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Annual Report 2015
TEHO INTERNATIONAL INC LTD.
The Board has on the recommendation of the AC, implemented a whistle blowing policy for
the Group with the objective of providing an avenue for staff, suppliers and customers to raise
in confidence concerns about possible improprieties in matters of financial reporting or other
matters which they become aware. A copy of the whistle blowing policy has been posted on the
Company’s website for the information of its stakeholders. There were no incidents pertaining to
whistle blowing for FY2015.
Internal Audit
Principle 13:
The company should establish an effective internal audit function that is adequately
resourced and independent of the activities it audits.
As the size of the operations of the Group does not warrant the Group having an in-house
internal audit function, the Group outsourced its internal audit function to the Internal Auditors
as mentioned in Principle 11. The Internal Auditors consult and report directly to the AC and
administratively to the Board. During FY2015, the Internal Auditors had reviewed key internal
controls in the major operational areas of the Group as detailed in the internal audit plan submitted
to and approved by the AC as mentioned in Principle 11. Findings and the Internal Auditors’
recommendations on areas of improvement were reported to the AC and for management’s
implementation and were also made available to the External Auditors for review.
The AC had met with the Internal Auditors without the presence of management to discuss their
findings on the Company’s observance of internal control measures that are in place.
The AC has reviewed the adequacy of the internal audit function and is satisfied that it is adequately
resourced and has appropriate standing within the Group to perform its duties effectively.
SHAREHOLDER RIGHTS AND RESPONSIBILITIES
Shareholder Rights
Principle 14:
Companies should treat all shareholders fairly and equitably, and should recognise,
protect and facilitate the exercise of shareholders’ rights, and continually review
and update such governance arrangements.
The Group’s corporate governance practices promote fair and equitable treatment of all
shareholders. To facilitate shareholders’ ownership rights, the Group ensures that all material
information is disclosed on a comprehensive, accurate and timely basis via SGXNET. The Group
recognises that the release of timely and relevant information is central to good corporate
governance and enables shareholders to make informed decisions in respect of their investments
in the Company.
All shareholders are entitled to attend the AGM and are afforded the opportunity to participate
effectively at the AGM. The Articles of Association of the Company allow a shareholder to appoint
up to two proxies to attend and vote in the shareholder’s place at the AGM.
Communication with Shareholders
Principle 15:
Companies should actively engage their shareholders and put in place an
investor relations policy to promote regular, effective and fair communication with
shareholders.
The Company is committed to maintaining and improving its level of corporate transparency of
financial results and other pertinent information. In line with the continuous disclosure obligations
of the Company pursuant to the Catalist Rules and the Companies Act, Cap. 50, it is the
Board’s policy to ensure that all shareholders are informed on a timely basis of every significant
development that has an impact on the Group.
The Company does not practise selective disclosure. Results and annual reports are announced
or issued within the mandatory period.
The Company conducts its investor relations on the following principles:
(a) Information deemed to be price-sensitive is disseminated without delay via announcements
on SGXNET;
(b) Endeavour to provide comprehensive information in financial results announcements to
help shareholders and potential investors make informed decisions; and
(c) Operate an open policy with regard to investors’ enquiries.
REPORT OF
CORPORATE GOVERNANCE
