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Corporate Governance Corporate Governance Policy
The Company stresses the importance of corporate government implementation as a part of its business operation by installation of efficient management system in order to win the shareholders’ trust and maximize benefit for all stakeholders. The Company also focuses on responsibility of the Board, transparency in business operation and disclosure of relevant information.
The Company has formulated the good governance policy, the business code of conduct, and the code of conduct for the Board, executives and employees as guidelines for business operation and practice. These regulations are disclosed and communicated to the Board, executives and employees via orientation, exhibition board, intranet, and the Company’s website. In 2016, the Company highlighted the importance of policy and practices on anti-corruption. Implementation of the policy shall be monitored by the internal audit office and the corporate affairs department in order to report to the Risk Management Committee, the Audit Committee, and the Board of Directors for acknowledgement regularly. For this reason, the Company was rated a five stars or excellent level by the Corporate Governance Report Evaluation (CGR) among Thai listed companies in 2016 and received a full score on the assessment of the Annual General Meeting of Shareholders by Thai Investors Association. Recently, the Company was also certified a membership of Thailand’s Private Sector Collective Action Coalition Against Corruption (CAC).
Corporate Governance Policy covers five parts as follows:
1. Rights of Shareholders
In recognizing the importance on the rights of every shareholders; regardless of major shareholders, minor shareholders, institutional investors, or alienated shareholders, the best practices have been defined below to ensure that the shareholders shall be protected for their basic legitimate rights, such as equitable right on share of profits/ dividends, right to buy-sell-transfer shares, right on benefits of share repurchase, right to obtain clear, accurate, adequate corporate information, and vote on significant issue(s), and so on as follows:
1. According to the law, shareholders shall be provided with prior notice of shareholders’ meeting. The said notice shall contain necessary information about the meeting agenda(s), all supporting documents including facts, reasons, and the Board of Directors’ opinions for each agenda’s item, proxy forms as well as the names of independent directors whom the shareholders can appoint as their proxy. The notice shall contain lists of required documents that must be presented by the shareholders on the meeting date for the purpose of keeping their right to participate in the meeting. Also, the Company’s Articles of Association relating to rights, criteria and procedures of the meeting and voting must be specified in the notice, which the Company shall manage to mail to the shareholders at least 21 days ahead of the meeting date and disseminate both Thai and English versions via corporate website at least 30 days prior to the meeting date.
Annual Report 2016
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