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46 LIPPO MALLS INDONESIA RETAIL TRUST ANNUAL REPORT 2013
The attendance at the Board and Audit Committee meetings held is set out below.
Board Meetings Audit Committee Meetings
Name of Directors / Audit Committee Members Attendance / No. of
meetings held
Attendance / No. of
meetings held
Mr Albert Saychuan Cheok 4/5 5/5
Ms Viven Gouw Sitiabudi 5/5 NA
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Mr Douglas Chew 4/5 NA
Mr Goh Tiam Lock 5/5 5/5
Mr Alvin Cheng Yu Dong(1) 3/3 NA
Mr Bunjamin J Mailool(2) 2/2 NA
(1) Mr Alvin Cheng was appointed as a Director with efect from 27 April 2013.
(2) Mr Bunjamin J Mailool resigned as a Director with efect from 27 April 2013.
INTERNAL AUDIT
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Committee. The Audit Committee is of the view that the internal auditors have adequate resources to perform their functions.
The Manager has put in place a system of internal controls of procedures and processes to safeguard LMIR Trust’s assets and
Unitholders’ interest, as well as to manage risks.
The Board believes that the internal control system adopted is adequate and appropriate delegation of authority has been provided
to management to facilitate operational efciency. The Board confrms that based on the work performed by the internal auditors and
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Trust’s internal controls, addressing fnancial, operational, compliance and information technology risks, are adequate and efective.
DEALINGS IN LMIR TRUST UNITS
The Board has adopted code of conduct to provide guidance to its directors or ofcers dealing in LMIR Trust’s units (“Units”). A
Director is required to give notice to the Manager of his/her acquisition of Units or changes in the number of Units he/she holds or
in which he/she has an interest, within two business days after such acquisition or occurrence.
In general, the Manager’s policy encourages directors and employees of the Manager to hold Units but prohibits them from dealing
in such Units:
1. during the period commencing one month before the public announcement of LMIR Trust’s full year results and (where
applicable) property valuation and two weeks before the public announcement of LMIR Trust’s quarterly results and ending
on the date of announcement of the relevant results or, as the case may be, property valuation; and
2. on short term considerations or at any time whilst in possession of price sensitive information.
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CORPORATE GOVERNANCE REPORT (CONT’D)