Dear Shareholder,

The Governance Committee (GC) consists of three members who have experience in good corporate governance of companies listed on the Stock Exchange of Thailand with an independent director as Chairman. The GC acts independently and strives for the Company to be a company with good corporate governance on par with international standards and in accordance with the objectives of the GC Charter. The GC is responsible for overseeing the policies and framework in matters of good governance as needed and overseeing the Group’s reputation and interests.

As for the performance and opinions of the GC for the year 2021, it can be summarized as follows:

  • The GC held two meetings with all three members attending each meeting. They have an annual self-assessment and are satisfied with their performance.
  • The GC reviewed key governance policies of the Company, such as the Corporate Governance Policy, the Code of Business Conduct, and the GC Charter. In this regard, the GC opined that in 2021, the said policies are still consistent with the current situation of the Company.
  • The GC reviewed the organization’s adherence to key good corporate governance principles, such as conformity with the SEC’s CG Code 2017, conformity with the Corporate Governance Report of Thai Listed Companies (CGR) of Thai Institute of Directors (IOD), and conformity with the requirements of Thai Investors Association (TIA) on the quality of Annual General Meeting of Shareholders (AGM). The GC believed that the Company’s corporate governance was sound, that it had increased trust among stakeholders from various groups. Compliance with the aforementioned practices yields visible results; for example, receiving from IOD an Excellent level for CGR Scores for the sixth year in a row, receiving full score (100) from the TIA for the quality assessment of the 2021 AGM, being consistently selected as a company on the list of sustainable stocks of the Stock Exchange of Thailand, and being recertified by the Private Sector Collective Action Coalition Against Corruption.
  • Providing effective corporate governance advice to organizations, such as the adaption to the adjusted assessment form for the CGR, which will be effective in 2023. As a result, the GC believes that it promotes the Company’s growth of excellent corporate governance.

As a result, when combining with the Group’s corporate governance performance in various fields, the Governance Committee therefore has the opinion that shareholders and stakeholders of the Group can believe in good corporate governance and culture of the Group, which will lead to the Company’s continued sustainable growth.

Mr. Charin Satchayan
Chairman of the Governance Committee