24
HG METAL MANUFACTURING LIMITED
ANNUAL REPORT 2014
CORPORATE
GOVERNANCE
The NC assesses the effectiveness of the Board as a whole and its board committees and the
contribution by the Chairman and each individual director to the effectiveness of the Board on an
annual basis.
In its assessment of the Board’s and its board committees effectiveness, the NC takes into
consideration the frequency of the board meetings and the board committee meetings, the rate at
which issues raised are adequately dealt with and the reports from the various committees. In the
like manner, the NC is able to assess the contribution of each individual director to the effectiveness
of the Board.
The NC has conducted a Board’s performance evaluation as a whole in FY2014, participated by all
directors. The assessment parameters are broadly based on the attendance records at the meetings
of the Board and the relevant board committees, intensity of participation at meetings, sense of
independence, quality of contributions and workload requirements.
1.11 Access to Information
Principle 6: In order to fulfil their responsibilities, directors should be provided with
complete, adequate and timely information prior to board meetings and on an ongoing
basis so as to enable them to make informed decisions to discharge their duties and
responsibilities.
Directors receive a regular supply of information from management about the Group so that they are
equipped to play as full a part as possible in board meetings. Detailed board papers are circulated
to all directors prior to the scheduled meetings so that members may better understand the issues
beforehand, allowing for more time at such meetings for questions that members may have. The
board papers provided include background or explanatory information relating to matters to be
brought before the Board. A presentation is made to the Directors at the board meeting on budgets,
forecasts and variances from the budget disclosed.
All directors have separate and independent access to the advice and services of the company
secretary. The company secretary and/or their representatives attends the Board and board
committee meetings and assists the Chairman of the Board and board committee meetings in
ensuring that the relevant procedures are followed and that applicable rules and regulations are
complied with as well as ensuring good information flow within the Board and its committees,
between senior management and the non-executive directors, facilitating orientation and assisting
with professional development as required. The appointment and removal of the company secretary
is a matter which is approved by the Board.
The Board also has separate and independent access to the Company’s senior management.
Each director has the right, at the Company’s expense, to seek independent legal and other
professional advice concerning any aspect of the Group’s operations or undertakings in order to
fulfill their duties and responsibilities as directors.
