114 UNITED HAMPSHIRE US REIT Corporate Governance The Manager discharges its responsibility for the benefit of the Unitholders in accordance with all applicable laws and regulations, including the applicable provisions of the SFA, the Listing Manual of the SGX-ST (the “Listing Manual”), the Code on Collective Investment Schemes issued by the MAS (the “CIS Code”), including Appendix 6 of the CIS Code (the “Property Funds Appendix”), the Trust Deed, the tax rulings issued by the Inland Revenue Authority of Singapore on the taxation of UHREIT and the Unitholders as well as other applicable guidelines prescribed by the SGX-ST, the MAS or other relevant authorities and applicable laws. BOARD MATTERS THE BOARD’S CONDUCTS OF ITS AFFAIRS Principle 1: The company is headed by an effective Board which is collectively responsible and works with Management for the long-term success of the company. The Manager is headed by the Board which is responsible for the overall management of the Manager and has general powers of management over the assets and liabilities of UHREIT. The Board endeavours to strike a reasonable balance between striving for the highest standard of corporate governance, setting the strategy and engaging in policymaking. The principal roles and responsibilities of the Board, amongst others are: • providing leadership and guiding the corporate strategy, policies and directions of the Manager; • holding Management accountable for performance and ensuring that Management discharges its responsibility to provide business leadership and demonstrates the highest quality of management skills with integrity and entreprise; • overseeing the proper conduct of the Manager; • ensuring measures relating to corporate governance, financial regulations and other required policies are in place and enforced; • ensuring that the necessary financial and human resources are in place for the Manager to meet its objectives; • establishing a framework of prudent and effective controls which enables risks to be assessed and managed, including • safeguarding the interests of the Unitholders and its assets; • identifying the key stakeholder groups and recognising that their perceptions affect the reputation of UHREIT, and ensuring transparency and accountability to key stakeholder groups; • setting the Manager’s values and standards (including ethical standards), and ensuring that obligations to Unitholders and other stakeholders are understood and met; and • considering sustainability issues (including environmental and social factors) as part of the Manager’s overall strategy. The Board recognises that Directors are fiduciaries who should act objectively in the best interests of UHREIT and the Manager and hold Management accountable for performance. The Board in discharging its responsibilities, sets the appropriate tone-fromthe-top and desired organisational culture via a Code of Conduct with clear policies and procedures, ensuring proper accountability within the Manager. The Manager requires its Directors to disclose their interests in transactions and any conflicts of interests. Where a Director faces a conflict of interest, he or she will recuse him or herself from the discussions and decisions involving the issues of conflict. The Board is satisfied that there were no conflicts of interest issues faced by the Directors in FY2025.
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