Common use of Other Financial Services Clause in Contracts

Other Financial Services. Before the Group enters into any individual agreement(s) with Sinochem Finance, the finance department of the Company will obtain quotes from independent financial institutions for similar financial services. Such quotes, together with the offer from Sinochem Finance, will be reviewed by the general manager of the finance department of the Company to make sure that the fees charged by Sinochem Finance will be no less favourable than the fees charged by independent financial institutions for comparable services. The Company will report to the independent non-executive Directors every six months on the abovementioned agreement(s) entered into with Sinochem Finance together with information on the comparable offers obtained from independent commercial banks or financial institutions and any changes in the credit ratings of Sinochem Finance during the preceding six-month period. The Board considers that the above internal control procedures and corporate governance measures adopted by the Company concerning the continuing connected transactions with Sinochem Finance are appropriate and sufficient.

Other Financial Services. Before the Group enters into any individual agreement(s) agreements with Sinochem Finance, the finance department of the Company will obtain quotes from independent financial institutions for similar financial services. Such quotes, together with the offer from Sinochem Finance, will be reviewed by the general manager of the finance department of the Company to make sure that the fees charged by Sinochem Finance will not be no less favourable than the fees charged by independent financial institutions for comparable services. The Company will report to the independent non-executive Directors every six months on the abovementioned agreement(s) agreements entered into with Sinochem Finance together with information on the comparable offers obtained from independent commercial banks or financial institutions and any changes in the credit ratings of Sinochem Finance during the preceding six-month period. The Board considers that the above internal control procedures and corporate governance measures adopted by the Company concerning the continuing connected transactions with Sinochem Finance are appropriate and sufficient.