Finance & Administration Department
The Board of Directors of the company has the scope of duties and responsibilities on the following matters:
- Control and supervise the business operation of the Company to strictly adhere to applicable laws, objectives, rules, articles of association and resolutions of the meeting of shareholders, maintain the interests of the Company and its shareholders according to the good corporate governance principles and disclose information to all shareholders and stakeholders on an adequate, correct, complete and transparent basis
- Define vision, mission, business plans and strategies of the Company; review such vision, mission and strategies regularly and grant approval at least every year to ensure that vision, mission and strategies are in line with the Company’s business operation plan.
- Consider and approve annual budgets for investment as well as supervise the utilization of the Company’s resources.
- Ensure that the Company has a suitable compensation system or mechanism for senior executives to induce short term and long term motivation.
- Arrange for an annual ordinary meeting of shareholders within 4 (four) months from the last day of the fiscal year of the Company and if necessary, arrange an extraordinary meeting of shareholders.
- Set up efficient and effective accounting system, financial report, auditing, internal control and internal audit system.
- Ensure that the Company puts in place proper systems to communicate with each group of shareholders and stakeholders
- Prepare a balance sheet, cash flow statement and profit and loss statement as the last day of fiscal year of the Company and propose same to the meeting of shareholders at the annual ordinary meeting for consideration and approval of the said balance sheet, cash flow statement and profit and loss statement. The Board of Directors shall arrange for the auditor to complete the auditing prior to propose same to the meeting of shareholders
- Arrange for a report on important financial and general information in a correct, complete and sufficient manner to shareholders and confirm the verification of information reported
- Monitor, supervise and solve problems arising from transactions which may lead to conflicts of interests and related transactions.
- Establish proper risk management and ensure that the management has effective systems or procedures for risks management.
- Ensure that the Company has proper internal control, internal audit, financial control system, operation, compliance, risk management and risk management control.
|Charter of the Board of Directors|