Highlights

TPV is committed to ensuring and maintaining high standards of corporate governance. The Board of Directors will continue to review and improve the corporate governance practices and standards of the Company to ensure that business activities and decision making processes are regulated in a proper and prudent manner.

Board of Directors

Board Committees

Audit Committee
Mr Chan Boon Teong (Chairman)
Dr Ku Chia-Tai
Mr Wong Chi Keung

The Audit Committee meets regularly to provide advice and recommendations to the Board on the Group's financial reports and internal control systems. Members of the committee are all independent non-executive directors of TPV which promotes objectivity and independency.

Terms of reference

Remuneration Committee
Mr Chan Boon Teong (Chairman)
Dr Jason Hsuan
Dr Ku Chia-Tai
Mr Lu Ming
Mr Wong Chi Keung

The Remuneration Committee meets regularly to formulate and provide recommendations to the Board on the Group's human resources issues. The committee is also responsible for determining the remuneration of executive directors and members of senior management, and reviewing and making recommendations on the Group's share option scheme, bonus structure, provident fund and other compensation-related issues.

Terms of reference

Investment Committee
Dr Jason Hsuan (Chairman)
Mr Lu Ming
Ms Wu Qun
Mr Junichi Kodama
Mr Chan Boon Teong

The Company has established the Investment Committee on 23rd March 2011 with specific terms of reference. The Investment Committee is responsible for reviewing the investment evaluation policies, evaluating investment proposals and making recommendations to the Board. It also reviews and reports to the Board the performance, forecast and business plan of the investments on a regular basis.

Terms of reference

Internal Control
The Board of Directors has overall responsibility for the internal control system of the Company and for reviewing its effectiveness. The Board is committed to implement an effective and sound internal control system to safeguard the interest of shareholders and the Group's assets.

The internal audit division presents in the prior year their risk-based audit plan to the Audit Committee for approval.