Annual Report 2014
77
The year of initial appointment and last re-election/scheduled re-election of Directors are set out below.
Director
Age
#
Position
Date of Initial
Appointment
No. of Years
as Director
Appointment
Period under
Current Chairman
(At 31 Dec 2014)
Date of Last/
Scheduled
Re-election
Kin
Chan
48 Chairman 1 October 2004
+
10 years
9 years
29 April 2015
Wang
Ya Lun
Allen
38 Member 26 February 2015 < 1year
< 1 year
29 April 2015
Vince
Feng
42 Member
1 March 2008
6 years
6 years
23 April 2014
Liong
Tong Kap 60 Member
12 April 2001
^
13 years
10 years
24 April 2013
Li
Yick Yee Angie 41 Member 11 August 2006 8 years
8 years
23 April 2014
Daniel
Budiman
47 Member 5 November 2012 2 years
2 years
29 April 2015
#
As at date of this Annual Report
+
Appointed Chairman of Board on 1 May 2005
^
Deemed as an independent Director from 1 September 2009
Key information regarding Directors are disclosed on pages 85 to 87 of this Annual Report.
Remuneration Committee (“RC”)
Principle 7: Formal and transparent procedure for fixing remuneration packages of directors
Principle 8: Remuneration of directors should be adequate but not excessive
Principle 9: Remuneration policy, level and mix of remuneration and procedure for setting remuneration
The RC, meets annually, is currently comprised of the following 3 non-executive members, two of whom are
independent:
Vince
Feng
– Chairman (independent and non-executive)
Liong
Tong Kap (independent and non-executive)
Li
Yick Yee Angie (non-executive)
The RC terms of reference are to review and recommend to the Board the framework for remuneration of
the Directors taking into consideration industry practices, level of contribution/responsibility of the Directors
and corporate performance. Save and except for Directors’ fees which are paid in arrears after approval
by shareholders at the Annual General Meeting, no other forms of remuneration are paid to the Directors. As
the Company has no direct staff and is managed by the Investment Manager via a Management Agreement,
the RC reviews only the fees of the Board Members. In line with the greater responsibilities of the Directors,
the following proposed schedule of Directors’ fees is recommended for approval by the Shareholders at the
forthcoming Annual General Meeting. The last 2 increases were approved by Shareholders in April 2010 and
April 2013. There is no change to the schedule of Directors’ fees proposed for the year ended 31 December 2014.
