ARA Asset Management Limited (“ARA”) is committed to ensuring that high standards of corporate governance are practised throughout the Group and in all our business activities. We believe that sound corporate governance policies and practices are the foundation for a trusted, successful and respected business organization. As we work towards our long term strategic objectives, we seek to observe both the substance and spirit of our corporate governance standards, while bearing in mind the Group’s specific business needs and interests of our stakeholders.

ARA was conferred the prestigious Best Managed Board (Gold) Award at the Singapore Corporate Awards 2012 for companies with S$300 million to less than S$1 billion in market capitalization. This award was organized by The Business Times and supported by the Singapore Exchange, and it seeks to recognize excellence in corporate governance and shareholder communication amongst SGX-listed companies. In particular, the Best Managed Board Award assesses companies in key areas such as corporate transparency, financial governance as well as board composition and accountability.

ARA stood out for its well-rounded Board of Directors, for its strong, independent element and broad range of commercial experience. Most significantly, ARA has demonstrated a commitment in observing the substance and spirit of the Code of Corporate Governance.

In demonstrating ARA’s commitment to uphold the highest standards of corporate governance, the Annual Report 2012 has included a Report on Corporate Governance that describes ARA’s corporate governance practices in complying with the Code of Corporate Governance. In addition, the following sections highlight ARA’s business policies and procedures to promote certain coherent behavior expected from our senior management, internal staff, business partners and other relevant external parties.