Board Diversity Policy

1.        Purpose

This Policy sets out the framework for promoting diversity on the Board of Directors (the “Board”) of Tuan Sing Holdings Limited (“TSH” or the “Company”).

2.        Policy

TSH recognises that diversity is an important attribute of a well-functioning and effective Board and is committed to promoting diversity on the Board. The Company believes that Board and workplace diversity, including gender, age, ethnicity and cultural background is a key contributor to the success of its business. The Board should comprise of members with a variety of skill sets, talents, industry and business experiences and professional qualifications.

The Nominating Committee (“NC”) who is responsible for reviewing and assessing the Board composition and making recommendations to the Board on the appointment of new directors, will also review the structure, size, balance, and diversity of the Board annually and recommend any proposed changes to the Board to implement this Policy.

The final decision on selection of directors will be based on merit measured against the objective criteria set by the Board and after giving due regard to the benefits of diversity and the overall balance and Board effectiveness.

3.        Setting Objectives

The NC will consider the relevant qualitative and quantitative objectives for promoting and achieving diversity on the Board and review them against the directors’ mix of skills, qualities and experiences that the Board requires to function competently and efficiently and make the relevant recommendations for consideration and approval by the Board.

The Board shall take into consideration the scope and nature of the Company’s operations and sustainability of the Group’s businesses when establishing the measurable objectives for achieving improvement in the diversity mix of the Board.

4.        Qualitative objectives, Skills diversity objectives and Gender diversity Objectives

(a) Qualitative objectives:

There shall be a balance of diverse attributes among the Board members to build a cohesive and effective Board.

(b) Skills diversity objectives:

The TSH Board’s Competency Matrix is set out below:

(i) Experience in public appointments.

(ii) Experience as director of listed company(ies).

(iii) Sector experience – knowledge of countries where the Company primarily operates.

(iv) Sector knowledge of Group’s principal business activities – construction / engineering / environmental services, hospitality, property (residential / commercial), retail, technology / electronics, trading / distribution.

(v) Functional experience – accounting / finance, business management, human resource, information technology, legal / regulatory, marketing / customers services, strategic planning.

(c) Gender diversity objectives:

(i) To have at least one (1) female director on the Board and at least one (1) female key management personnel.

(ii) To include at least one (1) female candidate in any search process for directors and key management personnel.

(iii) To endeavour to align with the target set by national diversity body (e.g. Council for Board Diversity) for female board representation as much as possible

5.         Implementation and Reporting

The NC may implement the following if required:

(a) Skills matrix to identify any gaps in the collective skills of the Board that should be addressed as part of the Company’s professional development initiatives for its directors or as part of its Board succession planning.

(b) Set key criterion for appointment: In addition to relevant experience and expertise, diversity shall be another key criterion in the search and appointment process for Board and key management personnel. Appointment to Board committees shall be according to the skill set need of and domain expertise of the relevant committee.

(c) Formal search and nomination process, including the use of search and recruitment firms or professional associations as appropriate, to widen the reach to other candidates outside the Board’s usual network.

6.         Review of the Policy

This policy will be reviewed regularly and updated  as required.