Annual Report - QuamIR

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Corporate Governance Report (Continued) In respect of the year ended 31 December 2011, the Board considered the internal control system effective and adequate. No significant areas of concern that might affect the operational, financial, and compliance controls and risk management function of the Group were identified. The scope of this review covers the adequacy of resources, staff qualifications and experience, training programmes and budget of the Group’s accounting and financial reporting function. Price-sensitive information With respect to procedures and internal controls for the handling and dissemination of price-sensitive information, the Group has performed the following actions: (i) Management and relevant personnel are made aware of the Group’s obligations under the Listing Rules and the overriding principle that information which is expected to be price-sensitive and/or the subject of a major decision should be announced immediately. (i) (ii) Management and relevant personnel are required to conduct the Group’s affairs with close regard to the “Guide on Disclosure of Price-sensitive Information” and “Recent Economic Developments and the Disclosure Obligations of Listed Issuers” issued by the Stock Exchange in 2002 and 2008 respectively. (ii) (iii) The Group has established a Code for Securities Dealing applicable to those employees likely to have access to unpublished price-sensitive information. (iii) (iv) Members of the Group’s top management are identified and authorized to act as the Group’s spokespersons and respond to external enquiries. Directors’ Responsibility for the Financial Statements The Directors acknowledge their responsibility for preparing the financial statements for the year ended 31 December 2011 which give a true and fair view of the affairs of the Company and the Group and of the Group’s results and cash flows. In preparing the financial statements, the Directors have adopted generally accepted accounting standards in Hong Kong and suitable accounting policies and applied them consistently, made judgments and estimates that are prudent, fair and reasonable and prepared the financial statements on a going concern basis. (iv) The statement of the Company’s auditor about their reporting responsibilities on the financial statements of the Company is set out in the Independent Auditor’s Report on pages 68 to 69. 6869 24 HKC (Holdings) Limited • Annual Report 2011
Corporate Governance Report (Continued) Communication with Shareholders The Board believes regular and timely communication with shareholders forms part of the Group’s effort to help our shareholders understand our business better. Copies of the annual reports and interim reports of the Company are distributed to its shareholders in accordance with statutory and regulatory requirements and also to interested parties recorded in the Company’s mailing lists. The publications of the Company, including financial reports, circulars and announcements, are also available on the Company’s website at www.hkcholdings.com. www.hkcholdings.com The Company acknowledges that general meetings are good communication channel with the shareholders. At the general meeting, each substantially separate issue is considered by a separate resolution, including election of individual directors, and the poll procedures are clearly explained. The CEO attended the 2011 annual general meeting in the absence of the Chairman of the Board due to the Chairman’s prior business engagement. Other members of the Board, the Chairmen of the relevant Board Committees and the external auditor of the Company also attended the annual general meeting to inter-face with, and answer questions from the shareholders. Shareholders can send their enquiry to the Board by the following ways: Post: 9/F., Tower 1, South Seas Centre, 75 Mody Road Tsimshatsui East, Kowloon, Hong Kong 75 Email: info@hkcholdings.com info@hkcholdings.com Fax: (852) 2722 6266 (852) 2722 6266 • 25
Page 1 and 2: HKC (HOLDINGS) LIMITED (incorporat
Page 3 and 4: Contents 2 Corporate Information
Page 5 and 6: Corporate Information (Continued)
Page 7 and 8: Chairman’s Statement (Continued)
Page 9 and 10: Chairman’s Statement (Continued)
Page 11 and 12: Management Discussion and Analysis
Page 17 and 18: Corporate Governance Report (Contin
Page 25: Corporate Governance Report (Contin
Page 29 and 30: Directors and Senior Management (Co
Page 35 and 36: Report of the Directors (Continued)
Page 71 and 72: Independent Auditor’s Report (Con
Page 73 and 74: Consolidated Statement of Comprehen
Page 75 and 76: Consolidated Balance Sheet (Continu
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Consolidated Statement of Changes i
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Consolidated Statement of Changes i
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Notes to the Consolidated Financial
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Principal Subsidiaries, Associated
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Five-Year Financial Summary 2011 2
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Schedule of Principal Properties (C
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HKC (HOLDINGS) LIMITED 9/F., Tower
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Annual Report - QuamIR

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