Annual Report 2011 - QuamIR

Corporate Governance ReportREMUNERATION COMMITTEEThe Remuneration Committee was establishedwith its terms of reference prepared in accordancewith the provisions set out in the Code. The rolesand functions of the Remuneration Committeeis to make recommendation to the Board on theremuneration policy and structure for Directorsand senior management and to ensure that they arefairly rewarded for their individual contribution tothe Group’s overall performance, having regard tothe interests of shareholders of the Company. Theprincipal duties of the Remuneration Committeeinclude determining the specific remunerationpackages of all Executive Directors and seniormanagement as well as reviewing and approvingperformance-based remuneration by referenceto corporate goals and objectives resolved by theBoard from time to time. No Director or any of hisassociates should be involved in any decision as tohis own remuneration.During the year ended 31 March 2011, threeremuneration committee meetings were held andthe individual attendance of its members is set outbelow:–Independent Non-Executive DirectorsAttendanceDr. Leung Wai Cheung Chairman 4/4Mr. Chan Sing Fai Chairman (retired on 30 August 2010) 1/4Mr. Cai Wei Lun Member 3/4Mr. Zhang Qingkui Member (appointed on 31 January 2011) 0/4Executive DirectorsMr. Leung Ngai Man Member 2/4Mr. Yeung KitMember (resigned as a member of theremuneration committee on 30 August 2010) 1/4Mr. Sung Kin ManMember (appointed as a member of theremuneration committee 30 August 2010) 2/4AUDIT COMMITTEEThe written terms of reference include the authorityand duties of the Audit Committee and amongstits principal duties are the review and supervisionof the Company’s financial reporting process andinternal control procedures. In regard to thefinancial reporting process, the Audit Committeewould consider any significant items reflected inthe reports and accounts, and any matters thathave been raised by the Financial Controller of theGroup.During the year ended 31 March 2011, two auditcommittee meetings were held and the individualattendance of its members is set out below:–Independent Non-Executive DirectorsAttendanceDr. Leung Wai Cheung Chairman 2/2Mr. Chan Sing Fai Chairman (retired on 30 August 2010) 1/2Mr. Cai Wei Lun Member 2/2Mr. Zhang Qingkui Member (appointed on 31 January 2011) 0/2Annual Report 201125