osim FA pdf

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Annual Report 2000
The Audit Committee meets periodically to review:
(i) with the assistance of the external auditors, the audit plan, their evaluation of our internal accounting controls and
audit report;
(ii) the assistance given by our officers to the internal and external auditors;
(iii) the scope and results of the internal audit procedures;
(iv) the financial statements of the Group, including the half year and full year results;
(v) our compliance with such functions and duties as may be required under the relevant laws or the Listing Manual; and
(vi) all interested person transactions to ensure that they are carried out on normal commercial terms and are not prejudicial
to the interest of our Shareholders;
Interested person transactions carried out during the financial year pursuant to the Shareholders’ mandate obtained in
accordance with Chapter 9A of the SGX-ST Listing Manual are as follows:
The Audit Committee had recommended to the Board of Directors the nomination of Arthur Andersen for re-appointment
as external auditors of the Company at the forthcoming Annual General Meeting.
Compensation Committee
The Compensation Committee, comprises 2 independent Directors, Mr Ong Kian Min and Mr Michael Kan Yuet Yun and
3 executive Directors, Dr Ron Sim Chye Hock, Mr Teo Chay Lee and Mr Leow Lian Soon. The Chairman of the Committee
is Mr Ong Kian Min.
The Committee will annually review and the independent Directors shall approve the remuneration packages and terms
of employment of each executive Director and each employee who is related to the executive Directors, substantial
Shareholders or Executive Officers to ensure that their remuneration packages are in line with the prevailing remuneration
levels and commensurate with their respective job scope and level of responsibility.
OSIM Share Option Scheme Committee
The OSIM Share Option Scheme Committee comprises 2 independent Directors, Mr Ong Kian Min, Mr Michael Kan Yuet
Yun and 2 executive Directors, Dr Ron Sim Chye Hock and Mr Teo Chay Lee. The Chairman of the Committee is
Mr Ong Kian Min.
CORPORATEGOVERNANCE
GROUP
2000 (S$’000) 1999 (S$’000)
Income
Sales 10, 744 8, 828
Service Fees - 22
Royalty Income
Expenses
188 -
Rental Expense and Service Fees 388 272
The main objective of the Committee is to assist the Board of Directors to implement and administer a share scheme to
enable the Company to give recognition to the contributions made by the employees and non-executive Directors.