During FY 2023, the ARC reviewed the results of audits performed by CLI IA based on the approved audit plan. All findings are reported to Management and the ARC, with emphasis on any significant findings. CLI IA also reviews the status of implementation of the audit recommendations and whether there are any past due items, and reports the same to Management and the ARC. The ARC also reviewed reports on whistle blower complaints reviewed by CLI IA to ensure independent and thorough investigation and adequate follow up. The ARC also received reports on Interested Person Transactions reviewed by CLI IA that they were on normal commercial terms and are not prejudicial to the interests of CICT and its minority Unitholders. CLI IA is adequately resourced and staffed with persons with the relevant qualifications and experience. CLI IA is a corporate member of The Institute of Internal Auditors Inc. (IIA), Singapore, which is an affiliate of the IIA with its headquarters in the United States of America (USA). CLI IA subscribes to, and is guided by, the International Standards for the Professional Practice of Internal Auditing (Standards) developed by IIA, and has incorporated these Standards into its audit practices. To ensure that internal audits are performed effectively, CLI IA recruits and employs suitably qualified professional staff with the requisite skill sets and experience. For instance, CLI IA staff who are involved in IT audits have the relevant professional IT certifications and are also members of the ISACA Singapore Chapter, a professional body administering information systems audit and information security certifications that is headquartered in the USA. The ISACA Information Systems Auditing Standards provide guidance on the standards and procedures to be applied in IT audits. CLI IA identifies and provides training and development opportunities for its staff to ensure their technical knowledge and skill sets remain current and relevant. UNITHOLDER RIGHTS AND ENGAGEMENT Principles 11, 12 and 13: Shareholder Rights and Conduct of General Meetings, Engagement with Shareholders, Managing Stakeholder Relationships The Manager is committed to treating all Unitholders fairly and equitably. All Unitholders enjoy specific rights under the Trust Deed and the relevant laws and regulations. These rights include, among other things, the right to participate in profit distributions. General Meetings CICT supports the principle of encouraging Unitholder participation and voting at general meetings. CICT's AR is provided to Unitholders within 120 days from the end of CICT's financial year. Unitholders may download the AR (printed copies are available upon request) and notice of the general meeting from the Website. These documents are also available on SGXNet. More than the legally required notice period for general meetings is generally provided. The rationale and explanation for each agenda item which requires Unitholders' approval at a general meeting are provided in the notice of the general meeting or in the accompanying circular (if any) issued to Unitholders in respect of the matter(s) for approval at the general meeting. This enables Unitholders to exercise their votes on an informed basis. To safeguard the Unitholders' interests and rights, a separate resolution is proposed for each substantially separate matter to be approved at a general meeting, unless the issues are interdependent and linked to form one significant proposal. Where the resolutions are bundled, the reasons and material implications are explained in the notice of general meeting to enable Unitholders to make an informed decision. Further, if the resolution is in respect of an interested person transaction, the interested person (as defined in the Listing Manual) will be required to abstain from such voting. In FY 2023, CICT held an annual general meeting (AGM) and an extraordinary general meeting (EGM) on 19 April 2023 by way of a physical meeting (collectively, the 2023 General Meetings). Unitholders could also submit questions to the chairman of the meeting in advance of the 2023 General Meetings, and substantial and relevant questions received fromUnitholders were addressed before the 2023 General Meetings via publication on the Website and on the SGXNet, or at the meeting. Unitholders could vote at the 2023 General Meetings themselves or through duly appointed proxy(ies). Unitholders, who did not wish to, or were unable to, attend the 2023 General Meetings in person but who wished to only watch the 2023 General Meetings proceedings were able to do so remotely by accessing CICT’s live webcast of the 2023 General Meetings if they registered to do so. Further information on the arrangements relating to the conduct of the 2023 General Meetings was provided in the Notice of AGM and Notice of EGM, each dated 22 March 2023. Overview Leadership Performance Framework Other Information ANNUAL REPORT 2023 159
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