Remuneration Committee
(Extracted from Sun Hung Kai Properties Limited 2010/11 Annual Report dated 15 September 2011)
The Remuneration Committee was established in June 2005 and is chaired by Professor Wong Yue-chim, Richard, an Independent Non-Executive Director. Other members of the Committee are Mr. Lo Chiu-chun, Clement and Dr. Li Ka-cheung, Eric. All members are Non-Executive Directors and the majority of them is Independent Non-Executive Directors. Following Mr. Lo Chiu-chun, Clement's retirement as a Director at the 2011 AGM as mentioned above, he would cease to be a member of the Remuneration Committee. On 15 September 2011, the Board has appointed Mr. Kwan Cheuk-yin, William, a Non-Executive Director, in place of Mr. Lo to act as a member of the Remuneration Committee with effect from 9 December 2011.
The Remuneration Committee is responsible for formulating and recommending remuneration policy to the Board, determining the remuneration of Executive Directors and members of senior management and reviewing and making recommendations on compensation-related issues. The Committee consults with the Chairman and/or Vice Chairmen on its proposals and recommendations if necessary, and also has access to professional advice if deemed necessary. The Committee is also provided with sufficient resources enabling it to discharge its duties. The Remuneration Committee's specific terms of reference are posted on the Company's website.
The Remuneration Committee held a meeting during the year ended 30 June 2011. The attendance record of each member is set out below:
| Committee members | Meeting attended / Total | |
|---|---|---|
| Wong Yue-chim, Richard | 1/1 | |
| Lo Chiu-chun, Clement | 1/1 | |
| Li Ka-cheung, Eric | 1/1 | |
The Remuneration Committee reviewed matters relating to the fees and remuneration for Directors and senior management, as well as discussed the Group's remuneration policy.
