Powers of the Board

In addition to the above and any matters expressly required by law to be approved by the Board, powers specifically reserved for Board include:

Appointment of the Chief Executive Officer and determination of his or her terms and conditions and recommending the same to the Governance Committee (including remuneration);

Appointment of Senior Executives to roles leading HFC’s businesses or functions and reporting to the Chief Executive Officer, and appointment of the Company Secretary;

Any matters in excess of any discretion that it may have from time to time delegated in the Chief Executive Officer and Senior Management in relation to credit transactions, market, liquidity, interest rate risks, limits and expenditure or any other transactions outside discretion of Chief Executive Officer and Senior Management;

Review, approve and monitor major investment and strategic commitments;

Approvals of each of the following:

Annual approval of budget and strategic plan;

Annual approval and ratification of remuneration and conditions of service for Senior Management, direct report to the Chief Executive Officer and other key executives;

Any public statements which reflect significant issues of HFC policy or strategy;

Any changes to the discretions delegated from the Board ;
and the Acquisition, establishment, disposal or cessation of any significant business.

Governance Policy Statement

Sustainable Good Governance at HFC is the pillar of Strength, Stability and Solid Foundation for competitive performance, regulatory measurements, and stakeholder confidence and beyond.

Disclosure and Conflict 0f Interest Policies

HFC recognizes the significance of disclosing important information necessary for shareholders, regulators, investors and the general public to make decisions. HFC has therefore established a corporate governance policy and practical guidelines to ensure that its information disclosure is accurate, complete, timely, transparent, and delivered through channels which are easily accessible and trustworthy so that shareholders or investors can conveniently obtain the information. This conceptual platform also allows the auditors (external and internal) to have direct or indirect access to the Board or the regulators through the Chairman of the Board Risk Sub-Committee. All internal disclosures relating to the accounts of the Company are adopted with assurance sign off certification by the Chief Executive Officer and General Manager Finance Administration, stating that the Financial statements are true and fair view of accounts, does not contain material untrue statement, omit material fact, comply with Accounting Standards, applicable Laws and Regulations.

Code of Conduct

HFC’s Code of Conduct sets ethical standards for HFC employees to embrace and advocate. HFC also has company policies and charters which further support these standards. This ethical framework delivers an environment in which we as HFC employees, can excel regardless of race, religion, age, disability or gender. It is impossible to provide specific guidance for every circumstance.


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