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Annual Report 2013
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Remuneration Committee
a)
The Remuneration Committee shall meet at least once a year or at such other times as the Chairman of the Committee deemed
necessary.
b)
Minutes of each meeting shall be distributed to each member of the Board.
c)
Question arising shall be decided by a majority of votes and determination by a majority of members shall for all purposes be deemed
a determination of the Remuneration Committee.
d)
In the case of an equality of votes, the Chairman of the meeting shall have second or casting vote provided that where two (2) members
form a quorum, the Chairman of the meeting at which only such a quorum is present, or at which only two (2) members are competent
to vote on the question at issue, shall not have a casting vote.
Management Executive Committee (MANCO)
a)
The MANCO meetings can be scheduled or unscheduled
b)
The MANCO shall sit formally or informally at least once a month and as often as is necessary to discuss day to day operations and the
conduct of the Company’s business and plans.
3.
Financial Reporting
The Board ensures shareholders and other stakeholders receive information in a timely manner in order to make informed decision.
4.
Non-Financial Reporting
The Board also enhances the integrated reporting of non-financial information such as disclosure in its Annual Report a description of Corporate
Social Responsibility activities, corporate governance disclosure and other relevant information. Such disclosure of information in a reliable and
timely manner to investors would provide the basis for informed decision-making by shareholders; stakeholders and potential investors.
This Board Charter is reviewed and approved by the Board on
24 February 2014
.
Rev. 1 (24.2.2014)
DIVIDEND POLICY
1.
One of our Company’s Missions is to have a “Consistent, Fair and Equitable Return of Investment to our Shareholders”.
2.
The Company adopts a progressive dividend policy including declaring interim dividend subject to cash position, level of indebtedness, investment
programme and on-going business expansion.
3.
On the prudent side, the Company will not pay dividend if the Group is expected to be in a loss position in any one year.
This Policy is reviewed and approved by the Board on
24 February 2014
.
Rev. 1 (24.2.2014)
APPENDIX I
(CONT’D)
APPENDIX II