Corporate Governance Policy

The Company established good corporate governance policies for the directors, executives and employees to adhere to as an operational guideline. The Company disseminated the corporate governance on the Malee Intranet network and on the Company’s website, www.maleegroup.com, so that directors, executives, employees, as well as third parties who visit the website know, understand and adapt the governance policy for the perceivable operation.

Policy Overview and Corporate Governance Practices

The Company is well aware of operating business with responsibility and fairness. Therefore, the Company realizes the importance of good corporate governance and management which increases competitiveness and e ffi c i ency of management by focusing on creating value and promoting sustainable business growth, and on creating investor confidence which leads to long-term value creation for the Company, shareholders and all stakeholders, corporate governance. This enables the Company’s operations to be transparent and verifiable.

Over the past years, the Board of Directors has approved the corporate governance policy under the Good Corporate Governance Principles for Listed Companies 2012 by the Office of the Securities and Exchange Commission. There are five primary principles (CG Principles). Up until 2017, the Office of the Securities and Exchange Commission issued the “Principles of Good Corporate Governance for Registered Companies in 2017” (CG Code 2017) as a replacement for “Good Corporate Governance Principles for Listed Companies in 2012” (CG Principles 2012). The Board of Directors resolved to adjust the corporate governance principles of the Company to be in the same direction as this new CG Code by continuing to focus on five principles as practical guidelines and adding the principles of the Board of Directors of the Company as the leaders or the highest responsible person in the organization to create sustainable value for the business to meet the expectations of the business sector, the shareholders and stakeholders, as well as the capital market and society as a whole. The Management Team gradually adjusted the details of the corporate governance of the Company.

According to the Meeting of the Board of Directors which was held on November 14, 2022, the Meeting reviewed the implementation of CG Code 2017 which includes eight guidelines as follows:

1. Recognize the roles and responsibilities of the Board of Directors as the organization leaders who create sustainable value for the business.
2. Determine the objectives and main goals of the business for sustainability
3. Strengthen the effective Board of Directors
4. Recruit and develop high-level executives and personnel management
5. Promote innovation and conduct business with responsibility
6. Ensure an appropriate risk management and internal control system.
7. Maintain financial credibility and disclosure.
8. Support participation and communication with shareholders.

In 2022, Malee has been evaluated in the Corporate Governance Report of Thai Listed Companies and received a “5-Star CG Scoring (Excellent)” among the Top Quartile Ranking from the National Corporate Governance Committee and the Thai Institute of Directors Association (IOD) for the fourth consecutive year.

In regards to the anti-corruption operations, the Company declared its intention to be a Private Sector Collective Action Coalition Against Corruption (CAC), organized by the Thai Institute of Directors Association, in cooperation with the Thai Chamber of Commerce, the International Chamber of Commerce, the Thai Listed Companies Association, the Thai Bankers Association, the Federation of Thai Capital Market Organizations, the Federation of Thai Industries, the Federation of Tourism Industries. The Company has been certified by the board of the CAC for its anti- corruption standards, and become a member of the Private Sector Collective Action Coalition.

Against Corruption on May 17, 2018. The validity of the certification is three years. Over the three years of certification, the Company has established a plan to maintain this certified qualification through, for example, training and communicating with the workforce to sustain their awareness of the Company’s policies, organizing ongoing promotional activities to shape employee behaviors and create awareness among the personnel within the organization, and promoting whistleblowing when encountering corruption within the organization. The Company has planned to extend the CAC coalition with its business partners by organizing training programs to educate them about the purposes and goals of this declaration of intentions, to create good and sustainable success together with partners, and invite them to jointly declare the intention of anti-corruption with the Company.

Malee Group Public Company Limited has been certified for the Anti-Corruption Standard first renewal for a period of 3 years ending March 2024.

8 Corporate Governance Guidelines

Malee Group Public Company Limited has been certified for the renewal of its membership in the Private Sector Collective Action Coalition against Corruption, certified on March 31, 2021, for a period of 3 years ending on March 30, 2024.