Sunny Tew

CORPORATE GOVERNANCE STATEMENTEmployees whose remuneration exceeds S$150,000 and are immediate familymembers of a Director or the CEOThere is no employee who is related to a Director or the CEO whose remunerationexceeds S$150,000 in the Group’s employment for financial year ended 30 September2007.Five key executives :Foong Lee Heng, JasmineTan Yee Lee, EliseTan Yee WenOh Chin Hock, SamTew SunnyThe key executives fall within the remuneration band of below $250,000.Principle 10 : AccountabilityThe Board account to the shareholders through providing timely information relatingto the financial and operations of the Group as well as any issues faced by the Groupregularly and as and when required through announcement releases to the SGX-ST.Principle 11 : Audit CommitteeThe Audit Committee (“AC”) currently comprises the following three IndependentDirectors :Mr. Gui Kim Young @ Gui Kim Gan (Chairman)Mr. Ooi Seng SoonMr. Poon Hon Thang, SamuelThe AC met as necessary and performed the functions specified in its written Terms ofReference. The main Terms of Reference of the AC are :- reviews with the external auditors the audit plan and their audit report onevaluation of the system of internal controls and to monitor management’sresponse and actions to correct any noted deficiencies;- determines that no restrictions are being placed by management upon the workof external auditors;- reviews the financial statements of the Company and the consolidated financialstatements as well as the auditors’ report thereon;- reviews the appropriateness of half year and full year announcements prior tosubmission to the Board for adoption and release;- reviews interested person transactions;- evaluates the independence of external auditors and nominates them for reappointment;- has the authority to investigate any matter within its terms of reference.HG METAL MANUFACTURING LIMITED ANNUAL REPORT 200721