The Eight (08) Essential Core Principles of Corporate Governance:

Principle 1 : Establishment of the Charter of the Board of Directors

The Charter of the Board of Directors stipulates the responsibilities of the Board Members and the framework required for the effective discharge of the said responsibilities. The said Charter constitutes the following key elements:

1.1 Constitution of the Board
There shall be a clear division of responsibilities at the head of the Company, which ensures a balance of power and authority between the running of the Board and the executive responsibility for the running of the Company’s business. No ONE individual shall have unfettered powers of discretion. more

1.2 Appointments to the Board
There shall be a formal, rigorous and transparent procedure for the appointment of new Directors to the Board, in order to promote investor understanding and confidence in that process. more

1.3 Access to Information
The Board and key executives shall be provided information in a timely manner, in a form and of a quality appropriate to enable it to discharge its duties. more

1.4 Performance Evaluation & Professional Development
The Board shall undertake a formal and rigorous annual evaluation of its own collective and individual performance, the key executives of the management and that of its committees. more

1.5 Re-election
All directors shall be submitted for re-election at regular intervals subject to their consistent satisfactory performance. The Board shall ensure planned and progressive refreshing of the Board. more


Principle 2 Remunerate Fairly and Responsibly

Ensure that the level and composition of remuneration is sufficient and reasonable and that its relationship to corporate and individual performance is defined. No Director shall be involved in deciding his or her own remuneration. more

Principle 3 Accountability, Audit & Safeguarding the Integrity in Financial Reporting

Formulate a structure to independently verify and safeguard the integrity of the Company’s financial reporting. The Board shall establish formal and transparent arrangements for considering how they shall apply the financial reporting and internal control principles and maintaining an appropriate relationship with the Company’s auditors. more

Principle 4 Promote Ethical and Responsible Decision-Making

The Company shall clarify the standards of ethical behaviour required of Company Directors and Key Executives (ie. officers and employees who have the opportunity to materially influence the integrity, strategy and operation of the business and its financial performance) and encourage the observance of those standards. The Company shall also publish its position concerning the issue of Board and Employee trading in Company Securities. more

Principle 5 Recognise and Manage Risk

Establish a sound system of Internal Control, Risk Management and Internal Audit designed to identify, assess, monitor and manage risk, inform investors of material changes to the Company’s risk profile and to enhance the environment for identifying and capitalising on opportunities to create value. more

Principle 6 Respect the Rights of Shareholders

The Company should respect the Rights of Shareholders and facilitate the exercise of those rights by engaging in regular and effective communication with shareholders and encourage effective participation at general meetings. more

Principle 7 Recognise the Legitimate Interests of Stakeholders

Recognize legal and other obligations to all legitimate stakeholders including obligations to non-shareholder stakeholders, such as employees, clients/customers, the community as a whole and demonstrate its commitment to appropriate corporate practices. more

Principle 8 Promote Timely and Balanced Disclosure of all Material Matters Concerning the Company

The Company shall put in place a mechanism designed to ensure compliance with the disclosure requirements of all laws and regulations, including those stipulated in the Listing Rules of the CSE, so that all investors have adequate and timely access to material information concerning the Company, including the Company’s financial situation, performance, ownership and governance. Company announcements should be factual and presented in a clear and balanced way. “Balance” requires disclosure of both positive and negative information. more