TUNG LOK RESTAURANTS (2000) LTD / Annual Report
2016
35
Directors’ statement
Directors’ interests in shares and debentures (cont’d)
By virtue of Section 7 of the Singapore Companies Act, Mr Tjioe Ka Men and Mdm Tjioe Ka In are deemed to have an interest
in the Company and all the related corporations of the Company.
There was no change in any of the above-mentioned interests in the Company between the end of the financial year and 21
April 2016.
Except as disclosed above, no director who held office at the end of the financial year had interests in shares, share options,
warrants or debentures of the Company, or of related corporations, either at the beginning of the financial year, or date of
appointment if later, or at the end of the financial year.
Share options
(a)
Options to take up unissued shares
During the financial year, no option to take up unissued shares of the Company or any corporation in the Group was
granted.
(b)
Options exercised
During the financial year, there were no shares of the Company or any corporation in the Group issued by virtue of the
exercise of an option to take up unissued shares.
(c)
Unissued shares under options
At the end of the financial year, there were no unissued shares of the Company or any corporation in the Group under
options.
Audit and Risk Committee
The Audit and Risk Committee (“ARC”) carried out its functions in accordance with section 201B (5) of the Singapore
Companies Act, Chapter 50, including the following:
•
Reviewed the audit plans of the internal and external auditors of the Group and the Company, and reviewed the internal
auditor’s evaluation of the adequacy of the Company’s system of internal accounting controls and the assistance given
by the Group and the Company’s management to the internal and external auditors
•
Reviewed the half-yearly and annual announcements on the results and balance sheets of the Company and the Group
•
Reviewed annual financial statements and the auditor’s report on the annual financial statements of the Group and the
Company before their submission to the board of directors
•
Reviewed effectiveness of the Group and the Company’s material internal controls, including financial, operational and
compliance controls and risk management via reviews carried out by the internal auditor
•
Met with the external auditor, other committees, and management in separate executive sessions to discuss any matters
that these groups believe should be discussed privately with the ARC
•
Reviewed legal and regulatory matters that may have a material impact on the financial statements, related compliance
policies and programmes and any reports received from regulators
