Introduction

Misrayon, a leading Egyptian state-owned enterprise (SOE) in the polyester staple fiber industry, is committed to operating with the highest standards of corporate governance. This policy outlines the principles that guide our decision-making processes, ensuring transparency, accountability, and responsible management practices for long-term success.

Core Values

Our governance framework is built upon the following core values:

• Transparency: We believe in open communication and clear disclosure of information to all stakeholders, including the Egyptian government, employees, customers, suppliers, and the public.
• Accountability: We hold ourselves accountable for the performance of the company and the impact of our operations on all stakeholders.
• Compliance: We adhere to all applicable laws, regulations, and ethical business practices in Egypt and internationally.
• Sustainability: We integrate environmental, social, and economic considerations into our decision-making processes to ensure sustainable growth.
• Stakeholder Engagement: We value open communication and collaboration with all stakeholders. We actively seek their input on key decisions and provide them with relevant information about our operations.

Governance Structure

Misrayon’s governance structure is designed to ensure effective oversight, responsible decision-making, and efficient operations. The key components include:

• Board of Directors:
  • Appointed by the Egyptian government, the Board is responsible for setting the strategic direction of the company, overseeing its management, and ensuring alignment with national economic objectives.
  • The Board is composed of a diverse group of individuals with expertise in business, finance, law, and the textile industry.
• Management Team:
  • The Management Team is responsible for the day-to-day operations of the company, implementing the Board’s strategic directives and achieving performance goals.
  • The CEO leads the Management Team and is accountable to the Board for the company’s performance.
• Internal Controls:
  • We maintain a robust system of internal controls to ensure the accuracy of financial reporting, compliance with regulations, and the efficient use of resources.
  • This system includes internal audit functions, risk management practices, and a whistleblowing mechanism for reporting any potential misconduct.

Continuous Improvement

We are committed to continuously improving our governance practices. This policy will be reviewed and updated regularly to reflect best practices in SOE governance, industry standards, and evolving stakeholder expectations.

Conclusion

By adhering to this governance policy, Misrayon strives to:

• Gain and maintain the trust of stakeholders.
• Achieve long-term sustainable growth.
• Contribute positively to the Egyptian economy.
• Be a role model for responsible business practices in the textile industry.