115 ANNUAL REPORT 2025 Corporate Governance ROLE OF THE BOARD The Board has adopted a set of internal guidelines and protocols which sets out the levels of authorisation and financial authority limits. Key matters which are specifically reserved for approval by the Board include but are not limited to the following: • long term strategy and objectives of UHREIT, including investments and divestments, • annual budget and business plans for UHREIT and the Manager, • bank borrowings, • issuance of new units, • interest rates risk management and hedging, • distribution policy, • announcements and press releases, • key policies relating to UHREIT Appropriate delegation of authority and approval sub-limits are provided at the Management level to facilitate operational efficiency. The Board has approved a set of financial controls which sets out approval limits for operating expenditures, capital expenditures, procurements, general and administrative expenses and leases as well as arrangements in relation to cheque and contract signatories. COMPOSITION OF THE BOARD The Board is comprised of: • Mr Tan Tong Hai (Chairman and Independent Non-Executive Director (“NED”)) • Mr James E. Hanson II (Non-Independent Non-Executive Director) • Mr David Tuvia Goss (Non-Independent Non-Executive Director) • Mr Wee Teng Wen (Non-Independent Non-Executive Director) • Mr Chua Teck Huat Bill (Independent Non-Executive Director) • Ms Jaelle Ang Ker Tjia (Independent Non-Executive Director) Profiles of the Board and the diverse skills and experience they bring to UHREIT can be found between pages 20 to 23 of this Annual Report.
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