Good corporate governance not only increases competitive edge, but also enhances the company's value, and protects the rights of its shareholders, employees, clients and suppliers. Yip's Chemical abides by the latest guidelines and strives to maintain the highest standards of corporate governance possible.
As at 1 January 2012:
The most important matters includes:
- setting of long term objectives and strategies
- approval of preliminary announcements of results
- approval of annual budgets
- approval of major capital expenditure, acquisitions and disposals
- establishment of risk management policies
- approval of connected transactions
- declaration and recommendation of the payment of dividends
- appointment of new directors
- establishment of Board committees
- review and monitoring of internal control and risk management
- approval of major policies and guidelines
- Mr. Yip Tsz Hin, Stephen
(Deputy Chairman & the Chairman of GEC) - Mr. Wong Kam Yim, Kenny
(the CEO) - Mr. Li Wai Man, Peter
(the COO) - Mr. Ho Sai Ho, Johnson (the CFO)
- Mr. Kwong Kwok Chiu
- Mr. Ip Kwan, Francis
- Mr. Fung Ping Kwong, Eddy
- Assist the Board in setting the policies and strategies
- Execute the policies and strategic plans set by the Board
- Supervise the businesses of the subsidiaries
- Assist and co-ordinate the operations of subsidiaries, and maximize the benefits for the Group
To be ready for greater business opportunities and respond to the ever-changing market challenges, a new committee named as Group Executive Committee is established with effect from 1 January 2012 to replace the previous Board Executive Committee and Group Management Committee, which becomes the Group’s highest administrative and management body. Mr. Yip Tsz Hin, the deputy chairman of the Board, is appointed as the chairman of the Group Executive Committee.
The Group has been enhancing the efficiency of its internal control systems and ensuring that financial reports comply with applicable laws and regulations. The Internal Audit Department independently monitors all internal control procedures.
With the expansion of businesses, the Group puts more emphasis on enhancing its corporate transparency and improving communication with its shareholders. The Group aims to strengthen the relationship with the public and its shareholders, and strives to build the Group's reputation, corporate image and integrity through participation in philanthropic activities, news disclosure and media communication.
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