INFORMATION TECHNOLOGY RISK With the increased reliance on information systems and technology as a business enabler across our businesses, a service disruption of critical Information Technology (IT) systems or malicious and deliberate attempts of hackers to breach our IT systems could adversely affect the Group’s business continuity and reputation. CYBER THREAT The Group recognises that cyber threat remains a key concern as attackers have become increasingly creative with attack methods and increasingly destructive payloads that better target system vulnerabilities. We manage this risk by: a) Maintaining an IT security framework to address evolving IT security threats such as hacking, malware, mobile threats and loss of data. Measures and considerations have also been taken to safeguard against loss of information, data security, and prolonged service disruption of critical IT systems. b) Dedicating IT expertise to keep abreast of the latest developments, innovation and threats in technology and assessing their impact and risks. c) Conducting Vulnerability and Penetration Testing (VAPT) and guided selfassessments to identify IT security gaps. d) Leveraging threat intelligence and advanced security analytics to detect potential breaches. e) Conducting training and assessment exercises, to educate users and heighten awareness to cyber threats. f) Maintaining a cyber threat incident response protocol and disaster recovery plan. The Group also carries out disaster recovery plan testing at least once annually. INVESTOR RELATIONS CDL is committed to maintaining high standards of disclosure and corporate transparency to foster accountability, confidence and trust among our valued investors. The ‘Investor Relations’ (IR) section on CDL’s website (cdl.com. sg) is the primary source of corporate and financial information. Our IR Policy on our website outlines the principles and framework we use to communicate and engage with all our stakeholders. PROACTIVE COMMUNICATION & OUTREACH We understand the importance of keeping our investors informed with timely and accurate disclosure of material information, such as our business performance, corporate strategies, operational, and Environmental, Social and Governance (ESG) highlights. This helps them make betterinformed decisions about CDL. To accomplish this, our Management Executive Committee (ExCo), Senior Management and IR team utilise multiple communication touchpoints to connect with our investors regularly. Corporate materials such as the Group’s financial results, investor presentations, annual and sustainability reports, media statements and other corporate announcements can be found on our website’s IR section and disseminated on SGXNet (sgx.com). In addition, we utilise our corporate website and social media channels (LinkedIn, X and Instagram) to highlight the latest updates on the Group’s business developments and milestones. Besides following our social media channels, investors can subscribe to email alerts on our website to receive notifications whenever CDL issues an announcement. IMPACTFUL ENGAGEMENT CDL values meaningful interactions with the investment community, including the Annual General Meeting (AGM), investor conferences, one-on-one and group meetings, showflat tours, site visits, roadshows, conference calls and emails. RISK MANAGEMENT CDL Executive Chairman Mr Kwek Leng Beng (centre) with our ExCo at the Group’s FY 2022 Financial Results Briefing on 23 February 2023. The Group’s 60th AGM on 26 April 2023 was held in a hybrid format, providing shareholders with the option to attend in-person at Orchard Hotel Singapore or remotely. Aside from regular quarterly updates on our business and operational performance, we also hold bi-annual financial results briefings for research analysts and media. These sessions are open for investors and other stakeholders to join via ‘live’ webcasts, and a recording of the corporate presentation is made available on our website thereafter. In 2023, with the easing of pandemic restrictions, we resumed in-person meetings and events, which we believe are vital for fostering engagement and building rapport with shareholders. However, to provide flexibility to shareholders who may have grown accustomed to virtual meetings, our 60th AGM on 26 April 2023 was held in a hybrid format, providing shareholders with the option to attend in-person or remotely. Virtual live voting and question-and-answer functions were implemented to facilitate remote participation. During the year, we engaged with over 60 institutional investors, hosted several local and overseas showflat and site tours, and our AGM and webcasts were attended by over 800 shareholders and stakeholders. During these meetings, our ExCo and Senior Management representatives shared insights on our performance and strategic priorities and gleaned valuable feedback on investors’ perceptions. Apart from facilitating corporate access for investors, the IR team proactively engages with sell-side equity research analysts, maintaining regular dialogue, to stay informed about market concerns. The ExCo and the Board are also updated on analysts’ views, share price performance and shareholder analysis on a monthly and bi-annual basis respectively. Corporate governance excellence and driving sustainable shareholder returns is a key priority for the Group. Through open communication and effective engagement, we continue to build confidence and trust with the investment community. 73 72 CORPORATE GOVERNANCE ANNUAL REPORT 2023 CITY DEVELOPMENTS LIMITED CORPORATE GOVERNANCE
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