Response to SGX Queries::

Issuer & Securities

Issuer/ Manager
SINARMAS LAND LIMITED
Securities
SINARMAS LAND LIMITED - SG1E97853881 - A26
Stapled Security
No

Announcement Details

Announcement Title
Response to SGX Queries
Date &Time of Broadcast
23-Apr-2015 19:15:59
Status
New
Supplementary Title
On Annual Reports
Announcement Reference
SG150423OTHRO8WC
Submitted By (Co./ Ind. Name)
Kimberley Lye Chor Mei
Designation
Company Secretary
Description (Please provide a detailed description of the change in the box below)
The Board of Directors ("Board") of Sinarmas Land Limited (the "Company") sets out its response to the query from the Singapore Exchange Securities Trading Limited on 22 April 2015 in relation to the Company's Annual Report for the financial year ended 31 December 2014 ("FY2014"), as follows:-

Query:

As required by Rule 1207(12) of the Listing Manual, please make disclosures as recommended in paragraph 9.4 of the Code of Corporate Governance 2012 (the "Code") or otherwise explain the reason(s) for the deviation from the following Code recommendations. We note that the Company had not disclosed the remuneration of employees who are immediate family members of a director or the CEO and whose remuneration exceeds S$50,000 during the year in incremental bands of S$50,000 on a named basis. Please explain the deviation from the recommendation.

Response:

Guideline 9.4 of the Code of Corporate Governance 2012 ("Code") recommends disclosing details of the remuneration of employees who are immediate family members of a Director or the Chief Executive Officer, and whose remuneration exceeds S$50,000 during the year, on a named basis, stating the relationship and in bands of S$50,000.

The Remuneration Committee and the Board, having considered the above recommendations, decided not to disclose to the full extent as recommended by the Code, in view of the confidential nature of employee remuneration and the sensitiveness of such information. However, in recognition of the Code's recommendations for greater disclosure, the Remuneration Committee and the Board have disclosed the number of relatives whose remuneration exceeds S$50,000 in FY2014, their relationship, and furnished their remuneration in bands of S$250,000 with a breakdown of fixed and variable portion in the Annual Report.

By Order of the Board
SINARMAS LAND LIMITED

Robin Ng Cheng Jiet
Director
23 April 2015