HTSC has released updated Terms of Reference clarifying the duties and operational guidelines of five specialized committees under its Board of Directors. The newly published document sets forth membership structures, decision-making procedures, and reporting requirements to strengthen corporate governance.

The Compliance and Risk Management Committee will review and approve broad compliance policies, corporate risk assessments, and major decision-related risk evaluations. The Audit Committee is empowered to supervise financial disclosures, internal and external audit activities, and internal control systems. It will also weigh in on the appointment, re-appointment, or dismissal of external auditors.

Under the revised guidelines, the Development Strategy Committee is tasked with aligning short-term, medium-term, and long-term strategic goals, while the Nomination Committee focuses on Board composition by assessing candidates for Board and senior management positions in accordance with established criteria. The Remuneration and Appraisal Committee sets performance evaluations and remuneration policies for directors and senior management.

The revised Terms of Reference become effective upon Board approval, superseding all previous rules. Provisions are included for meeting frequency, voting requirements, and confidentiality, ensuring that each committee operates transparently and remains accountable to the Board.