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CORPORATE GOVERNANCE
The Company has complied with all the applicable code provisions set out in the Corporate
Governance Code and Corporate Governance Report contained in Appendix 14 to the
Listing Rules for the six months ended 30 September 2019, except with deviation from code
provision A.2.1.

Under code provision A.2.1, the roles of chairman and chief executive officer should be
separate and should not be performed by the same individual. On 15 June 2018, Mr LEUNG
Wai Sing, Wilson succeeded the chairman of the Board and since then he has the combined
role of Chairman of the Board and Chief Executive Officer of the Company. The Board
believes that this arrangement is beneficial to the Company as Mr LEUNG has considerable
industry experience.

MODEL CODE FOR SECURITIES TRANSACTIONS BY DIRECTORS
The Company has adopted the Model Code for Securities Transactions by Directors of Listed
Issuers as set out in Appendix 10 to the Listing Rules (the “Model Code”) as its own code of
conduct regarding securities transactions by directors of the Company. Having made specific
enquiry to the directors, all the directors confirmed that they had complied with the required
standards as set out in the Model Code and its code of conduct regarding directors’ securities
transactions with the Company for the six months ended 30 September 2019.

AUDIT COMMITTEE

The audit committee has reviewed with management the accounting principles and practices
adopted by the Group and discussed internal control and financial reporting matters
including the review of the financial statements of the Group for the six months ended 30
September 2019.
The audit committee comprises three independent non-executive directors of the Company,
namely Mr CHEUNG, Johnson, Mr LEE Tak Chi and Mr CHEUNG Ka Wing.
LIST OF DIRECTORS

As at the date of this report, the Board of Directors comprises four executive directors,
namely Mr LEUNG Wai Sing, Wilson, Mr LEUNG, Jimmy, Mr LIU Lup Man and Mr LEUNG
Kam Fai, Peter and three independent non-executive directors, namely Mr LEE Tak Chi, Mr
CHEUNG, Johnson and Mr CHEUNG Ka Wing.

By order of the Board
Alco Holdings Limited
LEUNG Wai Sing, Wilson
Chairman and Chief Executive Officer

Hong Kong, 28 November 2019

28 ALCO HOLDINGS LIMITED Interim Report 2019