With the objective of establishing and maintaining high standards of corporate governance, the Board has established a corporate governance framework with internal controls, systems, policies and procedures in place to promote the operation of Fortune REIT in an accountable and transparent manner and with built-in checks and balances to ensure compliance with relevant regulations.
Sound and effective governance practices form the foundation of the operations of Fortune REIT and is critical to success of the organisation. Underpinned by the vision, mission and values, the Board resolves to continue adhering to the highest standards of corporate governance, business ethics, and corporate social responsibility, thus ensuring solid foundation is in place for creating long-term sustainable returns for Fortune REIT and its stakeholders.
The Board is vested with the overall responsibility for corporate governance, business operations and risks, ESG, financial performance and the appointment of Directors. The Board provides overall oversight and leadership, driving the strategic direction of Fortune REIT and the Manager, including acquisitions and key corporate actions.
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The Board has delegated its power to the Audit Committee, the Disclosures Committee, the Designated Committee and the Nomination Committee to assist with the review of specific issues. Each of the Audit Committee, the Disclosures Committee, the Designated Committee and the Nomination Committee has been set up with clear terms of reference and report back to the Board on their findings and recommendations.
More information on Fortune REIT’s corporate governance practices is available in Fortune REIT’s Annual Report.