Lawrence Loh Isabel Sim Muhammad Ibrahim Vincent Yang Shaozhen

GTI 2009 GTI 2010 GTI 2011 GTI 2012 GTI 2013

30

35

40

33.9 33.5

31.5

34.9

38.0

Commerce

Construction

Finance

Hotels / Restaurants

Manufacturing

Multi-Industry

Properties

Transport, Storage & Communication

Services

34.8

30 40 50 6010 200

32.929.2

34.529.8

28.1

49.043.2

38.4

35.033.3

30.4

36.133.4

30.2

53.848.1

43.2

44.438.6

36.9

47.342.6

39.3

36.933.6

29.6

GTI 2013GTI 2012GTI 2011

0

5

Base Score Bonus Score Penalty Score

10

15

20

25

30

35

40

45

1.8 2.2 3.0

7.85.1 5.9

37.5 37.741.0

GTI 2013GTI 2012GTI 2011

GTI 2013GTI 2012GTI 2011

34 3330

3335

39 40 4043

37

27 27 2624

29

25th 50th 75th05

10

15

20

25

30

35

40

45

50

GTI Score Percentile

GTI 2010GTI 2009

Is the board led by an independent chairman?

Satisfy Code of Corporate Governance 2012 Guideline 2.2:

14.8% (98 Companies)

Satisfy Code of Corporate Governance 2012 Guideline 2.2 & Guideline 3.3:

18.1% (120 Companies)

Does the board have a lead independent director

+having more than 50% of the

board Independent

Needs improvement by FY 2017(67.1%, 446 Companies)

Yes

Yes

No

No

Guideline 2.2 The independent directors should make up at least half of the Board where:

Guideline 3.3 Every company should appoint an independent director to be the lead independent director where:

(a) the Chairman of the Board (the “Chairman”) and the Chief Executive Officer (or equivalent) (the “CEO”) is the same person;(b) the Chairman and the CEO are immediate family members;(c) the Chairman is part of the management team; or(d) the Chairman is not an independent director.

CODE OF CORPORATE GOVERNANCE 2012

0%

10%

20%

70%

30%

60%

40%

50%

Process disclosed

Criteria disclosed

Perc

enta

ge o

f Com

pani

es

GTI 2013GTI 2012GTI 2011

GTI 2013GTI 2012GTI 2011

Process disclosed

Criteria disclosed

0%

10%

20%

30%

40%Pe

rcen

tage

of C

ompa

nies

0%

1%

2%

7%

3%

6%

4%

5%

8%

9%

Director training Succession planning

Perc

enta

ge o

f Com

pani

es

GTI 2013GTI 2012GTI 2011

0%

10%

20%

70%

30%

60%

40%

50%

80%

90%

Exact disclosure

Disclosure in “bands”

Non - compliance

Perc

enta

ge o

f Com

pani

es

GTI 2013GTI 2012GTI 2011

Separate board-level risk committee

CEO / CFOcertification

0%

2%

12%

4%

10%

6%

8%

Perc

enta

ge o

f Com

pani

es

GTI 2013GTI 2012GTI 2011

Perc

enta

ge o

f Com

pani

es

Weblink provided in annual report / SGX Net

Web has IR link0%

10%

20%

70%

30%

60%

40%

50%

80%

90%

100%

GTI 2013GTI 2012GTI 2011

Perc

enta

ge o

f Com

pani

es

Website has latest financial results

Website has latest annual report

0%

10%

20%

70%

30%

60%

40%

50%

80%

90%

100%

GTI 2013GTI 2012GTI 2011

Detailed information of the voting results

0%

20%

40%

100%

60%

80%

Detailed information on each item in the AGM agenda

GTI 2013GTI 2012GTI 2011

Perc

enta

ge o

f Com

pani

es

> 27 days14 - 27 days0%

20%

40%

100%

60%

80%

GTI 2013GTI 2012GTI 2011Pe

rcen

tage

of C

ompa

nies

GTI 2013No. of

Companies

GTI 2013% of

Companies

GTI 2012No. of

Companies

GTI 2012% of

Companies

GTI 2011No. of

Companies

GTI 2011% of

Companies

NUMBER / PERCENTAGE OF COMPANIESINDUSTRY*

Commerce

Construction

Finance

Hotels/Restaurants

Manufacturing

87

35

26

14

259

16

37

136

32

20

664

13%

5%

4%

2%

39%

2%

6%

20%

5%

3%

100%

95

30

25

16

274

16

38

130

41

9

674

14%

5%

4%

2%

41%

2%

6%

19%

6%

1%

100%

98

27

26

15

273

18

34

123

38

8

660

15%

4%

4%

2%

41%

3%

5%

19%

6%

1%

100%

Multi-Industry

Properties

Services

Transport, StorageAnd Communications

Others**

Total

* Sector classification from SGX. More details can be found on http://sgx.com/wps/portal/sgxweb/home/companydisclosure/stock_indiceslist** Others: Sectors include Agriculture, Electricity/Gas/Water and Mining/Quarrying