Corporate Governance
The Company realize the importance of good corporate governance as it is essential to promote the company’s operations to be efficient and have sustainable growth
in which will lead to the greatest benefit to all Stakeholders including Employees, Investors, Shareholders and Other Stakeholders. Therefore, the Board of Directors has agreed to establish a policy on better corporate governance, covering important principles from the structure, roles, duties and responsibilities of the Board of Directors to the principles of transparent, clear and auditable administration of the Management as a guideline for management of its organization to ensure that any operations of the Company are fair and take into account the greatest benefit of all Shareholders and Stakeholders. In addition, appropriate management of risks that may affect the company’s operations in accordance with laws and regulations will help increase the stability and sustainability of the Company.
The Company adheres to conducting business under good corporate governance and adheres to ethics along with operating under the policy of sustainable management and policy of social and environmental responsibility with a true sense of responsibility towards society. The Company has established good practices in accordance with the criteria of the Stock Exchange of Thailand. However, in conducting business, the Company has considered the possible impacts by taking into account Stakeholders both inside and outside the organization including Shareholders, Employees, Customers, Communities and Societies at large. It focuses on engaging all groups of Stakeholders both inside and outside the organization, especially Stakeholders around the company's operating areas for sustainable coexistence. And to create sustainability in all sectors of society, both in terms of natural resource and environmental conservation including the creation of public benefits for societies as a whole, the Board of Directors has resolved to appoint the Corporate Social Responsibility and Sustainable Development Committee with the following duties and responsibilities:
Duties and Responsibilities
Anti-corruption
The Company recognizes the importance of combating corruption and is committed to conducting business with transparency and adhering to ethical principles. In 2024, the Company was certified as a member of the Thai Private Sector Collective Action Against Corruption (CAC) at the 2-star level as well as having reviewed its anti-corruption and corruption policy, emphasizing the importance of transparent operations which included the establishment of clear operational processes, monitoring and reviewing complaint measures, providing channels for reporting clues and measures for protecting and defending those who reported information or clues of wrongdoing or corruption
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Performance Results
Risk and Emerging Risk Management
The Board of Directors and the Management attach importance to risk management as part of good corporate governance. They have established policies that cover the entire organization from identifying, assessing, controlling and monitoring risks to preparing for new risks that may occur in the future in which may significantly affect the current and future business operations. The Company focuses on creating standards and organizational culture that promote effective risk management in order to reduce opportunities and damages that may occur by considering risks and opportunities that may affect business operations in five key areas, namely:
- strategic risk
- operation risk
- financial risk
- compliance risk
- ESG risk
Risk Management Policy
Crisis Management
The Company has a process for managing uncertainty events that may affect the achievement of the organization's objectives and goals, starting from the assessment of possible risks, determining measures or guidelines for risk control and monitoring results to reduce the risk opportunities or reduce the impact that may occur to a level that the organization can accept. This process also covers crisis and emergency management as well as creating stability in business continuity. The Company is committed to effectively controlling emergency situations by training and preparing Employees at all levels including determining guidelines and management plans that help the business continue to operate during crises. This is to ensure that the organization can cope with various events and restore operations quickly to reduce the potential impact and allow the business to return to normal as soon as possible.
In 2024, the Company has prepared a Business Continuity Plan (BCP) to support potential incidents that may affect the business operations. The plan is reviewed and rehearsed at least once a year to ensure that all Employees are ready to handle emergencies and can continue to operate without interruption.
Cybersecurity and Personal Data Protection
The Company is committed to protecting data and preventing cyberattacks including data leaks with practices that comply with relevant regulations, rules and laws to ensure that the organization can conduct business safely, the Company has assigned the Information Technology Department to be responsible for overseeing cybersecurity by implementing the IT Security Policy including the preparation of a comprehensive management plan such as an Emergency IT System Recovery Plan, an IT Risk Management Plan and an Information System Security Manual. There are processes and practices designed to protect networks, devices, programs and data from being attacked, hacked, destroyed, or accessed by others without authorization to ensure that all data is efficiently managed and safe from various threats.
To comply with the Personal Data Protection Act (PDPA) which came into effect on 1 June 2022. In 2024, the Company had implemented a PDPA project by hiring Experienced Consultants to manage personal data of Stakeholders including Employees, Shareholders, Customers and Business Partners to comply with the standards of the Act as well as having established a Working Group on personal data protection.
Personal Data Protection Policy
Performance Results
Supply Chain Management
Supply chain management is essential to operate the business efficiently in terms of cost, quality of products and services, creating a competitive advantage including supporting the organization to be able to deliver the value according to the intent. The Company places importance to supply chain management by developing procurement policies, ethics that go hand in hand with business operations, social responsibility policies, good governance in business operations and guidelines for selecting business partners of the Company by taking into account quality, price, quantity, services and speed of response, efficiency as well as responsibility of society, environment and corporate governance. There is also a procurement process that places importance on transparency, fairness, and can be verified and corresponding with the rules, regulations, and relevant laws
| Sustainable Supply Chain Management Process | |
|---|---|
| Step 1 | To demonstrate Commitment |
| Step 2 | To assess scope |
| Step 3 | To identify partners |
| Step 4 | To take action |
| Step 5 | To measure and monitor |
| Step 6 | To disclose information |
Supplier Sustainability Code of Conduct
Performance Results
| Details | Target | Performance | ||
|---|---|---|---|---|
| 2020 | 2021 | 2022 | ||
| Communicate the Sustainable Business Practices for Business Partners to the Company's Suppliers | 100 % | 100 | 100 | 100 |
| Suppliers are aware of and agree to comply with the Sustainable Business Practices for the Company's Suppliers | 100 % | 95 | 96 | 100 |
| The Company's Critical Tier 1 Suppliers in Thailand must undergo sustainability assessments | 100 % | N/A | N/A | 100 |
Brand and Trademark Management
The Company realizes that trust and confidence in brands and trademarks are important for Consumers and Customers to decide to buy the company's products. Therefore, the Company has a brand and trademark management approach based on sustainable development, creating participation and responding to the needs of all Stakeholders in a balanced manner to create confidence that the company's products are products from Thai companies with quality and safety comparable to international standards at prices accessible to all Consumer Groups or Customers. The company's strengths that are different from foreign brands are the flexibility in production according to minimum order quantity (MOQ) including having a business in a subsidiary company that covers production from upstream to downstream, so it can manage both raw materials and the effective delivery time of the products with the above advantages, the Company can promote the development of new product innovations for Customers such as syrup product groups, drink powder product groups, seasoning powder product groups, seasoning sauce product groups and others.
In addition, the Company also has OEM products to the modern trade market and online channels to allow Customers and Consumers to have more access to the company's products where is another option for choosing to eat quality food.
Quality products or services
The Company is committed to providing services by producing quality products that meet standards, adhering to honesty, fairness, taking care of responsibility and providing quality services based on professional ethics, international standard requirements and relevant laws including emphasizing convenience in receiving services and confidence in working together and building confidence in using products and services from the Company. Therefore, the following guidelines are in place:
การสร้างความพึงพอใจของลูกค้าที่มีต่อสินค้าและบริการของบริษัทฯ
- The Company offers quality products that are produced under international food safety standards.
- The Company develops innovative products that focus on benefits in various aspects to meet consumer needs.
- Delivering quality products on time.
- Providing safety systems and equipment according to requirements and laws for Employees involved in delivery in accordance with good occupational health principles to prevent potential dangers from work and affecting life, property, the environment and the reputation of Customers.
- The Company provides services at reasonable prices, collecting payment for services in accordance with correctness and reality.
- The Company adheres to caring and being responsible for Customers in terms of quality of service, food safety in providing services both before and after sales.
- The Company is committed to creating satisfaction and confidence for Customers to receive good quality services under an international food safety control system including raising standards to a higher level by surveying customer satisfaction and needs including regular acknowledgement of problems and complaints from Customers.
