NewWorld Development Company Limited
CORPORATE GOVERNANCE REPORT
240
Corporate Governance Functions
The Board is responsible for performing the corporate governance duties of the Company including:
(a) to develop and review the Company’s policies and practices on corporate governance;
(b) to review and monitor the training and continuous professional development of the Directors and
senior management;
(c) to review and monitor the Company’s policies and practices in compliance with legal and
regulatory requirements;
(d) to develop, review and monitor the code of conduct and compliance manual (if any) applicable to
employees and the Directors; and
(e) to review the Company’s compliance with Appendix 14 of the Listing Rules (Corporate
Governance Code and Corporate Governance Report).
Board Meetings
Regular Board meetings are held at least four times a year with at least 14 days’ notices and additional
meetings with reasonable notices are held as and when the Board considers appropriate. The
Company Secretary assists the Chairman in preparing agenda for each meeting. Draft agenda for each
Board meeting is circulated to all Directors to enable them to include other matters into the agenda.
Agenda accompanying board papers are sent to all Directors at least three days before each regular
Board meeting. Board decisions are voted upon at the Board meetings. The Company Secretary
records all matters considered by the Board, decisions reached and any concerns raised or dissenting
views expressed by the Directors. Minutes of meetings are kept by the Company Secretary with
copies circulated to all Directors for information and records.
Directors’ Training
Each newly appointed Director is provided with the necessary induction and information to ensure
that he/she has a proper understanding of the Company’s operations and businesses as well as his/
her responsibilities under the relevant statues, laws, rules and regulations. From time to time, the
Company Secretary also provides the Directors with updates on latest development and changes in
the Listing Rules and other relevant legal and regulatory requirements.
In addition, all Directors are provided with monthly updates on the Company’s performance, position
and prospects to enable the Board as a whole and each Director to discharge their duties.
