Corporate Governance - Mewah Group
Corporate Governance - Mewah Group
Corporate Governance - Mewah Group
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MEWAH INTERNATIONAL INC.ANNUAL REPORT 2011<strong>Corporate</strong> <strong>Governance</strong>Dealings in SecuritiesThe <strong>Group</strong> has adopted a Best Practice Code – Trading inCompany’s Securities. Directors and key senior executives of the<strong>Group</strong> are prohibited from dealing in the Company’s shares twoweeks before the announcement of <strong>Group</strong>’s first quarter, secondquarter and third quarter results and one month before theannouncement of full year results, and up to a day after the dateof the announcement of the results. Additionally, all directors ofthe <strong>Group</strong> and employees are reminded not to trade in situationswhere the insider trading laws and rules would prohibit trading.The directors’ interests in shares of the Company during the yearare found on pages 44 to 45 of this Report.Interested Person TransactionsThe Company has established procedures to ensure that alltransactions with interested persons are reported on a timelymanner to the AC and that the transactions are carried outon a normal commercial terms and will not be prejudicial tothe interests of the Company and its minority shareholders.The Company’s disclosures in respect of interested persontransactions for the financial year ended 31 December 2011 areas follows:Name of Interested PersonAggregate value of all IPT during the periodunder review (excluding transactionsless than SGD100,000 and transactionsconducted under shareholders’ mandatepursuant to Rule 920)FY 2011US$’000Aggregate value of all IPTconducted under shareholders’mandate pursuant to Rule 920(excluding transactions less thanSGD100,000)FY 2011US$’000Prelude Gateway Sdn. Bhd. Nil 2,486Anthola Insurance Agencies Sdn. Bhd. Nil 673Perfect Venue Sdn. Bhd. Nil 59Ecolex Sdn. Bhd. Nil 37,270Capital Paradise Sdn. Bhd. Nil 59Containers Printers Pte Ltd Nil 10,357Choon Heng Transport & Warehousing Pte Ltd Nil 313Nature International Pte Ltd Nil 124,997AGF Insurance Agencies Sdn. Bhd. 1,046 NilExpertway (M) Sdn. Bhd. 1,485 NilMr Cheo Seng Jin 430 NilMr Cheo Tiong Choon 430 NilInternational Food Corporation Ltd 285 NilKent Holidays (S) Pte Ltd 367 NilStatement by Audit Committee and Board of DirectorsThe <strong>Group</strong> has complied with Rule 712 and Rule 716 of the Listing Manual issued by Singapore Exchange Securities Trading Limitedin relation to its auditors.42
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