The Remuneration Committee was established on 25 February 2000 with written terms of reference as amended and restated. The Remuneration Committee has two non-executive directors, Dr. Ch'ien Kuo Fung, Raymond and Mr. Yip Hak Yung, Peter, and three independent non-executive directors, Messrs. Wang Cheung Yue, Fred (Committee Chairman), Wong Sin Just and Chia Kok Onn. The primary duties of the Remuneration Committee are to make recommendations to the board and to conduct annual review if necessary on the Company’s policy and structure for all remuneration of directors and senior management (as defined in applicable listing rules) and on the establishment of a formal and transparent procedure for developing policy on such remuneration."