COMPOSITION OF REMUNERATION COMMITTEE

The members of the Remuneration Committee comprises:-

Director Designation
Mr Yeoh Chong Keat

(Chairman of RC)

Independent Non-Executive Director
Dato’ Lim Kim Huat Managing Director
Mr Cheong Marn Seng Independent Non-Executive Director

 

TERMS OF REFERENCE OF REMUNERATION COMMITTEE

Constitution

The Board has established a Committee of the Board to be known as the Remuneration Committee.

Membership

  • The Committee shall be appointed by the Board from amongst the directors of the Company and shall consist mainly of non-executive directors. A quorum shall be two (2) members.
  • The members of the Committee shall elect a Chairman from among their members.
  • If a member of the Committee resigns or for any other reason ceases to be a member with the result that the number of members is reduced below three (3), the Board of Directors shall, within three (3) months of that event, appoint such number of new members as may be required to make up the minimum number of three (3) members.

Objective

Remuneration of directors should be determined so as to ensure that the Company attracts and retains the directors needed to run the Group successfully. The component parts of remuneration should be structured so as to link rewards to corporate and individual performance, in the case of executive directors.

Functions

The functions of the Committee shall be:-

  1. Recommend to the board the framework of executive remuneration and its cost, and the remuneration package for each executive director, taking into account the performance of the individual, the inflation price index and information from independent sources on the rates of salary for similar jobs in a selected group of comparable companies.
  1. To reimburse reasonable expenses incurred by the directors in the course of their duties.
  1. To review and determine the bonus scheme for the executive directors depending on various performance measurements of the Group.
  1. To review and determine the other benefits in kind for the executive directors.
  1. To review the executive directors’ service contracts (if any).

Reporting Procedures

  • The remuneration of directors shall be the ultimate responsibility of the full board after considering the recommendations of the Committee.
  • Directors do not participate in decisions on their own remuneration packages. 

ACTIVITIES OF THE REMUNERATION COMMITTEE

The Committee met on 8 Apr 2016 after the financial year ended 31 December 2015 to review the remuneration packages of the Executive Director of the Company as well as Directors’ fees for the financial year ending 31 December 2016.