- To realize the achievement of corporate sustainability through governance based upon the principles of transparency, accountability, responsibility, independence and fairness.
- To realize the empowerment of the function and independence of each corporate body: the general shareholder’s meeting, the Board of Directors and the executive management.
- To realize a condition in which all corporate bodies make their decisions and implement them on the basis of high moral values and adherence to existing laws and regulations.
Corporate Governance Goals
- To improve our Company’s performance through the creation of decision-making processes, improving operational efficiency and improving services to stakeholders.
- To improve corporate value by improving financial performance and minimizing investment decision risks that contains conflicts of interest.
- To improve investor trust.
- To achieve stakeholder satisfaction resulting from corporate values and company dividends.
Corporate Governance Roadmap & Implementation
As Myanmar Thilawa SEZ Holdings Public Co., Ltd. (MTSH) is a publicly listed company, it is committed to build good corporate governance on the foundations of accountability, fairness and transparency. To be a sustainable and responsible business. MTSH has made a great effort to promote the long-term benefits for shareholders and have public trust by shaping up well in our management and performance of our company. Accordingly, the board of directors and key management set standard of operating procedure (SOP) and the norms of integrity and ethical behavior, which will be applied in the respective tasks of employees and officers. In addition, the Board of Directors has fully responsible to serve as a prudent fiduciary for shareholders through the best practice in good corporate governance.
In Annual General meeting, the shareholders elect and designate the Board members year on year with the aim of overseeing their interest in the long-term success of the business. Afterward, the Board serves as the ultimate decision-making body of the company, with the exception of the matters that is concerned with Shareholders' decision. The Board chooses the most suitable members of senior management who will operate and implement the business plans according to the Board of Directors' guidelines.
The Board of Directors has established Corporate Governance Guidelines which provide a framework for the effective governance of the Company. The guidelines address matters such as the Board's mission, Directors’ responsibilities, Directors’ qualifications, Board Committee structure, Managing Director performance evaluation and management succession.
As one more significant step towards a sustainable and responsible business, MTSH has participated into the United Nations Global Compact and has become one of the members of it since June, 2015. Since then, MTSH has complied with ten principles in the four main areas of Human Rights, Labor Rights, Environmental Rights and Anti-Corruption guided by the United Nations Global Compact (UNGC), and then those principles are well integrated into our business strategy, culture and daily operations.
In line with our aim, “to deliver a long-term and sustainable benefit to all shareholders, employees and community”, the Board frequently reviews and updates the related guidelines in order to achieve strong corporate governance of the Company.
We have benchmarked our score against average score of listed companies by using ASEAN Corporate Governance Scorecard, private and public companies and ASEAN average available from an assessment jointly published by International Finance Corporation (IFC), Securities and Exchange Commission of Myanmar (SECM), Directorate of Investment and Company Administration (DICA) and Yangon Stock Exchange (YSX). Even though our score fare better than Myanmar average, we acknowledge there are potentials to improve our corporate governance practices to catch up with ASEAN average.