Corporate Governance Policy

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 efficiency 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, and 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.

At the Board of Directors meeting held on November 13, 2024, the meeting reviewed the adoption of the CG Code 2017, the best practices for good corporate governance, covering 8 principles of corporate governance, as follows:

1. Recognize the role and responsibilities of the Board of Directors as the leader of the organization in creating sustainable value for the business.
2. Define the objectives and main goals of the business that are for sustainability.
3. Enhance the effectiveness of the Board of Directors.
4. Recruitment and Development of Senior Executives and Human Resource Management
5. Promote innovation and conduct business responsibly.
6. Ensure that there is an appropriate risk management and internal control system.
7. Maintain financial credibility and disclosure.
8. Support shareholder engagement and communication.

Corporate Governance Report of Thailand Companies (CG Scoring)
In 2024, the Company was assessed for its corporate governance practices in accordance with the Corporate Governance Report of Thailand Companies and received a rating of 5 symbols (Excellent CG Scoring) from the National Corporate Governance Committee and the Thai Institute of Directors Association (IOD), marking the sixth consecutive year of achieving this recognition.

Private Sector Collective Action Coalition Against Corruption (CAC)
In terms of anti-corruption operations, the Company has declared its intention to join the Thai Private Sector Collective Action Against Corruption (CAC) and has been certified with the anti-corruption standard. The Company has been a member of the Thai Private Sector Collective Action Against Corruption since May 17, 2018, and has been granted a second renewal of its membership, valid until March 30, 2027.

Corporate Governance and Anti-Corruption Development Plan
1. Continuously build corporate ethics by providing knowledge and understanding, implementation, and setting an annual plan to develop and enhance corporate governance knowledge so that employees and executives can access information and communicate effectively.
2. Continuous plan to expand collaboration to partner companies and subsidiaries. One subsidiary, Malee International Co., Ltd., has joined the declaration of intent and has been certified by the CAC since March 30, 2023.
3. Partner Development Plan to expand alliances into sustainable trade partnerships to create business strength under transparent management with honesty and integrity. According to the principles of good corporate governance, it is stipulated that business partners of Malee Group Public Company Limited join the anti-corruption alliance by declaring their intention to combat corruption with Malee Group Public Company Limited.
4. Review risks according to the measures and audit systems specified in the annual work plan on an ongoing basis.

In 2024, from the continuous monitoring and investigation of complaints through all complaint channels, the Company’s CAC Working Group reported that there were no complaints related to corruption.