All Executive Directors are members of the Executive Committee.  The Executive Committee of the Board meets with delegated authority of the Board of Directors.  The duties and functions of the Executive Committee mainly are:

1. To review the corporate and financial planning, investment and operation strategy of the Group and make recommendations to the Board;
2. To review, approve and enter into transactions of revenue nature and to review and decide on day to day operational and management issues.
3. To execute board decisions and monitor the progress;
4. To communicate board decisions and guideline to the management and report back to the Board management proposals and performance;
5. To ensure the due compliance of the Group with legal and regulatory requirements;
6. To review and decide the financial, accounting and treasury policies; and
7. To analyze financial, legal, operational studies of investment and divestment opportunities before putting forward to the Board.

The Remuneration Committee, which comprises majority of independent non-executive directors, was established on 21st July, 2005.  The duties and functions of the Remuneration Committee mainly are:

1. To review and consider the existing remuneration package of senior management and individual executive directors;
2. To make recommendations to the Board on remuneration policy and structure for all directors and senior management;
3. To determine the specific remuneration packages of all executive directors and senior management;
4. To review and approve performance-based remuneration by reference to corporate goals and objectives resolved by the Board from time to time; and
5. To ensure that no director or any of his associates is involved in deciding his own remuneration.

The Audit Committee which comprised of only independent non-executive directors, was established pursuant to the board meeting held on 2nd June, 1999.  The primary duties of the Audit Committee include but are not limited to the following:

• To make recommendation to the Board on the appointment, reappointment and removal of external auditor, and to approve the remuneration and terms of engagement of the external auditors;
• To review and monitor the external auditor’s independence and objectivity and the effectiveness of the audit process in accordance with applicable standard;
• To review interim and annual financial statements before submission to the Board;
• To review the Company’s financial control and risk management systems; and
• To ensure the Board will provide timely response to the issues raised in the external auditor’s management letter.