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Audit Committee
The Company established its Audit Committee with written terms of reference on 16th September, 1998. The current written terms of reference are available below.

The Audit Committee reports to the Board and holds regular meetings to assist the Board in discharging its responsibilities for effective financial reporting controls, risk management and internal control. The Committee monitors the integrity of the Company’s financial statements, annual report and accounts and half-year report and reviews significant financial reporting judgments contained in them. It reviews, makes recommendations and reports to the Board on findings relating to the financial statements, reports and accounts, risk management and internal control systems and compliance issues. The Committee also oversees the Company’s relationship with the external auditor, reviews auditor’s letter of engagement and makes recommendations to the Board on the appointment and re-appointment of external auditor. It is empowered to review and monitor the external auditor’s independence and objectivity and the effectiveness of the audit process in accordance with applicable standards. It reviews external auditor’s management letter and any material queries raised by the auditor to the management and the management’s response. The Committee meets at least four times a year and is provided with sufficient resources enabling it to discharge its duties.

The Audit Committee currently comprises three members, all of them being Non-Executive Directors with the majority of them being Independent Non-Executive Directors.
 
Steven Ong Kay Eng, Chairman
Gilbert Lui Wing Kwong
Peter Wong Man Kong, BBS, JP


TERMS OF REFERENCE