Directors’ Statement SHARE OPTIONS During the financial year, there were: (i) no options granted by the Company or its subsidiaries to any person to take up unissued shares in the Company or its subsidiaries; and (ii) no shares issued by virtue of any exercise of option to take up unissued shares of the Company or its subsidiaries. As at the end of the financial year, there were no unissued shares of the Company or its subsidiaries under options. AUDIT COMMITTEE The Audit Committee members at the date of this statement are Mr Chaly Mah Chee Kheong (Chairman), Ms Helen Wong Siu Ming, Tan Sri Abdul Farid Alias, Mr Gabriel Lim Meng Liang and Mr Tham Kui Seng. The Audit Committee shall discharge its duties in accordance with the Companies Act 1967 and the Listing Manual of the SGXST. The Audit Committee shall also be guided by the Code of Corporate Governance and the Guidebook for Audit Committee in Singapore, and any such codes or regulations as may be applicable from time to time. The principal responsibility of the Audit Committee is to assist the Board of Directors in fulfilling its oversight responsibilities. Areas of review by the Audit Committee include: • the reliability and integrity of the financial statements; • the impact of new, revised or proposed changes in accounting standards and policies or regulatory requirements on the financial statements; • the compliance with laws and regulations, particularly those of the Act and the Listing Manual of the SGX-ST; • the appropriateness of half-yearly and full year announcements and reports; • in conjunction with the assessment by the Risk Committee, assesses the adequacy and effectiveness of the internal control (including financial, operational, compliance and information technology controls) and risk management systems established by management to manage risks; • the adequacy and effectiveness of internal and external audits; • the appointment and re-appointment of external auditors and the level of auditors’ remuneration; • the nature and extent of non-audit services and their impact on independence and objectivity of the external auditors; • interested person transactions; • review the whistle-blowing reports and the policy and processes for the detection, independent investigation and follow-up action relating to possible improprieties in financial reporting or other matters, if any; • the processes put in place to manage any material conflicts of interest within the Group; and • all conflicts of interest matters referred to it. 84 CapitaLand Investment Limited Directors’ Statement AUDIT COMMITTEE (continued) The Audit Committee also reviews the policy and arrangements by which employees of the Company and any other persons may, in confidence, report suspected fraud or irregularity or suspected infringement of any laws or regulations or rules or, raise concerns about possible improprieties in matters of financial reporting or other matters, with a view to ensuring that arrangements are in place for such concerns to be raised and independently investigated and for appropriate follow-up action to be taken. Where the Audit Committee becomes aware of any improprieties, the Audit Committee shall discuss such matter with the external auditors and, at an appropriate time, report the matter to the Board. Where appropriate, the Audit Committee shall also commission internal investigations into such matters. Pursuant to this, the Audit Committee has introduced a whistle blowing policy where employees or any person may raise improprieties to the Audit Committee Chairman in good faith, with the confidence that employees or any person making such reports will be treated fairly and be protected from reprisal. The Audit Committee met four times in 2024. Specific functions performed during the year included reviewing the scope of work and strategies of both the internal and external auditors, and the results arising therefrom, including their evaluation of the system of internal controls. The Audit Committee also reviewed the assistance given by the Company’s officers to the auditors. The financial statements of the Group and the Company were reviewed by the Audit Committee prior to the submission to the Board of Directors of the Company for adoption. The Audit Committee also met with the internal and external auditors, without the presence of management, to discuss any issues of concern with them. The Audit Committee has, in accordance with Chapter 9 of the Listing Manual of the SGX-ST, reviewed the requirements for approval and disclosure of interested person transactions, reviewed the procedures set by the Group and the Company to identify and report and where necessary, seek approval for interested person transactions and, with the assistance of the internal auditors, reviewed interested person transactions. The Audit Committee also undertook yearly reviews of all non-audit services provided by Deloitte & Touche LLP and its member firms and was satisfied that they did not affect their independence as external auditors of the Company. The Audit Committee has recommended to the Board of Directors that the auditors, Deloitte & Touche LLP, be nominated for re-appointment as auditors at the forthcoming Annual General Meeting of the Company. AUDITORS The auditors, Deloitte & Touche LLP, have expressed their willingness to accept re-appointment. On behalf of the board of directors: Miguel Ko Director Lee Chee Koon Director 14 March 2025 85 Annual Report 2024
RkJQdWJsaXNoZXIy NTkwNzg=