2004 - Hiap Teck Venture Berhad
2004 - Hiap Teck Venture Berhad
2004 - Hiap Teck Venture Berhad
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The Company’s Articles of Association provides that all<br />
directors are required to submit themselves for reelection<br />
at least once every three years.<br />
The Company is entitled to the service of the Company<br />
Secretary to ensure the appointment of each of its<br />
Director is properly made.<br />
Mr. Yeoh Chong Keat has been appointed the Senior<br />
Independent Non-Executive Director of the Board to<br />
whom concerns from the shareholders relating to the<br />
Company may be conveyed.<br />
Directors’ Remuneration<br />
The Board formed a Remuneration Committee on<br />
24 September 2003. The members of the Remuneration<br />
Committee are as shown below.<br />
The Remuneration Committee is responsible for<br />
recommending to the Board the remuneration packages<br />
of the Executive Directors, whilst the Board as a whole<br />
determines the remuneration of the Non-Executive<br />
Directors. The individual Director concerned does not<br />
participate in the discussion of his or her own<br />
remuneration.<br />
It is the policy of the Committee to structure the<br />
remuneration of the Executive Directors so as to link his<br />
rewards to the Group’s performance whilst the<br />
remuneration of the Non-Executive Directors is<br />
determined in accordance with their experience and the<br />
level of responsibilities assumed. Fees payable to all<br />
Directors are proposed at the Annual General Meeting for<br />
the shareholders’ approval.<br />
Subsequent to the establishment of the Remuneration<br />
Committee, the members of the Remuneration<br />
Committee have met once to review and discuss on the<br />
remuneration of the Directors. The Committee, having<br />
determined on the respective remuneration of the<br />
Executive and Non-Executive Directors, recommended<br />
its proposals to the Board for approval.<br />
Remuneration Committee<br />
NAME DESIGNATION DIRECTORSHIP<br />
Tan Sri Dato’ Alwi bin Jantan Chairman Independent Non-Executive Director<br />
Cheah Shu Boon Member Non-Independent<br />
Non-Executive Director<br />
Kua Hock Lai Member Managing Director<br />
Yeoh Chong Keat Member Independent Non-Executive Director<br />
The following are the remuneration bands of the Directors:<br />
EXECUTIVE<br />
NON-EXECUTIVE<br />
REMUNERATION BANDS DIRECTORS DIRECTORS<br />
RM50,000 and below - 7*<br />
RM200,001 – RM250,000 3 -<br />
RM3,450,001 RM3,500,000 1 -<br />
* Inclusive of fees paid to an alternate Director during her office as Director for the<br />
Financial Year ended 31 July 2003.<br />
10 HIAP TECK VENTURE BERHAD