The Board of Directors of the Group is committed to maintaining high standards of corporate governance to ensure better transparency and protection of the overall interests of the Group and its shareholders and to enhance corporate value and accountability. The Group wishes to highlight that the Board will continue to devote efforts in ensuring effective leadership and control of the Group and the transparency and accountability of all operations.
The Board is accountable to the shareholders of the Group for leadership and control of the Group and is collectively responsible for promoting the success of the Group and its businesses by directing and supervising the Group's affairs.
The Board focuses on overall corporate strategies and policies with emphasis on the business growth and financial performance of the Group.
The Board has determined that certain matters such as strategic planning, significant transactions, and budget should be retained for the Board’s approval. It has formalized the functions reserved to the Board to achieve a clear division of responsibilities between the Board and the senior management of the Group.
The Board has delegated its responsibilities to the senior management to deal with day-to-day operations and reviewed those arrangements on a periodic basis. The senior management has frequently reported back to the Board and obtained prior approval before making decisions for key matters or entering into any commitments on behalf of the Company.
The Board is also responsible for performing the corporate governance functions of the Company with clear written terms of reference. The Board has reviewed this corporate governance report in the discharge of its corporate governance functions and to ensure compliance with the Listing Rules.
