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REMUNERATION COMMITTEE

The Remuneration Committee set up in October 2005 consists of one executive director, Mr. Chung Yuk Sing and two INEDs, namely, Mr. Chan Cheuk Ho and Mr. Lu Chi Chant. Mr. Chan Cheuk Ho chaired the Remuneration Committee.

The main functions of the Remuneration Committee are to assist the Board in establishing a formal and transparent procedure for setting policy on Directors’ and senior management’s remuneration and to make recommendation to the Board on the remuneration packages of individual Executive Directors and senior management as well as on the remuneration of INEDs by reference to the Company’s operation results, individual performance and prevailing market rate.

Terms Of Reference Of Remuneration CommitteeDownload

AUDIT COMMITTEE

The Audit Committee established since August 2003 which comprises all three INEDs and is chaired by Mr. Chan Cheuk Ho.

The Board considers that each member of the Audit Committee has broad commercial experience and together form a suitable mix of expertise in the legal and accounting fields.

The Audit Committee has the responsibilities and powers set forth in its terms of reference. To maintain its independence, the Audit Committee is required to have at least one meeting with the external auditor without the presence of Executive Directors within a financial year. The function of the committee is to provide assistance to the Board in fulfilling its oversight responsibilities to shareholders, potential shareholders, the investment community and other stakeholders relating to:

    1. the integrity of accounts and financial reporting process of the Company;
    1. the assessment of the external auditor’s qualifications and independence;
    1. the performance of the Company’s internal audit function and the external auditor; and
    1. the effectiveness of the risk management and internal control systems of the Company

Terms Of Reference Of Audit CommitteeDownload

NOMINATION COMMITTEE

The Nomination Committee was set up in March 2012 consists of one executive director, Mr. Chung Yuk Sing and two INEDs, Mr. Chan Cheuk Ho and Mr. Lu Chi Chant. Mr. Chung Yuk Sing is the Chairman of the Nomination Committee.

The main functions of the Nomination Committee are to review the structure, size and composition of the Board, to identify individuals who are suitably qualified to become the Directors, and to assess the independence of the INEDs. After considering the independence and qualifications of nominees, the Nomination Committee makes recommendations to the Board so as to ensure that all nominations are fair and transparent. The Nomination Committee is also making recommendations on the appointment or reappointment of the Directors and succession planning of the Directors, in particular the Chairman and the Chief Executive Officer.

Terms Of Reference Of Nomination CommitteeDownload