/ . 3 2
E U R O S P O R T S G L O B A L L I M I T E D
Apart from the matters that are reserved for the Board’s approval, the Board approves the following:
•
Strategies and objectives of the Group;
•
Annual budgets and business plans;
•
Announcements of half year and full year results;
•
Releases of annual reports;
•
Convening of shareholders’ meetings; and
•
Commitments to terms loans and lines of credits from banks and financial institutions.
Tr a i n i ng o f d i r e c t o r s
The Company has an open policy for professional training for all directors. The Company encourages directors to attend the
relevant courses and training programmes and the cost incurred will be borne by the Company.
The Company will regularly organize internal trainings for the directors, which include technical training on the Company’s
products.
I nduc t i on , b r i e f i ng s , upda t e s t o d i r e c t o r s i n F Y201 5
A formal letter of appointment is provided to every new director. The formal letter of appointment indicates the time
commitment required and the roles and responsibilities of directors.
All new directors were given appropriate briefings when they were first appointed to the Board. All new directors appointed
to the Board were briefed to ensure that they are familiar with the Company’s business, operation, governance practice and
regulatory requirement. The directors are provided with continuing briefings from time to time and are kept updated on
relevant laws and regulations, including directors’ duties and responsibilities, corporate governance and developing trends,
insider trading and financial reporting standards so as to enable them to properly discharge their duties as members of the
Board or Board Committees. In addition, the external auditors briefed the directors at least annually to keep the directors
abreast of changes to accounting standards and issues which have a direct impact on financial statements or when necessary
when these changes may be significant and/or substantial. To keep the directors abreast of industry trends and issues, press
releases which were relevant to the Group’s business are circulated to the directors.
The directors can request for further explanations, briefings or information on any aspect of the Company’s operation or
business issues from the Management.
boa r d Compo s i t i on and gu i danc e
Principle 2: There should be a strong and independent element on the board, which is able to exercise objective judgement
on corporate affairs independently, in particular, from the management and 10% shareholders. no individual or small
group of individuals should be allowed to dominate the board’s decision making.
Boa r d s i z e and boa r d compo s i t i on
The present Board comprises five members. There is strong and independent element on the Board. Of the five members,
three are Non-Executive Independent Directors.
On an annual basis, the Nominating Committee reviews the size and composition of the Board and Board Committees
and the skills and core competencies of their members to ensure an appropriate balance of skills and experience. These
competencies include accounting and finance, banking, business acumen, customer based knowledge, familiarity with
regulatory requirements, industry knowledge, risk management knowledge, management experience, and strategic planning
experience.
CorPoraTE
goVErnanCE rEPorT
