Page 29 - MPA ANNUAL REPORT 2016-2017

DRIVEN BY PASSION AND PRIDE

CORPORATE GOVERNANCE REPORT

Financial Statements

The Board bears responsibility for the preparation of the financial statements of the Authority for each financial period. These
statements present a true and fair picture of the financial situation of the Authority. They also highlight the gains or losses and
cash flows for the current financial period. In preparing the financial statements, the Board is required to:

(i) select appropriate accounting policies and implement them efficiently;
(ii) take reasonable steps for the prevention and detection of fraud and other irregularities and to safeguard the assets of the

Authority;
(iii) make judgments and estimates that are reasonable and prudent; and
(iv) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Authority will

continue in business.

Remuneration of Directors, Executives and Staff

The Directors sitting on the Mauritius Ports Authority Board and Committees are paid fees for their attendance, the amount of
which is determined by the MPA Board.

Remuneration arrangements for the Director-General and staff of the MPA are determined by the Board on the basis of a Human
Resources Development Report. The Authority’s remuneration policy provides for a review of salaries every four years.

A total sum of Rs 2,313,020 was paid to members of the Board and subsidiary Committees of the Board during the period under
review, that is, from January 2016 to June 2017.

Fees paid to members of the Board and Subsidiary Committees

Board/Committee Board Staff Audit & Risk Finance & Land Lease Corporate Total
Member Rs Committee Management Investment Management Governance Rs
Committee Committee Committee Committee
Mr Ramalingum Maistry* Rs
Mr Kechan Balgobin Rs Rs Rs Rs
Mrs Rajwantee Bucktowar
Mr Shekur Suntah* 300,000 88,000 0 76,000 56,000 0 520,000
Mr Om Kumar Dabidin 12,000 0 0 4,000 0 16,000
Mrs Vailamah 109,200
Pareatumbee 312,000 0 31,600 0 0 20,800 364,400
Mr Vivekanand Ramburun 308,000 0 0 0 68,000 0 485,200
Mr Doorgaprasad
Rajcoomar 224,000 0 15,600 0 0 0 239,600
Captain Wong Tat Chon 72,000 0 4,000 0 24,000 100,000
Wong Chung Toi 0
Mrs Mary Jane Law Yuk 272,000 0 22,400 0 52,000 24,000 370,400
Poon 0
Mr H. Appadoo 0 0 0 0 44,000 0 44,000
Mr Vedacharya Vyas 0
Sharma Chuckun 0 0 0 0 64,000 0 64,000
Mr Yodhun Bissessur 0 0 0 185,200 8,000 0 8,000
Mrs Roshni Bissessur
Mr Vinod Seebun 0 0 0 69,420 0 69,420
0 0 0 28,000 0 28,000
Total 0 0 0 0
1,500,000 88,000 73,600 4,000 4,000
397,420 68,800
2,313,020

*Messrs. Maistry and Suntah were not paid any Board fee but were remunerated a total fee of Rs 1,270,500 and a total salary of Rs 3,411,000 for the period
ended June 2017 respectively as Chairman and Director-General of the MPA.

MAURITIUS PORTS AUTHORITY | ANNUAL REPORT 2016-17 27