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/ MTQ CORPORATION LIMITED /
ANNUAL REPORT
2014/2015
DIRECTORS’ REPORT
SHARE PLAN (CONT’D)
(d)
None of the directors of the Company is a participant of the Share Plan since the commencement date to the end
of the financial year ended 31 March 2015.
(e)
No eligible participant has received 5% or more of the aggregate of (i) the total number of the new ordinary shares
available under the Share Plan; and (ii) the total number of existing ordinary shares delivered pursuant to the
settlement of the Awards under the Share Plan.
DIRECTORS' CONTRACTUAL BENEFITS
Except as disclosed in the financial statements, since the end of the previous financial year, no Director of the Company
has received or become entitled to receive a benefit by means of a contract made by the Company or a related corporation
with the Director, or with a firm of which the Director is a member, or with a company in which the Director has a substantial
financial interest, other than the salary and related staff benefits as a full time employee of the Company, subsidiary or a
related company.
AUDIT COMMITTEE
As at the date of this report, the Audit Committee comprises 3 members, all of whom are non-executive and independent
directors. The Audit Committee comprises the following members:
Chew Soo Lin (Chairman)
Christopher Ho Han Siong
Huang Yuan Chiang
During the financial year, the Audit Committee carried out its functions in accordance with section 201B(5) of the Singapore
Companies Act, Chapter 50, including the following:
•
Reviewed the audit plans of the internal and external auditors and reviewed the internal auditors' evaluation of
the adequacy of the system of internal controls and the assistance given by the Company's management to the
external and internal auditors;
•
Reviewed the quarterly and annual financial statements and the auditors’ report on the annual financial statements
of the Group and the Company before their submission to the Board of Directors;
•
Reviewed the effectiveness of material internal controls, including financial, operational and compliance controls
and risk management via reviews carried out by the internal auditors;
•
Met with the internal and external auditors, other committees, and management in separate executive sessions to
discuss any matters that these groups believe should be discussed privately with the Audit Committee;
•
Reviewed legal and regulatory matters that may have a material impact on the financial statements, related
compliance policies and programmes and any reports received from regulators;
•
Reviewed the cost effectiveness and the independence and objectivity of the external auditors;
•
Reviewed the nature and extent of non-audit services provided by the external auditors;
•
Recommended to the Board of Directors the external auditors to be nominated, approved the compensation of the
external auditors, and reviewed the scope and results of the audit;
