CG Policies and Compliance
The Company understands and realizes the importance of good corporate governance. It means that the Company’s management and administrations are efficient, transparent, and auditable which leads to the trust and confidence to the shareholders, investors, other stakeholders.
In addition, good corporate governance shall add a firm’s value and contribute to the sustainable growth of the Company. The Company has complied with the corporate governance guidelines which comprise of five sections as follows:
Policies and Practices Relating to Stakeholders
The company has complied with the corporate governance guidelines which comprise of five sections as follows:
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The Board of Directors prioritizes the rights and equality of shareholders. It is clearly specified in the corporate governance policy that shareholders have the right to receive share certificate, transfer shares, receive sufficient information in a timely manner and appropriate for decision making. Shareholders shall have the right to attend and vote at shareholder meetings to decide on important policy changes as well as the right to elect and dispose directors, the right to approve the appointment of an auditor, and the right in profit sharing.
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Prior to an Annual General Meeting of shareholders, Shareholders have the right to receive an invitation letter and information regarding the date, time, and venue of the meeting, agenda, rules, and procedures in attendance. (https://www.bangkokchainhospital.com/storage/document/shareholder-meeting/agm2024/bch-agm2024-invitation-full-en.pdf) In 2024, the Company held its Annual General Meeting of Shareholders on April, 24 2024 via Electronic Meeting (E-AGM) The meeting shall be broadcasted from Bangkok Chain Hospital Public Company Limited, Head office No.44 Moo 4, Chaengwattana Road, Pakkret, Nonthaburi. The Company published Annual General Meeting documents on March 26, 2024 on the Company's website in both Thai and English versions. The Company sent invitation letter with details of the meeting agenda, opinion of the Board of Directors, all relevant information on matters to be decided at the meeting, as well as the date, time, and venue of the meeting, map, annual report, and power of attorney A, B, and C in Thai and English to shareholders on March 26, 2023 (at least 14 days prior to the meeting date), delivered by Thailand Securities Depository Company Limited. In addition, the Company had a policy to offer more options for shareholders by nominating at least 1 independent director to be a shareholder's proxy for shareholders who were unable to attend the meeting in person. On November 29, 2023, the Company announced information on the website of the Stock Exchange of Thailand and the Company's website at www.bangkokchainhospital.com in the Investor Relations section to open an opportunity for shareholders to propose agendas of the Annual General Meeting 2024 up until January 31,2024
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At the shareholder meeting, The Company implemented a technology for registration and vote counting to provide clear and transparent results. In addition, the Company invited independent individuals from legal consulting companies to witness the meeting and inspect the voting and vote counting to ensure a transparent and accurate meeting. At the Annual General Meeting 2024, all of the Board of Directors attended the meeting and encouraged all shareholders to participate and exercise their vote or authorize any persons to attend the meeting or one of the independent directors to vote on their behalf in case they were unable to attend the meeting. The Board of Directors also provided an equal opportunity for shareholders to express their opinions, ask for explanations, or inquire. Important inquiries and opinions were recorded in the minutes of the Annual General Meeting by the Company Secretary.
Agenda Meeting Attendees Approve Disapprove Abstain Voided Ballot Share % Share % Share % Share % 1 This was to present information at the meeting so no vote was required. 2 1,033 1,971,210,082 99.78 4,283,948 0.22 - - - - 3 1,033 1,971,207,082 99.78 4,283,948 0.22 3,000 - - - 4 1,033 1,957,840,307 99.11 17,653,723 0.89 - - - - 5.1 1,033 1,864,225,630 94.37 111,268,400 5.63 - - - - 5.2 1,033 1,783,298,296 90.27 192,195,734 9.73 - - - - 5.3 1,033 1,552,863,027 78.61 422,631,003 21.39 - - - - 5.4 1,033 1,547,281,779 78.32 428,212,251 21.68 - - - - 61/ 1,033 728,993,030 100.00 - 0.00 1,000 - - - 71/ 1,033 728,993,830 100.00 - 0.00 200 - - - 1/ Agenda 6 was to review and approve directors' remuneration in 2024 while Agenda 7 was to review and approve directors' pension. There were 5 directors who were also the Company’s shareholders and registered to attend the meeting with a total of 1,246,500,000 shares. These directors did not have voting rights as they were stakeholders in the said agenda.
- Following the shareholder meeting, The Company submitted the meeting resolutions to the Stock Exchange of Thailand according to regulations within 14 days after the shareholder meeting, as well as publishing the minutes of the meeting on the Company's website in the Investor Relations section to provide quick and convenient access of minutes to shareholders and general investors. (https://www.bangkokchainhospital.com/storage/document/shareholder-meeting/agm2024/bch-agm2024-minute-th.pdf)
- The Company treats shareholders and stakeholders equally and fairly.
- The Company has a clear management structure and measures to prevent conflicts of interest. For example, in case the Company deems that conflicts of interest may arise from any directors, such director shall abstain from voting. The Company has appointed the Audit Committee to share opinions and review the validity of related transactions to present to the Board of Directors. In addition, the Company has disclosed related transactions in the financial statements in accordance with financial reporting standards.
- The Company has informed relevant details in the invitation letter prior to the shareholder meeting sufficient for decision making on each agenda, including distribution of the dividend, appointment of directors, consideration of directors’ remuneration, appointment of auditors and determination of audit fees, as well as other important matters such as the Company's regulation amendment, share issuance and offering etc.
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The Company encourages shareholders to use a power of attorney when they are unable to attend the meeting in person by indicating at least 1 independent director as their proxy.
In 2024, details on shareholders’ attendance are as follows:
Number of Attendees Shares % Total Registered Shareholders 20,148 2,493,747,984 100.00 Meeting Attendees 1,033 1,975,494,030 79.22 Attended in person 22 1,246,660,952 63.12 Authorized 1,011 728,833,078 36.90 - Authorized to independent director 1,005 629,380,916 86.35 - Authorized to other individuals 6 99,452,162 13.65 - The Company has given shareholders the opportunity to exercise their rights in appointing individual directors. In addition, the information has been provided on the website of the Stock Exchange of Thailand on November 29, 2023 and on the Company's website to allow shareholders to consider nominating individuals as company directors for the Annual General Meeting 2024 up until January 31, 2024.
- The Company requires all directors and executives to report their securities holdings to the Board of Directors on a regular basis.
The Company places importance on the rights of all groups of stakeholders. Details are as follows:
1. Shareholders and Investors
The Board of Directors has policies and guidelines to treat shareholders equitably and equally as follows:
- Perform its duties with integrity as well as deciding with consideration of transparency, caution, and fairness to all shareholders equally without discrimination. for the utmost benefit of shareholders
- Present the Company’s status, performance, financial position, accounting, and other reports on a regular basis in an accurate manner
- Inform all shareholders of the organization's future trends, both positive and negative, based on the possibilities with sufficient and reasonable supporting information
- Refrain from seeking benefits for themselves and others by using information that is not made public or taking any action that may lead to conflicts of interest with the organization.
2. Employees
The Company recognizes the importance of its employees who are considered as essential resource that supports and drives the organization to achieve its business goals. Therefore, the Company has policies to ensure employees’ good quality of life by providing fair working conditions, appropriate welfare, career development opportunities, as well as safe and hygienic working conditions. The guidelines are as follows:
- Strictly comply with law and regulations regarding employees
- Provide safe and proper working environment for employees’ lives and properties
- Treat employees well and respect their individuality and human dignity
- The Company fairly determines employee compensation according to their responsibilities and capabilities. Proper welfare are provided to employees, including the establishment of a provident fund and reimbursement of medical expenses in network hospitals.
- Consider the appointment and transfer, as well as fair rewards and penalties with consideration of employees’ knowledge, capabilities, and suitability
- The Company considers its employees as valuable resources that shall be treated fairly. Thus, there are guidelines for continuously developing its personnel, such as organizing Excellence Management training in collaboration with Thammasat University Consulting Networking and Coaching Center.
- The Company focuses on recruitment, employment and operations without discrimination, which covers employees at all levels and all vulnerable groups, such as the disabled and other underprivileged people.
- The Company encourages its employees to adhere to the energy saving and environmental management policies for resource efficiency.
- Avoid unfair actions which may affect job security or threaten and put pressure on the employee's mental state.
- Employees have the rights to file a complaint when they have been treated unfairly according to the established system and process.
- Open for feedback and suggestion from employees at all levels equally and equitably
3. Business Partners
The Company conducts business with partners and others parties according to trade terms and conditions or agreements that have been entered into in a fair and ethical manner, taking into account the reasonableness of price, quality and service.It also places importance on environmentally friendly procurement and conducting business with partners who are environmentally responsible to build a good relationship along with driving partner capabilities and sustainable growth of the Company and subsidiaries. The Company has set guidelines for business partners as follows:
- Partners shall conduct business with integrity, transparency, honesty, accurate information disclosure, verifiability, and strict compliance with related laws.
- Partners shall fairly treat its competitors with fairness and not seek for their confidential information in a deceitful manner.
- Partners shall refrain from requesting, receiving or providing benefits dishonestly or conducting activities that lead to corruption risks.
- Partners shall have no conflicts of interest with the Company and its subsidiaries and never exploit the Company and its subsidiaries.
- Partners shall not disclose the confidential information without consent.
- Partners shall not violate any intellectual property.
- Partners shall establish complaint channels for stakeholders and the process to investigate and follow up on complaints for complainants.
- Partners shall strictly comply with labor law and human rights principles.
- Partners shall comply with occupational health and safety laws as well as encouraging its employees to acquire knowledge and understanding on safety and emergency procedures.
- Partners shall strictly comply with environmental laws and regulations from the government sector and establish measures to mitigate and minimize environmental impacts caused by its services.
- Partners shall conduct the risk assessment and regularly provide the trainings to handle emergency situations.
Partner Code of Conduct: https://www.bangkokchainhospital.com/storage/document/cg/bch-code-of-conduct-for-business-partners-th.pdf
4. Creditors
The Company treats its creditors fairly by strictly adhering to the conditions, contract specifications and never spend the funded loan in contrast with the objectives of the agreement with the moneylender. In case where the Company is unable to fulfill its contractual obligations, the Company shall report to creditors in advance for mutual resolutions.
5. Customers/ Patients
The Company is committed to provide high-quality, standardized, and safe services to its patients/customers. Thus, it has implemented HA (Hospital Accreditation) standards for hospital development and evaluation by The Healthcare Accreditation Institute (Public Organization) supported by the Ministry of Public Health which cover the hospital's health promotion. Joint Commission International (JCI), which is an international standard for hospital quality, has also been applied to providing services and improving the service quality for patients.
6. Competitors
The Company has policies to treat business competitors with fair competition and never seek for their confidential information in a deceitful or inappropriate manner based on the following guidelines:
- Treat its competitors with fair competition
- Never attempt to defame its business competitors with false accusations
- Never violate confidentiality or obtain unauthorized access to the trade secret
7. Community, Society, and Environment
The Company conducts business with responsibility to the community and society. It places an emphasis on proper compliance with standards regarding safety, security, hygiene and the environment as well as considering the impact on natural resources and the environment. The guidelines are as follows:
- Continuously raise awareness on social and environmental responsibilities among employees at all levels
- Regularly spend a portion of profits on activities that contribute to society and environment
- Conduct business with minimal impact on the society, environment, and people's quality of life as well as encouraging the Company's business partners to recognize and conduct business with environmental responsibility
- Conduct, cooperate on or control strict compliance with legislative intent and regulations issued by regulatory agencies
- Place importance on community and social activities, focusing on social, community, and environmental development, as well as on preservation of natural resources, for example, establishing mobile medical units, promoting physical activities for good health and supporting patients who need financial assistance etc.
8. Anti-Corruption
The Company conducts business against all forms of corruption by implementing risk management and inspection processes to prevent and suppress corruption and misconduct. It also supports an organizational culture that adheres to integrity and righteousness. In 2024, the Board of Directors reviewed anti-corruption policies and guidelines and deemed that they still aligned with the Company’s business operations and were appropriate for the current situations. Furthermore, there were no significant fault regarding anti-corruption and non-compliance with relevant laws or regulations, as well as the breach of business code of conduct.
The Company completed the certification process and was a member of the Thai Private Sector Collective Action Against Corruption. Additionally, the Company continues to implement related policies and measures as well as communicating internally and externally, such as disseminating anti-corruption policies on the website www.bangkokchainhospital.com regarding good corporate governance, employee training and orientation for better understanding, as well as regularly informing partners and contractors to ensure transparent procurement and business operations in accordance with established policies.
- The Company prohibits bribery in all its forms for all activities related to the Company's business operations. No facilitation fee in any forms is offered to government officials, both directly and indirectly. In case where the company is required to donate for charity, provide business gifts or financial support for any activities, it shall be conducted in a transparent manner without intention to influence public/private officials to perform inappropriate actions.
- These policies shall be announced and published both internally and externally and serve as guidelines for all executives and employees to adhere to ethical principles. The Company has determined strict penalty measures on executives and employees involved in internal corruption, bribery, or any form of corruption.
- The Company communicates and emphasizes these measures through orientation and internal trainings to ensure that all executives and employees are aware of the importance of the anticorruption policies. The Company also communicates with its employees about the Company's commitment to preventing and combating all forms of corruption.
- The Company has established appropriate internal control system to prevent its employees from committing or being involved in corruption.
- The Company have policies for whistleblowing and filing a complaint, as well as providing communication channels for employees and those involved to report suspicious activities to ensure that they are protected and that officers will be assigned or appointed to investigate every trace reported in a transparent and timely manner.
- • The Company has established clear guidelines regarding anti-corruption, which were approved at the Audit Committee meeting and the Board of Directors meeting on August 15, 2017 with an annual review at the Board of Directors meeting No. 1/2025 on January 13, 2025. The Company has continuously implemented relevant policies and measures, as well as communicating internally and externally, for example, disseminating anti-corruption policies on www.bangkokchainhospital.com regarding good corporate governance, employee training and orientation for better understanding, as well as regularly informing partners and contractors to ensure transparent procurement and business operations in accordance with established policies. More details on anti-corruption policies and guidelines are available on the Company's website.
Anti-Corruption Policy: https://www.bangkokchainhospital.com/storage/document/cg/bch-anti-corruption-policy-th.pdf
Anti-Corruption Handbook: https://www.bangkokchainhospital.com/storage/document/cg/bch-whistleblowing-and-complaint-policy-th.pdf
9. Human Rights
The Company is committed to treat its employees equally, fairly, and respectfully. Equal treatment is conducted regardless of gender, religion, culture, race without violation of sexual rights. To demonstrate this commitment, the Company has therefore established human rights policies and regulations for directors, executives, employees, and all relevant stakeholders to strictly adhere which can be summarized as follows:
- The Company supports, promotes and respects human rights and treat other individuals respectfully and equally. This includes employees, customers or patients, business partners, stakeholders, and all vulnerable groups without discrimination in terms of physical or mental difference, religion, race, nationality, skin color, gender, language, age, social status, marital status, place of origin, culture, opinions, or any other matters.
- The Company will definitely not engage in actions that violate human rights (Zero Tolerance Policy), especially the employment of children under the legal age specified by employment laws and the employment of forced labor and illegal migrant workers for business operations and in the supply chain.
- The Company provides complaint channels regarding human rights violations related to or arising from the Company's operations. It places an emphasis on respecting the rights of complainants and whistleblowers. The Company will investigate and handle complaints transparently without delay.
- • The Company has established clear human rights policies, which were approved at the Board of Directors meeting on January 16, 2023 with an annual review at the board of Directors meeting No. 1/2025 on January 13, 2025. The Company has continuously implemented relevant policies and measures, as well as communicating internally and externally to create and maintain an organizational culture that adheres to human rights and does not support or promote activities that violate human rights principles. More details on human right policies are available on the Company’s website www.bangkokchainhospital.com in the good corporate governance section.
Human Rights Due Diligence: https://www.bangkokchainhospital.com/storage/document/cg/bch-human-rights-policy-th.pdf
10. Intellectual Property
The Company has determined information and communication technologies as essential factors to improve work efficiency. Therefore, every employee is required to take responsibility for the information in their possession and prevent unauthorized access. Dissemination or reproduction of documents that violate the copyright laws are not encouraged, as well as the use of products that infringe on intellectual property.
11. Government
The Company conducts business to strengthen and develop the national prosperity by adhering to relevant laws, rules, regulations and code of conducts according to general business etiquette.
The Company has information disclosure policy regarding the operations and performance of the company which shall be disclosed in an accurate, complete, consistent, timely, transparent, and reliable manner. Shareholder structure shall be presented clearly to show ultimate shareholders. Details on shareholding structure as well as the corporate governance are available in the annual information disclosure form (56-1 One Report).
Disclosure Policy:www.bangkokchainhospital.com/storage/document/cg/bch-information-disclosure-policy-th.pdf
- The Company has clearly and transparently established a policy, which had been approved by shareholders, on remuneration for directors. In this regard, the remuneration of the Company's executives is determined with the consideration of remuneration data of companies in the same industry in similar size, the Company's turnover and each executive’s performance.
- The Board of Directors is responsible for the consolidated financial statements of the Company and its subsidiaries, as well as the financial information in the annual report. The financial statements are provided in accordance with financial reporting standards by selecting and adhering to appropriate accounting policies with caution and best estimation. Important information shall be sufficiently disclosed in the remarks on financial statements. The Company has appointed the Audit Committee which consists of independent non-executive directors who are responsible for the quality of the Company's financial reports and internal control system.
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The Company has policies to have investor relations mangers responsible for complete, accurate, truthful, reliable disclosure of information in a timely and transparent manner, as well as equally and fairly communicating with third parties, such as shareholders, qualified institutional buyers, general investors, analysts, and related departments. The main activities in 2024 are summarized as follows:
Activities Amount of activities in 2024 Annual General Shareholders Meeting 1 time Analyst Meetings 4 times Opportunity Day 4 times Statement of operating results to the public communication 4 times Domestic and International Roadshows 24 times Company Visits / Conference Calls 108 times - The Company provides information regarding the Company and its performances, financial statements, and information reported to the Stock Exchange of Thailand. More details are available on the Stock Exchange of Thailand’s website at www.set.or.th and the Company’s website at www.bangkokchainhospital.com. In cases where investors and related parties have questions or inquiries for additional information, please contact the Finance Director in charge of Investor Relations via email ir@bangkokchainhospital.com or via the Company’s website at www.bangkokchainhospital.com or call +662-836-9940
Whistleblowing
Stakeholders may file a complaint regarding operations which violate the laws, a breach of or non-compliance with the Company’s regulations via the following channels:
- Email: report@bangkokchainhospital.com
- Postal: Addressed to Complaint Handler, Bangkok Chain Hospital Public Company Limited, World Medical Hospital, 22nd Floor, 44 Moo 4, Chaengwattana Road, Pakkred Subdistrict, Pakkred District, Nonthaburi Province 11120
1. Structure of the Board of Directors and Subcommittees
The Company's Board of Directors consists of people with knowledge and capabilities in various fields who play an essential role in determining the Company's policies in collaboration with senior executives, planning both short-term and long-term operations, as well as setting financial policies and risk management and the organization overview. They also have a pivotal role in supervising, inspecting and evaluating the Company's and senior executives’ performances to ensure that they align with the plans.
2. Roles, Duties, and Responsibilities of the Board of Directors
The Company's Board of Directors engages in establishing the Company's visions, missions, strategies, goals, business plans, and budgets. Additionally, they oversee the management to ensure efficient and effective implementation of business plans, as well as establishing internal control systems, internal audits, and appropriate risk management measures. These operations have been regularly monitored in the Board of Director meetings. Moreover, scope of powers of the Board of Directors, Audit Committee, Executive Committee, Sustainability, Governance and Risk Management Committee, Nomination and Remuneration committee, as well as the Chief Executive Officer has been clearly and transparently determined.
The Company has established regulations and guidelines of business code of conduct in writing, as well as penal provisions. This is intended to guide stakeholders in carrying out their duties in line with the Company's missions with integrity. The Company has policies and procedures for addressing ethical issues, ensuring compliance with laws, moral standards, and societal customs. Furthermore, the Company upholds ethical practices concerning service charges and service recipients have the right to request details and expense for medical treatments. The Company adheres to the Health Facility Act B.E. 2541 (1998) and also complies with ethical standards in public relations, adhering to the Private Health Facility Act.
The Company has a clear management structure and measures to prevent conflicts of interest. For example, in case the Company deems that conflicts of interest may arise from any directors, such director shall abstain from voting. The Company has appointed the Audit Committee to share opinions and review the validity of related transactions to present to the Board of Directors. In addition, the Company has disclosed related transactions in the financial statements in accordance with established financial reporting standards.
3. Recruitment Criteria and the Appointment Process of Directors
For the selection of company directors, the Board of Directors collectively reviews and selects individuals to serve as directors, taking into consideration the board diversity, necessary skills and experiences of directors, qualifications and expertise beneficial to the company or a Board Skills Matrix. The suitability is assessed based on qualifications, experiences, expertise, and past performance as company directors. Additionally, there is no gender bias to enhance diversity in the recruitment of qualified individuals as directors who shall have no prohibited characteristics according to laws and the Notification of the Securities and Exchange Commission, Thailand. Furthermore, the Board of Directors meeting No. 2/2023 on February 28, 2023 appointed the Nomination and Remuneration Committee to support the recruitment and selection of directors with qualifications suitable for the Company's business strategies, as well as evaluating performance and considering appropriate remuneration.
The procedures of appointing the Board of Directors are as follows:
- One shareholder holds one vote per share.
- Shareholders shall cast their votes to individually elect directors.
- Individuals who receive the highest number of votes in descending order are elected as directors, up to the designated number of directors. In the event that the number of individuals with tie votes exceeds the designated number of directors, the Chairman shall cast the deciding vote.
4. Board of Directors Meeting
The Board of Directors determines at least 4 meetings per year with additional extraordinary meetings held as necessary. Clear agendas are set in advance with regular performance monitoring agenda. The Company sends invitation letters along with the agendas and documents at least 7 days prior to the meeting to provide directors sufficient time to review the information before attending the meeting. Furthermore, the Board of Director meeting No. 1/2024 held on January 19, 2023 appointed an independent director to jointly determine the agendas of the Board of Director meetings to ensure compliance with corporate governance code for registered companies in accordance with Principle 3 Strengthen Board Effectiveness that balances power between the management division and the Board of Directors. In each meeting, the Chairman provides an opportunity for each director to express their opinions independently. In cases where any director has a vested interest in the matter under consideration, he or she is required to inform the meeting, refrain from expressing opinions, and abstain from voting on that specific matter. The minimum quorum required for decision-making at a board meeting is at least two-thirds of the entire board.
5. Remuneration
The Company has established a clear and transparent remuneration policy for directors, which has been approved by shareholders. The remuneration for executives is determined with the consideration of remuneration data of companies in the same industry in similar size, the Company's turnover and each executive’s performance. Furthermore, the Board of Directors meeting No. 2/2023 on February 28, 2023 appointed the Nomination and Remuneration Committee to support the recruitment and selection of directors with qualifications suitable for the Company's business strategies, as well as evaluating performance and considering appropriate remuneration for directors.
6. Internal Control and Audit System
The Company places importance on effective internal control system at both the managementand operational levels. Clear responsibilities and authorities for employees and executives have been defined. There are controls in place to oversee asset usage and duties are segregated among employees, control monitors, and evaluators to ensure appropriate checks and balances. Additionally, the Company has an internal control system related to financial operations, including a financial reporting system that presents reports to the executives in charge.
The Company has appointed internal auditors from Dharmniti Internal Audit Co., Ltd., an independent internal audit firm, with appropriate qualifications to serve as the Company’s internal auditors. The selection is based on the adequacy of personnel, experience, knowledge, skills, and independence of the internal auditors to perform the duties of auditing various parts of the Company's operations. This is in accordance with the specified evaluation criteria for the adequacy of the internal control system.
The internal audit department is responsible for examining the operations of all units, conducting regular audits based on the annual audit plan, including the inspection of bookkeeping, bank deposit transactions, as well as conducting physical counts of inventory and fixed assets. In case of suspicion or any abnormal incidents within any unit, the internal audit department promptly investigates the operations of that unit the truth is ascertained. Then, the internal audit department regularly compiles audit reports and informs the Audit Committee of their findings.
7. Director and Executive Development
The Company's Board of Directors has a policy to promote and facilitate trainings and knowledge enhancement for its directors and executives to continuously improve and perform duties effectively through both internal and external training programs. Each member of the Board of Directors is required to undergo trainings to understand their roles as directors, committee members, and senior executives. The Board of Directors has participated in training courses provided by the Thai Institute of Directors (IOD), including the Director Certification Program (DCP) and the Director Accreditation Program (DAP).
For the orientation of new directors, the Board of Directors assigns the Company Secretary to prepare various information for the new directors. This is to ensure that the new directors are briefed on their roles, duties, responsibilities, the Company's policies, business information, and corporate governance practices before they assume their duties. This initiative aims to promote knowledge and understanding of the business for all directors, supporting them in performing their duties efficiently. Additionally, the Company has a policy to consistently enhance the knowledge of both directors and executives.