Remuneration Committee
Composition
The Remuneration Committee of the Company was established in 2005. The Remuneration Committee currently comprises of five members including the Chairman of the Board, the Chief Executive and three Independent Non-executive Directors, namely:
- Mr. Chung Pui Lam (chairman)
- Mr. Walujo Santoso, Wally
- Mr. Lo Wai Tung Welman
- Mr. Lu Wing Chi, Jesse
- Mr. Lambert Lu
Role and Function
The Remuneration Committee is responsible for, amongst other matters, establishing a formal and transparent procedure for developing remuneration policies and overseeing the remuneration packages for the Executive Directors and Non-executive Directors and ensuring that no Director will be involved in deciding his own remuneration. The Remuneration Committee has adopted the operation model where it determines the remuneration packages of individual Executive Directors and makes recommendations to the Board on the remuneration packages of individual Non-executive Directors.
In determining the Directors' emoluments, the Remuneration Committee takes into consideration factors such as the qualifications, experience, time commitment, responsibilities, performance, contribution and remuneration of the Directors for previous years, the Company’s profitability, emoluments paid by comparable companies and employment conditions elsewhere in the Group.
Terms of Reference