Page 16 - Demo

Our Governance FrameworkOne of the three tenets of SIAS is promoting good corporate governance practices. Therefore, it is important we practise what we preach. It has now become even more essential for SIAS as a Charity and an IPC to embrace good governance practices. Appointing an Honorary Chairman and three governance committees are some of the key initiatives undertaken by the Management Committee to adopt good governance at SIAS.COMPOSITION OF THE MANAGEMENT COMMITTEE The Management Committee strives to ensure that the members, as a group, have core competencies in areas such as accounting and finance, management, law, strategic planning, social enterprise and communityrelated experience, and that they bring on board a degree of diversity and viewpoints, expertise and experiences. No Management Committee member shall be related to another member by blood or marriage. Except for the Founder and President, who is also the CEO and staff of the Association, and is a member of the Management Committee allowed by the Constitution, no other staff is on the SIAS Management Committee. In addition, other members of management are invited from time to time to attend and make presentations at Management Committee meetings. The Management Committee believes that to be effective, it should not be too large, whilst at the same time ensuring that there is sufficient range and diversity of expertise, gender, and viewpoints. Our Management Committee size ensures a good balance between continuity, renewal and compliance with charity regulations. The Management Committee has a formalised process for the appointment/re-appointment of committee members; including the President and members of Governance Committees, and forms part of the Constitution. All candidates have to be cleared by the Nomination Committee to ensure compliance with the requirements of the Constitution.Key Functions: To ensure President and Management Committee comply with the Constitution and act in the interest of the Association.HONORARY CHAIRMAN Mr Daniel Teo was appointed as the 5th HonoraryChairman with effect from 1 August 2018. The appointment of the Honorary Chairman, who is independent and non-executive, is to provide the check and balance within the Association, as provided for by our Constitution. This Constitutional appointment is all the more necessary as the current founding President is also the Chief Executive. The Chairman is empowered to intervene in the event he is of the view that the President and/or the Committee has acted in breach of the Association%u2019s Constitution or not acting in the interest of the Association. In such a situation, he can direct the President or the Committee, as the case may be, to comply with the Constitution forthwith and to act in the interest of the Association. The Chairman has to be a person of high stature with extensive knowledge and experience. Mr Daniel Teo is presently a director of the Tong Eng Group of Companies, and is the Chairman and Managing Director of the Hong How Group of Companies. As a noted real estate developer and investor, Mr. Teo was the President of the Real Estate Development Association of Singapore for numerous terms, the last term being from 1998 to 2001. He was also the World President of the International Real Estate Federation from 2000 to 2001. Some of his projects have won the Urban Redevelopment Authority%u2019s Architectural Heritage Award for Conservation and Adaptive Re-use in 1995, 2010 and 2013. Mr Teo is an active promoter of culture and arts in Singapore. In 1981, he was the founder member of the Singapore Cultural Foundation which has since come under the purview of the National Arts Council. Mr Teo was awarded %u201cPatron of Heritage%u201d by the National Heritage Board for 2008 and 2013. 1625TH ANNUAL REPORT | 2023 - 2024