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Important Notice

Towngas recently received customer enquiries on suspicious gas bill. The alleged claim and embedded links have been found to be fraudulent. The matter has since been reported to the police. Please stay alert and do not click on any attachment or link contained in any email or message that appears suspicious. For enquiries, please call 2880 6988 or email towngas.cs@towngas.com
2023-11-28 13:00:00
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Commerce & IndustryCommerce & Industry
Corporate Governance
Home > ESG > ESG Strategy

Corporate Governance

At Towngas, the high standard of corporate governance that we maintain helps to assure shareholders that their rights and interests are well protected. For other stakeholders, including customers, employees, suppliers and members of the community, our adherence to good corporate governance principles and practices is a clear demonstration of our commitment to fulfilling our social responsibilities.

The Board of Directors of Towngas (the Board) is the Group’s highest governing body. It is responsible for enforcing corporate governance and risk management through effective internal controls that enhance transparency and accountability.

The Board meets regularly at least four times a year at approximately quarterly intervals. The Directors can attend meetings in person or through electronic means of communication in accordance with the Articles of Association.
Board Diversity 

The Board adopted the Board Diversity Policy setting out the approach to achieve diversity on the Board. The Company recognises and embraces the benefits of having a diverse Board to enhance the quality of its performance. In designing the Board’s composition, Board diversity has been considered from a number of aspects, including but not limited to professional experience, skills, knowledge, cultural and educational background, ethnicity, age and gender, appropriate to the requirement of the Company’s businesses.

Nomination Committee 

The Board adopted a Nomination Policy which aims to ensure that the Board has a balance of skills, experience and diversity of perspectives appropriate to the requirement of the Company’s businesses. In selecting and appointing a board director, the Nomination Committee shall consider criteria, including but not limited to reputation for integrity, business experience relevancy and benefit to the Company, willingness to devote adequate time to discharge duties as a member of the Board and the Board Diversity Policy.

The Nomination Committee identifies individual(s) suitably qualified to become board members, having due regard to the Nomination Policy and the Board Diversity Policy, assesses the independence of the proposed independent non-executive Director(s) as appropriate, and makes recommendation(s) to the Board.

The Nomination Committee also assessed the independence of all independent non-executive directors of the Company annually and recommended to the Board the extension of the terms of office of all non-executive directors (including independent non-executive directors) and for approval of the re-election of the retiring Directors at every Annual General Meeting. The Company receives annually from each of the Independent Non-Executive Directors confirmation in writing of their independence pursuant to Rule 3.13 of the Listing Rules and considered them as independent.

The Board shall have the ultimate responsibility for all matters relating to selection and appointment of Directors. The Nomination Committee will monitor the implementation of the Board Diversity Policy and the Nomination Policy and from time to time review them, as appropriate, to ensure that they remain relevant to the Company’s needs and reflect both current regulatory requirements and good corporate governance practice.

 

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