SOCAM Development

Audit Committee

Major roles and functions:
- To review the consolidated financial statements of the Group
- To review the accounting policies adopted by the Group and their implementation
- To review the effectiveness of the risk management and internal control systems
- To oversee the engagement of, services provided by and remuneration of the external auditor and its independence
- To review and monitor the effectiveness of the internal audit function
Composition:
- Mr. Chan Kay Cheung (Chairman)
- Mr. Lau Ping Cheung, Kaizer
- Mr. Wong Hak Wood, Louis
Terms of Reference :
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Remuneration Committee

Major roles and functions:
- To make recommendations to the Board on the policy and structure for remuneration of Directors and senior management
- To determine the remuneration package of individual Executive Director
- To review and approve performance-based remuneration of Executive Directors with reference to the corporate goals and objectives
Composition:
- Mr. Lau Ping Cheung, Kaizer (Chairman)
- Mr. Lo Hong Sui, Vincent
- Ms. Lo Bo Yue, Stephanie
- Mr. Chan Kay Cheung
- Mr. Wong Hak Wood, Louis
Terms of Reference :
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Nomination Committee

Major roles and functions:
- To review the structure, size and composition of the Board at least annually
- To make recommendations to the Board on candidates nominated for appointment or re-appointment as Directors in accordance with the Nomination Policy and on succession planning for Directors
- To make recommendations to the Board on membership of the Board Committees
- To assess the independence of Independent Non-executive Directors
- To review annually the time commitment required of Directors
- To review the Board Diversity Policy and monitor its implementation
Composition:
- Mr. Lo Hong Sui, Vincent (Chairman)
- Ms. Lo Bo Yue, Stephanie
- Mr. Chan Kay Cheung
- Mr. Lau Ping Cheung, Kaizer
- Mr. Wong Hak Wood, Louis
Terms of Reference :
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Finance Committee

Major roles and functions:
- To set overall financial objectives and strategies for the Group
- To adopt a set of financial policies for the Group and oversee its consistent application throughout the Group
- To review funding for investment projects / major capital expenditures to be undertaken and advise on the financing viability of the investment projects / major capital expenditures
- To monitor cash flow and review financing requirements of the Group and compliance of loan covenants
Composition:
- Mr. Chan Wai Kan, George (Chairman)
- Mr. Lee Chun Kong, Freddy
- Mr. Chan Kay Cheung
- Mr. Lau Ping Cheung, Kaizer
- Mr. Wong Hak Wood, Louis
Terms of Reference :
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Investment Committee

Major roles and functions:
- To review investment and disposal recommendations on target property projects and projects currently owned by the Group respectively
- To make recommendation to the Board as to whether the Group should acquire a property project or, as the case may be, dispose of a property project and if so, the terms, timing and strategy
- To review the overall investment / divestment strategy of the Group, make recommendation to the Board on any proposed change to the strategy, and to monitor its implementation
Composition:
- Mr. Lee Chun Kong, Freddy (Chairman)
- Mr. Chan Kay Cheung
- Mr. Lau Ping Cheung, Kaizer
- Mr. Wong Hak Wood, Louis
Terms of Reference :
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Executive Committee

Objectives:
- To map out the strategies and plans for SOCAM’s long-term development.
- To plan the execution and implementation of decisions and strategies adopted by the Board.
- To monitor the operating performance of SOCAM.
- To make major decisions regarding organisation and human resources policies and matters.
Major roles and functions:
- To monitor the macro business environment and market trends with respect to SOCAM’s current and potential business areas.
- To evaluate and set the business strategies for ensuring the long-term growth and competitiveness of SOCAM’s core businesses.
- To formulate corporate strategies for enhancing SOCAM’s long-term development.
- To plan and allocate resources, human, financial and otherwise, for the execution and implementation of the approved business plans and corporate development strategies.
- To review the execution of approved strategies and business plans.
- To review and approve acquisitions and disposals of assets in the ordinary course of business with investment cost / net book value not exceeding HK$25 million for any single transaction or a series of related transactions, other than notifiable transactions and connected transactions as defined by the Hong Kong Listing Rules.
- To review the operating performance and financial position of SOCAM and its strategic business units on a monthly basis and take appropriate remedial measures.
- To review and approve proposals regarding major organisation and human resources matters outside the scope of the Remuneration Committee.
- To implement the decisions taken by the Board.
Composition:
- Chairman: Mr. Freddy Lee
- Mr. Vincent H. S. Lo
- Mr. Raymond Ko
- Mr. Kevin Fong
- Mr. Gilbert Ng
- Mr. Adrian Lo
- Mr. Wilson Lam
- Secretary: Company Secretary
Terms of Reference :
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