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The Nomination Committee is responsible for formulating policy and making recommendations to the Board on nominations, appointment or re-appointment of Directors and Board succession. The Committee develops selection procedures for candidates, and will consider different criteria including the balance of skills and knowledge, as well as experience of the Board when required. The Committee also reviews the structure, size and composition of the Board and assesses the independence of Independent Non-executive Directors.

The Nomination Committee currently comprises three Independent Non-executive Directors, namely, Professor Wong Yue Chim, Richard (who is the chairman of the Nomination Committee), Mr. Cheng Hoi Chuen, Vincent and Mrs. Lee Pui Ling, Angelina. One set of Resolutions in Writing of the Committee Members of the Nomination Committee of the Company was passed in the year for approving the re-appointment of Directors at 2010 Annual General Meeting.

Finance Committee

The Company established a Finance Committee on 11 March 2003 which comprises three Executive Directors, namely Dr. Lo Ka Shui, Mr. Lo Kai Shui and Mr. Kan Tak Kwong. Matters considered by the Finance Committee and the decisions reached were reported to the Board at regular Board meetings. Apart from the day-to-day interactions, the duties of the Finance Committee also include:

  • (a)

    meeting on an as needed basis to review the financial position of the Company; and

  • (b)

    reviewing and considering the present or future borrowings and/or other obligations and/or liabilities, actual, contingent

of the Group.

Auditors Remuneration

During the year ended 31 December 2010, the total fees in respect of audit and non-audit services provided to the Company and its subsidiaries by the Companys auditor, Messrs. Deloitte Touche Tohmatsu, are set out as follows:

31 December 2010 HK$’000

31 December 2009 HK$000

Services rendered Audit services Non-audit services



Taxation services Other services

572 584

742 540



Note: The total amount of Auditors Remuneration as disclosed in note 12 to the consolidated financial statements excludes taxation services of HK$572,000, other non-audit services of HK$44,000, and interim review fee of Messrs. Deloitte Touche Tohmatsu of HK$540,000 which has been shown as other services above and includes audit services provided by other auditors of HK$1,826,000.

Annual Report 2010


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