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The Company is committed to maintain high standards of corporate governance. The Board believes that effective coporate governance practices are fundamental to enhance the shareholders’ value and safeguard the interests of the shareholders. Accordingly, the Company has adopted sound corporate governance practices that emphasis an effective internal control and accountability to all shareholders.

 

Audit Committee

The Company had established an Audit Committee with written terms of reference which have been updated from time to time to align with the code provisions set out in the Code on Coporate Governance Practices ("CG code"). The Audit Committee of the Company comprises three Independent Non-executive Directors, Mr. Chiu Wai On (the Chairman of the Audit Committee), Mr. Man Kwok Leung and Dr. Wong Yun Kuen. The principal responsibilities of the Audit Committee are to, inter alia, review and supervise the Group's financial reporting process, internal control and risk management procedures, as well as oversee the adequacy of the accounting and financial reporting resources.

 

Remuneration Committee

The Company had established a Remuneration Committee with written terms of reference.  The Remuneration Committee of the Company comprises three Independent Non-executive Directors, Mr. Chiu Wai On (the Chairman of the Remuneration Committee), Mr. Man Kwok Leung and Dr. Wong Yun Kuen. The Remuneration Committee is responsible for making recommendations to the Board on the Company's remuneration policy and structure for Directors and senior management, and reviewing their remuneration packages. In arriving at its recommendations, the Remuneration Committee will consult with the Chairman and/or the CEO whenever it thinks fit and take into consideration factors such as the remuneration paid by comparable companies, skill, knowledge, time commitment and responsibilities of Directors.

 

Nomination Committee
The Company had established a Nomination Committee with written terms of reference.  The Nomination Committee of the Company comprises three Independent Non-executive Directors, Mr. Chiu Wai On (the Chairman of the Nomination Committee), Mr. Man Kwok Leung and Dr. Wong yun Kuen. The Nomination Committee is responsible for reviewing the structure, size and composition of the Board, identifying suitable candidates for directorship, assessing the independence of independent non-executive Directors, and making recommendations to the Board regarding any proposed appointment or re-appointment.