The Company first appointed PwC Singapore (formerly known as PriceWaterhouse Singapore) as its independent internal auditors in 1997. PwC Singapore is a corporate member of the Singapore branch of the Institute of Internal Auditors and is guided by the PwC Global Internal Audit Services Outsourcing Engagement Framework, the standards of which are consistent with the Standards for the Professional Practice of Internal Auditing developed by the Institute of Internal Auditors. PwC's primary line of reporting is to the Chairman of the Audit Committee and co-ordinates administratively with the Director of Internal Controls.

The Group's internal controls and systems are designed to provide reasonable assurance as to the integrity and reliability of the financial information and to safeguard and maintain accountability of its assets. There is a clearly defined delegation of authority from the Board to the operating companies. Procedures are in place to identify major business risks and evaluate potential financial effects, as well as for the authorization of sales contracts, capital expenditure and investments. Comprehensive budgeting systems are in place to develop annual budgets covering key aspects of the business. Actual performance is compared to budgets and revised forecasts for the year are prepared on a regular basis.

The Group has a requirement for annual ethical conduct sign-off for managers.