OUE REIT is committed to fair and ethical business conduct with good corporate governance standards.
Compliance
The Manager prioritises compliance with local laws and regulations that guide our day-to-day operations. OUE REIT is regulated as a collective investment scheme under the Securities and Futures Act. The relevant rules are set out in the Property Fund Guidelines under the Code on Collective Investment Schemes by the Monetary Authority of Singapore (“MAS”). In addition, the listing rules of the Singapore Exchange, the Code of Corporate Governance and the latest Environmental Risk Management Guidelines by the MAS form the baseline of laws, regulations and requirements which impact OUE REIT’s reputation and operations.
Ethical Business Practices
The OUE REIT Code of Business Conduct and Ethics (“Code”) spells out the principles that underpin our values. We view fraud, bribery and corruption as serious offences that will damage OUE REIT’s reputation and break the trust of our stakeholders. Employees are expected to abide by the Code which addresses issues such as business integrity, personal conflicts of interest, confidentiality and corporate gifts and entertainment.
The Manager has in place a whistle-blowing policy, and procedures whereby employees and any other person may, in confidence and in good faith, raise concerns about possible improprieties in matters of financial reporting or other matters, as well as any misconduct or wrongdoing relating to its officers without fear of reprisals in any form.
For more information, please view our Whistle-blowing policy.
Cyber Security
The Manager is committed to identifying and understanding cyber security risks in our operations to safeguard OUE REIT from potential cyber incidents. We leverage on the expertise of the OUE Group IT team to establish our Technology Risk Management Framework and execute security practices which are in accordance with MAS guidelines on risk management principles and best practices.
For more information, please view our Sustainability Report.
Corporate Governance
The Manager recognises and embraces the importance and benefits of having a diverse Board to enhance the quality of the Board’s performance, and in supporting OUE REIT’s strategic objectives and sustainable development. The Board has implemented a board diversity policy which considers relevant measurable objectives such as skills, experience and knowledge, gender, age, ethnicity, nationality, cultural background, educational background, independence and length of service .
At the recommendation of the Nominating & Remuneration Committee (“NRC”) and in recognition of the merits of gender diversity, the NRC has committed to
- A target of having at least 25% female directors which would allow for a significant female representation on the Board, and
- Ensuring female candidates are included for consideration when identifying suitable candidates for new appointment to the Board.
The Board will strive to achieve the stated gender diversity in the course of the progressive renewal of the Board by no later than 2030.
Board of Directors:
- 7 board members
- Chairman of the Board is a Non-Executive Director and is not related to the Chief Executive Officer
- Lead Independent Director on the Board
- All members of the Audit & Risk Committee (“ARC”), including the Chairman of the ARC, are independent Directors
- Formation of Nominating & Remuneration Committee since 2015 with an independent Chairman
For more information, please view the Corporate Governance section in our Annual Report.
