Remuneration Committee

HomeRemuneration Committee

Membership

Directors

Yap Koon Roy Chairman
Chong Peng Khang Member
Low Kim Hock Member

Terms of Reference

1. Objectives

The principal objective of the Remuneration Committee is to assist the Board of Directors in their responsibilities in assessing the remuneration packages of the Executive Directors, Senior Management and Non-Excutive Directors.

2. Composition of members

The Board of Directors shall elect the Remuneration Committee members from amongst themselves, composed wholly or mainly of Non-Executive Directors. The term of office of the Remuneration Committee shall be for a period of three (3) years and may be re-nominated and appointed by the Board of Directors from time to time.

3. Chairman

The Chairman of the Remuneration Committee shall be elected from amongst the Remuneration Committee members. The Chairman of the Committee shall be approved by the Board of Directors.

In the absence of the Chairman, the members can elect from amongst themselves the Chairman for the Meeting.

4. Secretary

The Secretary of the Remuneration Committee shall be Hock Heng’s Secretary.

5. Meetings

The Remuneration Committee may meet together for the despatch of business, adjourn and otherwise regulate their meetings, at least once a year or more frequently as deemed necessary. The Chairman may call for additional meetings at any time at the Chairman’s discretion.

The Secretary shall on the requisition of the members of the Remuneration Committee summon a meeting of the Remuneration Committee except in the case of an emergency, reasonable notice of every Remuneration Committee meeting shall be given in writing.

6. Quorum

A quorum shall consist of two (2) members, one (1) of whom shall be an Independent Director.

7. Authority

The Remuneration Committee shall, in accordance with a formal and transparent procedure or process or policy on Executive Directors’, Senior Management’s and Non-Excutive Directors’ remuneration packages to be determined and established by the Board of Directors and at the expense of Hock Heng,

(a) shall review, assess and recommend to the Board of Directors the remuneration packages of the Executive Directors, Senior Management and Non-Excutive Directors in all forms, with other independent professional advice or outside advice as necessary.

(b) shall be entitled to the services of a company secretary who must ensure that all decisions made on the remuneration packages of the Executive Directors, Senior Management and Non-Excutive Directors be properly recorded and minuted in the minutes book.

8. Duties and Responsibilities

The duties and responsibilities of the Remuneration Committee are as follows:-

a. To review and assess the remuneration packages of the Executive Directors, Senior Management and Non-Excutive Directors in all forms, with or without other independent professional advice or other outside advice;

b. To ensure the levels of remuneration be sufficiently attractive and be able to retain Directors and Senior Management needed to run Hock Heng successfully;

c. To structure the component parts of remuneration so as to link rewards to corporate and individual performance and to assess the needs of Hock Heng for talent at Board level at a particular time;

d. To recommend to the Board of Directors the remuneration packages of the Executive Directors, Senior Management and Non-Excutive Directors;

e. To act in line with the Directions of the Board of Directors; and

f. To consider and examine such other matters as the Remuneration Committee considers appropriate.

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