Maintain and ensure high standards of corporate governance practice. The Company stresses the importance of maintaining the quality of the Board by ensuring that the Directors possess a wide range of expertise and the effective implementation of an accountability system, so as to ensure that business activities and decision making processes are regulated in a proper manner.
The Board is charged with the responsibility of leadership and control of the Group. The Board promotes success of the Group and makes decisions objectively in the best interests of the Group. The Board’s role is mainly to direct and supervise the affairs of the Group, establish its strategic directions and set objectives and business development plans. The Board authorizes the management to manage the day-to-day business operation of the Group. In addition, the Board has also delegated various responsibilities to the various Board committees and the Chief Executive Officer.
The Company has developed a schedule of matters reserved to the Board for decisions. The Board will review those arrangements on a regular basis to ensure that the arrangements meet the needs of the Company.
The Board currently comprises eight Directors with five Executive Directors and three Independent Non-executive Directors.
Executive Directors
Mr. Yeung Chi Hang (Chairman and CEO)
Mr. Leung Kwong Choi
Mr. Wong Po Keung
Mr. Chung Siu Wah
Mr. Chik To Pan
Independent Non-executive Directors
Mr. Wong Kwai Sang
Mr. Ong Chi King
Mr. Heung Chee Hang, Eric
List of Directors and Their Roles and Functions
EXECUTIVE DIRECTORS
Mr. Yeung Chi Hang
Appointed as Executive Director on 16 January 2014. Mr. Yeung also was appointed as the Chairman and chief executive officer of the Company on 27 January 2015. Mr. Yeung is also a substantial shareholder of the Company. Mr. Yeung studied at Camosun College, Canada. He has over 10 years of experience in investment, hotel management and in operating entertainment businesses.
Mr. Leung Kwong Choi
Appointed as Executive Director on 6 October 2008. He is also the Chairman of the investment committee of the Company. Mr. Leung holds a Bachelor of Social Science Degree from the Chinese University of Hong Kong. He had been working for 10 years in the marketing department of Hang Lung Development Ltd. since graduation. Mr. Leung had also served the positions of executive director of Top Glory Holdings Ltd., China Food Ltd. and Cheung Tai Hong Holdings Ltd., all of which are companies with shares listed on The Stock Exchange of Hong Kong Limited. Mr. Leung has over 28 years of real estate and business experience in Hong Kong and the PRC concentrating in property investment and development, acquisition and merger, deal marking and investment projects arrangement. He resigned as an independent non-executive director of Top Spring International Holdings Limited (stock code: 3688) with effect from 2 January 2018.
Mr. Wong Po Keung
Appointed as Executive Director on 30 September 2013. He is also the director of certain subsidiaries of the Company, the financial controller and a member of the investment committee of the Company Mr. Wong holds a Master degree in business administration from the University of South Australia. He is a fellow member of both the Association of Chartered Certified Accountants and the Hong Kong Institute of Certified Public Accountants. He has ample experience in auditing, accounting, financial management and company secretarial practices in respect of listed companies.
Mr. Chung Siu Wah
Appointed as Executive Director on 14 August 2014. Mr. Chung started his career in 1976 by joining the Hong Kong Government as a Customs Inspector. He obtained his law degree with honour at the University of London in 1986 and further obtained his Postgraduate Certificate of Laws at University of Hong Kong in 1987. He resigned from the Customs and Excise Department in 1987 and started his legal career. He has been a solicitor practicing in Hong Kong since 1989. He joined Messer. Tony Kan & Co. in 1987 and became a partner in 1992. He retired from the partnership in 2004 but continues to associate with the law firm as a consultant till now. Mr. Chung has over 8 year experience in the hotel, gaming and entertainment industry. Mr. Chung has also experience in the management of listed company at Hong Kong. He was appointed as an executive director of Daido Group Limited (stock code: 544) for the period from 9 September 2011 to 5 August 2013.
Mr. Chik To Pan
Appointed as Executive Director on 16 April 2016. He is the director of one of the Subsidiary of the Company. Mr Chik has wide experience in licensing of karaoke music products, operating entertainment businesses and wedding service business. Mr. Chik has also experience in the management of listed company at Hong Kong. He was appointed as an executive director of United Power Investment Limited (now named as Culture Landmark Investment Limited) (a company listed on the Main Board of the Stock Exchange) (stock code: 674) for the period from 8 March 2005 to 24 January 2008.
Mr. Wong Kwai Sang
Appointed as an Independent Non-executive Director on 2 March 2009. He is also a member of the audit committee, remuneration committee and nomination committee of the Company. Mr. Wong had been an Independent Non-executive Director, member of audit committee and member of remuneration committee of the Company since 3 July 2002. He resigned on 4 July 2008 as he himself had a long term personal assignment stationed in Shanghai. Mr. Wong had completed his assignment in Shanghai and returned to Hong Kong. He holds a Bachelor of Social Sciences degree from the University of Hong Kong. He is a property consultant and a fellow member of the Hong Kong Institute of Real Estate Administrators and the Australian Institute of Building respectively.
Mr. Ong Chi King
Appointed as Independent Non-executive Director on 27 January 2014. He is also the chairman of audit committee, nomination committee and remuneration committee. Mr. Ong is a member of the Hong Kong Institute of Certified Public Accountants and a fellow member of the Association of Chartered Certified Accountants. Mr. Ong received a bachelor’s degree in business administration from The Hong Kong University of Science and Technology and a master’s degree in corporate finance from The Hong Kong Polytechnic University. Mr. Ong has more than 20 years of experience in accounting, finance and company secretarial fields and held senior positions in finance and company secretarial departments in various listed companies listed on the Main Board of the Stock Exchange. Mr. Ong is currently an executive director of Deson Construction International Holdings Limited (stock code: 8268). Mr. Ong is also as an independent non-executive director of Larry Jewelry International Company Limited (stock code: 8351). He resigned as an independent non-executive director of KSL Holdings Limited (stock code: 8170), King Force Group Holdings Limited (stock code: 8315), Wan Kei Group Holdings Limited (stock code: 1718), WLS Holdings Limited (stock code: 8021), Capital VC Limited (stock code: 2324) and Hong Kong Education (Int’l) Investments Limited (stock code: 1082) with effect from 2 June 2016, 19 September 2016, 8 March 2017, 29 March 2017, 31 March 2017 and 9 November 2017, respectively.
Mr. Ong was a director of Fitness Concept International Holdings Limited prior to its dissolution. The said company was incorporated in the Cayman Islands and was dissolved on 30 June 2005 by striking off due to cessation of business.
Mr. Heung Chee Hang, Eric,
Appointed as Independent Non-executive Director on 16 January 2015. He is also a member of audit committee, nomination committee and remuneration committee. He is a qualified solicitor admitted to the Supreme Court of Hong Kong and a Civil Celebrant of Marriages. Mr. Heung received a bachelor’s degree in Law from University of Leicester England. He has more than 22 years of experience in the legal profession. Mr. Heung is presently a partner of Messrs. Tung, Ng, Tse & Heung, an independent non-executive director of WE Solutions Limited (stock code: 860), director of Lions Clubs of Kwai Tsing HKSAR, committee legal adviser of the Association of the Hong Kong Members of Shandong’s Chinese People’s Political Consultative Conference, executive committee member of Basic Law Institute Limited, Honorary President of ederation of HK Guangxi Community Organisations Limited and committee member of USRC Standing Disciplinary. He was appointed as an independent non-executive director of Gold Tat Group International Limited (stock code: 8266) for the period from 18 August 2000 to 3 March 2015. He resigned as an independent non-executive director of Zhong Fa Zhan Holdings Limited (stock code: 475) with effect from 20 October 2017.
The Company has established four committees, namely, the Audit Committee, the Remuneration Committee, the Nomination Committee and Investment Committee. All of the committees have adopted terms of reference in accordance with the principles set out in the Code on Corporate Governance Practices in the Listing Rules.
AUDIT COMMITTEE
Mr. ONG Chi King (Chairman)
Mr. WONG Kwai Sang
Mr. HEUNG Chee Hang, Eric
Remuneration Committee
Mr. ONG Chi King (Chairman)
Mr. WONG Kwai Sang
Mr. HEUNG Chee Hang, Eric
Nomination Committee
Mr. ONG Chi King (Chairman)
Mr. WONG Kwai Sang
Mr. HEUNG Chee Hang, Eric
Investment Committee
Mr. LEUNG Kwong Choi (Chairman)
Mr. WONG Po Keung