INTRODUCTION

Singtel aspires to the highest standards of corporate governance and, to this end, has in place a set of well-defined policies and processes to enhance corporate performance and accountability, as well as protect the interests of key stakeholders.

As Singtel shares are listed on both the Singapore Exchange Securities Trading Limited (SGX) and Australian Securities Exchange (ASX), Singtel seeks to comply with two sets of listing rules and is guided in its corporate governance practices by the Singapore Code of Corporate Governance 2012 (Singapore Code) as well as the ASX Corporate Governance Principles and Recommendations with 2010 Amendments (ASX Code). Where one Exchange has more stringent requirements, Singtel will strive to observe the stricter criteria. Singtel complies with the Singapore Code and the ASX Code. This report sets out Singtel’s main corporate governance practices with reference to the Singapore Code and the ASX Code. Unless otherwise stated, these practices were in place for the entire financial year.

In line with corporate governance best practices, various enhancements to the Singtel Group’s corporate governance regime have been made, including the following:

• With the increasing emphasis on risk governance and heightened risks as well as greater complexity in the business and economic environment, the Risk Committee, a Board committee created in May 2012 to assist the Board in overseeing the governance of risk in the Group’s business, has established a Risk Appetite Statement and Risk Tolerance Framework to provide guidance to the Management on key risk parameters.
• In line with Singtel’s continued commitment towards corporate sustainability, a member of top management was appointed to focus on the development and oversee the execution of the Group's sustainability strategy.

The Board of Directors is responsible for Singtel’s corporate governance standards and policies, and stresses their importance across the Group. Singtel has received accolades from the investment community for excellence in corporate governance. More details are included in the “Key Awards and Accolades” section.