<b>Governance</b>

Governance

NWS Holdings firmly believes that sound and effective corporate practices are fundamental to the smooth, effective and transparent operation of a company. They are essential to a company's ability to attract investment, protect the rights of its shareholders and stakeholders, and enhance shareholder value. Comprehensive corporate governance practices are ingrained in our management structure and value system, ensuring the Group operates according to the highest ethical standards and develops in the most sustainable manner possible.

Structure and Practices

The Board is the highest governance body of the Group, responsible for enhancing long-term shareholder value, directing growth strategies, supervising executive management and ensuring corporate governance policies and practices are implemented within the Group.

The Group's day-to-day operation is delegated to the Executive Committee. It has primary responsibility for delivering business growth, monitoring business performance and advising the Board. It is accountable for the Group's long-term development as well as its performance as measured against the corporate goals and targets established by the Board.

In addition to the Executive Committee, the Board has formed five other board committees to oversee specific issues, led by Board members with relevant expertise. These committees are the Audit Committee, the Nomination Committee, the Remuneration Committee, the Sustainability Committee and the Corporate Governance Committee. The Board and these committees collectively form the backbone of our corporate governance structure to drive and achieve best practices in corporate governance. Find out more.

Risk Management and Internal Control

Risk management and internal control are essential parts of corporate governance. The Board is responsible for ensuring that appropriate and effective risk management and internal control systems are established and maintained, which enable the Group to respond timely and appropriately to significant business, operational, financial, compliance and other risks.

To ensure the effectiveness and efficiency of our operations, the reliability of financial reporting and compliance with applicable laws and regulations, the Group's integrated framework of risk management and internal control references to the "Internal Control – Integrated Framework" issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO), and also aligns with the principles outlined in the "Internal Control and Risk Management – A Basic Framework" issued by the Hong Kong Institute of Certified Public Accountants. Find out more.

Policies and Guidelines

The Group is committed to upholding high standards of business ethics and integrity. We have a well-established framework of policies and guidelines, supported by regular reviews by the Board and the relevant board committees, staff training and good communication channels between our employees and management to ensure compliance of those policies across the Group.

Our "Corporate Policy on Staff Responsibility" and "Human Rights Policy" provide guidelines and instructions on best management and personal integrity. These policies ensure our business is conducted in accordance with applicable laws and regulations, including those on health and safety at work and environment, equal opportunities, social responsibilities, safeguard of company information and assets, avoidance of conflict of interest, and work against corruption in all forms, including extortion, fraud and bribery. The "Whistleblowing Policy" is established for staff members to raise concerns, in strict confidence, about possible improprieties in any matters related to the Group.

Data Privacy and Protection

We are committed to protect the Group's information, as well as its staff and customers' personal data through well-established policies and protocols. The "IT Policy and Procedure" is in place to safeguard the proper use of IT resources and oversees data confidentiality and protection. The Group complies with data privacy laws and regulations while using the most relevant and timely systems for data collection to optimize our operations. Employees are also required to strictly comply with the Personal Data (Privacy) Ordinance when handling the personal data of our staff or customers.