The Straits Trading Company Limited (the "Company") is committed to high standards of corporate governance. This report describes the Company's corporate governance policies and practices during the financial year ended 31 December 2020 ("FY2020") with specific reference to the Code of Corporate Governance 2018 (the "Code"). The Company has complied in all material aspects with the principles and provisions set out in the Code, where applicable. Explanations have been provided where there are deviations from the Code.
The Group had issued internal guidelines on dealings in the securities of the Company to the Directors and employees of the Company and its subsidiaries, advising them, amongst others, not to deal in the securities of the Company on short-term considerations. On a quarterly basis, the Directors and employees were advised of the prohibitions in dealings in the securities of the Company during the period commencing two weeks before the announcement of the Group’s quarterly financial statements, and one month before the Group’s full year financial statements, and ending on the respective announcement dates, and while they are in possession of material price-sensitive information which is generally not available.