On 31 October 2025, HKBN Ltd. published its Risk Committee Terms of Reference, setting out the committee’s purpose, membership structure, duties, and reporting procedures. The Risk Committee was established by a board resolution on 22 January 2025 to guide and oversee the company’s enterprise risk management (ERM), focusing on risk appetite, profile, and tolerance.

According to the document, the committee must include at least three directors, with a majority being independent non-executive directors. It is required to hold meetings no fewer than twice a year. Adequate information and resources must be provided to the committee to ensure effective assessment of top risks, such as strategic, regulatory, and operational concerns. The committee is also authorized to obtain external professional advice and to work closely with the head of audit and risk.

The Terms highlight the committee’s role in reviewing the overall ERM framework and related policies, as well as advising on risk control and mitigation. Updates on material findings from regulators and internal audits that relate to risk assessments must be regularly reviewed. Committee members are expected to maintain direct access to management, and meeting minutes are to be recorded and made available for inspection by the board. The Risk Committee is also responsible for evaluating its own performance and reporting key decisions to the board.

The announcement confirms that these Terms of Reference will be accessible on the company’s website and via the Stock Exchange, ensuring transparency of the committee’s role and authority.