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08/2005
Rules
on the Corporate Governance Report
May
I take this opportunity to draw your attention
to the following:
Has your Company maintained on its
website an updated list of directors?
„DDoes your Company provide any orientation
to the newly appointed directors?
„HHas your audit committee been provided sufficient
resources to discharge its duties?
As
you are aware, the code on corporate governance practices
(the "Code") and rules on the corporate governance
report (the "Rules on the CGR") came into
effect on 1 January 2005.
In
the first Interim/Half-year Results Announcement and
Report commencing on or after 1 January 2005, the listed
issuer should give a report on the corporate governance
of the Company and if there is any non-compliance, disclose
such deviation and the reasons and the steps to be taken
in order to comply with the Code Provisions. The Code
also requires listed companies to establish audit, remuneration
and nomination committees with specific written terms
of reference dealing with their respective authority
and duties.
We
understand that it would be an enormous task for a listed
issuer to draft the Corporate Governance Report and
the relevant terms of reference for each of the above
committees, which must be realistic and practical to
the companys actual operation.
BMI
Corporate Services Limited is a leading corporate
services provider formed a service tem to provide the
following services related to the area of corporate
governance issues:
1.
Provision
of guidelines and recommendations on corporate
governance issues with reference to the Listing
Rules and best practices in other parts of the
world;
2.
Tailor
made documents to ensure compliance with the
Code on Corporate Governance Practices e.g.
terms of reference for the Directors, the Chairman,
the Chief Executive Officer, the Audit, Nomination
and Remuneration Committee, etc.; and
3.
Preparation
of the Corporate Governance Report for the interim
and annual report.
We
understand that your company will soon be preparing
the first Interim/Half-year Announcement and Interim/Half-year
Report with disclosure requirements as required under
the Code. If you need any advice please contact Dr.
Tony Cheng at Tel: 2593 9633 or Ms. Ritina Leung at
Tel: 2593 9660.
BMI
Corporate Services Limited
Suite
06-12, 33/F., Shui On Centre, 6-8 Harbour Road, Wanchai,
Hong Kong
Tel¡G(852) 2802 2191
Fax¡G(852) 2802 0331
Email¡Ginfo@bmintelligence.com
Website¡Gwww.bmintelligence.com
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COPYRIGHT
2005, BMI Corporate Services Limited. All Rights Reserved.
