notes to the financial statements - Investor Relations

CORPORATE GOVERNANCE
Annual Report 2011
CWT Limited (CWT or the Company) believes in having high standards of corporate governance and is committed to making sure
that effective self-regulatory corporate practices exist to protect the interests of its shareholders and maximise long-term shareholder
value.
In its aim to achieve the best practices in corporate governance, CWT subscribes to the Proposed Revised Code of Corporate
Governance (the Code) dated 22 November 2011, which forms a sound platform for supporting good governance and transparency
practices.
The Board is pleased to report that throughout the reporting period for the financial year ended 31 December 2011, CWT largely
complied with the Code’s principles and guidelines. This statement outlines CWT’s corporate governance practices with specific
reference to the principles and guidelines of the Code.
BOARD MATTERS
Board’s Conduct of Affairs (Principle 1)
The Board charts the long-term strategic direction and oversees the business affairs of the CWT Group. It assumes responsibility for
the Group’s overall strategic plans and key business initiatives, significant investments and major funding, and financial performance
reviews and corporate governance practices. The Board also determines the compensation policies for Senior Management and
monitors standards of performance and issue policy, both directly and through board committees, ensuring the Group’s compliance
with all laws and regulations as may be relevant to the business.
To support its role and assist in the execution of its responsibilities, the Board has established two board committees, namely, the
Nominating cum Remuneration Committee (NRC) and the Audit Committee (AC). The terms of reference and composition of each
board committee are described in the respective section on Board Membership and Audit Committee.
The Board meets regularly and holds at least four meetings a year, with ad-hoc meetings being convened when circumstances
require. Meetings via teleconference are permitted by the Company’s Articles of Association (the Articles). The frequency of meeting
and attendance of each Director at every board and board committee meeting are hereby disclosed.
No. of Board No. of Board No. of NRC No. of NRC No. of AC No. of AC
Meetings Meetings Meetings Meetings Meetings Meetings
Board of Directors
Held Attended Held Attended Held Attended
Loi Kai Meng 6 6 2 2 N.A. N.A.
Liao Chung Lik 6 6 N.A. N.A. 5 5
Loi Pok Yen 6 6 N.A. N.A. N.A. N.A.
Jimmy Yim Wing Kuen 6 6 2 2 5 5
Hu Jian Ping 6 4 2 2 N.A. N.A.
Tan Wee Liang 6 6 N.A. N.A. 5 5
Note: N.A. denotes Not Applicable
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