The Board of Committees plays a critical role in overseeing the governance and management of SBS. Our committees are comprised of experienced directors who bring a diverse range of skills and perspectives to the table. Each committee is responsible for reviewing specific aspects of the company's operations and making recommendations to the full board. Through this system of checks and balances, we strive to ensure the highest levels of transparency, accountability, and ethical behavior.
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To assist the Board with its responsibilities, the Board established an Executive Committee who may act on corporate matters which are within the competence of the Board except the following authorities that are specially reserved for the Board: (a) approval of any action of which shareholder approval is also required; (b) amendment or repeal of By-Laws or adoption of new By-Laws; (c) approval of the annual report and accounts; (d) exercise of powers delegated by the Board to other committees; (e) board appointments and removals; (f) selection of the Chairman and President & Chief Executive Officer; nominations for Board membership following recommendations from the Nomination Committee; (g) appointment or removal of the Corporate Secretary and Treasurer; (h) appointment,reappointment or removal of the external auditor; and (i) distribution of cash dividends to shareholders.
To assists the Board in fulfilling its oversight responsibilities for the financial reporting process, enterprise risk management and system of internal control, the audit process, and the company’s process for monitoring compliance with laws and regulations.
The Corporate Governance Committee assist the Board in the performance of its corporate governance responsibilities. The committee is tasked with ensuring compliance with and proper observance of corporate governance principles and practices.
To assist the Board in fulfilling its oversight responsibilities in the implementation and review of the Related Party Transaction policy of the Corporation for internal control purposes and in compliance with laws and regulations.
Nomination and Remuneration Committee
The Nomination and Remuneration Committee supports and advises the Board in ensuring that it is comprised of individuals who are the best able to discharge the duties and responsibilities of Directors and that the Company has the appropriate nomination and remuneration standards and practices in place.
Finance and Investment Committee
The Finance and Investment Committee assists the Board in the performance of its oversight function to ensure that: (a) all projects and investment proposals and their funding requirements are consistent with the business strategy of the Corporation;(b) are within approved policies and budgets for said projects; and (c) major financing initiatives and proposals are reviewed prior to submission to the Board for securing Board approval and subsequently monitored on behalf of the Board.