New World Development Company Limited
214
Corporate Governance Report
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.
All Directors are encouraged to participate in continuous professional development activities to develop and refresh their
knowledge and skills. From time to time, the Company has arranged in-house trainings for the Directors in the form of seminars
and reading materials. A summary of training received by the Directors for the year ended 30 June 2016 according to the records
provided by the Directors is as follows:
Name of Directors
Type of Continuous Professional Development
Training on corporate
governance, regulatory
development and
other relevant topics
Attending corporate
events or visits
Executive Directors
Dr. Cheng Kar-Shun, Henry
✔
–
Dr. Cheng Chi-Kong, Adrian
✔
✔
Mr. Chen Guanzhan
✔
✔
Ms. Ki Man-Fung, Leonie
✔
✔
Mr. Cheng Chi-Heng
✔
–
Ms. Cheng Chi-Man, Sonia
✔
–
Mr. Au Tak-Cheong
✔
✔
Non-executive Directors
Mr. Doo Wai-Hoi, William
✔
–
Mr. Cheng Kar-Shing, Peter
✔
–
Independent Non-executive Directors
Mr. Yeung Ping-Leung, Howard
✔
–
Mr. Cha Mou-Sing, Payson
✔
–
Mr. Cha Mou-Zing, Victor
(alternate to Mr. Cha Mou-Sing, Payson)
✔
–
Mr. Ho Hau-Hay, Hamilton
✔
–
Mr. Lee Luen-Wai, John
✔
–
Mr. Liang Cheung-Biu, Thomas
✔
–