversified energy company with unique advantages in delivering innovative integrated solutions such as renewable energy, Power and gas, integrated utilities, retail electricity, water and waste management solutions to help companies achieve sustainable development goals and develop a low carbon economy. Founded in 1998 as a shipyard, the company has grown into one of the largest companies in Singapore with a market capitalisation of over S$3.6 billion. Sembcorp is a Singapore-listed company and a constituent of the Straits Times Index. Profile of listed company - Sembcorp Ltd - Jason Established in 1998, Singapore's SEMBCorp Industries is a leading engineering services group. It was formed following the merger between Sembawang Corporation and STIC. SEMBCorp Industries' five main businesses are: Utilities Engineering, Construction Logistics, Marine Engineering, and Environmental Engineering. SEMBCorp Industries has been a pioneer in the development of multiple multi-utility centres in Singapore. It is also the country's first commercial importer and supplier of natural gas. Based in Singapore, SEMBCorp Industries is the largest environmental management firm in both Australia and Singapore. It operates Asia's first automated recycling facility, as well as a joint venture with Australia's VISY Recycling. Corporate governance - Phing Sze Corporate governance is a set of systems or rules, formal or informal, internal or external, that govern, guide and coordinate the interests of a company with those of all its stakeholders to ensure scientific corporate decision making and ultimately protect the interests of all parties in the company. Corporate governance essentially involves balancing the interests of a company's many stakeholders, such as shareholders, senior management, customers, suppliers, financiers, government and the community. Corporate governance addresses the interrelationships between business operators and owners, decision makers and executives, and creates a favourable operating environment for management within the company so that they can devote their full attention to day-to-day business issues. A good operating environment promotes mutual trust, and consensus. Second, corporate governance clarifies the company's business objectives and key strategies, thus setting the direction and focus of internal management and reducing the potential for reduced financial losses, waste, risk and corruption within the company. Therefore, with corporate governance, all stakeholders can benefit accordingly Sembcorp Ltd corporate governance initiative In 2020, Sembcorp ranked eighth globally in the Singapore Governance and Transparency Index, a leading index evaluating the corporate governance practices of Singapore-listed companies. The company has a clear governance framework that defines the roles and responsibilities of the board, executive management team, and employees. Sembcorp also has an effective risk management system that helps identify and manage risks across the company. Transparent corporate governance processes are critical to enhancing Sembcorp's corporate responsibility and long-term sustainability. We are committed to high governance standards to create, maintain and increase long-term value for all stakeholders. Transparent corporate governance processes are critical to enhancing Sembcorp's corporate responsibility and long-term sustainability. Sembcorp continues to uphold strict governance and discipline. In terms of corporate governance, risk management, and compliance review, we aim to become the world's top company. We are committed to handling all business in countries around the world with the strictest ethical and professional standards. This fact helps Sembcorp maintain and maximize value, allowing Sembcorp to build a solid and enduring business that delivers sustainable long-term performance. Sembcorp believes that building a sustainable business can bring long-term value and growth to shareholders. We achieve our goals in a disciplined and responsible manner based on our core values of integrity and high standards of corporate governance. Outline their board structure/ risk committee/executive compensation committee and audit committee (if possible with diagrams) The board provides leadership and direction on overall strategy, value creation, and innovation, and ensures that necessary financial and human resources are in place, deployed. and optimized. Reviewing management performance and overseeing the group's overall performance targets, key operational initiatives, annual budgets for financial plans, major investments, divestments, and financing. Ang Kong Hua. (2022 Oct) The main functions of the Risk Committee, comprising non-executive directors and independent directors are to review and approve the group's policies, including risk appetite; review the adequacy and adequacy of the group's risk management systems, processes, review risk-related reports submitted by management, including updates on the Group's risk portfolio, reports on significant risk exposures and related issues. The Executive Committee assists the Board in formulating the Group's strategy and overseeing the Group's management business and affairs. Its responsibilities are to review and approve business opportunities, contracts, strategic investments, and divestitures of the group within the financial authority of the board of directors; evaluate and recommend board approvals, investments, capital, and operating expenditures. All members of the Audit Committee are non-executive members and independent directors. Responsibilities are to review the group's financial and accounting matters to ensure full and semi-annual accuracy and prior annual financial statements submitted to the board; to review and discuss external and internal auditors and to manage any suspected fraud, irregularities or suspected breaches of rules and regulations. Committees involvement - Pre and Post I. During the Covid-19 pandemic, Sembcorp's board and committees have been working closely together to ensure the company can effectively respond to the crisis. A comprehensive business continuity plan has been developed by the Board of Directors and has been implemented company-wide. The impact of Covid-19 is unprecedented in many ways. Despite the difficulties, Sembcorp remains committed to ensuring that essential products and services that support the community can continue to operate with minimal or no disruption while ensuring the health and safety of Sembcorp employees. Given manpower and resource constraints during the Covid-19 period, maintaining production and service levels remains a priority for the business. Amanda, B. (2021, Oct 21) Sembcorp's board advocates for the company's risk by setting the tone and direction. Specifically, Sembcorp's Board of Directors determines the level of material risk tolerance the company can tolerate and commits to achieve business objectives, provides oversight for the design, implementation, and monitoring of risk management and internal control systems, and reviews the adequacy and effectiveness of these systems. Sembcorp Marine (2020) Sembcorp's Board of Directors performs its risk governance responsibilities on behalf of the Board Risk Committee (BRC). The President and Chief Executive Officer (PCEO) manages enterprise-wide risk. Risk direction and approved policies are guided by the board of directors. The Management Committee (ERMC) drives risk planning and manages risk issues. Supporting the ERMC are risk advocates and various risk subcommittees for credit, critical asset, and project risk. Heads of business units and yards are responsible for managing risk within their domain and ensuring that their respective risk management frameworks and systems are in line with Sembcorp's ERM policy. Sembcorp integrates risk identification, assessment and mitigation decisions, resource allocation, and timely communication. Sembcorp Marine (2020) Safeguarding relationships, transparency, and honesty with clients during the time of Covid-19 are necessary for the Executive Committee. Reassess whether there are contractual delivery dates that are still feasible and acceptable to the customer for on-time delivery if it is necessary to reset the project baseline and whether the contract is liquidated damages, payment refunds, and other important contractual terms are still in consideration of Covid-19 are reasonable regulations and restrictions, etc. are the executives working closely with Sembcorp clients to get back to work. Sembcorp Marine (2020) The Audit Committee continues to perform its functions and works closely with the management team to ensure that the financial statements are accurate and reliable. Audit committees develop mitigation measures and action plans for various scenarios. Sizing and optimizing costs across all functions. In addition to salary cuts, reduced director fees, and the deferral of all non-essential capital expenditures, it also instills the mindset everyone needs to exercise financial discipline and prudent spending. Leverage government support through the employment support program, enhanced employment support program, foreign worker rebates & Exemptions, and payroll credit programs. Conclusion Corporate governance is one of the cornerstones of any good business, and Sembcorp, is a good proof of that. According to the Sembcorp annual report, we can get a clear picture of Sembcorp's governance. Sembcorp maintains an effective governance and decision-making structure that embeds responsible business practices within the organization. Sembcorp is committed to fostering an ethical culture and conducting its business with integrity. In addition to this, Sembcorp adopts a range of risk response and risk mitigation measures and strives to ensure that there is an adequate and effective system of risk management and internal control.