CORPORATE
GOVERNANCE REPORT
The Board of Directors (the “Board” or the “Directors”) of Samudera Shipping Line Ltd (the “Company”) is committed
to setting and maintaining high standard of corporate governance to ensure greater corporate transparency,
accountability, performance and integrity, and at the same time, protect shareholders’ interests and enhance
shareholders’ value.
This report describes the Company’s corporate governance processes and activities that were in place through the
financial year with specific reference to the principles and guidelines as set out in the Code of Corporate Governance
2012 (the“Code”). Unless otherwise stated, the Company has complied with the principles and guidelines of the Code.
BOARD MATTERS
Principle 1: The Board’s Conduct of its Affairs
Guidelines 1.1 and 1.2: The Board’s role, duties and responsibilities
The Company has an effective Board to lead and control the operations and affairs of the Company and its subsidiaries
(collectively the “Group”). The Board is responsible for setting the strategic direction and establishing goals for the
management team of the Company (the “Management”) as well as working together with Management to achieve
these goals set for the Group.
The principal functions of the Board are:
•
To set up and to review the broad policies, strategies and financial objectives of the Group and ensure that the
necessary financial and human resources are in place for the Company to meet its objectives;
•
To supervise the management of the business and affairs of the Group and monitor the performance of
Management;
•
To review the financial performance of the Group;
•
To oversee the processes for evaluating the adequacy of internal controls, risk management, financial reporting
and compliance;
•
To approve the nomination of Board Directors and appointment of key management personnel;
•
To reviewand approve annual budgets, major fundingproposals, potential investments anddivestment proposals,
including material capital investments;
•
To assume responsibility for corporate governance; and
•
To ensure that the Group maintains a sound system of risk management and internal controls to safeguard
shareholders’ interests and the Group’s assets.
Each Director, in the course of carrying out his duties acts in good faith and considers the interests of the Group at all
times. The Board provides shareholders with a balanced and clear assessment of the Group’s performance, position
and prospects on a quarterly basis.
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FOCUSED & RESILIENT
SAMUDERA SHIPPING LINE LTD
ANNUAL REPORT 2015
