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9080706050403020100Overall Big Cap Mid CapCG CS SCGA overall60.578.467.7 69.583.475.163.181.170.358.777.266.1Breakdown of SCGA Scores in 2022 By Company SizeFigure 2: Breakdown of SCGA Scores in 2023 By Company SizeN.B. The score is out of 100.Areas that companies performed well1. All companies disclosed that they had a whistleblowing policy, and 83.3% of the companies disclosed its anti-corruption programmes and procedures.2. 99.4% of the companies%u2019 boards or audit committee had made a statement in their annual report that the internal controls (including operational, financial compliance and information technology) and risk management systems were adequate.3. 95.1% of the companies disclosed the board appraisal process, and 93.7% of the companies disclosed the board appraisal criteria.4. 93.7% of the companies described the company%u2019s efforts to ensure that its value chain is environmentally friendly or is consistent with promoting sustainable development.5. 93.0% of the companies disclosed the health, safety, and welfare policy for its employees.6. 82.9% of the companies disclosed a board of directors%u2019 diversity policy.Areas that companies need improvement1. 6.3% of the companies disclosed that an external party was used at least periodically to conduct the board and/or individual director appraisal.2. 6.3% of the companies released their notice of AGM (with detailed agenda and explanatory circulars), as announced to the Exchange, at least 28 days before the date of the meeting.3. 23.8% of the companies disclosed that their remuneration committees had considered linking risk management and remuneration and ensuring that the level and structures of remuneration was aligned with the long-term interest and risk policies of the company.4. 31.4% of the companies disclosed a policy on payment of dividends if their company had paid dividends for the financial year.5. 36.7% of the companies disclosed their key risks (including operational risks) and how these risks were assessed and managed.6. 40.1% of the companies disclosed the details of their code of conduct or ethics.Business entities%u2019 corporate governance scores are generally lower than their sustainability scores. In 2023, the SCGA overall score for 464 publicly listed companies was 67.7. When broken down by component scores, the overall corporate governance score was 60.5, and the overall corporate sustainability score was 78.4. Big-cap companies had the highest scores in both corporate governance and corporate sustainability, followed by mid-cap companies and small-cap companies respectively.7225TH ANNUAL REPORT | 2023 - 2024