Page 94 - TYCONS - ANNUAL REPORT 2022

Tycoons Worldwide Group (Thailand) Plc.

present the information to the Audit Committee. In addition, the Company will arrange
for the Audit Committee or auditors or independent experts, as the case may be, to
consider, audit and give opinions on the appropriateness of the price and reasonableness
of the transactions, and will disclose such transactions in the notes to the audited or
reviewed financial statements by the Company's auditors in the Annual Information
Report Form (Form 56-1 One Report).
2. The Company has a corporate governance policy of the Company to comply
with the requirements of the organization. The Directors Executives, including
employees or related persons shall use no inside information of the Company or of
Fastbolt International Pte. Ltd. for any financial benefit other than as may be normally
required. Except as publicly available information and does not use the company's assets
or business opportunities or that of Fastbolt International Pte. Ltd. in violation of the
rules as prescribed by the Securities and Exchange Commission of Thailand and
Securities and Exchange of Thailand.
3. Supervise and responsible the Company and Fastbolt International Pte. Ltd. to

have an internal control system, risk management system and anti-corruption system
appropriately, efficiently and concisely enough to ensure that the operations of the
Company and Fastbolt International Pte. Ltd. are in accordance with various policies,
company regulations, laws and guidelines regarding the corporate governance of listed
companies, as well as relevant regulations and rules of the Capital Market Supervisory
Board, the Securities and Exchange Commission of Thailand and Securities and
Exchange of Thailand.
4. The Board of Directors and Auditing Committee shall supervise the connected
transactions between the Company and Fastbolt International Pte. Ltd. which shall
comply with relevant regulations and rules of the Capital Market Supervisory Board, the
Securities and Exchange Commission of Thailand and Securities and Exchange of
Thailand, and also to comply with the accounting standard and disclose the transactions
on the remarks in the financial statement and on the yearly information report ( Form 56-
1 One Report ). The company will have measures for Fastbolt International Pte. Ltd. to
strictly follow.
5. In case of having transactions between them in particular, commercial
transactions that are normal business and/ or support normal business must be done with
commercial agreement and trade conditions in the manner that ordinary people should
act with independent contractors in the same situation. With the power to negotiate the
trade without influence (Arm’s Length basis) and prepare a summary of such transactions
to report to Audit Committee and Board of Directors for acknowledgment.
6. Other connected transactions which are not normal business transactions, must
be presented to Audit Committee to consider and give opinions on the necessity of the
entering the transactions to ensure that such transactions are reasonable based on
business benefits and highest benefit to company including price appropriateness and
conditions prior to transaction. Such connected transaction would be carried out as per
connected transaction according to the stock Exchange of Thailand, The Security
Exchange Commission Office and as specified by the Company.

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