Corporate Governance

Audit Committee

The audit committee of Company consists of three independent non-executive Directors, Mr. Poon Yick Pang Philip, Mr. Cheung Chiu Tung and Mr. Ma Yu-heng being the chairman of the committee. The primary functions of the audit committee are to assist Board in providing an independent view of the effectiveness of the financial reporting process, internal control and risk management systems, oversee the audit process and perform other duties and responsibilities as assigned by our Board. These include reviewing the interim and annual results and reports of the Group.


Remuneration Committee

The remuneration committee consists of Mr. Cheung Chiu Tung, Mr. Poon Yick Pang Philip and Mr. Peng Zuncheng, with Mr. Cheung Chiu Tung being the chairman of the committee. The primary functions of the remuneration committee are to review and approve the management’s remuneration proposals with reference to the Board’s corporate goals and objects and make recommendations to the Board on the remuneration package of individual executive Director and senior management and on the establishment of a formal and transparent process for developing such remuneration policy. No executive Director takes part in any discussion on his own remuneration. The Company’s objective for its remuneration policy is to maintain fair and competitive packages based on business requirements and industry practice. In order to determine the level of remuneration and fees paid to members of the Board, market rates and factors such as each director’s workload, performance, responsibility, job complexity and the Group’s performance are taken into account.

Nomination Committee

The nomination committee consists of Mr. Kwok Kin Sun, Mr. Poon Yick Pang Philip and Mr. Cheung Chiu Tung, with Mr. Kwok Kin Sun being the chairman of the committee. The primary functions of the nomination committee are to review the composition of the Board, including its structure, size and diversity at least annually to ensure it has a balance of expertise, skills and experience appropriate to the requirements of the business of the Group. It is also responsible to consider and make recommendations to the Board suitably qualified persons to become a member of the Board, monitor the succession planning for Directors and assess the independence of independent non-executive Directors. The nomination committee will also give consideration to the Board Diversity Policy when identifying suitably qualified candidates to become members of the Board, and the Board will review the Board Diversity Policy, so as to develop and review measurable objectives for the implementing the Board Diversity Policy and to monitor the progress on achieving these objectives.