Trust is the cornerstone of all business relationships at Asia World Company Limited ("AWC"). Our business is conducted with a clear commitment to integrity and transparency. We should thus exhibit the highest possible ethical and professional standards at all times. This Code of Ethics (the "Code") is in place to formalise this commitment and to provide guidance on the ethical behaviour that we expect of all our employees.

It is important for today's companies to do well not only from a financial perspective, but also on the ethical and environmental front. Our responsibility extends not just to our customers and shareholders but also to all of our other stakeholders, including our employees, business partners, suppliers of goods and services, as well as the communities and the natural environment in which we operate. To support this initiative, we have established a set of core ethical principles, which are outlined in this document. All our employees should demonstrate the spirit of the Code in their everyday behaviour. The Board of Directors will continue to extent its full support in our efforts to build our reputation as a dependable and ethical group.

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