Annual Report 2016
55
REPORT OF THE DIRECTORS
30. MANAGEMENT CONTRACT
No contracts concerning the management and administration of the whole or any substantial part
of the business of the Company were entered into or existed during the Year.
31. PERMITTED INDEMNITIES
Pursuant to the Bye-Laws, the Directors shall be indemnified and secured harmless out of the
assets of the Company from and against all actions, costs, charges, losses, damages and
expenses, which shall or may incur or sustain by or by reason of any act done, concurred in or
omitted in or about the execution of their duty. In addition, the Directors and key officers of the
Group are under appropriate insurance cover on Directors’ and key officers’ liabilities in respect of
their risks arising from the business of the Group.
32. CHARITABLE DONATION
During the Year, charitable donations made by the Group amounted to HK$25,200 (2015:
HK$29,400).
33. REVIEW OF THE FINAL RESULTS BY AUDIT COMMITTEE
The Company has established an audit committee of the Board (the “Audit Committee”) with
written terms of reference in compliance with the Corporate Governance Code as set out in
Appendix 14 of the HK Listing Rules and the SGX-ST Listing Manual and the Audit Committee has
performed the functions as detailed in the Corporate Governance Report contained in this annual
report. The Audit Committee comprises all the three INEDs, namely Messrs. Jovenal R. Santiago
(committee chairman), Wong Kwan Seng, Robert and Iu Po Chan, Eugene. The Group’s audited
consolidated results for the Year have been reviewed by the Audit Committee.
34. PURCHASE, SALE OR REDEMPTION OF THE COMPANY’S LISTED
SECURITIES
During the Year, the Company did not redeem any of its Shares listed on the Main Board of the
SEHK and the SGX-ST nor did the Company or any of its subsidiaries purchased or sell any of
such Shares.
