Corporate Governance

Sembcorp Marine believes that high standards of corporate governance are essential in sustaining the Group’s businesses and performance.

Committed to this belief, we place a strong emphasis on the professionalism, integrity and commitment of our people and put in place a sound system of policies, practices and internal controls across the Group.

Going forward, we will continually review the Group’s corporate governance principles, framework and practices to ensure that they remain relevant.

Code of Corporate Governance

Sembcorp Marine adopts corporate governance practices which are in conformity with the Code of Corporate Governance 2012 issued by the Singapore Exchange Securities Trading Limited. Click here for the report which describes the Group’s corporate governance practices with specific reference to the Code.


Sembcorp Marine continues to be recognised for its good corporate governance and transparency practices. Click here to view the awards and accolades received by the Group.

Board Committees

Sembcorp Marine has six Board Committees which assist in the discharge of the Board's responsibilities:

  • Audit Committee

    Mr Lim Ah Doo, Independent Member (Chairman)
    Mr Ron Foo Siang Guan, Independent Member
    Mr Koh Chiap Khiong, Non-Independent Member

  •  Executive Resource & Compensation Committee

    Tan Sri Mohd Hassan Marican, Independent Member (Chairman)
    Mr Tang Kin Fei, Non-Independent Member
    Mr Ajaib Haridass, Independent Member

  • Nominating Committee

    Mr Ajaib Haridass, Independent Member (Chairman)
    Tan Sri Mohd Hassan Marican, Independent Member
    Mr Tang Kin Fei, Non-Independent Member

  • Board Risk Committee

    Mr Ajaib Haridass, Independent Member (Chairman)
    Mr Tang Kin Fei, Non-Independent Member
    Mr Ron Foo Siang Guan, Independent Member
    Mr Eric Ang Teik Lim, Independent Member
    Mr Lim Ah Doo, Independent Member

  • Transformation Committee

    Tan Sri Mohd Hassan Marican, Independent Member (Chairman)
    Mr Ron Foo Siang Guan, Independent Member
    Mr Lim Ah Doo, Independent Member
    Mr Koh Chiap Khiong, Non-Independent Member

  • Executive Committee

    Tan Sri Mohd Hassan Marican, Independent Member (Chairman)
    Mr Wong Weng Sun, Non-Independent Member
    Mr Ajaib Haridass, Independent Member
    Mr Tang Kin Fei, Non-Independent Member

Enterprise Risk Management

Sembcorp Marine adopts an enterprise risk management (ERM) framework which comprises systems of risk management and internal controls and related risk policies, procedures, processes and limits. The framework is regularly reviewed and improved to assist the Group in identifying, assessing and managing its key risks.

The Board delegates its risk oversight responsibility to the Board Risk Committee,  which is supported by the ERM Committee and the ERM sub-committees.

For more information on the Group’s ERM framework and the key risks faced by the Group, please click here

Business Ethics & Integrity 

Sembcorp Marine has in place anti-bribery compliance and fraud risk management policies to ensure high standards of corporate governance and business integrity. These policies are communicated across the Group’s global operations to its business partners including customers, suppliers and contractors. Training sessions are also conducted to educate employees on the related topics. 

Further augmenting this framework is the established Group-wide whistle-blowing policy and procedure, which provides an avenue for employees and external parties to raise concerns about possible improprieties in confidence for independent investigation. Sembcorp Marine also carries out periodic audits to ensure regulatory compliance as well as the continued effectiveness and adequacy of internal controls in the prevention of bribery, corruption and fraud.

  • Anti-Bribery Compliance Policy  

    Sembcorp Marine adopts a zero tolerance approach towards bribery and corruption. The Group, its subsidiaries and associated companies are committed to conducting business in a professional, fair and ethical manner. Any acts to obtain an unfair advantage through bribery or corruption by employees or third-party representatives, including agents, consultants, distributors, teaming partners, contractors, joint-venture partners and vendors that represent the Group, will not be condoned.

    The Group has in place an anti-bribery policy that provides standards of conduct for employees and third-party representatives to ensure that all business dealings are conducted with integrity and in compliance with anti-bribery and corruption laws. Such laws include the Prevention of Corruption Act in Singapore (Chapter 241), the Foreign Corrupt Practices Act in the United States, the Bribery Act 2010 in the United Kingdom, and laws enacted pursuant to the Convention on Combating Bribery of Foreign Public Officials in International Business Transactions adopted by member states of the OECD Convention.  

    Under the policy, employees and third-party representatives are not allowed to give, promise, offer, or authorise the giving of anything of value, either directly or indirectly, to a government official or other covered individual, for the purpose of influencing any act or decision of such a person to secure an improper advantage or to otherwise obtain or retain business for the Group. Any breach of this policy is considered a serious violation which may result in disciplinary action or termination of the business relationship with a third-party representative who violates this policy.

    The provision of incidental routine business courtesy is to be kept at a level that is commensurate with the reasonable and proportionate norms for the industry. The Group will also conform to the relevant local legislations and regulations in countries where it has business presence. All gifts, entertainment and hospitality given to customers and other outside parties are required to be properly accounted for and recorded.

    Employees must ensure that all expense claims relating to hospitality, gifts or entertainment expenses incurred are submitted to ensure accountability. All accounts, invoices, memoranda and other documents and records relating to dealings with external parties should be prepared and maintained with strict accuracy and completeness.

  • Fraud Risk Management Policy

    Sembcorp Marine adopts a holistic approach to address the risk of fraud. The Group has in place a fraud risk governance framework and related policies and procedures to prevent, detect and respond to incidents of fraud. This programme is reviewed at least annually and revised to meet the changing needs of the Group.

    Acts of fraud committed by employees or parties to gain dishonest or unfair benefits for themselves or related parties to the detriment of the Group are strictly not tolerated. The perpetrators may face consequences such as disciplinary warnings, termination of employment or other contractual relationship, and be reported to the appropriate law enforcement or regulatory body.

    Fraud risk assessment, fraud communication and training, background and due diligence checks are some of the preventive measures taken by the Group. To detect fraud, both internal and external audits are performed, as well as process controls such as reconciliation, physical counts and data analysis. Another effective detective measure is the whistle-blow channel. For confirmed cases of fraud or corruption, disclosure will be made to the appropriate bodies such as SGX, SPF, CPIB etc. Where control deficiencies are uncovered in the investigation process, remediation actions will be taken.

    The Group requires all books, records and accounts be kept to accurately and fairly reflect all transactions and disposition of assets. Internal controls are also implemented to provide reasonable assurance that transactions are carried out in compliance with applicable Group policies. False, misleading, incomplete, inaccurate or artificial entries in the Group’s books and records are strictly prohibited. 

Investor Relations

The Group adopts a pro-active approach in reaching out to investors and shareholders, and ensuring regular, fair and timely communication at all times. Sembcorp Marine is also committed to fostering long-term relationships with the investment community while upholding high corporate transparency standards.

To achieve these objectives, multiple communication platforms are utilised. These include group briefings with analysts, media and investors, one-on-one meetings with shareholders and potential shareholders, investor conferences and roadshows, the Group’s corporate website as well as company visits and shipyard tours.

For more information on the Group’s investor relations practices, please click here.