Page 174 - CRC_One Report 2021_EN

Business Overview and Performance Corporate Governance Financial Statements Enclosure

urgent field wards and procurement of medical supplies to Chulalongkorn Hospital and the Thai Red Cross Society
to support COVID-19 patients, as well as providing 200 “caring boxes” consisting of medicines and medical
supplies to be used in Chulalongkorn Hospital and the Thai Red Cross Society. Moreover, Central Retail supports
for those affected by Covid-19 in provincial areas in order to get through the crisis together. Central Retail
offer assistance, not only in Thailand but also in Vietnam through many projects for example donated
1,500 folding beds to two field hospitals and COVID-19 testing kit for local authorities in Vietnam, etc.

10.3 Governance
The current business operation aims to develop business in all dimensions and management with morality, ethics,
and transparency, auditable and traceable disclosure of information, responsibility towards all stakeholders
such as shareholders, employees, customers and competitors, as well as responsibility towards society and
the country. This results in business strength and sustainable growth. Any organization who conducts business
without good governance, it may affect operating costs, conflict of interest, reputation, credibility and inevitably
the trust and acceptance from investors and society.

Central Retail adheres to the principal of good corporate governance with transparent and good governance
ethics. Central Retail is committed to conduct its business under good corporate governance practices in
accordance with the law and related official measures for stable and sustainable growth.

Central Retail has also established guidelines to prevent risks that may lead to corruption or infringement of
copyright. The code of conduct has been prepared and updated regularly for directors, executives, employees
and related persons to adhere and use as a guideline in performing their duties and work with responsibility,
honesty and integrity including adhere to principles of transparency, accountability, and ethics for all stakeholders.

In this regard, Central Retail shall not neglect if they find any act involving fraud and, even if such action is beneficial
to the Company. Central Retail has established anti-corruption measures to reduce the risks that may cause by
corruption in the organization, starting from the preparation of Anti-Corruption Policy and other related policies
such as giving or receiving gifts, hospitality, or other benefit entertainment / reception policy, donation for charity
and sponsorship policy, political participation policy, conflict of interest policy, etc. Anti-fraud and corruption
training programs are continually arranged for executives and employees including informed those policies to
the stakeholders of Central Retail and emphasizes the Company’s position in anti-fraud and corruption. In addition,
Central Retail has encouraged its subsidiaries to join the Collective Action Coalition Against Corruption (CAC) network.

To prevent and mitigate corruption risk, Central Retail has a communication channel for stakeholders to report clues
and suggestions or directly complaint about corruption (Whistleblower) to the head of Internal Audit Department
or Chairman of Audit Committee (in case of complaints regarding Chief Executive Officer), and a committee
will be appointed to consider and investigate such complaints in accordance with a systematic, transparent,
and verifiable process. This is aimed to create confidence and trust in a fair investigation process for all stakeholders.

In 2021, Central Retail received a 5-star corporate governance assessment score or “Excellent” remark in the 2021
Corporate Governance Survey of Thai Listed Companies (CGR) from the Thai Institute of Directors (IOD) and
the Stock Exchange of Thailand (SET) after listed in Stock Exchange Market in 2020. This reflects the Company’s strong
commitment for sustainable business growth with good corporate governance, social responsibility including
innovation, customer care, growth of business group and good moral and ethical minds. This will be an important
part in cultivating corporate culture which directly reflects the operations of the organization in the future.
This anti-corruption is considered as a key foundation to bring Central Retail to be leading retailer in Thailand with
sustainable growth, incorporating with creating value and benefit to the society in which the Company operates.

174 Annual Report 2021 (Form 56-1 One-Report)