Annual Report - QuamIR

Corporate Governance Report (Continued)
Chairman and Chief Executive Officer
The roles of Chairman and Chief Executive Officer of the Company were
exercised by two different individuals. Mr. OEI Tjie Goan is the Chairman
and Mr. CHANG Li Hsien, Leslie is the Chief Executive Officer (“CEO”) of the
Company. Their responsibilities had been clearly set out and approved by the
Board. The Board considers that this arrangement facilitates the execution of
the Group’s business strategies and maximizes effectiveness of its operation.
The Board shall nevertheless review its structure from time to time and it will
consider the appropriate move to take should suitable circumstance arise.
Responsibilities of Directors
The Board is responsible for the leadership and control of the Group and is
collectively responsible for promoting the success of the Group by directing
and supervising the Group’s affairs and formulating business strategies with a
view to maximizing its financial performance and shareholders’ value.
All newly appointed Directors are given comprehensive documentations
on the business operations of the Group and regulatory and statutory
requirements of directors, together with briefing meetings with senior
executives of the Group. Directors are provided with continuous updates
on the latest changes in the Listing Rules, corporate governance practices
and other relevant laws and regulations and are encouraged to participate in
continuous professional development seminars to update their knowledge for
discharging directors’ responsibilities.
The Company has arranged appropriate liability insurance to indemnify the
Group’s Directors for their liabilities arising out of corporate activities. The
insurance coverage is reviewed on an annual basis.
Delegation by the Board
The management, consisting of the Executive Directors of the Company and
other senior executives, is delegated with responsibilities for implementing
the strategy and direction as adopted by the Board from time to time, and
conducting the day-to-day operations of the Group. Executive Directors and
senior executives meet regularly to review the performance of the businesses
of various business units of the Group as a whole, co-ordinate overall
resources and make financial and operation decisions. The Board also gives
clear directions as to their powers of management including circumstances
where management should report back, and will review the delegation
arrangements on a periodic basis to ensure that they remain appropriate to
the needs of the Group.
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