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GRAND BANKS YACHTS LIMITED
ANNUAL REPORT
2016
CORPORATE GOVERNANCE REPORT
Disclosure On Remuneration
Principle 9:
Each company should provide clear disclosure of its remuneration policies, level and mix of remuneration,
and the procedure for setting remuneration, in the company’s Annual Report. It should provide disclosure
in relation to its remuneration policies to enable investors to understand the link between remuneration paid
to directors and key management personnel, and performance.
Guidelines Of The Code
Grand Banks Corporate Governance Practices
9.1 The company should report to the shareholders each year
on the remuneration of directors, the CEO and at least
the top five key management personnel (who are not also
directors or the CEO) of the company.
This annual remuneration report should form part of, or be
annexed to the Company’s Annual Report of its directors.
It should be the main means through which the company
reports to shareholders on remuneration matters.
Please refer to Table D for remuneration bands for the
Directors and the top five key Executives.
9.2 The company should fully disclose the remuneration of each
individual director and the CEO on a named basis.
There should be a breakdown (in percentage or dollar
terms) of each director’s and the CEO’s remuneration
earned through base/fixed salary, variable or performance-
related income/bonuses, benefits-in-kind, stock options
granted, share-based incentives and awards, and other
long-term incentives.
Please refer to Table D for remuneration bands for the
Directors and the top five key Executives.
9.3 The company should name and disclose the remuneration
of at least the top five key management personnel (who are
not directors or the CEO) in bands of S$250,000.
In addition, the company should disclose in aggregate the
total remuneration paid to the top five key management
personnel (who are not directors or the CEO).
As best practice, companies are encouraged to fully
disclose the remuneration of said top five key management
personnel.
Please refer to Table D for remuneration bands for the
Directors and the top five key Executives.
9.4 The annual remuneration report should disclose the
remuneration of employees, on a name basis, who are
immediate family members of a director or the CEO, and
whose remuneration exceeds S$50,000 during the year.
Disclosure of remuneration should be in incremental bands
of S$50,000.
The Company has no employees related to a director
or the CEO.
9.5 The annual remuneration report should also contain details
of employee share schemes to enable their shareholders to
assess the benefits and potential cost to the companies.
Please refer to Note 23 of the Financial Statements.
