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10%

15%

10%

25%

40%

###

ACMF ASEAN CORPORATE GOVERNA

The Scorecard covers the following ve areas of the OECD Princi

A. Rights of sha!ho"!s

$. E&ita'"! t!at(!)t of sha!ho"!s

C. Ro"! of sta*!ho"!s

D. Dis+"os&! a) ta)s,a!)+-

E. R!s,o)si'i"iti!s of th! 'oa

The weightage allocated per Section in Level 1 is as below:

A. Rights of sha!ho"!s

$. E&ita'"! t!at(!)t of

C. Ro"! of Sta*!ho"!s

D. Dis+"os&! a) Ta)s,a!)+-

E. R!s,o)si'i"iti!s of th! $oa

Tota" !ightag! of S!+tio)s i)

/!!" 1

!"s to th! ASEAN CG

!+a

!" 2

Fi! (ao s!+tio)s that +o!s,o) to th!

OECD Pi)+i,"!s3

Pat A3 Right of Sha!ho"!s 26

Pat $3 E&ita'"! T!at(!)t 176 Pat C3 Ro"! of Sta*!ho"

Pat D3 Dis+"os&! 8 Ta)s,a!)+- 426

Pat E3 R!s,o)si'i"iti!s of th! $oa 796

Tota" )o of it!(s: !s+i,tos 1;56

To aitio)a" s!+tio)s

$o)&s 8 P!)a"t-

$o)&s it!(s fo +o(,a)i!s that go

'!-o) (i)i(&( sta)as 116

P!)a"t- it!(s fo +o(,a)i!s ith

,oo ,a+ti+!s 2

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NCE SCORECARD

ples:

!s 216

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ACMF ASEAN CORPORATE GOVERNANCE SC

Pat E3 R!s,o)si'i"iti!s of th! $oa

E R!s o)si'i"iti!s of th! $oaE.1 C"!a"- !=)! 'oa !s,o)si'i"iti!s a) +o,oat!

go!)a)+! ,o"i+-

E.1.1re the roles and responsibilities of the board of

directors!co""issioners clearl# stated$

E.1.%re the t#pes of decisions re&'iring board of directors!co""issioners(approval disclosed$

E.1.)Does the co"pan# disclose its corporate governance polic# ! boardcharter$

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RECARD

G&ii) R!f!!)+!

OECD PR>NC>P/E V>3 Th! R!s,o)si'i"iti!s of th! $oa*D+ The board sho'ld f'll certain ,e# f'nctions- incl'ding:1. eviewing and g'iding corporate strateg#- "a/or plans of action-ris, polic#- ann'al b'dgets and b'siness plans0 setting perfor"anceob/ectives0 "onitoring i"ple"entation and corporate perfor"ance0and overseeing "a/or capital ependit'res- ac&'isitions anddivestit'res.%. 2onitoring the e3ectiveness of the co"pan#4s governancepractices and "a,ing changes as needed.). Selecting- co"pensating- "onitoring and- when necessar#-replacing ,e# eec'tives and overseeing s'ccession planning.5. ligning ,e# eec'tive and board re"'neration with the longerter" interests of the co"pan# and its shareholders.

6. Ens'ring a for"al and transparent board no"ination and electionprocess.7. 2onitoring and "anaging potential con8icts of interest of"anage"ent- board "e"bers and shareholders- incl'ding "is'se ofcorporate assets and ab'se in related part# transactions.9. Ens'ring the integrit# of the corporation4s acco'nting andnancial reporting s#ste"s- incl'ding the independent a'dit- andthat appropriate s#ste"s of control are in place- in partic'lar-s#ste"s for ris, "anage"ent- nancial and operational control- andco"pliance with the law and relevant standards.. Overseeing the process of disclos're and co""'nications.

OECD PR>NC>P/E V> D6

OECD PR>NC>P/E V3 Dis+"os&! a) Ta)s,a!)+-*+ Disclos're sho'ld incl'de- b't not be li"ited to- "aterialinfor"ation on:. ;overnance str'ct'res and policies- in partic'lar- the content of

an# corporate governance code or polic# and the process b# which itis i"ple"ented.

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Analisis Nilai

YES 1

YES 1

BOC dan BOD Charter Tahun 2014 YES 1

YES, NO,N/A

Pada BOC dan BOD Charter, di jelaskan ada Chater !!! "en#enaiduties, res$nsi%ilities, and auth$rities&

Pada Annual 'e$rt Tahun 2014, dijelaskan hal(hal )an# harusdisetujui $leh BOD dan BOC&

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C* PT ANTA+

Are the roles and responsibilities of the board ofdirectors/commissioners clearly stated?

=ODclearl# states onCharter whichhas beenp'blished onwebsite andnn'al eport.

Are the types of decisions requiring board ofdirectors/commissioners' approval disclosed?

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a. =OC Charter:http:!!www.anta".co"!i"ages!stories!/o

a. nn'al eport #ear %A15 page %6b. ?T2(s rticle

=OC Charter:http:!!www.anta".co"!i"ages!stories!/oge
http://www.antam.com/http://www.antam.com/http://www.antam.com/http://www.antam.com/http://www.antam.com/http://www.antam.com/

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E.2 Co! of !thi+s o +o)&+t

E.%.1 Does the co"pan# have a code of ethics or cond'ct$

E.%.% re the details of the code of ethics or cond'ct disclosed$

E.%.)Does the co"pan# disclose that all directors!co""issioners- senior"anage"ent and e"plo#ees are re&'ired to co"pl# with the code$

E.%.5Does the co"pan# disclose how it i"ple"ents and "onitorsco"pliance with the code of ethics or cond'ct$

E.< Co,oat! Visio):Missio)

E.).1Does the board of directors!co""issioners periodicall# review andapprove the vision and "ission and has done so at least once d'ringthe last ve #ears$

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RECARD

G&ii)g R!f!!)+!

OECD PR>NC>P/E V>

C6 Th! 'oa sho&" a,,"- high !thi+a" sta)as. >t sho&"ta*! i)to a++o&)t th! i)t!!sts of sta*!ho"!s.The board has a ,e# role in setting the ethical tone of a co"pan#-not onl# b# its own actions- b't also in appointing and overseeing,e# eec'tives and conse&'entl# the "anage"ent in general. ighethical standards are in the long ter" interests of the co"pan# as a"eans to "a,e it credible and tr'stworth#- not onl# in da#BtoBda#operations b't also with respect to longer ter" co""it"ents. To"a,e the ob/ectives of the board clear and operational- "an#co"panies have fo'nd it 'sef'l to develop co"pan# codes ofcond'ct based on- inter alia- professional standards and so"eti"esbroader codes of behavio'r. The latter "ight incl'de a vol'ntar#co""it"ent b# the co"pan# *incl'ding its s'bsidiaries+ to co"pl#

with the OECD ;'idelines for 2'ltinational Enterprises which re8ectall fo'r principles contained in the LO Declaration on F'nda"entalLabo'r ights.Co"pan#Bwide codes serve as a standard for cond'ct b# both theboard and ,e# eec'tives- setting the fra"ewor, for the eercise of/'dge"ent in dealing with var#ing and often con8ictingconstit'encies. t a "ini"'"- the ethical code sho'ld set clearli"its on the p'rs'it of private interests- incl'ding dealings in theshares of the co"pan#. n overall fra"ewor, for ethical cond'ctgoes be#ond co"pliance with the law- which sho'ld alwa#s be af'nda"ental re&'ire"ent.

G&ii)g R!f!!)+!

Ghile not eplicitl# stated in "ost codes of corporate governance-this is consistent with "ost codes specif#ing the roles of the boardas incl'ding setting the direction and providing strategic leadership.

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Analisis Nilai

Yes 1

Yes 1

Yes 1

Yes 1

Yes 1

YES, NO,N/A

PT& ANTA+ "e"iliki Standar Etika Perusahaan C$de $- C$ndu.t

Edisi 201

Di e%site dan annual re$rt PT&ANTA+ dijelaskan sertadi.antu"kan link "en#enai .$de $- .$ndu.t PT&ANTA+&

PT&ANTA+ "enjelaskan di 1& dan 1&3 Standar Etika PerusahaanC$de $- C$ndu.t %aha seluruh insan PT&ANTA+ harus"e"atuhi Standar Etika Perusahaan& Selain itu, dijelaskan ula di

Annual 'e$rt PT& ANTA+ hal 21(220&

Pada Annual 'e$rt PT&ANTA+ 2014 hal 21(220, dijelaskani"le"entasi dan sanksi dari dari C$de $- C$ndu.t&

Di Annual 'e$rt PT& ANTA+ 2014 hal 15(20 dijelaskan %ahaPT&ANTA+ "ere6ie 6isi dan "isi se.ara %erkala dan disetujui$leh BOC&

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C* PT ANTA+

Are the details of the code of ethics or conduct disclosed?

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a. Code of Cond'ct on ?T24s website:http:!!www.anta

a. Code of Cond'ct on ?T24s website:http:!!www.anta

?T24s website:a. Code of Cond'ct on ?T24s websit

?T24s website:http:!!www.anta".co "!inde.php$opti
http://www.antam.com/http://www.antam.com/http://www.antam.com/http://www.antam.co/http://www.antam.co/http://www.antam.com/http://www.antam.com/http://www.antam.com/

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E.4 $oa St&+t&! 8 Co(,ositio)

E.5.1Does the board of directors! co""issioners co"prise at least ve"e"bers and no "ore than 1% "e"bers$*i.e.- between 6 B 1% "e"bers+

E.5.%Do independent- nonBeec'tive directors!co""issioners n'"ber atleast three and "a,e 'p "ore than 6AI of the board ofdirectors!co""issioners$

E.5.)Does the co"pan# provide a denition of independence in its nn'aleport$

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E.5.5re the independent directors!co""issioners independent of"anage"ent and "a/or! s'bstantial shareholders$

E.5.6Does the co"pan# have a ter" li"it of nine #ears or less for itsindependent directors!co""issioners$

E.5.7as the co"pan# set a li"it of ve board seats in p'blicl#Blistedco"panies that an individ'al director!co""issioner "a# hold

si"'ltaneo'sl#$

E.5.9Does the co"pan# have an# independent directors!co""issionerswho serve on "ore than ve boards of p'blicl#Blisted co"panies$

E.5.Does the co"pan# have an# eec'tive directors who serve on "orethan two boards of listed co"panies o'tside of the gro'p$

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RECARD

G&ii)g R!f!!)+!

?@ Co! $.1 S&,,oti)g Pi)+i,"! stat!s3The board sho'ld be of s'Jcient siKe that the re&'ire"ents of theb'siness can be "et and changes to the board(s co"position andthat of its co""ittees can be "anaged witho't 'nd'e disr'ption-and sho'ld not be so large as to be 'nwield#. 2ost codes ofcorporate governance specif# that the board sho'ld be ofappropriate siKe b't sho'ld not be too large.

OECD PR>NC>P/E V> E6n order to eercise its d'ties of "onitoring "anagerialperfor"ance- preventing con8icts of interest and balancingco"peting de"ands on the corporation- it is essential that the boardis able to eercise ob/ective /'dge"ent. n the rst instance this will"ean independence and ob/ectivit# with respect to "anage"ent

with i"portant i"plications for the co"position and str'ct're of theboard. =oard independence in these circ'"stances 's'all# re&'iresthat a s'Jcient n'"ber of board "e"bers will need to beindependent of "anage"ent. The S Code reco""ends at least a"a/orit# of independent directors- while the MN Code reco""endsat least half of the board- ecl'ding the Chair"an- be independentdirectors. The "ini"'" of three independent directors is to ens'rethat co"panies with s"all boards have eno'gh independentdirectors *note that stoc, echange r'les often re&'ire at least twoindependent directors+.

OECD PR>NC>P/E V>3*E+ The board sho'ld be able to eercise ob/ective independent

/'dge"ent on corporate a3airs.

n dening independent "e"bers of the board- so"e principles ofcorporate governance have specied &'ite detailed pres'"ptionsfor nonBindependence which are fre&'entl# re8ected in listingre&'ire"ents. Ghile establishing necessar# conditions- s'chnegative4 criteria dening when an individ'al is not regarded asindependent can 'sef'll# be co"ple"ented b# positive4 ea"plesof &'alities that will increase the probabilit# of e3ectiveindependence.

ndependent board "e"bers can contrib'te signicantl# to thedecisionB"a,ing of the board. The# can bring an ob/ective view tothe eval'ation of the perfor"ance of the board and "anage"ent.

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OECD PR>NC>P/E V> E6n order to eercise its d'ties of "onitoring "anagerialperfor"ance- preventing con8icts of interest and balancingco"peting de"ands on the corporation- it is essential that the boardis able to eercise ob/ective /'dge"ent. n the rst instance this will"ean independence and ob/ectivit# with respect to "anage"entwith i"portant i"plications for the co"position and str'ct're of theboard. =oard independence in these circ'"stances 's'all# re&'ires

that a s'Jcient n'"ber of board "e"bers will need to beindependent of "anage"ent.

The variet# of board str'ct'res- ownership patterns and practices indi3erent co'ntries will th's re&'ire di3erent approaches to the iss'eof board ob/ectivit#. n "an# instances ob/ectivit# re&'ires that as'Jcient n'"ber of board "e"bers not be e"plo#ed b# theco"pan# or its aJliates and not be closel# related to the co"pan#or its "anage"ent thro'gh signicant econo"ic- fa"il# or otherties. This does not prevent shareholders fro" being board "e"bers.n others- independence fro" controlling shareholders or anothercontrolling bod# will need to be e"phasised- in partic'lar if the

?@ CODE ?NE 201063?onBeec'tive directors sho'ld be appointed for specied ter"ss'b/ect to reBelection and to stat'tor# provisions relating to there"oval of a director. n# ter" be#ond si #ears for a nonBeec'tivedirector sho'ld be s'b/ect to partic'larl# rigoro's review- and sho'ldta,e into acco'nt the need for progressive refreshing of the boardand to s'ccession for appoint"ents to the board and to senior"anage"ent- so as to "aintain an appropriate balance of s,ills andeperience within the co"pan# and on the board.

OECD PR>NC>P/E V> E6*)+ =oard "e"bers sho'ld be able to co""it the"selves e3ectivel#to their responsibilities.

Service on too "an# boards can interfere with the perfor"ance ofboard "e"bers. Co"panies "a# wish to consider whether "'ltipleboard "e"berships b# the sa"e person are co"patible withe3ective board perfor"ance and disclose the infor"ation toshareholders.

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Analisis Nilai

Dala" Annual 'e$rt 2014, BOC PT& ANTA+ ada 9 $ran#& Yes 1

N$ 0

YES, NO,N/A

Dala" Annual 'e$rt 2014 hal 9(, :$"isaris indeenden%erju"lah 2 $ran# dari t$tal k$"isaris 9 $ran# 33,3;

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Dijelaskan ada Annual 'e$rt 2014 PT& ANTA+ hal 292& Yes 1

N$ 1

N$ 1

N$ 1

PT& ANTA+ tidak "e"er%$lehkan BOC untuk "e"an#ku ja%atanan##$ta direksi ada B

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C* PT ANTA+

Do independent directors/commissioners mae up at least5!" of the board directors/commissioner?

?! =OC!ndependent Co""issionersare appointed atthe ;2OS b# theSeri DwiwarnaShareholder as

controllingshareholder.

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Are the independent directors/independent ofmanagement and ma#or/substantial shareholders?

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a. ?T24s website:http:!!www.anta".co"!inde.php$o

nn'al eport #ear %A15 page %B9 *Prole of =OC+-11B 1%) *Prole of =OD+

http://www.antam.com/http://www.antam.com/

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E.5 S*i""s a) Co(,!t!)+i!s

E.6.1Does at least one nonBeec'tive director!co""issioner have priorwor,ing eperience in the "a/or ind'str# the co"pan# is operatingin$

E.6.%Does the co"pan# disclose a board of directors!co""issionersdiversit# polic#$

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RECARD

G&ii)g R!f!!)+!

>CGN3 2.4.< >)!,!)!)+!longside appropriate s,ill- co"petence and eperience- and theappropriate contet to enco'rage e3ective behavio'rs- one of theprincipal feat'res of a wellBgoverned corporation is the eercise b#its board of directors of independent /'dge"ent- "eaning

/'dge"ent in the best interests of the corporation- free of an#eternal in8'ence on an# individ'al director- or the board as awhole. n order to provide this independent /'dge"ent- and togenerate condence that independent /'dge"ent is being applied- aboard sho'ld incl'de a strong presence of independent nonBeec'tive directors with appropriate co"petencies incl'ding ,e#ind'str# sector ,nowledge and eperience. There sho'ld be at leasta "a/orit# of independent directors on each board.

ASB Co!eco""endation ).% Co"panies sho'ld establish a polic#concerning diversit# and disclose the polic# or a s'""ar# of thatpolic#. The polic# sho'ld incl'de re&'ire"ents for the board toestablish "eas'rable ob/ectives for achieving gender diversit# andfor the board to assess ann'all# both the ob/ectives and progress inachieving the".

eg'lations and codes of corporate governance in "an# developed"ar,ets now incorporate board diversit# as a consideration in boardco"position

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Analisis Nilai

Yes 1

N$ 0

YES, NO,N/A

Pada Annual 'e$rt 2014 PT&ANTA+ hal 2 Pr$-il BOC"enjelaskan %aha Salah satu n$n([email protected] .$""issi$ner PTAnta" T%k&, Dr& !r& '& Sukh)ar, "e"iliki en#ala"an kerja di

%idan# erta"%an#an&

PT&ANTA+ Perusahaan tidak "enentukan se.ara sesi-ik tar#et)an# harus di.aai dala" kera#a"an #ender di dala" strukturkean##$taan Dean :$"isaris Annual 'e$rt 2014 hal 9

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C* PT ANTA+

Does at least one non% e&ecutive director/commissionerhave prior woring e&perience and the ma#or industry thecompany is operating in?

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=OD!=OC Charter on website:http:!!www.anta".co"!ind

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E. $oa Chai(a)

E.7.1Do di3erent persons ass'"e the roles of chair"an and CEO$

E.7.% s the chair"an a nonBeec'tive director!co""issioner$

E.7.) s the chair"an an independent director!co""issioner$

E.7.5 s the chair"an the c'rrent or i""ediate past CEO$

E.7.6 re the role and responsibilities of the chair"an disclosed$

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RECARD

G&ii)g R!f!!)+!

OECD PR>NC>P/E V>*E+ The board sho'ld be able to eercise ob/ective independent

/'dge"ent on corporate a3airs.n a n'"ber of co'ntries with single tier board s#ste"s- theob/ectivit# of the board and its independence fro" "anage"ent"a# be strengthened b# the separation of the role of chief eec'tiveand chair"an- or- if these roles are co"bined- b# designating a leadnonB eec'tive director to convene or chair sessions of the o'tsidedirectors. Separation of the two posts "a# be regarded as goodpractice- as it can help to achieve an appropriate balance of power-increase acco'ntabilit# and i"prove the board4s capacit# fordecision "a,ing independent of "anage"ent.

?@ Co! &)! 20106.).1 The chair"an sho'ld on appoint"ent "eet the independencecriteria set o't in =.1.1 below. chief eec'tive sho'ld not go on tobe chair"an of the sa"e co"pan#. f- eceptionall#- a board decidesthat a chief eec'tive sho'ld beco"e chair"an- the board sho'ldcons'lt "a/or shareholders in advance and sho'ld set o't itsreasons to shareholders at the ti"e of the appoint"ent and in thenet nn'al eport.

ASB Co! R!+o((!)atio)

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Analisis Nilai

Yes 1

N$ 1

N$ 1

N$ 1

Yes 1

YES, NO,N/A

Dala" Annual 'e$rt 2014 PT& ANTA+, BOC dan BOD "e"ilikisususan na"a )an# %er%eda&

Dala" Annual 'e$rt 2014 hal 2, :$"isaris

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C* PT ANTA+

Do dierent persons assume the roles of chairman and()*?

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nn'al report #ear %A15 page %6

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E.7 $oa (!!ti)gs a) att!)a)+!

E.9.1re the board of directors!co""issioners "eetings sched'led beforeor at the beginning of the #ear$

E.9.%Does the board of directors!co""issioners "eet at least si ti"esper #ear$

E.9.)as each of the directors!co""issioners attended at least 96I of all

the board "eetings held d'ring the #ear$

E.9.5 Does the co"pan# re&'ire a "ini"'" &'or'" of at least %!) forboard decisions$

E.9.6Did the nonBeec'tive directors!co""issioners of the co"pan# "eetseparatel# at least once d'ring the #ear witho't an# eec'tivespresent$

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RECARD

G&ii)g R!f!!)+!

Sched'ling board "eetings before or at the beginning of the #earwo'ld allow directors to plan ahead to attend s'ch "eetings-thereb# helping to "ai"iKe participation- especiall# as nonBeec'tive directors often have other co""it"ents. dditional adhoc "eetings can alwa#s be sched'led if and when necessar#. t isco""on practice for boards in developed "ar,ets to sched'le"eetings in this wa#.

OR/D$AN@ PR>NC>P/E *..%5+ Does the board "eet at least si ti"es per #ear$

>NDO SCORECARDE.1A. ow "an# "eetings were held in the past #ear$f the board "et "ore than si ti"es- the r" earns a (

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Analisis NilaiYES, NO,N/A

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C* PT ANTA+

Are the board of directors/commissioners meetingsscheduled before or at the beginning of the year?

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nn'al eport #ear %A15 page %

BDetails of =OC 2eeting:nn'al eport #ear %A15 page %79BDetails of =OD 2eeting:nn'al eport #ear %A15 page %

rticle of ssociation available on website:http:!!www.a

rticle of ssociation available on website:http:!!www.a
http://www.antam.com/http://www.antam.com/http://www.antam.com/http://www.antam.com/

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E.; Oi!)tatio) Poga((! fo N! Di!+tos

E..1Does the co"pan# have orientation progra""es for newdirectors!co""issioners$

E.9 Di!+to Tai)i)g

E..1Does the co"pan# have a polic# that enco'ragesdirectors!co""issioners to attend onBgoing or contin'o'sprofessional ed'cation progra""es$

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RECARD

G&ii)g R!f!!)+!

This ite" is in "ost codes of corporate governance.

G&ii)g R!f!!)+!

OECD PR>NC>P/E V> E6*)+ =oard "e"bers sho'ld be able to co""it the"selves e3ectivel#to their responsibilities.

n order to i"prove board practices and the perfor"ance of its"e"bers- an increasing n'"ber of /'risdictions are nowenco'raging co"panies to engage in board training and vol'ntar#selfBeval'ation that "eets the needs of the individ'al co"pan#. This"ight incl'de that board "e"bers ac&'ire appropriate s,ills 'ponappoint"ent- and thereafter re"ain abreast of relevant new laws-reg'lations- and changing co""ercial ris,s thro'gh inBho'setraining and eternal co'rses.

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C* PT ANTA+

Does the company have orientation programmes for newdirectors/commissioners?

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RECARD

G&ii)g R!f!!)+!

OECD PR>NC>P/E V>*F+ n order to f'll their responsibilities- board "e"bers sho'ldhave access to acc'rate- relevant and ti"el# infor"ation.

=oard "e"bers re&'ire relevant infor"ation on a ti"el# basis inorder to s'pport their decisionB"a,ing. ?onBeec'tive board"e"bers do not t#picall# have the sa"e access to infor"ation as,e# "anagers within the co"pan#. The contrib'tions of nonBeec'tive board "e"bers to the co"pan# can be enhanced b#providing access to certain ,e# "anagers within the co"pan# s'chas- for ea"ple- the co"pan# secretar# and the internal a'ditor-and reco'rse to independent eternal advice at the epense of theco"pan#. n order to f'll their responsibilities- board "e"berssho'ld ens're that the# obtain acc'rate- relevant and ti"el#infor"ation.

OR/D$AN@ PR>NC>P/E *.F.%+ Does s'ch infor"ation need to be provided to the board atleast ve b'siness da#s in advance of the board "eeting$

OECD PR>NC>P/E V> F6>CSA G&ia)+! o) th! Co,oat! Go!)a)+! Ro"! of th!Co(,a)- S!+!ta-

OR/D$AN@ PR>NC>P/E *.D.%.1%+ Do co"pan# boards have a professional and &'aliedco"pan# secretar#$

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C* PT ANTA+

Are board papers for board of directors/commissionersmeetings provided to the board at least $ve business daysin advance of the board meeting?

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nn'al eport #ear %A15 page )%%

nn'al eport #ear %A15- )%%

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E.11 No(i)ati)g Co((itt!!

E.11.1 Does the co"pan# have a ?o"inating Co""ittee *?C+$

E.11.%Does the ?o"inating Co""ittee co"prise of a "a/orit# ofindependent directors!co""issioners$

E.11.)

s the chair"an of the ?o"inating Co""ittee an independentdirector!co""issioner$

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E.11.5 Does the co"pan# disclose the ter"s of reference! governancestr'ct're!charter of the ?o"inating Co""ittee$

E.11.6Does the nn'al eport disclose the n'"ber of ?o"inatingCo""ittee "eetings held$

E.11.7 Did the ?o"inating Co""ittee "eet at least twice d'ring the #ear$

E.11.9s the attendance of "e"bers at ?o"inating Co""ittee "eetingsdisclosed$

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RECARD

G&ii)g R!f!!)+!

OECD PR>NC>P/E >> C6NC>P/E V> E616 $oas sho&" +o)si! assig)i)g a s&+i!)t )&('! of)o) !!+&ti! 'oa (!('!s +a,a'"! of !!+isi)gi)!,!)!)t &g!(!)t to tas*s h!! th!! is a ,ot!)tia"fo +o)Hi+t of i)t!!st. Ea(,"!s of s&+h *!- !s,o)si'i"iti!s

a! !)s&i)g th! i)t!git- of =)a)+ia" a) )o)=)a)+ia"!,oti)g th! !i! of !"at! ,at- ta)sa+tio)s

This ite" is in "ost codes of corporate governance.

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OECD PR>NC>P/E V> E6*%+ Ghen co""ittees of the board are established- their "andate-co"position and wor,ing proced'res sho'ld be well dened anddisclosed b# the board.

Ghile the 'se of co""ittees "a# i"prove the wor, of the boardthe# "a# also raise &'estions abo't the collective responsibilit# ofthe board and of individ'al board "e"bers. n order to eval'ate the

"erits of board co""ittees it is therefore i"portant that the "ar,etreceives a f'll and clear pict're of their p'rpose- d'ties andco"position. S'ch infor"ation is partic'larl# i"portant in anincreasing n'"ber of /'risdictions where boards are establishingindependent 'dit Co""ittees with powers to oversee therelationship with the eternal a'ditor and to act in "an# casesindependentl#. Other s'ch co""ittees incl'de those dealing withno"ination and co"pensation. The acco'ntabilit# of the rest of theboard and the board as a whole sho'ld be clear. Disclos're sho'ldnot etend to co""ittees set 'p to deal with- for ea"ple-condential co""ercial transactions

;iven the responsibilities of the ?C spelt o't in codes of corporate

governance- the ?C is 'nli,el# to be f'llling these responsibilitiese3ectivel# if it is onl# "eeting once a #ear. ;loball#- the ?C of largeco"panies wo'ld "eet several ti"es a #ear.

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C* PT ANTA+

Does the company have a ominating (ommittee 0(1?

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Does the company disclose the terms ofreference/governance structure/charter of the ominating(ommittee?

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nn'al eport #ear %A15 page )11B)19Charter of ;C;B

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Charter of ;C;B? Co""ittee available on ?T24s we

Charter of ;C;B? Co""ittee Chapter abo't 2eetin

nn'al eport #ear %A15 page )16

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E.12 $oa A,,oi)t(!)ts a) R!E"!+tio)

E.1%.1Does the co"pan# disclose the criteria 'sed in selecting newdirectors!co""issioners$

E.1%.%Does the co"pan# disclose the process followed in appointing newdirectors!co""issioners$

E.1%.)re all the directors!co""issioners s'b/ect to reBelection at leastonce ever# three #ears$

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RECARD

G&ii)g R!f!!)+!

OECD PR>NC>P/E >> C6 D6*6+ Ens'ring a for"al and transparent board no"ination and electionprocess.

These Principles pro"ote an active role for shareholders in theno"ination and election of board "e"bers. The board has anessential role to pla# in ens'ring that this and other aspects of theno"inations and election process are respected. First- while act'alproced'res for no"ination "a# di3er a"ong co'ntries- the board ora no"ination co""ittee has a special responsibilit# to "a,e s'rethat established proced'res are transparent and respected. Second-the board has a ,e# role in identif#ing potential "e"bers for theboard with the appropriate ,nowledge- co"petencies and epertiseto co"ple"ent the eisting s,ills of the board and thereb# i"proveits val'eBadding potential for the co"pan#. n several co'ntriesthere are calls for an open search process etending to a broadrange of people.

>CGN3 2.9.1Election of directors: Directors sho'ld be conscio's of theiracco'ntabilit# to shareholders- and "an# /'risdictions have"echanis"s to ens're that this is in place on an ongoing basis.

There are so"e "ar,ets however where s'ch acco'ntabilit# is lessapparent and in these each director sho'ld stand for election on anann'al basis. Elsewhere directors sho'ld stand for election at leastonce ever# three #ears- tho'gh the# sho'ld face eval'ation "orefre&'entl#.

OR/D$AN@ PR>NC>P/E *..1+ Can the reBelection of board "e"bers be staggered overti"e$ *Staggered boards are those where onl# a part of the board isreBelected at each election- e.g. onl# 1!) of directors are reBelected

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C* PT ANTA+

Does the company disclose the criteria used in selectingnew directors/commissioners?

?! 'thorit# of2inistr# of SOEas Series DwiwarnaShareholders*ControllingShareholders+

Does the company disclose the process followed inappointing new directors/commissioners?

?! 'thorit# of2inistr# of SOEas Series DwiwarnaShareholders

*ControllingShareholders+

Are all the directors/commissioners sub#ect to re%electionat least once every three years?


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E.1< CEO:E!+&ti! Ma)ag!(!)t A,,oi)t(!)ts a) P!fo(a)+!

E.1).1Does the co"pan# disclose how the board of directors!co""issionersplans for the s'ccession of the CEO!2anaging Director!President and,e# "anage"ent$

E.1).%Does the board of directors!co""issioners cond'ct an ann'alperfor"ance assess"ent of the CEO!2anaging Director!President$

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RECARD

G&ii)g R!f!!)+!

OECD PR>NC>P/E V> D6*)+ Selecting- co"pensating- "onitoring and- when necessar#-replacing ,e# eec'tives and overseeing s'ccession planning.

n two tier board s#ste"s the s'pervisor# board is also responsiblefor appointing the "anage"ent board which will nor"all# co"prise"ost of the ,e# eec'tives.

OECD PR>NC>P/E V> D6*%+. 2onitoring the e3ectiveness of the co"pan#4s governance

practices and "a,ing changes as needed.

2onitoring of governance b# the board also incl'des contin'o'sreview of the internal str'ct're of the co"pan# to ens're that thereare clear lines of acco'ntabilit# for "anage"ent thro'gho't theorganisation. n addition to re&'iring the "onitoring and disclos'reof corporate governance practices on a reg'lar basis- a n'"ber ofco'ntries have "oved to reco""end or indeed "andate selfBassess"ent b# boards of their perfor"ance as well as perfor"ancereviews of individ'al board "e"bers and the CEO!Chair"an.

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C* PT ANTA+

Does the company disclose how the board ofdirectors/commissioners plans for the succession of the()*/managing director/president and ey management?

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nn'al report #ear %A15 page 15B16

nn'al report #ear %A15 page %1B%%

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E.14 $oa A,,aisa"

E.15.1s an ann'al perfor"ance assess"ent cond'cted of the board ofdirectors!co""issioners$

E.15.%

Does the co"pan# disclose the process followed in cond'cting theboard assess"ent$

E.15.)Does the co"pan# disclose the criteria 'sed in the boardassess"ent$

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RECARD

G&ii)g R!f!!)+!

OECD PR>NC>P/E V> D6 26

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C* PT ANTA+

+s an annual performance assessment conducted of theboard of directors/commissioners?

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=OD!=OC Charter on website:http:!!www.anta".co"!inde.php$optionHco"@/ooget>tas,Hviewcategor#>catidH69>te"idH11A>langHen

chieve"ent of NP of the =OD on nn'al report #ear%A15 page %1B%%

chieve"ent of NP of the =OC on nn'al report #ear%A15 page %7B%9A

=OD!=OC Charter available on website:http:!!www.anta

chieve"ent of NP of the =OD on nn'al report #ear%A15 page %1B%%chieve"ent of NP of the =OC on nn'al report #ear%A15 page %7B%9A

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E.15 Di!+to A,,aisa"

E.16.1

s an ann'al perfor"ance assess"ent cond'cted of individ'aldirector!co""issioner$

E.16.%Does the co"pan# disclose the process followed in cond'cting thedirector!co""issioner assess"ent$

E.16.)Does the co"pan# disclose the criteria 'sed in thedirector!co""issioner assess"ent$

E.1 Co((itt!! A,,aisa"

E.17.1s an ann'al perfor"ance assess"ent cond'cted of the board ofdirectors!co""issioners co""ittees$

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RECARD

G&ii)g R!f!!)+!

OECD PR>NC>P/E V> D6 26

G&ii)g R!f!!)+!

?@ CODE ?NE 20106=.7 Eval'ation: The board sho'ld 'nderta,e a for"al and rigoro'sann'al eval'ation of its own perfor"ance and that of its co""itteesand individ'al directors.

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C* PT ANTA+

+s an annual performance assessment conducted ofindividual directors/commissioners?

?o

Does the company disclose the process followed inconducting the director/commissioner assessment?


Does the company disclose the criteria used in the

director/commissioner assessment?

?! 'thorit# of

2inistr# of SOEas Series DwiwarnaShareholders*ControllingShareholders+

+s an annual performance assessment conducted of theboard of directors/commissioners committees?

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Charter of ;C;B? Co""ittee- Charter of a'dit Co""it

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E.17 R!(&)!atio) Co((itt!!: Co(,!)satio) Co((itt!!

E.19.1 Does the co"pan# have a e"'neration Co""ittee$

E.19.%Does the e"'neration Co""ittee co"prise of a "a/orit# ofindependent directors!co""issioners$

E.19.)s the chair"an of the e"'neration Co""ittee an independentdirector!co""issioner$

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E.19.5Does the co"pan# disclose the ter"s of reference! governancestr'ct're! charter of the e"'neration Co""ittee$

E.19.6Does the nn'al eport disclose the n'"ber of e"'nerationCo""ittee "eetings held$

E.19.7Did the e"'neration Co""ittee "eet at least twice d'ring the#ear$

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E.19.9s the attendance of "e"bers at e"'neration Co""ittee "eetingsdisclosed$

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RECARD

G&ii)g R!f!!)+!

OECD PR>NC>P/E V> D6*5+ ligning ,e# eec'tive and board re"'neration with the longerter" interests of the co"pan# and its shareholders.

t is considered good practice in an increasing n'"ber of co'ntriesthat re"'neration polic# and e"plo#"ent contracts for board"e"bers and ,e# eec'tives be handled b# a special co""ittee ofthe board co"prising either wholl# or a "a/orit# of independentdirectors. There are also calls for a e"'neration Co""ittee thatecl'des eec'tives that serve on each other4s4 e"'nerationCo""ittees- which co'ld lead to con8icts of interest.

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OECD PR>NC>P/E V> E6*%+ Ghen co""ittees of the board are established- their "andate-

co"position and wor,ing proced'res sho'ld be well dened anddisclosed b# the board.

Ghile the 'se of co""ittees "a# i"prove the wor, of the boardthe# "a# also raise &'estions abo't the collective responsibilit# ofthe board and of individ'al board "e"bers. n order to eval'ate the"erits of board co""ittees it is therefore i"portant that the "ar,etreceives a f'll and clear pict're of their p'rpose- d'ties andco"position. S'ch infor"ation is partic'larl# i"portant in anincreasing n'"ber of /'risdictions where boards are establishingindependent 'dit Co""ittees with powers to oversee therelationship with the eternal a'ditor and to act in "an# casesindependentl#. Other s'ch co""ittees incl'de those dealing with

no"ination and co"pensation. The acco'ntabilit# of the rest of theboard and the board as a whole sho'ld be clear. Disclos're sho'ldnot etend to co""ittees set 'p to deal with- for ea"ple-condential co""ercial transactions

;iven the responsibilities of the e"'neration Co""ittee *C+which are spelt o't in codes of corporate governance- the C is'nli,el# to be f'llling these responsibilities e3ectivel# if it onl#"eets once a #ear. ;loball#- the C of large co"panies wo'ld "eetseveral ti"es a #ear.

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C* PT ANTA+

Does the company have a 3emuneration (ommittee?

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+s the company disclose the terms ofreference/governance structure/charter of the3emuneration (ommittee?

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+s the attendance of members at 3emuneration (ommitteemeetings disclosed?

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nn'al eport #ear %A15 page )11B)19Charter of ;C;B

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Charter of ;C;B? Co""ittee available on ?T24s we

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nn'al eport #ear %A15 page )16

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E.1; R!(&)!atio) Matt!s

E.1.1

Does the co"pan# disclose its re"'neration *fees- allowances-benetB inB,ind and other e"ol'"ents+ polic# *i.e. the 'se of shortter" and long ter" incentives and perfor"ance "eas'res+ for itseec'tive directors and CEO$

E.1.%s there disclos're of the fee str'ct're for nonBeec'tivedirectors!co""issioners$

E.1.)Do the shareholders or the =oard of Directors approve there"'neration of the eec'tive directors and!or the senior eec'tives$

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E.1.5Do independent directors!co""issioners receive options-perfor"ance shares or bon'ses$

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RECARD

G&ii)g R!f!!)+!

OECD PR>NC>P/E V> D6

*5+ ligning ,e# eec'tive and board re"'neration with the longerter" interests of the co"pan# and its shareholders.

n an increasing n'"ber of co'ntries it is regarded as good practicefor boards to develop and disclose a re"'neration polic# state"entcovering board "e"bers and ,e# eec'tives. S'ch polic#state"ents specif# the relationship between re"'neration andperfor"ance- and incl'de "eas'rable standards that e"phasise thelonger r'n interests of the co"pan# over short ter" considerations.Polic# state"ents generall# tend to set conditions for pa#"ents toboard "e"bers for etraBboard activities- s'ch as cons'lting. The#also often specif# ter"s to be observed b# board "e"bers and ,e#eec'tives abo't holding and trading the stoc, of the co"pan#- and

the proced'res to be followed in granting and reBpricing of options.n so"e co'ntries- polic# also covers the pa#"ents to be "adewhen ter"inating the contract of an eec'tive.

?@ CODE ?NE 20106

D.1.) Levels of re"'neration for nonBeec'tive directors sho'ldre8ect the ti"e co""it"ent and responsibilities of the role.

Disclos're of fee str'ct're for nonBeec'tive directors allowsshareholders to assess if these directors are re"'nerated in anappropriate "anner- for ea"ple- whether the# are paid for ta,ing

on additional responsibilities and contrib'tions- s'ch as chairingco""ittees.

OECD PR>NC>P/E V>. D.46The =oard sho'ld f'lll certain ,e# f'nctions incl'ding aligning ,e#eec'tive and board re"'neration with the longer ter" interests ofthe co"pan# and its shareholders.

>CGN 2.< D6 a) E6D. Selecting- re"'nerating- "onitoring and where necessar#replacing ,e# eec'tives and overseeing s'ccession planning.E. ligning ,e# eec'tives and =oard re"'neration with the longerter" interest of the co"pan# and its shareholders.

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?@ CODE ?NE 20106*D.1.)+ Levels of re"'neration for nonBeec'tive directors sho'ldre8ect the ti"e co""it"ent and responsibilities of the role.

e"'neration for nonBeec'tive directors sho'ld not incl'de shareoptions or other perfor"anceBrelated ele"ents. f- b# eception-options are granted- shareholder approval sho'ld be so'ght in

advance and an# shares ac&'ired b# eercise of the options sho'ldbe held 'ntil at least one #ear after the nonBeec'tive directorleaves the board. olding of share options co'ld be relevant to thedeter"ination of a nonBeec'tive director4s independence *as seto't in provision =.1.1+.

ASB CODE=o .%: ;'idelines for nonBeec'tive director re"'nerationCo"panies "a# nd it 'sef'l to consider the following whenconsidering nonBeec'tive director re"'neration:1. ?onBeec'tive directors sho'ld nor"all# be re"'nerated b#wa# of fees- in the for" of cash- noncash benets- s'perann'ationcontrib'tions or salar# sacrice into e&'it#0 the# sho'ld not nor"all#

participate in sche"es designed for the re"'neration of eec'tives.%. ?onBeec'tive directors sho'ld not receive options or bon'spa#"ents.). ?onBeec'tive directors sho'ld not be provided with retire"entbenets other than s'perann'ation.

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C* PT ANTA+

Does the company disclose its remuneration 0fees,

allowances, bene$t%in%ind and other emoluments1 policy0i4e4 the use of short term and long term incentives andperformance measures1 for its e&ecutive directors and()*?

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Do independent non%e&ecutive directors/commissionersreceive options, performance shares or bonuses?

?o ndependentCo""issioner of?T2 *2r.LaodeNa"al'ddin >2r. i,"ahanto'wa doesn4t

have an# shareof ?T2+List of ?'"ber of=OC!=OD Sharesavailable onnn'al eport#ear %A15.

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nn'al eport #ear %A15 page %)B%5

nn'al eport #ear %A15 page %91B%9% andpage %)B%5

a.?otice of ;2OS #ear %A15http:!!www.anta".co"!i"a

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nn'al eport #ear %A15 page %9 *for =OD+ and page%77 *=OC+

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E.19 A&it Co((itt!!

E.1.1 Does the co"pan# have an 'dit Co""ittee$

E.1.% Does the 'dit Co""ittee co"prise entirel# of nonBeec'tivedirectors!co""issioners with a "a/orit# of independent

directors!co""issioners$

E.1.)s the chair"an of the 'dit Co""ittee an independentdirector!co""issioner$

E.1.5Does the co"pan# disclose the ter"s of reference!governancestr'ct're!charter of the 'dit Co""ittee$

E.1.6Does the nn'al eport disclose the prole or &'alications of the

'dit Co""ittee "e"bers$

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E.1.7Does at least one of the independent directors!co""issioners of theco""ittee have acco'nting epertise *acco'nting &'alication oreperience+$

E.1.9Does the nn'al eport disclose the n'"ber of 'dit Co""ittee"eetings held$

E.1.

Did the 'dit Co""ittee "eet at least fo'r ti"es d'ring the #ear$

E.1.s the attendance of "e"bers at 'dit Co""ittee "eetingsdisclosed$

E.1.1ADoes the 'dit Co""ittee have pri"ar# responsibilit# forreco""endation on the appoint"ent- reBappoint"ent and re"oval of

the eternal a'ditor$

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RECARD

G&ii)g R!f!!)+!

OECD PR>NC>P/E V> E6

*1+ =oards sho'ld consider assigning a s'Jcient n'"ber of nonBeec'tive board "e"bers capable of eercising independent

/'dge"ent to tas,s where there is a potential for con8ict of interest.Ea"ples of s'ch ,e# responsibilities are ens'ring the integrit# ofnancial and nonBnancial reporting- the review of related part#transactions- no"ination of board "e"bers and ,e# eec'tives- andboard re"'neration.

OECD PR>NC>P/E V> E+

*%+ Ghen co""ittees of the board are established- their "andate-co"position and wor,ing proced'res sho'ld be well dened anddisclosed b# the board.

Ghile the 'se of co""ittees "a# i"prove the wor, of the boardthe# "a# also raise &'estions abo't the collective responsibilit# ofthe board and of individ'al board "e"bers. n order to eval'ate the"erits of board co""ittees it is therefore i"portant that the "ar,etreceives a f'll and clear pict're of their p'rpose- d'ties andco"position. S'ch infor"ation is partic'larl# i"portant in theincreasing n'"ber of /'risdictions where boards are establishingindependent 'dit Co""ittees with powers to oversee therelationship with the eternal a'ditor and to act in "an# cases

independentl#. Other s'ch co""ittees incl'de those dealing withno"ination and co"pensation. The acco'ntabilit# of the rest of theboard and the board as a whole sho'ld be clear. Disclos're sho'ldnot etend to co""ittees set 'p to deal with- for ea"ple-condential co""ercial transactions.

2ost codes specif# the need for acco'nting!nance epertise or

eperience.

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?@ CODE ?NE 20106C.).1. The board sho'ld satisf# itself that at least one "e"ber ofthe 'dit Co""ittee has recent and relevant nancial eperience.

s "an# of the ,e# responsibilities of the 'dit Co""ittee areacco'ntingBrelated- s'ch as oversight of nancial reporting anda'dits- it is i"portant to have so"eone specicall# with acco'ntingepertise- not /'st general nancial epertise.

OECD PR>NC>P/E V> E6 26

?@ CODE ?NE 20106C.).7 The 'dit Co""ittee sho'ld have pri"ar# responsibilit# for"a,ing a reco""endation on the appoint"ent- reappoint"ent andre"oval of the eternal a'ditor. f the board does not accept the'dit Co""ittee4s reco""endation- it sho'ld incl'de in the nn'aleport- and in an# papers reco""ending appoint"ent or reBappoint"ent- a state"ent fro" the 'dit Co""ittee eplaining the

reco""endation and sho'ld set o't reasons wh# the board hasta,en a di3erent position.

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C* PT ANTA+

+s the company have an Audit (ommittee?

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Does at least one of the independentdirectors/commissioners of the Audit (ommittee haveaccounting e&pertise 0accounting quali$cation ore&perience1?

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nn'al eport #ear %A15 page %B)A7Charter of 'dit

a. Prole of 'dit Co""ittee available on website:http:!!www.

Charter of 'dit Co""ittee available on ?T24s website:htt

nn'al eport #ear %A15 page )A)B)A5
http://www.antam.com/http://www.antam.com/ihttp://www.antam.com/ihttp://www.antam.com/ihttp://www.antam.com/ihttp://www.antam.com/

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Charter of 'dit Co""ittee available on ?T24s websi

Charter of 'dit Co""ittee available on ?T24s websi

nn'al eport #ear %A15 page )A5

Charter of 'dit Co""ittee page available on ?T24s
http://www.antam.com/http://www.antam.com/http://www.antam.com/http://www.antam.com/http://www.antam.com/http://www.antam.com/

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E.20 >)t!)a" A&it

E.%A.1 Does the co"pan# have a separate internal a'dit f'nction$

E.%A.%s the head of internal a'dit identied or- if o'tso'rced- is the na"eof the eternal r" disclosed$

E.%A.)Does the appoint"ent and re"oval of the internal a'ditor re&'ire theapproval of the 'dit Co""ittee$

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RECARD

G&ii)g R!f!!)+!

OECD PR>NC>P/E V> D6*9+ Ens'ring the integrit# of the corporation4s acco'nting andnancial reporting s#ste"s- incl'ding the independent a'dit- andthat appropriate s#ste"s of control are in place- in partic'lar-s#ste"s for ris, "anage"ent- nancial and operational control- andco"pliance with the law and relevant standards.

Ens'ring the integrit# of the essential reporting and "onitorings#ste"s will re&'ire the board to set and enforce clear lines ofresponsibilit# and acco'ntabilit# thro'gho't the organisation. Theboard will also need to ens're that there is appropriate oversight b#senior "anage"ent. One wa# of doing this is thro'gh an internala'dit s#ste" directl# reporting to the board.

Co"panies often disclose that the# have an internal a'dit b't- inpractice- it is not 'nco""on for it to eist "ore in for" than ins'bstance. For ea"ple- the inBho'se internal a'dit "a# beassigned to so"eone with other operational responsibilities. sinternal a'dit is 'nreg'lated- 'nli,e eternal a'dit- there are r"sproviding o'tso'rced internal a'dit services which are not properl#&'alied to do so. 2a,ing the identit# of the head of internal a'ditor the eternal service provider p'blic wo'ld provide so"e level ofsafeg'ard that the internal a'dit is s'bstantive.

OECD PR>NC>P/E V> D6 76n so"e /'risdictions it is considered good practice for the internala'ditors to report to an independent 'dit Co""ittee of the boardor an e&'ivalent bod# which is also responsible for "anaging therelationship with the eternal a'ditor- thereb# allowing acoordinated response b# the board.

OR/D$AN@ PR>NC>P/E *.D.9.+ Does the internal a'ditor have direct and 'nfetteredaccess to the board of directors and its independent 'ditCo""ittee$

ASB Pi)+i,"!s o) CGQUco"panies sho'ld consider a second reporting line fro" theinternal a'dit f'nction to the board or relevant co""ittee.R Mnderthe S Principles it is also reco""ended that the 'dit Co""ittee

have access to internal a'dit witho't the presence of "anage"ent-and that Qthe a'dit co""ittee sho'ld reco""end to the board theappoint"ent and dis"issal of a chief internal a'dit eec'tive.V

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C* PT ANTA+

Does the company have a separate internal auditfunction?

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nn'al report #ear %A15 page )%)B))7

nn'al report #ear %A15 page )%6

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E.21 Ris* O!sight

E.%1.1Does the co"pan# disclose the internal control proced'res!ris,"anage"ent s#ste"s it has in place$

E.%1.%

Does the nn'al eport disclose that the board ofdirectors!co""issioners has cond'cted a review of the co"pan#(s"aterial controls *incl'ding operational- nancial and co"pliancecontrols+ and ris, "anage"ent s#ste"s$

E.%1.) Does the co"pan# disclose how ,e# ris,s are "anaged$

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RECARD

G&ii)g R!f!!)+!

OECD PR>NC>P/E V>6 D6 76Ens'ring the integrit# of the corporation4s acco'nting and nancialreporting s#ste"s- incl'ding the independent a'dit- and thatappropriate s#ste"s of control are in place- in partic'lar- s#ste"sfor ris, "anage"ent- nancial and operational control- andco"pliance with the law and relevant standards.

?@ CODE ?NE 20106C.%.1 The board sho'ld- at least ann'all#- cond'ct a review of thee3ectiveness of the co"pan#4s ris, "anage"ent and internalcontrol s#ste"s and sho'ld report to shareholders that the# havedone so. The review sho'ld cover all "aterial controls- incl'dingnancial- operational and co"pliance controls.

OECD PR>NC>P/E V A6*7+ Foreseeable ris, factors.Disclos're of ris, is "ost e3ective when it is tailored to thepartic'lar ind'str# in &'estion. Disclos're abo't the s#ste" for"onitoring and "anaging ris, is increasingl# regarded as goodpractice.

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C* PT ANTA+

Does the company disclose the internal controlprocedures/ris management systems it has in place?

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nn'al report #ear %A15 page )%)B)55

nn'al report #ear %A15 page )5A *ris,assess"ent+- ))AB))6 *eval'ation of internal controland co"pliance- for the assess"ent of ;ood Corporate;overnance "ple"entation available on page )6B5AA

nn'al report #ear %A15 page )5%

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$o)&s

E R!s,o)si'i"iti!s of th! $oa

E.1 $oa Co(,!t!)+i!s a) Di!sit-

E.1.1*=+ Does the co"pan# have at least one fe"ale independentdirector!co""issioner$

E.2 No(i)ati)g Co((itt!!

E.%.1*=+Does the ?o"inating Co""ittee co"prise entirel# of independentdirectors!co""issioners$

E.< $oa A,,oi)t(!)ts a) R!E"!+tio)

E.).1*=+

Does the co"pan# co"pile a board prole when consideringcandidates to the board *i.e.- identif# the professional s,ills andpersonal characteristics present on the c'rrent board0 identif# the

"issing s,ills and characteristics0 and no"inate individ'als who co'ldll possible gaps+$

E.).%*=+ Does the co"pan# 'se professional search r"s or other eternalso'rces of candidates *s'ch as director databases set 'p b# directoror shareholder bodies+ when searching for candidates to the board ofdirectors!co""issioners$

E.4 $oa St&+t&! 8 Co(,ositio)

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E.5.1*=+as the co"pan# set a li"it of ve board seats in PLCs incl'ding its'nlisted s'bsidiaries$

E.5 $oa A,,aisa"

E.6.1*=+Does the co"pan# appoint an eternal cons'ltant to facilitate theboard assess"ent at least once ever# three #ears$

E. Ris* O!sight

E.7.1 *=+

Does the nn'al eport contain a state"ent fro" the board ofdirectors!co""issioners or 'dit Co""ittee co""enting on theade&'ac# of the co"pan#(s internal controls!ris, "anage"ents#ste"s$

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RECARD

G&ii)g R!f!!)+!

>CGN 2.4.1 S*i""s a) !,!i!)+!The board sho'ld consist of directors with the re&'isite range ofs,ills- co"petence- ,nowledge- eperience and approach- as well asa diversit# of perspectives- to set the contet for appropriate boardbehavio'rs and to enable it to discharge its d'ties andresponsibilities e3ectivel#.

G&ii)g R!f!!)+!

>CGN 2.4.4 Co(,ositio) of 'oa +o((itt!!sThe "e"bers of these ,e# board co""ittees sho'ld be solel# nonBeec'tive directors- and in the case of the a'dit and re"'nerationco""ittees- solel# independent directors. ll "e"bers of the

no"inations co""ittee sho'ld be independent fro" "anage"entand at least a "a/orit# sho'ld be independent fro" do"inantowners.

G&ii)g R!f!!)+!

ASB Co!Selection and appoint"ent process and reBelection of directorsW Disclos're of board selection processes Bco"panies are enco'raged to provide greater transparenc# of theprocesses which the board adopts in searching for and selecting newdirectors to the board and to report to shareholders on theprocesses.

S'ch reporting co'ld incl'de the following:X details as to whether the co"pan# develops a board s,ills "atriand 'ses this "atri to identif# an# gaps4 in the s,ills andeperience of the directors on the boardX the process b# which candidates are identied and selectedincl'ding whether professional inter"ediaries are 'sed to identif#and!or assess candidatesX the steps ta,en to ens're that a diverse range of candidates isconsideredX the factors ta,en into acco'nt in the selection process.

OR/D$AN@ PR>NC>P/E *..%1+ re boards ,nown to hire professional search r"s whenproposing candidates to the board$

G&ii)g R!f!!)+!

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G&ii)g R!f!!)+!

?@ CODE ?NE 20106=.7.% Eval'ation of the board of FTSE )6A co"panies sho'ld beeternall# facilitated at least ever# three #ears. state"ent sho'ldbe "ade available of whether an eternal facilitator has an# otherconnection with the co"pan#

G&ii)g R!f!!)+!OECD PR>NC>P/E V>6 D6*9+ Ens'ring the integrit# of the corporation4s acco'nting andnancial reporting s#ste"s- incl'ding the independent a'dit- andthat appropriate s#ste"s of control are in place- in partic'lar-s#ste"s for ris, "anage"ent- nancial and operational control- andco"pliance with the law and relevant standards.

n so"e /'risdictions it is considered good practice for the internala'ditors to report to an independent a'dit co""ittee of the boardor an e&'ivalent bod# which is also responsible for "anaging therelationship with the eternal a'ditor- thereb# allowing acoordinated response b# the board. t sho'ld also be regarded as

good practice for this co""ittee- or e&'ivalent bod#- to review andreport to the board the "ost critical acco'nting policies which arethe basis for nancial reports. owever- the board sho'ld retain nalresponsibilit# for ens'ring the integrit# of the reporting s#ste"s.So"e co'ntries have provided for the chair of the board to report onthe internal control process.

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P!)a"t-

E R!s,o)si'i"iti!s of th! $oa

E.1 Co(,"ia)+! ith "isti)g &"!s !g&"atio)s a) a,,"i+a'"! "as

E.1.1*P+s there an# evidence that the co"pan# has not co"plied with an#listing r'les and reg'lations over the past #ear apart fro" disclos'rer'les$

E.1.%*P+

ave there been an# instances where nonBeec'tive

directors!co""issioner have resigned and raised an# iss'es ofgovernanceBrelated concerns$

E.1.)*P+

ave there been "a/or corporate scandals that point to wea, board

of directors!co""issioners oversight$

E.2 $oa A

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E%.1*P+Does the Co"pan# have an# independent directors!co""issioners

who have served for "ore than nine #ears$

E%.%*P+Did the co"pan# fail to provide /'stication and obtain shareholder(sapproval for retaining the independent director*s+!co""issioner*s+be#ond nine #ears$

E%.)*P+Did the co"pan# fail to disclose the date of rst appoint"ent of eachindependent directors*s+!co""issioner*s+$

E%.5*P+Did the co"pan# fail to disclose the identit# of the independentdirector*s+!co""issioner*s+$

E.< Et!)a" A&it

E.).1*P+s an# of the directors or senior "anage"ent a for"er e"plo#ee orpartner of the c'rrent eternal a'ditor *in the past % #ears+$

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RECARD

G&ii)g R!f!!)+!

OECD Pi)+i,"! V> D6*9+ Ens'ring the integrit# of the corporation4s acco'nting andnancial reporting s#ste"s- incl'ding the independent a'dit- andthat appropriate s#ste"s of control are in place- in partic'lar-s#ste"s for ris, "anage"ent- nancial and operational control- andco"pliance with the law and relevant standards.

Co"panies are also well advised to set 'p internal progra""es andproced'res to pro"ote co"pliance with applicable laws- reg'lationsand standards- incl'ding stat'tes to cri"inalise briber# of foreignoJcials that are re&'ired to be enacted b# the OECD ntiBbriber#Convention and "eas'res designed to control other for"s of briber#and corr'ption. 2oreover- co"pliance "'st also relate to other lawsand reg'lations s'ch as those covering sec'rities- co"petition andwor, and safet# conditions. S'ch co"pliance progra""es will also'nderpin the co"pan#4s ethical code.

?@ CODE ?NE 20106.5.) Ghere directors have concerns which cannot be resolvedabo't the r'nning of the co"pan# or a proposed action- the# sho'ld

ens're that their concerns are recorded in the board "in'tes. Onresignation- a nonBeec'tive director sho'ld provide a writtenstate"ent to the chair"an- for circ'lation to the board- if the# havean# s'ch concerns.

OECD PR>NC>P/E V>.D.7. E)s&i)g th! i)t!git- of th!+o,oatio)Is a++o&)ti)g a) =)a)+ia" !,oti)g s-st!(si)+"&i)g th! i)!,!)!)t a&it a) that a,,o,iat!s-st!(s of +o)to" a! i) ,"a+! i) ,ati+&"a s-st!(s fois* (a)ag!(!)t =)a)+ia" a) o,!atio)a" +o)to" a)+o(,"ia)+! ith th! "a a) !"!a)t sta)as.

Ens'ring the integrit# of the essential reporting and "onitorings#ste"s will re&'ire the board to set and enforce clear lines ofresponsibilit# and acco'ntabilit# thro'gho't the organisation. Theboard will also need to ens're that there is appropriate oversight b#senior "anage"ent.

G&ii)g R!f!!)+!

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OECD Pi)+i,"! V*C+ n ann'al a'dit sho'ld be cond'cted b# an independent-co"petent and &'alied- a'ditor in order to provide an eternal andob/ective ass'rance to the board and shareholders that the nancialstate"ents fairl# represent the nancial position and perfor"ance ofthe co"pan# in all "aterial respects.Ea"ples of other provisions to 'nderpin a'ditor independenceincl'de- a total ban or severe li"itation on the nat're of nonBa'dit

wor, which can be 'nderta,en b# an a'ditor for their a'dit client-"andator# rotation of a'ditors *either partners or in so"e cases thea'dit partnership+- a te"porar# ban on the e"plo#"ent of an eBa'ditor b# the a'dited co"pan# and prohibiting a'ditors or theirdependents fro" having a nancial sta,e or "anage"ent role in theco"panies the# a'dit.

Ma"a-sia) Co! o) Co,oat! Go!)a)+!eco""endation ).): The board "'st /'stif# and see, shareholders(approval in the event it retains as an independent director- a personwho has served in that capacit# for "ore than nine #ears.

Si)ga,o! Co! of Co,oat! Go!)a)+!Paragraph %.5: The independence of an# director who has served onthe =oard be#ond nine #ears fro" the date of his rst appoint"entsho'ld be s'b/ect to partic'larl# rigoro's review. n doing so- the=oard sho'ld also ta,e into acco'nt the need for progressiverefreshing of the =oard. The =oard sho'ld also eplain wh# an# s'chdirector sho'ld be considered independent.

>CGN 2.4 Co(,ositio) a) st&+t&! of th! 'oaC;? %.5.1 S,ills and eperienceC;? %.5.) ndependence

G&ii)g R!f!!)+!

OECD Pi)+i,"! V*C+ n ann'al a'dit sho'ld be cond'cted b# an independent-co"petent and &'alied- a'ditor in order to provide an eternal andob/ective ass'rance to the board and shareholders that the nancialstate"ents fairl# represent the nancial position and perfor"ance of

the co"pan# in all "aterial respects.Ea"ples of other provisions to 'nderpin a'ditor independenceincl'de- a total ban or severe li"itation on the nat're of nonBa'ditwor, which can be 'nderta,en b# an a'ditor for their a'dit client-"andator# rotation of a'ditors *either partners or in so"e cases thea'dit partnership+- a te"porar# ban on the e"plo#"ent of an eBa'ditor b# the a'dited co"pan# and prohibiting a'ditors or theirdependents fro" having a nancial sta,e or "anage"ent role in theco"panies the# a'dit.

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