Sustainability Report GOVERNANCE Corporate Governance Objective To ensure that our business is sustainable, Megachem believes strongly in upholding the highest standards of corporate governance. We strive to ensure that the value of good governance is deeply embedded in our corporate culture and entrenched in our policies and processes. Approach We adopt the Code of Corporate Governance established by the Monetary Authority of Singapore and Singapore Exchange Securities Trading Limited. Our Corporate Governance Code is reviewed and endorsed by our Board of Directors annually. * More details about our corporate governance practices can be found in the Corporate Governance Report section of this annual report. Performance Highlights As a testimony to our high level of corporate governance, Megachem has been accorded many awards in the past. At the Singapore Corporate Awards 2018, Megachem Limited was awarded the Best Managed Board Award (Bronze) in the “less than $300 million market capitalisation” category. In the Singapore Governance and Transparency Index (SGTI) 2024 which ranks listed companies on its governance, transparency and sustainability practises, Megachem attained a score of 76 which is above the overall mean score of 69.3. 2024 2023 2022 76 84 81 SGTI Score 129 98 SGTI Rank 102 2024 2023 2022 Board Independence Independent Directors Non-independent Directors 60% 40% There are currently 5 directors of whom 3 are independent. Chairman of our Board is also independent. Megachem will continue to uphold the principles of good governance which in turn enhances the sustainability of our business. 78 ANNUAL REPORT 2024
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