Management Structure

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 Jaunary 2016:

THE BOARD
A formal schedule of matters reserved for the Board is maintained and is subject to regular review.
The most important matters includes:
  • setting of long term objectives and strategies
  • approving preliminary announcements of results
  • approving annual budgets
  • approving major capital expenditure, acquisitions and disposals
  • establishing risk management policies
  • approving connected transactions
  • declaring and recommending the payment of dividends
  • appointing new directors
  • establishing Board committees
  • reviewing and monitoring of internal control and risk management
  • reviewing and monitoring the policies and practices on corporate goverance
  • approving major policies and guidelines
SENIOR LEADERSHIP TEAM ("SLT")
SLT members
  • Mr. Yip Tsz Hin
    (Deputy Chairman & Co-CEO)
  • Mr. Wong Yuk (Co-CEO)
  • Mr. Ho Sai Hou (CFO)
  • Mr. Kwong Kwok Chiu
 
  • Mr. Ip Kwan
  • Mr. Fung Ping Kwong
  • Ms. Yau Ching Man
  • Ms. Tse Yik Chu
Duties and responsibilities
  • 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

The Board, as the highest governing body, is collectively responsible for leading, planning and controlling the businesses of the Group, and also for performing the corporate governance duties and functions which are more specifically set out in the list of matters reserved for the Board. Mr. Ip Chi Shing is the Chairman of the Board and Mr. Yip Tsz Hin and Mr. Wong Yuk are the Co-Chief Executive Officers (the "Co-CEOs") of the Group. As disclosed in the section below, the Company establishes the Senior Leadership Team (“SLT”) and Mr. Yip Tsz Hin and Mr. Wong Yuk, the Co-CEOs, currently oversee the work of the SLT. The above structure is to ensure a clear distinction between the Chairman’s duty to manage the Board and the management’s duty to oversee the overall internal operation of the Group.

The Board has delegated to SLT with board management responsibilities including, but not limited to, formulating and implementing policies and business strategies, as well as supervising the performance of the Group’s different business segments. SLT currently comprises a total of seven members, four of which are executive directors of the Company, namely, Mr. Yip Tsz Hin, Mr. Wong Yuk, Mr. Ho Sai Hou and Mr. Kwong Kwok Chiu.

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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