TERMS OF REFERENCE OF NOMINATION AND REMUNERATION COMMITTEE

  1. OBJECTIVES

    • The Nomination and Remuneration Committee (“Committee”) is entrusted with the task of identifying qualified individuals to serve as members of the Board of Directors (“Board”) and recommending such candidates for appointment to the Board and Board Committees. The ultimate decision as to who shall be appointed should be the responsibility of the full Board after considering the recommendations of the Committee.
    • The Committee shall conduct periodic evaluation to assess the effectiveness of the Board as a whole, Board Committees and contribution of individual Directors, including Independent Directors.
    • The Committee is to deliberate and ensure that the Executive Directors and Chief Financial Officer are fairly rewarded for their individual contributions to the Company’s overall performance and the levels of remuneration should be sufficient to attract and retain the Executive Directors and Chief Financial Officer to run the Company successfully. The Committee’s recommended remuneration for the Executive Directors and Chief Financial Officer shall be presented to the Board for approval.
    • The Committee shall also carry out such duties that may be delegated by the Board.