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HG METAL MANUFACTURING LIMITED
ANNUAL REPORT 2014
DIRECTORS’
REPORT
There was no change in any of the above-mentioned interests in the Company between the end of the
financial year and 21 January 2015.
Except as disclosed in this report, no director who held office at the end of the financial year had interests
in shares, share options, warrants or debentures of the Company, or of related corporations, either at the
beginning of the financial year, or date of appointment if later, or at the end of the financial year.
Directors’ contractual benefits
Except as disclosed in the financial statements, since the end of the previous financial year, no director of
the Company has received or become entitled to receive a benefit by reason of a contract made by the
Company or a related corporation with the director, or with a firm of which the director is a member, or with
a company in which the director has a substantial financial interest.
Share options
There were no share options granted by the Company during the financial year.
There were no shares issued during the financial year by virtue of the exercise of options to take up unissued
shares of the Company.
There were no unissued shares of the Company under options as at the end of the financial year.
Audit and risk committee
The Audit and Risk Committee (ARC) carried out its functions in accordance with section 201B(5) of the
Singapore Companies Act, Chapter 50, including the following:
• Reviewed the audit plans of the internal and external auditors of the Group and the Company, and
reviewed the internal auditor’s evaluation of the adequacy of the Company’s system of internal
accounting controls and the assistance given by the Group and the Company’s management to the
external and internal auditors
• Reviewed the quarterly and annual financial statements and the auditor’s report on the annual financial
statements of the Group and the Company before their submission to the board of directors
• Reviewed effectiveness of the Group and the Company’s material internal controls, including financial,
operational and compliance controls and risk management via reviews carried out by the internal auditor
• Met with the external auditor, other committees, and management in separate executive sessions to
discuss any matters that these groups believe should be discussed privately with the ARC
• Reviewed legal and regulatory matters that may have a material impact on the financial statements,
related compliance policies and programmes and any reports received from regulators
