The Board of Directors (the “Board”) and the management of Orient Overseas (International) Limited (the "Company") are committed to maintaining high standards of corporate governance. The Company considers that effective corporate governance makes an important contribution to corporate success and to the enhancement of shareholder value. The Company has adopted its own corporate governance code (the “CG Code”), which in addition to applying the principles as set out in the Corporate Governance Code contained in Appendix C1 to the Rules Governing the Lising of Securities on The Stock Exchange of Hong Kong Limited, also incorporates and conforms to local and international best practices. The CG Code sets out the corporate governance principles applied by the Group and is constantly reviewed to ensure transparency, accountability and independence.
The Board has overall responsibility for the Group’s internal control systems to safeguard the Company’s assets, to monitor the Company’s financial position and to protect shareholders’ interests. Through the Audit Committee, the Board conducts reviews of the effectiveness of the internal control systems, covering all material controls including financial, operational and compliance controls and risk management functions. The process used in reviewing the effectiveness of these internal control systems includes discussion with management on risk areas identified by management of the Company and the principal subsidiary of the Group and review of significant issues arising from internal and external audits. The Company’s internal control systems comprise a well established organisational structure and comprehensive policies and standards. Procedures have been designed to safeguard assets against unauthorised use or disposition, to maintain proper accounting records, for assurance of the reliability of financial information for internal use or publication, and to ensure compliance with applicable laws and regulations. The purpose of the Company’s internal control is to provide reasonable, but not absolute, assurance against material misstatement or loss and to manage rather than eliminate risks of failure in operational systems and achievement of the Company’s objectives.
The Group has set up procedures to identify, manage and control risks that may have an impact on the business of the Group. The Group’s “Whistle Blower Policy” is one of the Group’s formalized procedures whereby an employee may, in good faith, report any concerns regarding accounting, internal accounting controls and auditing matters to the Audit Committee.
Memorandum of Association and Bye-Laws
組織章程大綱及公司細則
Procedures for a shareholder to propose a person for election as a director
股東提名人選參選董事之程序
For more information on OOIL’s corporate governance, please refer to the Corporate Governance Report contained in the Company’s latest Annual Report.
