Governance and Risk Management - Stamford Tech-Infrastructure Limited

Table of Contents

Executive Summary        3

Part A: Governance        4

1.0        Strengths        4

2.0                5

3.0        Appointment of New Directors        6

Part B: Risk Management        7

1.0                7

2.0        Key Risks in Annual Report Preparation Process        11

3.0        Monitoring and Review        14

4.0        Communication and Consultation with stakeholders and experts        14

5.0        Conclusion        14

Appendix A        15

Appendix B        16

Appendix C        16

References        17

Executive Summary

This report aims to review the governance and risk management practices for Stamford Tech-Infrastructure Limited (STIL) in order to achieve their strategic objective of 10% growth.

In the Corporate Governance section, the 2012 Code of Corporate Governance was used to evaluate STIL’s governance practices. We found key strengths such as clear adherence to remuneration principles, diverse work experience in the board and frequently held board meetings. However, weaknesses were evident in their board performance assessments, issues concerning director’s independence and an absence of a risk management system. In order to mitigate the weaknesses, it is recommended that STIL introduces a formal performance evaluation process of board members, clear disclosure and justification on board member’s independence and set up of a board risk committee respectively.

We identified two key external risks in the Risk Management section of this report, namely technological vulnerability and presence of regulations such as Personal Data Protection Act (PDPA) in Singapore. Thorough risk management approaches to appointing a DDoS leader as well as data protection officer in the company were suggested to counter these potential risks. Risk responses serve to reduce the impact of the external risks to an acceptable level that is within STIL’s risk tolerance levels in order to meet organizational strategic objectives.