Page 67 - Annual Report 2015 - Mono Technology Public Company Limited

at their own conveniences, such as they may prefer watching online to live broadcast via TV channels.
Mono Group adjusts its business operation and develops content to best suit customers’ behaviors. Platforms were connected and integrated via TV channels, Internet and printed media, with development of application compatible with all devices to meet the needs of audiences regardless of time and place.
5. Risk from piracy
Piracy problem forestalls the growth of media and content business, particularly music and film business. Despite rapid development of new technology, law on preventing copyright has not been improved, with no severe punishment. Then, business was affected by piracy and led to the loss of incomes. The Company has to develop its online services via all platforms in order to provide convenience for customer. Internal units to supervise the piracy was set up. Meanwhile, the Company has joined hands with government sector to prevent and control the piracy.
6. Risk from reliance on expertise and competency of personnel
Most of products of the Company are developed and created by staff who has knowledge, capability and specialized experience. Also, our assets include performance of artists and supporting teams. Therefore, it could be said that Mono Group are people-based business where staff are valuable resources playing a great role in creating works and driving business sustainable growth. Recruiting and training new staff to replace the vacant position may take time and this may affect the image and performance of Mono Group.
As a result, the Company stresses importance on human resources by developing their business knowledge and understanding as well as encouraging their participation in the Company’s operation. The Company also focuses on improving performance appraisal system, proving appropriate remuneration and welfare that are comparable to other companies in the same industry as well as promoting the long-term engagement with
the Company. On the part of artist management, the Company has set a plan in terms of complete content management, such as performance presentation as well as continuously providing jobs and activities that can generate income for artists. Moreover, artists are encouraged to participate in producing their works in order to promote job security, thus allowing them to grow together with the Company.
7. Major shareholder having power in directing management policy
As of December 31, 2015, Mr. Pete Bodharamik held up to 72.24 percent of total paid-up capital, accounting for morethanahalfofpaid-upcapital. Asaresult,thisleadsto his right to control the resolutions of shareholders’ meeting as well as the Company’s policy and management, except for some agendas that require three-fourths of votes in the shareholder’s meeting as prescribed by the law or the Company’s Article of Association. To ensure transparency as well as check and balance system of the Company’s operation, the Company has appointed competent personnel to be the management team. The scope of our operations has been streamlined. The Company has clearly specified the delegation of authority to directors and executives and appointed outsiders to be the Company’s three independent directors and members of the Audit Committee who will be responsible for auditing, balancing the decision making and considering approval of any agenda before proposing the shareholder’smeeting. Inaddition,theCompanyformed the internal audit unit by hiring an experienced company that is directly supervised by the Audit Committee for promoting their independent operation. This unit shall be responsible for monitoring internal control system as specified by the Company in order to ensure transparency and balance of power in our business management.
Annual Report 2015
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