The Board of Directors (the “Board”) of Best World International Limited (the “Company” or “Best World”) and its subsidiaries (the “Group”) firmly believes that good corporate governance is essential for the long-term sustainability of the Group’s business and performance. The Company is fully committed to maintain its high standard of corporate governance to ensure greater transparency, accountability and protection of shareholders’ interest.
This report, set out in a tabular form, describes the Company’s corporate governance processes and structures that were in place throughout the financial year, with specific reference made to the principles and provisions of the Code of Corporate Governance 2018 (the “2018 Code”) issued on 6 August 2018.
The Board confirms that for the financial year ended 31 December 2023 (“FY2023”), the Company has complied with the core principles of corporate governance laid down by the Code. The Company has also largely complied with the provisions that reinforce the principles of the 2018 Code, where applicable, and has provided appropriate explanations for variations from the provisions of the Code (namely, variations from Provisions 2.2, 2.3, 3.1, 3.2, 8.1, 11.4 and 11.6 as further described below), including the reason for variation and how the practices the Company had adopted are consistent with the intent of the relevant principle of the Code, in this report.