Anti-Corruption
Importance and Mission
The Company recognizes that unethical conduct, violations of business ethics or applicable laws and regulations, and corruption may directly undermine stakeholder confidence as well as the organization's reputation and image. The Company is therefore committed to conducting business transparently, with integrity, and with consideration for the impact on all stakeholder groups. This commitment is guided by the Company's core value of "Integration of Innovation and Integrity" as the foundation for responsible business operations. The Company has also established and adopted a Code of Conduct for directors, executives, and employees to ensure that all personnel are informed, understand, and adhere to shared standards of practice across the organization. The Code emphasizes integrity, diligence, and equal consideration of the best interests of all stakeholder groups, as well as the responsible and appropriate use of Company assets. All in support of building a transparent and trustworthy organizational culture that fosters long-term stakeholder confidence and support.
Goals and Performance
Annual Target for the Year 2025
- Communication of the anti-corruption policy to all directors, executives, and employees 100%
- Complaints related to corruption and violations of business ethics 0 cases
- Complaints related to unfair competition practices 0 cases
Performance
Training and testing on good corporate governance and anti-corruption for all employees through the E-Learning system.
No complaints received relating to corruption and actions violating the Code of Business Conduct for executives and employees.
Political donations in fiscal year 2024 equal to 0 baht (no political support provided).
Supporting the SDGs
Peace, Justice and Strong Institutions
Partnerships for the Goals
Management Approach
The Company has established a Corporate Governance and Anti-Corruption Working Group responsible for monitoring and assessing corruption risks to prevent corrupt practices that may arise from business operations. The Company has also formally adopted an Anti-Corruption Policy and Anti-Corruption Practice Guidelines, requiring all directors, executives, and employees to acknowledge and comply with them. The Company is committed to promoting knowledge and understanding of its policies, business ethics, and anti-corruption practices among directors, executives, employees, and business partners through various activities and communication channels, as follows:
- The gift-giving and receiving policy for festive seasons is communicated to all relevant parties through the Company's public channels.
- Anti-corruption and good corporate governance training is provided to all employees via an E-Learning system, with a minimum passing score of 80 percent. In fiscal year 2025, all employees (100 percent) completed the online assessment and achieved scores of no less than 80 percent.
- Orientation training on business ethics, measures, and best practices in good corporate governance and anti-corruption is provided to all new employees.
- Whistleblowing reports and complaints related to corruption are reviewed through the Company's designated complaint channels. In fiscal year 2025, no anti-corruption complaints or irregularities indicative of potential corruption were identified.
- The Company received its third CAC recertification as a member of the Thai Private Sector Collective Action Against Corruption (CAC) for the period 2025–2027.
| Compliance with Good Corporate Governance and Anti-Corruption Policy | Rate (%) |
|---|---|
| Communication of good corporate governance and anti-corruption policy | 100 |
| Employees acknowledging and accepting the good corporate governance and anti-corruption policy | 100 |
| Employee assessment scores for good corporate governance and anti-corruption training | 100 |
The Company upholds its commitment to conducting business with honesty, fairness, and transparency. A No Gift Policy has been formally established and published on the Company's website, prohibiting the giving and receiving of gifts or benefits of any kind from business partners, contractors, and related parties. Where gifts cannot be refused, they must not take the form of cash or cash equivalents such as gift vouchers, and must not exceed a value of 3,000 baht. Gifts exceeding this value must be reported to the relevant line manager. All gifts are submitted to the office administration team for registration and subsequently distributed by lucky draw as prizes or souvenirs for employees, or donated on behalf of the Company.
In fiscal year 2025, the Company invited executives and employees to participate in the Anti-Corruption Day event organized by the Anti-Corruption Organization of Thailand (ACT), reaffirming its commitment to transparent business operations and comprehensive corruption prevention processes. Various communications were also disseminated to promote the Anti-Corruption Policy and practice guidelines, including seasonal No Gift Policy announcements through public channels. Additionally, anti-corruption awareness activities were incorporated into the Company's annual seminar held on September 20–21, 2025. The Company maintains its membership in the Thai Private Sector Collective Action Against Corruption (CAC).
Conflicts of Interest
The Company has established a conflicts of interest policy within its Good Corporate Governance Principles, along with requirements for disclosure of personal conflicts of interest to prevent situations where personal interests conflict with those of the Company, and to avoid activities that are unlawful or inappropriate. The following measures are in place:
Conflicts of Interest Reporting by Directors, Executives, and Related Persons
The Board of Directors has developed an interest disclosure form for all directors to serve as the basis for monitoring and managing directors' conflicts of interest.
Securities Holdings Change Reporting
Directors, executives, and related persons are required to report changes in securities holdings — including their own, those of their spouses, minor children, and any juristic persons in which they and such persons collectively hold more than 30 percent of total voting rights and represent the largest shareholding — to the Securities and Exchange Commission (SEC), with notification also provided to the Company Secretary for reporting to the Board at the next board meeting.
Directors, executives, department managers, and any units with access to inside information are strictly prohibited from disclosing such information to external parties or stakeholders. The Company Secretary issues formal notifications to directors, executives, and insiders prohibiting securities trading in the Company's shares during the period of 30 days (one month) prior to public disclosure of financial statements and within 24 hours following such disclosure, to prevent insider trading.
Disclosure of Interests at Board Meetings
The Board of Directors has established policies and principles regarding conflicts of interest and requires compliance with the conflicts of interest policy. Any director with a direct or indirect interest in a particular agenda item is required to declare such interest to the meeting and abstain from voting or providing opinions on that item, to prevent conflicts of interest and ensure operational transparency.
Review of Connected Transactions
The Audit Committee reviews and provides opinions on significant connected transactions, particularly those that may involve conflicts of interest, as well as related committee reports, and discloses such transactions to the Stock Exchange of Thailand accurately and within the prescribed timeframes.
Political Neutrality
The Company maintains strict political neutrality and refrains from expressing support for or affiliation with any political party or person with political authority. The Company does not permit any political party to use its resources or premises for political activities. The Company respects employees' political rights, including their personal right to participate in political activities outside of working hours on an appropriate basis, provided such participation is conducted in a personal capacity — not as a representative of the Company — and using solely their own personal resources. The Company has established the following guidelines to prevent corruption in the form of political contributions:
- The Company upholds the democratic system of government with the King as Head of State and maintains a policy of political neutrality.
- Any political support, should it be provided, must not contravene applicable laws and must not be made with any expectation of special treatment in return.
- Employees have the right to participate in political activities within the bounds of applicable laws.
Code of Conduct Compliance Monitoring
The Board of Directors has established a Code of Conduct for directors, executives, and employees, which all personnel are required to acknowledge and adhere to uniformly, in order to establish consistent organizational standards. The Code of Conduct comprises four components:
- Responsibilities of directors, executives, and employees
- Safeguarding of Company assets
- Whistleblowing, complaints, and complainant protection measures
- Resolution of ethical uncertainties
The Code of Conduct, as defined within the Company's Good Corporate Governance Principles, sets out the following responsibilities for directors, executives, and employees:
| Roles and Responsibilities of Directors and Executives | Roles and Responsibilities of Employees |
|---|---|
|
|
In fiscal year 2025, the Company implemented measures to ensure compliance with its established Code of Conduct through two approaches: building knowledge and understanding of the Code of conduct, and monitoring compliance.
| Code of Conduct Compliance Monitoring Method | Performance Results 2025 |
|---|---|
| 1. Enforcing Code of Conduct compliance |
|
| 2. Building employee knowledge and understanding of the Code of Conduct |
|
Legal and Regulatory Compliance
Compliance with applicable laws and regulations enables the Company to conduct business transparently, maintain credibility, and sustain stakeholder confidence. Closely monitoring changes in laws and regulations relevant to the Company's business and related activities also enables the Company to prepare and respond to new legislation and developments in a timely manner.
Target 2025
Violations of economic, social, and environmental laws
0 Cases
The Company places strong emphasis on compliance with all laws, regulations, and rules applicable to its business operations to prevent adverse impacts, and ensures alignment with legislation promulgated in the Royal Gazette and other relevant requirements. Laws, regulations, and rules are reviewed in accordance with procedures established in the Company's Environmental Procedure (EP) on Legal and Other Requirements and Compliance Evaluation. Relevant legal and regulatory information is collected and maintained in a register, along with compliance assessments of the Company's operations. Compliance monitoring is conducted on a regular six-monthly basis in accordance with good corporate governance principles. In fiscal year 2025, the Company operated in full compliance with all applicable laws, regulations, and rules, with no violations of economic, social, or environmental requirements.
Measures for Reviewing Code of Conduct Compliance Processes
The Company has established a system for monitoring and evaluating Code of Conduct compliance, with the internal audit unit responsible for monitoring and assessing compliance as part of the annual audit plan and operational processes. The overall compliance monitoring and evaluation system comprises:
- Monitoring and evaluation by the internal audit unit and/or the Corporate Governance Working Group
- Self-assessment by executives and employees
- Assessment by independent external experts
In cases where non-compliance with Code of Conduct requirements is identified, the following corrective measures are applied:
- Processes enabling timely detection of violations
- Processes enabling appropriate disciplinary action or remediation within a reasonable timeframe
- Timely and appropriate correction of conduct that violates integrity and Code of Conduct standards
These guidelines and conditions are documented in the Company's work regulations under the "Good Corporate Governance" principles, specifically under the Code of Conduct for Directors, Executives, and Employees, which covers duties and responsibilities and business ethics. Executives and employees at the supervisory level are designated to monitor compliance, and any non-compliance identified must be reported immediately to the relevant line manager.
Whistleblowing Mechanism and Management
The Company provides secure whistleblowing and complaint channels for employees and all stakeholders to report conduct or actions that may constitute corruption, or any violations of applicable laws, regulations, good corporate governance principles, the Code of Conduct, or the anti-corruption policy. Confidentiality protection measures and complainant protection safeguards are in place, with access to complaint information restricted solely to personnel responsible for investigating the reported matters. All complaints received are processed through the procedures defined in the Company's Good Corporate Governance Principles.
Complaint Channels
The Company provides stakeholders with the opportunity to submit whistleblowing reports, complaints, or grievances regarding potential corruption, legal violations, violations of the Company's Code of Conduct, and human rights concerns through the Company's designated channels, or directly to the following designated responsible officers: the Internal Audit Manager, the Human Resources Manager, the Company Secretary, and the Accounting Manager. The Company has established clear complaint handling procedures, as follows:
Whistleblowing and Complaint Channels
Verbal or Written Complaints to the Receivers
- Internal Audit Department Manager
- Human Resources Department Manager
- Chief Financial Officer
- Company Secretary
Post
P.O. Box 3, SathuPradit Postal Branch, Bangkok 10124
Cal
Suggestion and Feedback Box
Whistleblower Protection Measures
The Company has established measures to protect whistleblowers and complainants reporting corruption in its Anti-Corruption Policy and Practice Guidelines, with the following provisions:
- The Company protects the rights of complainants and informants by keeping their names, addresses, and any identifying information strictly confidential, with access limited solely to personnel responsible for investigating the complaint, in accordance with the complainant protection measures set out in the Code of Conduct for Directors, Executives, and Employees
- All related information is kept confidential with due regard for complainant safety. Complainants who are employees, as well as those who cooperate in fact-finding investigations, are protected from unfair treatment arising from the act of filing a complaint including workplace interference, reassignment, or termination
Performance Results
| Corruption Incidents | Unit | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Complaints related to corruption and violations of business ethics by executives and employees | Cases | 0 | 0 | 0 |
| Number of confirmed corruption incidents | Cases | 0 | 0 | 0 |
| Complaints related to unfair competition practices | Cases | 0 | 0 | 0 |
| Complaints related to political contribution practices | Cases | 0 | 0 | 0 |
