- Introduction
- Audit Committee
- Remuneration Committee
- Nomination Committee
- Corporate Governance Committee
- Internal Control
INTRODUCTION
New Media Lab Limited is committed to maintaining corporate govermance and effective accountability mechanisms in every aspect of its business. Conducting business in a socially responsible and honest manner serves both the long-term interests of the Company and its shareholders.
The Company believes that its commitment to good corporate governance has given it a firm foundation for growth and enabled it to provide quality products and services to the community, while maximising shareholders’ returns.
The Board has established Audit Committee, Remuneration Committee, Nomination Committee, Corporate Governance Committee and Executive Committee to ensure proper reporting and uphold corporate governance.
Other measures to safeguard shareholders’ interests include the prompt disclosure of relevant information to shareholders through:
- Annual and interim reports
- Announcements
- Circulars
- Press releases
All of these are available on the websites of the Company and the Hong Kong Stock Exchange.
The Company also convenes post-results press conferences and investor meetings to enhance transparency.
Audit Committee
Established on 26 June 2023, the Audit Committee comprises the following members:
Mr. Mak Kam Chiu* (Chairman of the Committee)
Ms. Cheng Ka Yu*
Mr. Niu Zhongjie*
*Independent Non-executive Director
Under specific written terms of reference, the Audit Committee is primarily responsible for making recommendations to the Board on the appointment and removal of the external auditor, to approve the remuneration and terms of engagement of external auditor, review financial information and oversight of the financial reporting system and internal control procedures.
Remuneration Committee
Established on 26 June 2023, the Remuneration Committee comprises the following members:
Mr. Niu Zhongjie* (Chairman of the Committee)
Mr. Wong Chi Fai#
Mr. Mak Kam Chiu*
* Independent Non-executive Director
# Executive Director
Under specific written terms of reference, the primary duties of the Remuneration Committee are making recommendation to the Board on the Company’s policy and structure for the remuneration of directors and senior management, reviewing and making recommendations to the Board on the directors' fee and remuneration packages of directors.
Nomination Committee
Established on 26 June 2023, the Nomination Committee comprises the following members:
Ms. Cheng Ka Yu* (Chairperson of the Committee)
Ms. Fan Man Seung, Vanessa#
Mr. Niu Zhongjie*
* Independent Non-executive Director
# Executive Director
Under specific written terms of reference, the primary duties of the Nomination Committee include nominating potential candidates for directorship, reviewing the nomination of directors, assessing the independence of independent non-executive directors and making recommendations to the Board on such appointments.
Corporate Governance Committee
Established on 26 June 2023, the Corporate Governance Committee comprises the following members:
Ms. Fan Man Seung, Vanessa# (Chairperson of the Committee)
Mr. Mak Kam Chiu*
Ms. Cheng Ka Yu*
A representative from Company Secretarial function
A representative from Finance & Accounts function
* Independent Non-executive Director
# Executive Director
Under specific written terms of reference, the major responsibilities of Corporate Governance Committee include reviewing the corporate governance practice and disclosure systems of the Company and introducing relevant principles concerning corporate governance so as to enhance the standard of corporate governance of the Company.
Internal Control
We have adopted a series of internal control measures and have in place various corporate policies and key internal control guidelines and procedures that we consider to be appropriate for our business operations.
Operation risk management
Standard operation procedures, written manuals or policies, workflows and standard forms are maintained to regulate daily operation of the Group. Employee handbook also lists out and provides guidance on proper conducts and duty obligations over various aspects of daily works.
Risk management in relation to article contents and use of images/photos
Internal control practices over newsfeeds and articles to be published and images and photos to be used on our media platforms are adopted to ensure legal and regulatory compliance of our contents and avoid infringement of intellectual property rights of third parties.
Information system risk management
Data collected from our audience, visitors and clients are maintained in our centralised information systems located behind virtual private clouds maintained by reputable third party cloud computing service providers with restriction in staff access.
Credit risk management
Our credit risk is primarily attributable to our trade receivables. Guidelines on recovery of long overdue payments and a designated credit control team are in place to monitor the settlement status of our bills on daily basis.
