Governance

Audit Committee

The Company established an audit committee on 5 Nov 2010, with written terms of reference in compliance with the Code on Corporate Governance Practices as set out in Appendix 14 to the Listing Rules. The primary duties of the audit committee are to review and supervise the financial reporting process and internal control system of the Group.

Remuneration Committee

The Company established a remuneration committee on 5 Nov 2010, with written terms of reference in compliance with the Code on Corporate Governance Practices as set out in Appendix 14 to the Listing Rules. The primary duties of the remuneration committee are, among other things, to review and determine the terms of remuneration packages, bonuses and other compensation payable to the Directors and senior management and to make recommendation to the Board on the Group’s policy and structure for all remuneration of the Directors and senior management.

Nomination Committee

The Company established a nomination committee on 5 Nov 2010, with written terms of reference in compliance with the Code on Corporate Governance Practices as set out in Appendix 14 to the Listing Rules. The nomination committee is mainly responsible for making recommendations to the Board on appointment of Directors and succession planning for Directors.