CORPORATE GOVERNANCE
STATEMENTS
25
CITIC ENVIROTECH LTD.
Annual
Report
2015
REMUNERATION MATTERS
Principle 7: Procedures for Developing Remuneration Policies
Principle 8: Level and Mix of Remuneration
The Remuneration Committee (“RC”) comprises four members, three of whom are independent directors.
The members of the RC are:
Mr Lee Suan Hiang, Chairman and Independent Director
Mr Zhao Fu, Non-Executive Director
Mr Yeung Koon Sang alias David Yeung, Independent Director
Mr Tay Beng Chuan, Independent Director
The functions of the RC are to review and recommend the remuneration packages of the Executive
Director, CEO and key executives of the Company, and to review the appropriateness of compensation for
Non-Executive Director including but not limited to Directors’ fees and allowances.
The Remuneration Committee has access to expert professional advice on human resource matters
whenever there is a need to consult externally. In its deliberations, the Remuneration Committee takes
into consideration industry practices and norms in compensation in addition to the Company’s relative
performance and the performance of the individual Directors. No director is involved in deciding his own
remuneration.
The Company does not have any employee who is an immediate family member of a Director or CEO.
The Board will on an annual basis, submit a proposal for Directors’ Fees as a lump sum for shareholders’
approval. The sum to be paid to each of the Independent directors shall be determined by his contribution
to the Company, taking into account factors such as efforts and time spent as well as his responsibilities on
the Board. Generally, directors who undertake additional duties as chairman and/or members of the Board
Committees will receive higher fees because of their additional responsibilities.
Principle 9: Disclosure on Remuneration
A breakdown showing the level and mix of each individual director’s remuneration payable for financial
period ended 31 December 2015 is as follows:
Percentage (%)
Total
(round off
to nearest
thousand
dollars)
S$’000
Remuneration earned through:
Base / fixed
salary
Variable or
performance
related income/
bonuses/ share
Options
granted
Director Fees /
Attendance
Fees
Mr Hao Wei Bao
–
–
–
–
Dr Lin Yucheng
47
53
1,085
Mr Zhang Yong
–
–
–
–
Mr Wang Song
–
–
–
–
Mr Yeung Koon Sang alias
David Yeung
–
86
14
423
Mr Tay Beng Chuan
–
86
14
423
Mr Lee Suan Hiang
–
86
14
423
Mr Zhao Fu
–
–
–
–
