HUTCHISON PORT HOLDINGS TRUST 102 CORPORATE GOVERNANCE REPORT As such, the qualitative board diversity targets relating to the experience, skills, expertise, values and background required of the Board have been met. For gender diversity, the target is to have the Board comprise at least 30% female directors, which has been achieved by HPH Trust. Currently, out of the nine Directors, four are female, which also exceeds the target to be met by 2030 recommended by the Council for Board Diversity of Singapore. Female representation at the Board stands at a relatively high level (44%, four out of nine Directors) amongst companies listed on the SGX-ST.1 HPH Trust targets the Board to continue to have at least 30% female Directors in the coming years. For other diversity criteria based on ethnicity and age, please refer to the diversity profi le chart set out on page 104 of this Report. The Board has long viewed diversity as a core consideration for Board composition to strengthen the versatility and resilience of the Trust. To incorporate diversity aspects into its decision-making and strategy formulation, the Board has adopted the Board Diversity Policy in 2019 followed by the set-up of the NC in April 2022. In 2022, the Board has revised the Board Diversity Policy upon the recommendation of the NC to encapsulate the additional disclosure requirements under the SGX-ST Listing Manual and the Code and any other relevant aspects of diversity. The revised Board Diversity Policy, which addresses gender, skills and experience, and any other relevant aspects of diversity, recognises the benefi ts of a Board that possesses a balance of skills set, experience, expertise and diversity of perspectives appropriate for the strategies of HPH Trust. The Board Diversity Policy is available on HPH Trust’s corporate website (https://www.hphtrust.com/corporate_governance.html). The Trustee-Manager believes that board diversity enhances decision-making capability and thus the overall effectiveness of the Board in achieving sustainable business operation and enhancing unitholder value. HPH Trust will continue to assess the Trustee-Manager’s Board Diversity Policy on an annual basis to see if the existing policy remains relevant to the diversity strategies of the Trustee-Manager using a holistic approach and taking into consideration the evolving changes to the environment, society and the business needs of HPH Trust. If the need arises, the NC will come up with relevant measurable targets and objectives, the accompanying plans and timelines for achieving the targets for consideration and approval by the Board. The Board comprises nine Directors including the Non-executive Chairman, one Executive Director, two Non-executive Directors and fi ve Independent Non-executive Directors. Biographical details of the Directors are set out on pages 20 to 24 of the Annual Report and on HPH Trust’s corporate website. 1 The Diversity Action Committee (now known as the Council for Board Diversity of Singapore) set a triple tier target of 20% by 2020, 25% by 2025 and 30% by 2030 for the largest 100 primary-listed companies on SGX-ST. PwC’s study suggests that there has been a 57% increase in women board directors between 2015 to 2020, with 14.17% of board directors being females.
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