{"id":132,"date":"2023-12-27T14:38:22","date_gmt":"2023-12-27T14:38:22","guid":{"rendered":"https:\/\/siliconplus.sg\/psaar2020\/?page_id=132"},"modified":"2023-12-27T19:24:10","modified_gmt":"2023-12-27T19:24:10","slug":"corporate-governance","status":"publish","type":"page","link":"https:\/\/siliconplus.sg\/psaar2020\/corporate-governance\/","title":{"rendered":"Corporate governance"},"content":{"rendered":"<p><strong>STEERED BY OUR VALUES<\/strong><br \/>\nIn conducting the organisation\u2019s business affairs, PSA International\u2019s Board of Directors adheres to a prudent and strategic approach, considering the everchanging landscape of the industry while taking into account sustainable growth and financial performance.<\/p>\n<p>The Board meets every quarter to assess investment opportunities, and to chart the company\u2019s path ahead. The approval of budgets and audited accounts are carried out on an annual basis. Decisions are made based on a majority voting system. In the event of a tie, the Chairman would cast the deciding vote.<\/p>\n<p>The Board is ably supported by the following Committees:<\/p>\n<p><strong>AUDIT COMMITTEE (AC)<\/strong><br \/>\nThe AC is tasked with conducting regular reviews of the effectiveness of control procedures, in order to identify and mitigate significant risk areas. It assesses the reliability of management reporting, compliance with applicable laws and regulations, and reviews the statutory accounts.<\/p>\n<p><strong>LEADERSHIP DEVELOPMENT &amp; COMPENSATION COMMITTEE (LDCC)<\/strong><br \/>\nThe LDCC oversees leadership development, talent management and remuneration. It puts in place appropriate programmes and consistent policies to groom leaders, develop global talent and ensure the readiness of potential successors to assume key leadership positions. It also conducts performance reviews and approves the remuneration of PSA senior management.<\/p>\n<p><strong>SUPERVISORY COMMITTEES (SCs)<\/strong><br \/>\nThe SCs ensure that PSA\u2019s global portfolio of terminals is appropriately managed by aligning PSA\u2019s management resources. There are five SCs within the organisation, each supervising one or more geographic regions: Southeast Asia SC; Northeast Asia SC; Middle East South Asia SC; Europe, Mediterranean &amp; the Americas SC; and Marine Services SC. Each SC plans and reviews growth strategies and approves major capital expenditures, customer contracts, tenders and purchase contracts for PSA entities under its business purview.<\/p>\n<p>In every decision it makes and every step it puts forward, PSA holds itself to the highest standards. At PSA, we are committed to conducting ourselves with integrity and accountability, no matter the challenge at hand. All our business and commercial practices are strictly guided by the PSA Code of Business Ethics &amp; Conduct.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>STEERED BY OUR VALUES In conducting the organisation\u2019s business affairs, PSA International\u2019s Board of Directors adheres to a prudent and strategic approach, considering the everchanging landscape of the industry while taking into account sustainable growth and financial performance. The Board meets every quarter to assess investment opportunities, and to chart the company\u2019s path ahead. 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