The Board of Directors of the Company has established five committees to assist in the execution of its duties and review specific areas of affairs for the Company.
To assist the Board of Directors in fulfilling its duties, Board Committees are formed to oversee specific aspects of company affairs, to, as well as to identify and formalize best practices. Our committees are: the Audit Committee, the Nomination Committee and the Remuneration Committee.
The Audit Committee is made up of three independent non-executive Directors having appropriate professional qualifications and experience in financial matters. They are responsible for reviewing of financial information of the Company and monitoring of the Company’s financial reporting system and internal control procedures. The Audit Committee meets twice a year.
The Nomination Committee comprised five members including the Chairman, an executive Director and three independent non-executive Directors. They are responsible for identifying and nominating appropriate candidates to fill casual vacancies of Directors for the Board’s approval. The Nomination Committee meets once a year.
The Remuneration Committee comprised five members including the Chairman, an executive Director and three independent non-executive Directors. They are responsible for the review of emolument issues, which included emolument policies and long-term incentive schemes as well as the basic emolument, paid to Directors. The Remuneration Committee meets once a year.
Rick Management Committees
The Risk Management Committee comprised three members including the Chairman, an executive Director and an independent non-executive Director. They are responsible for the review of the risk management and internal control systems, the effectiveness of the Company’s internal audit function, and such other duties as stipulated under the Corporate Governance Code set out in Appendix 14 of The Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. The Risk Management Committee meets twice a year.