The Directors of Megachem strongly support the principles of transparency, accountability and integrity as set out in the Code of Corporate Governance 2018 (the “Code”). This report describes the Company’s corporate governance policies and practices which were in place during the financial year ended 31 December 2024 (“FY 2024”), with specific reference to the Principles and Provisions of the Code and accompanying Practice Guidance. The Code aims to promote high levels of corporate governance by putting forth Principles of good corporate governance and Provisions with which companies are expected to comply. The Practice Guidance complements the Code by providing guidance on the application of the Principles and Provisions and setting out best practices for companies. Pursuant to Rule 710 of the Listing Manual Section B: Rules of Catalist of the Singapore Exchange Securities Trading Limited (the “SGX-ST”) (“Catalist Rules”), the Board confirms that the Company and Group, have for FY 2024 complied with the Principles as set out in the Code. The Board also confirms that where there are deviations from the Provisions of the Code, explanations for the deviation and how the Group’s practices are consistent with the intent of the relevant principle are provided in the sections below:- BOARD MATTERS The Board’s Conduct of Affairs Principle 1: The company is headed by an effective Board which is collectively responsible and works with Management for the longterm success of the company. Provision 1.1 of the Code: Directors are fiduciaries who act objectively in the best interests of the Company As at the date of this report, the Board and its committees comprise the following members, all of whom possess the appropriate core competencies and diversity of experience needed to enable them to effectively contribute to the Group. Name Designation Audit Committee Nominating Committee Remuneration Committee Executive Committee Mr Yeo Wee Kiong Independent and NonExecutive Chairman Member Chairman Member — Mr Sidney Chew Choon Tee Managing Director — Member — Chairman Mr Sim Guan Seng Independent Director Chairman Member Member — Mr Daniel Loh Hong Chye Independent Director Member — Chairman — Mr Yasutaka Kawamura Non-Executive and NonIndependent Director — — — — Mr Francis Yau Thiam Hwa Chief Financial Officer — — — Member Ms Kwok Hwee Peng Group Finance Manager & Company Secretary — — — Member 49 ANNUAL REPORT 2024 Corporate Governance Report
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