Page 65 - One Report Thai Final_ENG_2021

Tycoons Worldwide Group (Thailand) Plc.

Scope and Responsibility of the Board
The Board of Directors has set a clear scope of responsibility of the board of
directors (refer to page 35-39), which is followed strictly by the board in 2021.

Internal Control/Audit System
The company has developed the internal control system to monitor and audit the
area including finance and operation to ensure that they comply with the law and
regulations. It would provide the balancing mechanism for the company to protect the
shareholders’ investment and the company asset. The company established internal
auditing unit to audit and ensure that all departments are operated in accordance with the
regulations, and moreover to assess the efficiency of the auditing work. The board of
directors ensured that the internal auditing unit is independent and can serve as balancing
mechanism. In 2021, the internal auditor has presented the report on the efficiency of the
control system to the board of audit committee and board of directors for review.

7. Corporate governance structure and significant information related to the Board
of Directors, subcommitees, executives, employees and others

7.1 Management structure
The management structure of the company is composed of the Board of Directors,
the audit committee and the management team, details of which are as follows:

7.2 Information on the Board of Directors

The Board of Directors as at Dec 31,2021

No. Name-Last Name Position
1 Ms. Lu, Yen-Chuan Chairman of Board
2 Mr. Huang, Wen-Sung Director
3 Mr.Natthawat Thanapinyanun Director
4 Ms. Hwang, Feng-Mei Director
* Mr. Surabhon Kwunchaithunya Independent director and Chairman of the
Audit Committee
5 Mr. Navin Vongchankit** Independent director and Chairman of the
Audit Committee
6 Mr. Jirawat Huang Independent director and Audit Committee
7 Mr. Phiphat Wangphichit Independent director and Audit Committee

* Mr. Surabhon Kwanchaithunya resigned from the position of independent director and
Chairman of the Audit Committee effective from September 30, 2021 onwards.
**Appoint Mr. Navin Vongchankit as Independent Director and Chairman of the Audit
Committee effective from October 20, 2021onwards.

Directors authorized to sign on behalf of the company

The authorized directors who may sign to bind the company are two of the following
Mr.Huang, Wen-Sung; Ms.Lu, Yen-Chuan; Mr.Natthawat Thanapinyanun and Miss
Hwang, Feng-Mei who must jointly sign, together with the affixation of the official
company stamp.

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