HOTEL ROYAL LIMITED
(Incorporated in the Republic of Singapore)
(Co. Reg. No. 196800298G)
RESPONSE TO QUERY FROM SGX-ST ON THE COMPANY'S ANNUAL REPORT
The Board of Directors of Hotel Royal Limited (the Company" and together with its subsidiaries, the "Group") refers to the query raised by the SGX-ST on 22 April 2022 and wish to respond as follows:
SGX-ST's Query:
We refer to the Company's annual report for the financial year ended 31 December 2021. We note that the Company has been outsourcing its internal audit function to Philip Liew & Co. for some years. Please provide information on the relevant experience of the firm as well as the engagement team.
Company's Response:
Philip Liew & Co (the "Firm") is a public accounting firm that has been established for almost 30 years and is currently led by 4 partners with more than 15 professional staff. The Firm offers professional services including external audit, risk assurance (internal audit), tax compliance and advisory and corporate support services.
The engagement team for the internal audit assignment of the Company and its subsidiaries comprises an Engagement Partner, Engagement Manager and supported by consultants. The Engagement Partner is a Chartered Accountant with more than 20 years of public accounting experience in Singapore and extensive experience in assurance and business advisory. Her portfolio of clients includes companies in Singapore as well as those with a presence in Malaysia, Hong Kong, China, Indonesia, Germany and USA. She holds a Master in Business Administration and is a member of the Institute of Internal Auditors Singapore. The Engagement Manager has approximately 18 years of relevant experience in risk assurance (internal audit) with commercial companies.
By Order of the Board
Sin Chee Mei Company Secretary
25 April 2022