Annual Report 2016
81
Report of the Directors
Audit Committee
An Audit Committee has been established and the members of the Committee as at the date of this report are Mr. Cha Mou-Sing,
Payson, Mr. Yeung Ping-Leung, Howard, Mr. Ho Hau-Hay, Hamilton, Mr. Lee Luen-Wai, John and Mr. Liang Cheung-Biu, Thomas.
The principal responsibilities of the Audit Committee include the review and supervision of the Group’s financial reporting process
and risk management and internal control systems.
Directors’ Interests in Transactions, Arrangements or Contracts
Save as disclosed in the section headed “Connected Transactions” on pages 85 to 92 of this annual report and contracts amongst
group companies, no other transactions, arrangements or contracts of significance to which the Company or any of its
subsidiaries was a party and in which a Director of the Company and the Director’s connected entity had a material interest,
whether directly or indirectly, subsisted at the end of the year or at any time during the year.
Directors’ Interests in Shares, Underlying Shares and Debentures
As at 30 June 2016, interests of the Directors in shares, underlying shares and debentures of the Company and its associated
corporations which were recorded in the register to be kept by the Company under Section 352 of the Securities and Futures
Ordinance (“SFO”) are set out on pages 92 to 105.
Permitted Indemnity Provision
The Company’s Articles of Association provides that every Director is entitled to be indemnified out of the assets of the Company
against all losses or liabilities which he/she may sustain or incur in or about the execution of the duties of his/her office or
otherwise in relation thereto.
The Company and its listed subsidiaries have taken out and maintained directors’ liability insurance throughout the year, which
provides appropriate cover for the Directors and directors of the subsidiaries of the Group.
Directors’ Interests in Competing Businesses
During the year, according to the Listing Rules, the following Directors have interests in the following businesses which are
considered to compete or are likely to compete, either directly or indirectly, with the businesses of the Group other than those
businesses where the Directors of the Company were appointed as directors to represent the interests of the Company and/or
the Group:
Name of Director
Businesses which are considered to compete or
likely to compete with the businesses of the Group
Nature of
interest of
the Director
in the entity
Name of entity
Description of businesses
Dr. Cheng Kar-Shun, Henry
Chow Tai Fook Enterprises Limited
(“CTF”) group of companies
Property investment and development,
hotel operations, transport and
commercial aircraft leasing
Director
FSE Holdings Limited group of
companies
Property and carpark management
and landscaping
Director and
shareholder
International Entertainment
Corporation group of companies
Hotel operations
Director
Supreme Harvest Development Limited
group of companies
Property investment and development
Director
Silver City International Limited group
of companies
Property investment and food and
beverage operations
Director
Sunshine Dragon Group Limited group
of companies
Property investment
Director
