Audit Committee

The Audit Committee was established in August 1999. It comprises three members, all of whom are independent non-executive Directors of the Company.

Members:

Mr. TAN Jinsong (Chairman)
Mr. LAM Ming Yung
Ms. CHEN Chunhua

The Committee's responsibilities include the following:

• responsible for making recommendation to the Board on the appointment, reappointment and removal of the external auditors, and to approve the remuneration and terms of engagement of the external auditors, and any questions of resignation or dismissal of that auditors;

• to review and monitor the external auditor's independence and objectivity and the effectiveness of the audit process in accordance with applicable standard;

• to develop and implement policy on the engagement of an external auditor to supply non-audit services;

• to monitor integrity of financial statements of the Company and the Company's annual report and accounts, half-year report, and to review significant financial reporting judgments contained in them, and to review the Company's annual report and accounts, half-year report before submission to the Board;

• to review the Company's financial controls, internal controls and risk management systems;

• to review the accounting policies and practices of the Group; and

• to discuss with the management the system of internal control and ensure that management has discharged its duty to have an effective internal control system.

The Audit Committee is provided with sufficient resources in discharging its duties.

Terms of Reference of the Audit Committee (Chinese Version only)