Share Price: Rs.105.00 (closing price as at last trade done on 14 January 2025)
Share Price: Rs.105.00 (closing price as at last trade done on 14 January 2025)
GOVERNANCE FRAMEWORK
Organisation Chart
ORGANISATION CHART & STATEMENT OF ACCOUNTABILITY AS AT 30 JUNE 2024
BOARD AND BOARD COMMITTEES
Board of Directors
The Board of Directors is the Company’s ultimate decision-making entity. The Board is collectively responsible and accountable for the affairs and overall performance of the Company. It ensures that proper systems and controls are in place to protect the Company’s assets and its good reputation. It also determines the Company’s strategic direction and identifies key risk areas, monitors and evaluates the implementation of policies and plans and approves the Company’s capital expenditure, including investments and operating budgets.
The Board also ensures that the Company’s activities comply with all legal and regulatory requirements as well as with its Constitution.
Responsibilities of the Board are set out in its Charter which may be reviewed on a yearly basis or as and when required with the introduction of or amendments to laws and regulations.
The profile of the directors can be found here
Alternate directors
Mrs. Valerie Ah-Chuen Juban acts as alternate director to Mr. Vincent Ah-Chuen
Mr. Mark Cedric Ah Chuen acts as alternate director to Mr. André Marc Ah-Chuen
Mr. Mark Cedric Ah Chuen acts as alternate director to Mr. André Marc Ah-Chuen
Board Composition
As at 30 June 2024, the Board of ABC Motors was composed as follows:
| Names of Directors | Category |
|---|---|
|
Mr. Vincent Ah-Chuen |
Executive Chairman |
|
Mr. Patrick Andrew Dean Ah-Chuen |
Managing Director |
|
Professor Donald Ah-Chuen |
Non-Executive Director |
|
Mr. André Marc Ah-Chuen |
Non-Executive Director |
|
Mr. David Brian Ah-Chuen |
Non-Executive Director |
|
Mrs. Valerie Ah-Chuen Juban |
Non-Executive Director |
|
Mr. Voon Yue Choon Wan Min Kee |
Independent Director |
|
Mr. Yognandan Sharma Mahabirsing |
Independent Director |
|
Mr. Tchang Fa Wong Sun Thiong |
Independent Director |
|
Me. Jennifer Konfortion |
Independent Director |
BOARD COMMITTEES
The Board of Directors is supported by three main Committees in its functions, namely Audit and Risk, Corporate Governance and Nomination and Remuneration. The various Committees are headed by experienced Chairmen who report on their activities and make recommendations on matters delegated to them under their respective Charters at the subsequent meeting of the Board. In order to fulfil the duties and responsibilities delegated to them, the Committees are authorised to obtain independent professional advice at the Company’s expense.
The Audit and Risk Committee assists the Board in fulfilling its oversight responsibilities and is also accountable for any other duties that may be assigned by the Board from time to time.
The Corporate Governance Committee has been set up in order to advise the Board on Corporate Governance matters and to ensure that the Company complies with the requirements of the National Code of Corporate Governance for Mauritius (2016) (the “Code”).
The Nomination and Remuneration Committee has been set up to advise the Board on the structure, size and composition of the Board and its Committees. It also makes recommendations on the remuneration policy for Executive and Senior Management.
Responsibilities of the Board Committees as set out in the Board Charter may be reviewed on a yearly basis or as and when required with the introduction of or amendments to laws and regulations.
More information on Board Committees is provided further below.
Audit and Risk Committee
The Audit and Risk Committee has been established by the Board to assist it in discharging its duties relating to the safeguarding of assets, the operation of adequate systems and control processes and the preparation of accurate financial reporting and statements in compliance with all applicable legal requirements and accounting standards.
The Committee provides a forum for the discussion of business risks and control issues faced by the Company. Relevant recommendations are thus generated for consideration by the Board. The Committee also monitors the role and scope of work of internal auditors. It has the authority to conduct investigations into any matter within its scope of responsibilities and to obtain such outside or other independent professional advice as it considers necessary to carry out its duties.
The Committee normally meets on a quarterly basis and during the financial year under review, the Committee met four times.
Members of the Audit and Risk Committee as at 30 June 2024 were:
| Names of Directors | Category |
|---|---|
|
Mr. Voon Yue Choon WAN MIN KEE (Chairman) |
Independent Director |
|
Mr. Yognandan Sharma MAHABIRSINGH (Member) |
Independent Director |
|
Mr. Tchang Fa WONG SUN THIONG (Member) |
Independent Director |
Corporate Governance Committee
The Corporate Governance Committee has been established by the Board to oversee the application of corporate governance provisions within the organisation and to make such recommendations to the Board as may be required to ensure strict adherence to the Code. Hence, the Company remains effective and complies with prevailing corporate governance principles.
The Committee normally meets on a yearly basis and during the financial year under review, the Committee met once.
Members of the Corporate Governance Committee as at 30 June 2024 were:
| Names of Directors | Category |
|---|---|
|
Mr. Yognandan Sharma MAHABIRSINGH (Chairman) |
Independent Director |
|
Mr. Tchang Fa WONG SUN THIONG (Member) |
Independent Director |
|
Mr. Voon Yue Choon WAN MIN KEE (Member) |
Independent Director |
|
Me. Jennifer KONFORTION (Member) |
Independent Director |
Nomination and Remuneration Committee
The main responsibilities of the Nomination and Remuneration Committee is to make recommendations for the appointment of directors to the Board, changes to be made to Board composition, policy in respect of Executive and Senior Management’s remuneration and the periodic review of the terms and conditions relating to Executive Directors’ service agreements.
Based on its size and the industry that it is operating in, the current directors possess the right mix of skills and experience to provide leadership, integrity and judgement in managing the affairs of the Company. As such, the Board lays much emphasis on expertise, objectivity and independent judgement of its members and considered that such members always act in the best interest of the Company.
The Committee normally meets on a yearly basis and during the financial year under review, the Committee met once.
Members of the Nomination and Remuneration Committee as at 30 June 2024 were:
| Names of Directors | Category |
|---|---|
|
Mr. Tchang Fa WONG SUN THIONG (Chairman) |
Independent Director |
|
Professor Donald AH-CHUEN (Member) |
Non-Executive Director |
|
Mr. Vincent AH-CHUEN (Member) |
Executive Chairman |
|
Mr. Patrick Andrew Dean AH-CHUEN (Member) |
Managing Director |
