The Board has adopted new terms of reference for the Remuneration Committee on 27 March 2012.

The Company has adopted the model whereby the Remuneration Committee is responsible for the remuneration packages of individual executive director and senior management and for the remuneration matters of non-executive directors, the setting up of adequate and transparent procedures for developing the remuneration policies and making recommendations to the Board. The Remuneration Committee shall consider factors such as time commitment and responsibilities of directors, employment conditions of other positions within the Group and whether their remuneration are performance-based.