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CORPORATE GOVERNANCE

Since its founding a decade ago, VIS has implemented the principle of Corporate Governance into its day to day management and has enabled VIS to pursue the utmost benefits the shareholders. In 2003, VIS recruited a group of distinguished professionals from the industry, finance, and legal field to join its Board Of Directors (BOD). Audit, Compensation, and Corporate Governance & Nomination committees were established at the first meeting of the new BOD.

At the second meeting of the BOD, the Charters of three committees that empower the BOD functions of supervision and Corporate Governance were approved. In addition, VIS has established relevant by laws to implement major principles of Corporate Governance, including protecting shareholders' rights and interests, strengthening the powers of the board of directors, fulfilling the function of supervisors, and enhancing information transparency.

VIS has also established and effectively implemented a comprehensive internal control system. BOD and the management review the reports of the internal audit department regularly to ensure operational efficiency, and the accuracy of financial reporting, as well as compliance to all regulations.