Business Ethics
Business Ethics
Significance & Commitment
Business ethics is a material issue interested by all stakeholders. Operating the business without adhering to ethical practices may result in damage to the reputation of the Company and stakeholders’ confidence. Upholding business ethics is therefore an essential part of running the business successfully.
Management Approach
The Company published a Corporate Governance Policy and Code of Conduct that align with international standards such as the ASEAN Corporate Governance Scorecard, the Organization for Economic Co-operation and Development (OECD), and the CG principles of Thai listed companies according to the Securities and Exchange Act, the Securities and Exchange Commission, and the Stock Exchange of Thailand. The CG Policy and Code of Conduct have regularly been reviewed.
The latest revision was announced in 2018. The Company also raises the business ethics awareness through various activities as follows:
The Company developed CG Practice Booklet to install a good understanding about the CG Policy and Code of Conduct to employees. This booklet also includes related policies and information as follows:
• Whistleblower policy
• Anti-corruption policy
• No-gift policy
• Conflict of interests
• Keeping confidential information
• Use of computer and information technology
• Trading partners and/or creditors policy and practices
Year in Review
In 2023, dedicated to upholding the Corporate Governance Policy and Code of Conduct and best corporate governance practices, apart from the legacy practices such as new staff orientation, internal communications, GC-focused articles in an internal magazine, and CG e-learning and e-testing, the Company launched the activities with the concept “CG Safeguards” which is a series of initiatives designed to weave our corporate culture with good governance. One of the key highlights is the CG Storytelling Contest, which is the activity encouraging staff to share compelling stories that highlight the importance of good governance.
Corruption Risk Assessment
The Company undertakes an annual assessment of corruption risks and preventive measures across all businesses globally, including subsidiaries and joint ventures. These findings are reported to the Risk Management Committee. Moreover, the Company maintains open lines of communication with the employees, regularly updating on key policies and practices designed to combat corruption. This includes guidance on the Corporate Governance Policy and the Code of Conduct, and the anti-corruption practices related to accepting and offering of gifts, hospitality, or other similar forms of reward. All these policies are readily accessible to all employees via internal communication channels.
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