Performance of the Committee

Evaluation of the performance of the Board of Directors

The Company has the policy to provide the Board of Directors with a performance appraisal at least once a year to help the Committee to have a review of the work issues, and any obstacles during the past year and to increase the effectiveness of the Committee in accordance with the principles of good corporate governance.

In this regard, in 2021, the Company has further revised the criteria for evaluating the performance of the directors in order to comply with the CG Code guidelines set by SEC. For example, the additional criteria that have been added to the performance appraisal of the Board of Directors for the Year 2021 such as

  • The Board has given importance and sufficient time to consider important matters relating to the Company’s sustainability strategy.
  • The Board has given importance and sufficient time to consider or to review the Company’s policy on key Risk in Company’s operation (Key Risk) and Sustainability Risk (ESG Risk).
  • All directors have attended training courses or seminars that enhances their knowledge in the past year, such as business related training courses, sustainable business operational course, Insider Information Prevention Course, and Courses on conflict of interest prevention etc.

The Company’s secretary will submit the performance appraisal form of the Committee to all directors to evaluate the annual performance assessment, both individually and in groups, which after each director has completed the assessment, the form will be sent back to the Company’s secretary to collect the evaluation scores of each director and summarize the results of the analysis of the performance assessment of the Board of Director for the year and to report to the Board of Directors to conside in order to achieve the objective stated above. In 2021, the results were assessed at the Board of Directors’ Meeting No. 5/2021 on December 23, 2021. The evaluation criteria would be calculated as a percentage of the full score for each item. If the score is higher than 85% = Very good, the range of 75 - 85% = Good, the range of 65 - 75% = quite good, the range of 50 - 65% = fair and less than 50% = should improve

The Performance appraisal of the Board of Directors is divided into 2 types as follows

  • Evaluation of the performance of the whole committee by assessed in various aspects : (1) the structure and qualifications of the Board of Directors (2) the roles, duties and responsibilities of the Board of Directors (3) the Board meeting (4) the performance of the directors (5) the relationship with the management ( 6) Director’s self-development and executive development The average performance evaluation of the entire committee for 2021 is 98%.
  • Evaluation of the performance of individual directors by assessed in various aspects : (1) the readiness of the directors (2) strategy formulation and business planning (3) risk management and internal control (4) preventing conflicts of interest (5) monitoring financial and operating reports (6) board meetings (7) other issues. The average individual committee performance evaluation for 2021 is 99%.