Our Company’s Board of Director comprises of seven distinguished members, with a notable representation of two accomplished women. These directors bring a wealth of expertise and competencies across a spectrum of vital areas essential to our business, including corporate management, social responsibility, strategic planning, compliance, risk management, communication, finance, law, production, marketing, advertising, and media.

In alignment with the relevant laws and regulations, our Board of Directors’ Nomination and Remuneration Policy provides transparent guidelines for the selection of directors and committee members. Appointment of directors necessitates shareholder approval, encompassing decisions related to the remuneration for executive directors and commissions for non-executive directors, as mandated by regulatory standards.

We prioritise transparency by openly disclosing shareholder voting results on remuneration to stock exchanges and on our website. Furthermore, an annual performance evaluation is rigorously conducted for the Board of Directors, Board Committees, and the Chairman, ensuring accountability and effectiveness in governance practices.

The Chairman holds a dual role as the Board’s non-executive director, bringing a wealth of experience and leadership to guide the organisation strategically. With agility in assessment aligned with the prevailing market conditions, the Board determined strategies, policies, and sustainable development goals. It also oversees the Company’s impact on the economy, environment, and society at large. Quarterly business reports submitted by business CEOs or divisional heads ensure that consistent updates are given to the Board of Directors. This helps in equal delegation to each board committee to manage impacts, effectively.

Transparency and effective communication are paramount responsibilities of the Board, ensuring stakeholders are well-informed and engaged. Regularly scheduled board meetings provide a structured platform to address pivotal issues systematically allowing directors to exchange perspectives and deliberate on significant matters.

Comprehensive board reports are meticulously prepared, outlining concerns, their implications, and proposed mitigation strategies. These are distributed to all stakeholders, including shareholders, regulators, and investors. Furthermore, proactive engagement strategies, such as phone conversations and town hall meetings, are employed to directly engage stakeholders, addressing their queries and concerns in a transparent and open manner.

Effective management of conflic of interest is essential in corporate governance. To address this challenge, the Board enforces rigorous policies and protocols for identifying, disclosing, and managing conflict of interest. These measures are facilitated through the implementation of a comprehensive Code of Conduct. This code not only outlines the expected standards of behaviour but also mandates the disclosure of personal interests and potential conflicts. Furthermore, it obligates individuals to abstain from participating in decision-making processes when conflicts arise, ensuring transparency and integrity in corporate decision-making.

At CTIL, we uphold the highest morale and ethical standards across all facets of our operations, encompassing marketing, customer service, product development, and production. We have an unwavering commitment to conduct business in strict adherence to relevant laws, regulations, and industry norms. To ensure ongoing compliance, we maintain stringent internal controls and regularly review and update our policies and procedures.

Throughout the reported fiscal year, CTIL remained in full compliance with all applicable laws. Our overarching goal is to build trust, transparency, and accountability among our stakeholders—customers, employees, shareholders, and the communities in which we operate by steadfastly adhering to legal standards.