CONSOLIDATED STATEMENT OF CASH FLOWS
Year ended 30 June 2014
Annual Report 2015
Karin Technology Holdings Limited
19
Corporate Governance is central to Karin Technology Holdings Limited’s (the “
Company
” or the “
Group
”) approach
to the enhancement of shareholder value and the protection of shareholders’ funds. The Directors and Management of
the Company are committed to maintaining a high standard of corporate governance practices and transparency. They
also are committed to ensuring that its policies and practices in the critical areas of financial reporting and corporate
governance meet high levels of disclosure and compliance to protect and enhance the interests of the stakeholders of
the Company. Process and procedures have been instituted and are being constantly reviewed and revised to ensure
effective corporate governance.
The Company requires that all directors, senior executives and employees act ethically and responsibly at all times.
The Board has reviewed the Company’s corporate governance policies and practices and is pleased to confirm that for
the financial year ended 30 June 2015, the Group has adhered to the principles and guidelines as set out in the Code
of Corporate Governance 2012 (the “
2012 Code
”), except where otherwise stated. The Board will continue to improve
with developments by enhancing its principles and framework.
This report outlines the corporate governance practices adopted by the Group, embodying the principles of the 2012 Code.
BOARD MATTERS
PRINCIPLE 1 – BOARD’S CONDUCT OF ITS AFFAIRS
Karin is governed by a board of directors (“
Board
”) each of whom is elected by the Company’s shareholders. The
Board is accountable to shareholders for the strategic direction of the Company and value-creation for shareholders. The
Board works closely with management to achieve this objective. Management is accountable to the Board. All Directors
objectively make decisions in the interests of the Company.
The Board has adopted the Board Terms of Reference which sets out the principal roles of the Board, functions,
responsibilities and power of the Board and various Board Committees of the Company.
The principal roles of the Board include, but not limited to, the following corporate matters:–
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resources are in place for the Company to meet its objectives;
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safeguarding of shareholders’ interests and the Company’s assets;
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and other stakeholders are understood and met.
Matters which are specially reserved for the approval of the Board include, among others, investments in subsidiaries
and associates, advances to subsidiaries or associate company, increase of share capital, any material acquisitions and
disposals of assets and major undertakings (other than in the ordinary course of business), banking matters and review
and release of announcements relating to financial statements and Board changes.
REPORT ON CORPORAT GOVERN NCE
