The aggregate value of Interested Person Transactions entered into during the financial year under review are
as follows:–
Name of Interested Person
Aggregate value of all interested
person transactions during the
financial year under review
(excluding transactions less
than $100,000 and transactions
conducted under shareholders’
mandate pursuant to Rule 920)
Aggregate value of all interested
person transactions conducted
under shareholders’ mandate
pursuant to Rule 920
(excluding transactions
less than $100,000)
Anhui KM Technology Co. Ltd.
$800,857
NIL
Konka Precision Mould Plastic
Co. Ltd.
$463,521
NIL
The Company does not have any shareholders’ mandate for interested person transactions.
MATERIAL CONTRACTS
During the financial year, there were no material contracts entered into by the Company or any of its subsidiary
companies involving the interests of any director or the controlling shareholder of the Company except those
announced via SGXNET from time to time in compliance with the SGX-ST Listing Manual.
RISK MANAGEMENT
InnoTek acknowledges that appropriate management of the risks accompanying its business is vital to prevent
losses and damages in the fast-changing business environment. The Board has put in place processes and
procedures which help to identify and manage areas of significant strategic, business and financial risks. The
Group manages risk under an overall risk management framework determined by the Board and supported by
the Audit Committee and Internal Audit. Management periodically reviews the past performance of, and profiles
the current and future risks facing the Group. This system by its nature can only provide reasonable, but not
absolute, assurance to investors regarding:
–
the safeguarding and protection of the Group’s assets against unauthorized or improper use or disposal;
–
protection against material misstatements or losses;
–
the maintenance of proper accounting records;
–
the reliability of financial information used within the business and for publication;
–
the compliance with appropriate legislations, regulations and best practices; and
–
the identification and containment of business risks.
I N N O T E K L I M I T E D
A N N U A L R E P O R T 2 0 1 5
33
CORPORATE
GOVERNANCE REPORT
