39
Food Empire Holdings Limited Annual Report 2014
CORPORATE GOVERNANCE
SUPPLEMENTARY INFORMATION FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2014 (SGX-ST
LISTING MANUAL REQUIREMENTS) (cont’d)
(iii) Risk Management Policies and Processes (cont’d)
Dependence on Key Personnel
The Executive Directors and the country/general managers in the Group’s key markets have contributed
significantly to the success of the Group. The loss of the services of any one of these key personnel without
adequate replacement will adversely affect the Group’s operations and financial performance.
The Group has implemented remuneration packages aimed at retaining existing personnel and rewards for key
management personnel who contribute to the success of the Group.
(iv) Interested Person Transactions
Interested person transactions (“
IPT
”) carried out during the financial year which falls under Chapter 9 of the SGX-
ST Listing Manual are as follows:-
Name of interested person
Aggregate value of all IPT during
the financial year under review
(excluding transactions less
than $100,000 and transactions
conducted under shareholder’s
mandate pursuant to Rule 920)
Aggregate value of all IPT
conducted under shareholder’s
mandate pursuant to Rule 920
(excluding transactions less than
$100,000)
2014
2013
2014
2013
US$’000
US$’000
US$’000
US$’000
Companies associated to Mr. Sudeep Nair (“Director”)
a) Simonelo Limited and its subsidiaries
- Rental expense paid
2,838
2,576
–
–
- Purchase of construction materials
–
1
–
–
- Purchase of property, plant and equipment
–
6
–
–
b) Triple Ace Ventures Limited and its subsidiaries
- Interest income received
–
30
–
–
- Rental expenses paid
–
111
–
–
Companies associated to Universal Integrated
Corporation Consumer Products Pte. Ltd. (“Controlling
Shareholder”):
a) UDI Marketing Sdn Bhd
- Sales of goods
1,676
1,188
–
–
b) United Trading (Shanghai) Co., Ltd
- Sales of goods
1,441
518
–
–
