China Mobile Limited is a Chinese state-owned telecommunication company that provides mobile voice and multimedia service and it incorporated in Hong Kong on 3 September 1997. The company was listed on both New York Stock Exchange and The Exchange of Hong Kong Limited. As of November 2012, China Mobile is the world’s largest mobile phone operator by subscribers with about 710 million.
In 2012, the company was once again Public Companies” by Forbes magazines. Selected as one of the “FT Global 50(Y’ by Financial Times and ‘The World’s 2,000 Biggest Aim & Mission The goal of the company has always been to enhance its corporate value, maintain its Main Stakeholders sustainable long-term development and generate greater returns for shareholders.
The controlling shareholder of China Mobile Limited is CHEM. (Group) which indirectly holds approximately 74. 08% of its share capital. The remaining share capital is held by public investors. The customers, local communities, industry peers, regulatory authorities as well as include in stakeholders of China Mobile Limited. Structure & Integrity of the Board The Board currently comprises of nine directors with Mr.. XSL Quahog as Chairman and Mr.. Al You as Chief Executive Officer. China Mobile has established a aggregation of duties and ensured there is no imbalance of power as the Chairman and CEO are represented by different persons.
All board meeting and committee meetings were attended by the directors in person. The company also has set up a specific communication channel with each of directors to ensure the timely disclosure of any changes of information. The acknowledgements from the directors of their responsibility for preparing the financial statements and the representation by the auditors of the Company about their reporting responsibilities were received by the Company. The Company also has set up some training session about New CPA 6. To ensure that all directors have complied the principles when they dealing related disclosure.
The Company has adopted the “model Code for Securities Transactions by Directors of Listed Issuers” to regulate the directors’ securities transactions. Annual report disclosed that none of the directors had any other interest in the share of the Company as of 31 December 2012. All directors have confirmed that they have complied with the Model Code. With the Company’s good policies and strategies, it suggested that all the directors should effectively fulfill both performance and conformance role and ensure the stakeholders interests.
