For a Growing Business
The Company intends to promote operating business with efficiency and focuses on developing business to grow steadily and sustainably amid challenges from both internal and external factors whether it is innovative or technological changes, the shift in global economic power, tax policy, and resources security to natural disasters that may impact business operation. Operating business with transparency, ethics, and good corporate governance. Able to manage risks effectively.
Good Corporate Governance
The Company focuses on operating business under good corporate governance principles with fairness, transparency, accountability, and having responsibility towards stakeholders according to corporate governance structure. The Board of Directors is responsible for overseeing interests of the Company, shareholders, and all group of stakeholders. In addition, the Company has established “Good Corporate Governance policy”.
Key Performance in 2023
Anti-Corruption
The Company adheres to operate business with transparency, ethical, and under good corporate governance framework, including having social responsibility and towards all group of stakeholders, and countering against all forms of corruption. The Company has established Anti-Corruption and Whistle Blowing policy to serve as guideline for directors, executives, employees, and all group of stakeholders not to get involved in corruption, either directly or indirectly. Furthermore, the Company has been certified to be a member of Thai Private Sector Collective Action Against Corruption : CAC)
Key Performance in 2023
Number of employees who accepted anti-corruption policy
Number of new employees who took orientation course on anti-corruption
of fraud and corruption complaints Free from complaints for the sixth consecutive years
Risk and Crisis Management
Risk and crisis management is a key point that the Company places importance to, therefore, the Company has established Enterprise Risk Management policy to be a systematic approach to risk management under good corporate governance and sustainable development principles to support operational efficiency and achieve goals sustainably, as well as, enhancing ability to adapt under uncertain circumstances of changes in economic, society and environment, crisis such as value chain, climate change failure, epidemic, cyber threats, political tension, and other risks that may occur and impact business operation, either positively or negatively. The Company has assessed and reviewed its risk issues continuously and has a systematic risk management process that is in accordance with the standards of Committee of Sponsoring Organizations of the Treadway Commission (COSO) framework for directors, executives, and employees at all level to be able to manage risks efficiently.
Supply Chain Management
The Company commits to sustainable long-term value creation, has developed a Supplier Code of Conduct for its suppliers, and conducts a risk-based sustainability assessment for all suppliers, covering ESG issues. The purpose is to encourage suppliers to conduct business ethically, respect individual rights and liberties, and treat employees fairly according to human rights principles, with social and environmental responsibility. And improve efficiency in supply chain management to be able to support the stable growth of the business. The following is a detail of related topics:
Let’s care Business
Collaboratively Developing Comprehensive Business Practices to Responsively Serve Stakeholders
Good Corporate Governance
- Accountability for performance outcomes, with the ability to articulate and explain actions taken
- Full awareness of responsibilities and effectiveness in carrying them out.
- Respect for rights and fair treatment of stakeholders, including providing opportunities for participation fairly
- Transparency in disclosure and conducting operations with scrutiny
- Adding value to the business in both short and long term through development, improvement, and enhancing competitiveness
- Conducting business with integrity and ethics
Business Ethics
- Opposition to corruption and collusion
- Prevention of conflicts of interest and misuse of internal information for personal gain
- Whistleblowing
- Non-discriminatory practices
- Maintenance of confidentiality
- Resistance to unfair competition
- Consideration for safety, occupational health, and environmental factors in operations
- Protection of data security and information systems
Let’s care People
Collaboratively Developing Human Capital to Excellence as Individuals, Teams, and Organizations
Labor and Human Rights Practices
- Human rights
- Fair employment practices
- Maintenance and development of employee skills and capabilities
Safety, Occupational Health, and Environmental
- Workplace safety and environmental conditions
- Personal protective equipment
- Emergency preparedness and response
Let’s care Social
Collaborating to Conduct Business with Social Responsibility, Environmental Friendliness, and Sustainable Growth
Community and Social Development Involvement
- Implementation of projects for community and social development
- Foster collaboration to develop innovative initiatives for social and environmental Improvement
Conducting Environmentally Friendly Business Operations
- Energy management
- Water management
- Waste management from production processes
- Climate change impacts management
Key Performance in 2023
100% of the new suppliers
who have been assessed and selected to cover sustainability risks
Tax Management
The Company operates business and manages tax with transparency and is aware of the duty and responsibility of tax operation in order to build trust among stakeholders in all sectors. At present, the Company has improved its measures and procedures to be up-to-date, globally accepted, and in the same direction for accounting personnel and related employees to have knowledge and understanding of tax requirements, guidelines for preparation of financial reports, and tax planning. This is to ensure that they will be able to perform and operate correctly in accordance with the organization’s activities and law, which will help reducing the risk of additional fines, error in tax calculations, and careful planning to prevent tax problems that may occur in the future. In addition, the Company has organized additional training courses every year for related employees to know tax practices and able to apply it with business effectively.
