On November 20^th, the first meeting of the second term Board Audit Committee was held in the conference room at the 15^th floor of Fulian Building. Mr. Nabil Al-Nuaim, Chairman of the Committee, and the Committee members Mr. Chen Xiaobo, Mr. Xu Jianping and Mr. Gan Seow Kee, and Mr. Yang Hongbin, the supervisor of board of directors, were present at the meeting.

First, the committee members wished the retired Chairman Mr. Warren Wilder a happy retirement, warmly welcomed the new Chief Auditor Mr. Zhou Wenyin, and expressed their appreciation for the big amount of work accomplished by the internal audit team.

The Chief Auditor Mr. Zhou Wenyin reported the main accomplishments and the irregularities since last BAC meeting. Mr. Ignatius Lee, General Manager of Finance Department as the company’s management representative, and external audit representatives from KPMG respectively reported the company’s internal control and external audit plan.

After good review and discussion of each agenda, the work completed by internal audit team and company management in aspects of risk management and internal controls were fully recognized and thanked.  It was required at the meeting that the company management should strengthen the compliance of the laws and regulations of safety and environmental protection, and control the risks concerning with materials/ services procurement procedures.

At the meeting, the “3-Year Internal Audit Rolling Plan 2018-2020”, “2018 Internal Audit and Staffing Plan” were reviewed and approved. (Xu Juan)