Code of Corporate Governance, 6 August 2018 (Last Amended 11 January 2023)

The cover page reads "6 AUGUST 2018 (LAST AMENDED 11 JANUARY 2023)" and the text carries exactly three "[Amended on 11 January 2023]" markers. Provision 2.1 defines an independent director wholly qualitatively as one "independent in conduct, character and judgement" with no relationship that could interfere with independent business judgement, Provision 2.2 requires an independent majority where the chairman is not independent, and Provision 4.4 makes the nominating committee determine independence annually while allowing the board to override a disclosed relationship. The words "nine" and "controlling shareholder" appear nowhere in the Code: the nine-year tenure limit sits only in the SGX Listing Rules, so a director can be independent under the Code and not independent under the listing rule.