Board Committees are formed to assist the Board in fulfilling its duties and overseeing specific company affairs. They are the Audit Committee, the Remuneration Committee, the Nomination Committee.
Audit Committee
Our Company established the Audit Committee with written terms of reference in compliance with Rule 3.21 of the Listing Rules and the Corporate Governance Code. The Audit Committee comprises three members, namely Dr. Chan Kwong Fai, Dr. Charm Ka Ieong and Ms. Chan Yuen Sau Kelly. Ms. Chan Yuen Sau Kelly has been appointed as the chairman of the Audit Committee, and is our independent non executive Director possessing the appropriate professional qualifications. The primary duties of the Audit Committee include, without limitation, assisting our Board by providing an independent view of the effectiveness of the financial reporting process, internal control and risk management systems of our Group, overseeing the audit process and performing other duties and responsibilities as assigned by the Board.
Remumeration Committee
Our Company established the Remuneration Committee with written terms of reference in compliance with Rule 3.25 of the Listing Rules and the Corporate Governance Code. The Remuneration Committee comprises three members, namely Dr. Chan Kwong Fai, Dr. CW Chow and Ms. Chan Yuen Sau Kelly. Dr. Chan Kwong Fai has been appointed as the chairman of the Remuneration Committee. The primary duties of the Remuneration Committee include, without limitation, the following: (i) making recommendations to the Board on our policy and structure for all remuneration of Directors and senior management and on the establishment of a formal and transparent procedure for developing the policy on such remuneration; (ii) determining the specific remuneration packages of all Directors and senior management; and (iii) reviewing and approving performance-based remuneration by reference to corporate goals and objectives resolved by the Board from time to time.
Nomination Committee
Our Company established the Nomination Committee with written terms of reference in compliance with the Corporate Governance Code. The Nomination Committee comprises three members, namely, Dr. Charm Ka Ieong, Dr. CW Chow and Dr. Chan Kwong Fai. Dr. Charm Ka Ieong has been appointed as the chairman of the Nomination Committee. The primary duties of the Nomination Committee include, without limitation, reviewing the structure, size and composition of the Board, assessing the independence of independent non-executive Directors and making recommendations to the Board on matters relating to the appointment of Directors.
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