United Energy Group Limited - HKExnews

UNITED ENERGY GROUP LIMITED
Corporate Governance Report
Remuneration Committee
With effect from 17 July 2006, a remuneration committee has been set up with written terms of reference to review
the remuneration package, performance-based remuneration and termination compensation of directors and senior
management of the Group. The remuneration committee comprises Mr. Zhu Chengwu, Mr. Chau Siu Wai and Ms Zhang
Meiying. It is chaired by Mr. Zhu Chengwu.
The major responsibilities of the Remuneration Committee are to make recommendation to the Board on the Company’s
policy and structure for remuneration of Directors and senior management, to determine remuneration packages of all
executive Directors and senior management including benefits in kind, pension rights and compensation payments.
The Remuneration Committee takes into consideration on factors such as salaries paid by comparable companies, time
commitment and responsibilities of the Directors and senior management.
The Remuneration Committee held a meeting on 26 April 2010 at which all committee members were present. At the
meeting, the Remuneration Committee reviewed and discussed the remuneration policy for 2010, the remuneration
package and bonus arrangements of the Directors and senior management for 2010.
Nomination of Directors
Although the Board has not established a nomination committee, as mentioned in the CG Report contained in the last
annual report, the function of nomination committee has been performed by the Board. To maintain high quality of the
Board with a balance of skill and experience, the Board identifies individuals who fulfill criteria of the Company. When
assessing the quality of the individual, the Board makes reference to his experience, qualification, integrity and other
relevant factors.
Responsibilities and Remuneration of External Auditors
The statement of the external auditors of the Company, Messrs. RSM Nelson Wheeler, about their reporting responsibilities
on the financial statements of the Group is set out in the Independent Auditor’s Report on page 25 to 26.
During the 9 months period, remuneration paid to the Company’s auditors, Messrs. RSM Nelson Wheeler, is as follows:
Services rendered:
HK$
– audit services 950,000
– non-audit service 704,000
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