NewWorld Development Company Limited
REPORT OF THE DIRECTORS
82
CONNECTED TRANSACTIONS
(continued)
The price and terms of the continuing connected transactions mentioned in paragraphs (3) to (9) above were determined
in accordance with the pricing policies and guidelines as set out in the relevant announcements of the Company. These
continuing connected transactions have been reviewed by the Independent Non-executive Directors of the Company
who have confirmed that the transactions have been entered into:
(a) in the ordinary and usual course of business of the Group;
(b) on normal commercial terms or better; and
(c) in accordance with the relevant agreements governing them on terms that are fair and reasonable and in the
interests of the shareholders of the Company as a whole.
The Company’s auditor was engaged to report on the Group’s continuing connected transactions stated in paragraphs (3)
to (9) above in accordance with Hong Kong Standard on Assurance Engagements 3000 “Assurance Engagements Other
Than Audits or Reviews of Historical Financial Information” and with reference to Practice Note 740 “Auditor’s Letter on
Continuing Connected Transactions under the Hong Kong Listing Rules” issued by the Hong Kong Institute of Certified
Public Accountants. The auditor has issued his unqualified letter containing his findings and conclusions in respect of the
continuing connected transactions disclosed by the Group in accordance with paragraph 14A.56 of the Listing Rules. A
copy of the auditor’s letter has been provided by the Company to the HKEx.
Save as disclosed above, a summary of significant related party transactions that did not constitute connected
transactions made during the year was disclosed in note 46 to the financial statements.
