Page 33 - Annual report eng 2019

Tycoons Worldwide Group (Thailand) Plc.

5. Disclosure and Transparency

The Board of Directors discloses the financial information, business activities, and other
business performance accurately, completely, efficiently, and timely that reflects the actual
financial status, complies with the Generally Accepted Accounting Principles (GAAP), and is
audited by independent auditor. In addition, the audit committee which is composed of
independent directors with no involvement with the company management will also help
review the give information.

The Company places the timely and accurately disclosure of financial and other information
that may affect the share price at priority through SET website. Moreover, the company has
also established Investor Relations Office. For investors and those who are interested in
obtaining the company’s information, they may contact Investor Relation Officer at Tel:033-
658-558or fax: 038-636-822 or E-mail Address: iro@tycons.com.
In 2019, IR officer has provided information to parities such as shareholders and analysts in
many occasions such as quarterly performance and invest projects.

Director’s remuneration; The Board of Directors has disclosed clearly the directors’
remuneration policies which is in response to the contributions and responsibilities of each
directors and the remuneration is approved by shareholders through shareholders’ meeting.

Managements’ remuneration: The Board of Directors has developed the management
remuneration policy that is fair and attractive enough for qualified people to take the position
and perform at high standard.

6. Responsibilities of the Board

The Board of Directors has played a role in setting the company’s goal, task, and budget,
and moreover oversaw the company operation according to its goal. The Board of Directors
has also made comments on the internal control/audit system to manage the risk and maximize
the company’s profitability.

Risk Management
The Board of Directors has adopted a risk management system for all material and
controllable risk and included the reporting and evaluating system in response the current
situation. In 2019, the Board of Directors has considered political risk, which now does not
affect the company directly. As for economic risk in exchange rate, the company has employed
forward contract to minimize the risk. All managements are responsible for risk management.
In assessing the risk, the chance of occurring and the impact it might create was examined, then
prevention measures were proposed. The Company’s internal audit has been performed audit
in relation to risk and then reported to the committee, so that the committee could report to the
Board of Directors in time.

Code of Ethics
The Board of Directors established the policy that encourage all employees to behave
honesty and properly and accountable to stakeholders, and shareholders at all time. This will,
in turn, become the organization culture that values social responsible.

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