Operations and Governance

Our sustainability reporting council oversees our governance and strategy for sustainability, including risk management mechanisms that identify and mitigate potential risks across seven categories. We prioritize upholding integrity and ethics in all our operations, and our approach to regulatory compliance meets the highest standards. By focusing on these areas, we aim to drive continuous improvement in our sustainability performance and contribute to a more sustainable future for all.

Board of Directors and Committees

The Group’s Board of Directors has the dual role of formulating the strategic direction and setting governance policies for the Company. The Board has appropriate independence in composition, and diversity of ideas as well as backgrounds, allowing it to make decisions that are in the best interests of the Company. Currently, there are five directors: two executive directors and three independent directors (including two female directors). The Board holds a meeting every quarter and meets whenever necessary to perform its duties.

To assist in the implementation of the duties and functions of the Board, the Board of Medtecs has established several functional committees, including Audit Committee, Nominating Committee, and Remuneration Committee, collectively known as the Board Committees. The Board together with the Company’s senior management, also established a Sustainability Reporting Council, which reports to the Board and works closely with the Audit Committee.

• Sustainability Reporting Council

In recent years, the Group has focused on sustainable development and regularly monitors ESG issues that are related to the environment, society, and governance, which may affect the sustainable development of the business. This ensures the sustainable operation and development of Medtecs.

To continuously improve the management principles of sustainable governance, the Group established the Sustainability Reporting Council in 2017 as a cross-departmental task force responsible for sustainability initiatives. The Council is chaired by the CEO of the Group, with the Chief Financial Officer and the General Counsel as executive members, and department heads as members. Through regular senior management meetings, the council identifies the Group’s risks and opportunities related to the ESG issues and their impacts on operational activities. It formulates response measures and sustainability strategies, and coordinates the sustainability reporting work of various units.

The council is also responsible for supervising the progress and achievement of various carbon reduction and water conservation plans.

Risk Management

• Risk Management Mechanisms

Medtecs has actively established a robust risk management mechanism to identify all risks and threats and to take preventive measures in advance. Based on the materiality principle, we identify and evaluate risks related to the Company’s operations, including economic (including corporate governance), environmental, social, and other aspects, and prioritise the risks based on their potential impact on the Group to come up with appropriate response measures. Then we submit the findings to the Audit Committee for review. The risks faced by the Company mainly included the following categories:

• Integrity and Regulatory Compliance

Medtecs Group adheres to integrity governance as the cornerstone of its operations. We establish consistent and appropriate culture, values, and ethical behavior standards at all levels of the Company. The Board and functional committees follow the Code of Ethics and Professional Conduct and the Code of Conduct for Dealing in Securities to realize the goals of corporate integrity management.

Internal Control and Audit System

Medtecs set up the Internal Control Department comprising 3 members in 2021 dedicated to strengthening sound governance and management across the Group. The internal control and systems for the Company and its subsidiary in Cambodia were fully implemented in 2021, and implementation in relation to the Philippine subsidiary was completed in early 2022. In 2023, the Internal Control Department has initiated an internal review of the Company’s sustainability reporting processes.

Whistle-Blowing Policy

The Group is committed to complying with high standards of accounting, financial reporting, internal control, corporate governance, auditing requirements, and any related laws and regulations. To fulfil this commitment, a whistleblowing policy has been established to provide employees with channels to raise concerns while ensuring that they will be protected and not subject to retaliation or harm. Employees can report matters to their immediate supervisors, the Head of Human Resources or via email (whistleblowing@medtecs.com). Upon receipt of a report, the matter is referred to the Audit Committee and the Chairman for necessary action.

 

Privacy Policy

Medtecs’ global privacy policy is based on the U.S. California Consumer Privacy Act (CCPA) and the European Union’s General Data Protection Regulation (GDPR) as the highest guiding principles. This policy is published externally. The policy details the company’s approach to the collection of personal information in order to protect the rights of consumers and safeguard their data sovereignty rights.
 
 

Regulatory Compliance

To ensure that the Group and its subsidiaries comply with the relevant national laws and regulations, the Group’s Legal Department closely monitors any domestic or international policy and legal developments that may have a significant impact on the Group’s business and finances. The Corporate Governance Department also works with a team of external consultants to keep the relevant departments of the business and management informed and up-to-date on regulatory developments.

Internal Policies

The Company is committed to achieving and maintaining a high standard of corporate governance within the Company and its subsidiaries by embracing the tenets of good governance, including accountability, transparency and sustainability, and by having policies in place to support our commitment. Visit our Corporate Governance page for our governing documents.

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