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LIPPO MALLS INDONESIA RETAIL TRUST
ANNUAL REPORT 2013
43
The composition of the Board is reviewed regularly to ensure adherence to the above principles.
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The Board comprises business leaders and professionals with accounting, property, retail, banking and fnance backgrounds. The
profles of the Directors are set out on pages 36 and 38 of this Annual Report.
Board Membership and Board Performance
As the Manager is not itself a listed entity, the Manager does not consider it necessary for the Board to establish a nominating
committee as it believes that the performance of the Manager, and hence, its Board, is refected in the long term success of LMIR
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The independence of each independent Director is reviewed upon appointment and reafrmed annually by the Board. The majority
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and objective perspective on issues that are brought before the Board. It also enables the Board to work with management through
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with clarity of roles and robust oversight as they deliberate on business activities of the Manager.
The Board has separate and independent access to senior management and the Company Secretary at all times and vice versa. The
Company Secretary attends to corporate secretarial administration matters and attends all Board meetings.
The Board also has access to independent professional advice where appropriate.
The remuneration of Directors and staf of the Manager is paid by the Manager and not LMIR Trust. It is hence not necessary for the
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The Manager believes that performance of the Board and individual board members would be better directed in providing proper
guidance, diligent oversight and able leadership and support to the Manager in the management of LMIR Trust assets under
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THE CHAIRMAN AND THE CHIEF EXECUTIVE OFFICER
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not related to each other.
The Chairman is responsible for the overall management of the Board as well as ensuring that members of the Board work together
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Trust. He works closely with the Board to implement the policies set by the Board to realise the Manager’s vision.
CORPORATE GOVERNANCE REPORT (CONT’D)
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