The shareholding structure of Ascencia
as at 30 June 2023
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The Board of Directors plays a pivotal role in shaping Ascencia's strategy, overseeing risk management, evaluating performance, and ensuring effective governance. Their focus on long-term value creation, strategic guidance, and risk oversight contributes to the company's success and sustainable growth while safeguarding the interests of shareholders and stakeholders.
Committees
The Board is assisted in the discharge of its duties by three Board Committees, namely the Corporate Governance Committee (acting also as Nomination and Governance Committee and Remuneration Committee), the Risk Management and Audit Committee and the Strategic Committee.
The composition of each Committee is reviewed by the Nomination and Governance Committee at least annually and the membership is posted on this website.
Governance Structure
The culture at Ascencia ensures that its governance structure remains flexible, allowing for fast decision making and effective oversight.
The Board
The Board is primarily responsible for setting the Company’s strategy for delivering long-term value to Ascencia’s shareholders and other stakeholders, providing effective challenge to management concerning the execution of the strategy and ensuring that the Company maintains an effective risk management and internal control system.
The Board delegates certain matters to its three committees:
Risk Management and Audit Committee
Reviews and monitors the main and emerging risks and the effectiveness of Ascencia’s risk management system.
Oversees the Company’s financial reporting, maintains an appropriate relationship with the external auditor and monitors Ascencia’s financial controls.
Oversees the Company’s financial reporting, maintains an appropriate relationship with the external auditor and monitors Ascencia’s financial controls.
Corporate Governance Committee
(Also acting as Nomination and Remuneration Committees)
Oversees the corporate framework of Ascencia.
Reviews Ascencia’s remuneration policy and ensures there is a clear link between performance and remuneration.
Oversees the corporate framework of Ascencia.
Reviews Ascencia’s remuneration policy and ensures there is a clear link between performance and remuneration.
Strategic Committee
Appraises projects, investment and divestment opportunities and strategies.
Discusses the strategic risks related to projects and investments.
Discusses the strategic risks related to projects and investments.
The terms of reference of each Board committee and their membership are available on this website
Executive Directors
The Board delegates the execution of Ascencia’s strategy and the day-to-day management of the business to the Executive Directors, who are assisted by their Property & Asset Management and Fund Management teams.
The shareholders and other key stakeholders of Ascencia play an important role in monitoring and safeguarding its governance.
Risk Management & Internal Audit
The Board of Directors is responsible for risk governance and ensures that the organisation develops and executes a comprehensive and robust system of risk management. The Board fulfills its role in risk oversight through the Risk Management and Audit Committee (RMAC).
The terms of reference of the RMAC are in accordance with the provisions of the Code and were revised such that the RMAC oversees the risk management, internal control systems and audit matters.
The Risk Management framework of Ascencia encompasses its risk management structure, culture, journey, appetite and approach.
The terms of reference of the RMAC are in accordance with the provisions of the Code and were revised such that the RMAC oversees the risk management, internal control systems and audit matters.
The Risk Management framework of Ascencia encompasses its risk management structure, culture, journey, appetite and approach.
Internal Audit
The Internal Audit function is done by Rogers and is composed of qualified/partly qualified internal auditors and receives regular training to ensure audit quality is maintained. It is responsible for the execution of the three year Audit Plan approved by the RMAC.
The audit department provides an independent assurance that Ascencia's risk management, governance and internal control processes are operating effectively and evaluates risks and internal controls implemented by management to effectively manage risks within tolerable level. The main risks and internal control findings are reported to the RMAC.
The audit department provides an independent assurance that Ascencia's risk management, governance and internal control processes are operating effectively and evaluates risks and internal controls implemented by management to effectively manage risks within tolerable level. The main risks and internal control findings are reported to the RMAC.
