Board Committees
The Board has established three committees, namely the Audit Committee, the Remuneration Committee and the Nomination Committee, for overseeing particular aspects of the Company’s affairs.
Audit Committee
Currently, the Audit Committee of the Company consists of three members, including one non-executive Director and two independent non-executive
Directors, namely Mr. Choi Wai Hong, Clifford, Mr. Wong Yiu Kit, Ernest and Mr. Lam John Cheung-wah. Mr. Wong Yiu Kit, Ernest is the chairman of the Audit Committee.
The main duties of the Audit Committee include (i) monitoring the integrity of the financial statements, (ii) reviewing the effectiveness of internal controls, risk management systems, scope of audit and arrangements for employees of the Company to raise concerns about possible wrongdoing in financial reporting or other matters, (iii) considering and making recommendations to the Board in relation to the appointment of external auditor, and (iv) making recommendations to the Board it deems appropriate on any area within its remit where action or improvement is needed.
Remuneration Committee
Currently, the Remuneration Committee of the Company consists of three members, including one non-executive Director and two independent non-executive Directors, namely Mr. Zhang Xiaohui, Mr. Zhao Lin and Mr. Lam John Cheung-wah. Mr. Zhao Lin is the chairman of the Remuneration Committee.
The primary functions of the Remuneration Committee include (i) determining the total individual remuneration package of each executive Director and other senior executives, and (ii) reviewing the ongoing appropriateness of the remuneration policy
Nomination Committee
Currently, the Nomination Committee of the Company consists of three members, including one non-executive Director and two independent non-executive Directors, namely Mr. Zhang Xiaohui, Mr. Zhao Lin and Mr. Lam John Cheung-wah. Mr. Zhao Lin is the chairman of the Nomination Committee.
The principal duties of the Nomination Committee include (i) reviewing the structure, size and composition of the Board and making recommendations to the Board regarding any proposed changes, (ii) making recommendations to the Board on the appointment or re-appointment of Directors and succession planning for Directors (in particular the chairman and the chief executive officer), and (iii) assessing the independence of independent non-executive Directors.