Annual Report 2019

113 Transport International Holdings Limited 2019 Annual Report Remuneration Report Criteria for Determining the Remuneration of Directors In line with good corporate governance practice, assessment of the remuneration of Directors is based on formal principles, which take into account both market practices and a tried and tested methodology. As in previous years, Directors’ fees for 2019 were determined based on the methodology developed in the “Higgs Except as disclosed above, no Independent Non-executive Director or Non-executive Director received any pension benefits or bonuses from the Group in 2019. The remuneration package of each Director, on a named basis, for the year ended 31 December 2019, together with 2018 comparisons, are given in note 7 to the consolidated financial statements on pages 177 and 178 of this Annual Report. Report” on the “Review of the Role and Effectiveness of Non-executive Directors” in the United Kingdom, in view of the likely workload, the scale and complexity of the business and the responsibility involved. Reference was also made to the results of a desk-top survey conducted by the Company on the remuneration of the directors of 20 major companies listed on The Stock Exchange of Hong Kong Limited. The fee structure for Directors in 2019 is set out as follows: Fee per annum HK$ Board Members – Chairman 546,000 – Other Directors 390,000 Audit and Risk Management Committee Members – Chairman 260,400 – Other members 186,000 Remuneration Committee Members – Chairman 70,000 – Other members 60,000 Nomination Committee Members – Chairman 70,000 – Other members 60,000 Standing Committee Members (except Executive Director) – Chairman 1,569,600 – Other members 264,000