The Board is of the view that full disclosure of specific remuneration of each individual key management personnel is not in the best interests of the Company, taking into account the sensitive nature of the subject, the competitive business environment the Group operates in and the potential negative impact such disclosure will have on the Group. The remuneration of top 5 executives of the Group (who are not also Directors) for FY 2025 is set out below:– Remuneration band No of Executives Below S$200,000 – S$200,000 – S$400,000 3 S$400,000 – S$600,000 2 Provision 8.2 of the Code: Remuneration disclosures of related employees Save for Mr Sidney Chew Choon Tee, the Managing Director of the Company, there is no employee who is a substantial shareholder of the Company in FY 2025. The remuneration of an employee who is the spouse of Mr Sidney Chew Choon Tee, for FY 2025 is set out as below:– % Breakdown of Remuneration Name of employee Remuneration band Base salary Bonus Benefits in kind Ms Liau Bin Bin S$400,000 – S$500,000 69% 29% 2% Save for Ms Liau Bin Bin, there is no other employee who is the immediate family members of a Director, the Managing Director or a substantial shareholder of the Company, and whose remuneration exceeded S$100,000 in FY 2025. ACCOUNTABILITY AND AUDIT Risk Management and Internal Controls Principle 9: The Board is responsible for the governance of risk and ensures that Management maintains a sound system of risk management and internal controls, to safeguard the interests of the company and its shareholders. Provision 9.1 of the Code: Board determines the nature and extent of risks The Board and Management acknowledge that it is responsible for the overall risk management and internal control framework, but recognise that no cost-effective control system will preclude all errors and irregularities, as a system is designed to manage rather than eliminate the risk of failure to achieve business objectives, and can provide only reasonable and not absolute assurance against material misstatement or loss, human error, fraud and lapse in judgement. MEGACHEM LIMITED ANNUAL REPORT 2025 64 CORPORATE GOVERNANCE REPORT
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