First Resources Limited is committed to maintaining high standards of corporate governance through transparency and effective disclosures.
Our latest Corporate Governance Report sets out the Company’s corporate governance practices for the financial year ended 31 December 2023, with specific reference to the Code of Corporate Governance 2018 issued by the Monetary Authority of Singapore on 6 August 2018. The Board is pleased to inform that the Company is substantially in compliance with the Code of Corporate Governance 2018.
The Board and the various Committees currently comprise the following members:
| Name | Board | Audit Committee | Nominating Committee | Remuneration Committee |
|---|---|---|---|---|
| Chang See Hiang | Chairman and Independent Director | – | Chairman | Member |
| Ciliandra Fangiono | Executive Director | – | Member | – |
| Fang Zhixiang | Executive Director | – | – | – |
| Peter Ho Kok Wai | Independent Director | Chairman | – | – |
| Wong Su Yen | Independent Director | – | Member | Chairman |
| Luo Dan | Independent Director | – | – | Member |
| Mary Yeo Chor Gek | Independent Director | Member | – | – |
| Tan Seow Kheng | Non-Executive and Non-Independent Director | Member | – | – |
CODE OF CONDUCT
The Company has a Code of Conduct which serves as a general guideline for Management and employees in conducting their duties and responsibilities ethically. It outlines corporate values and ethical standards which are in line with the Group’s vision and mission. Areas covered under the Code of Conduct include professionalism and work ethics, conflict of interest, political impartiality, anti-corruption and zero tolerance on fraud. All our employees will also have to comply with applicable country laws, regulations and legal requirements. Any breach of the Code of Conduct can result in disciplinary action in accordance with the prevailing laws and regulations as well as termination of employment. The Code of Conduct is disseminated to our employees, suppliers and other business partners.
WHISTLE-BLOWING POLICY
The Company has put in place a whistle-blowing policy, endorsed by the AC, which provides for a mechanism by which employees and any external stakeholders of the Group may, in confidence, raise concerns about possible unethical conduct and improprieties in financial reporting or other matters. The objective of this policy is to encourage the reporting of such matters in good faith, with the confidence that employees and other persons making such reports will be treated fairly and, to the extent possible, protected from reprisal. All information received is treated with confidentiality and anonymous reporting is accepted for protecting the identity and interest of all whistle-blowers. The AC is responsible for the oversight and monitoring of the whistle-blowing policy and ensuring that it is properly administered with the assistance of the Head of IA.
The Company neither tolerates nor condones any actions taken against any employee or other person in retaliation for raising a compliance or integrity issue, and may institute disciplinary action against any party found to have taken such retaliatory action against whistle-blowers.
Whistle-blowing reports may be received by the Internal Audit function on behalf of the AC. The Internal Audit function will conduct an initial review of the reports received and recommend for remedial, disciplinary or other corrective actions to be taken by the Company. A summary of the investigations conducted is reported to the AC for its attention on a monthly basis. Whistle-blowing matters, where substantiated and material, are reported to the AC immediately.
The AC ensures that independent investigations and appropriate follow-up actions are carried out, where applicable. Details of the Group’s whistle-blowing policy, including the different avenues for reporting (as per attached), have been made available to all employees and on the Company’s website.
Any external stakeholder wishing to report or raise any such concerns about the Company may also do so via audit.comm@first-resources.com.
Any complaint that relates to or concerns a Director or senior management of the Company may also be reported directly to the AC Chairman via audit.comm.chairman@first-resources.com.