Our approach to governance
Decision making authority and oversight are kept separate, and the way decisions are reached is recorded.
In equipment manufacturing a single order is large and runs for a long time, so depending on one person’s judgement carries real risk. Investments and orders above a set value, and any significant change that affects quality, require a board resolution.
Board composition and operation
| Composition | Executive directors together with an outside director, who carries the audit function. |
|---|---|
| Chair | The Representative Officer chairs the board. |
| Regular meetings | At least once each quarter. |
| Extraordinary meetings | Convened when a material matter arises. |
| Matters reserved | Capital investment, major orders, reorganisation, changes to quality policy and financing. |
| Records | Minutes are kept, and a director with an interest in an item is excluded from that vote. |
Organisation
Production and quality report through separate lines. The Quality Control Director does not take instructions from the production side and reports directly to the Representative Officer and the board. The authority to hold a shipment also sits with quality.
| Division | Responsibility |
|---|---|
| Corporate | Planning, finance, people and administration |
| Sales and marketing | Domestic sales, overseas sales, exhibitions and communications |
| Engineering | Mechanical design, control design and project management |
| Manufacturing | Machining, assembly, piping and wiring, commissioning |
| Quality | Quality assurance, quality control, validation and document control |
| Service | Installation, training, preventive maintenance and spare parts |
Internal control and audit
- An internal audit is carried out at least once a year and reported to the board.
- Quality documents follow a control procedure that records revisions and approvers.
- Supplier assessment and checking of material certificates are part of the purchasing procedure.
- Ethics reports can be made anonymously and go directly to the audit function, not to the department concerned.
Ethics and the reporting channel
Shareholder communication
Notices of general meetings and periodic disclosures are published on the disclosures page. Individual questions go to the IR contact.
IR contact: info@shinwongpharma.com