Conflict of Interest Practice

The company realizes that any conflict of interest or conflict between interests of the individuals and the company is a managerial problem which leads to fraud or corruption. Therefore, the policy on conflicts of interest is formulated as guidelines for the directors, the management, the employees and the stakeholders to acknowledge and comply with, which supports the company to become a business organization with standard, transparent operation and trust from the society and the stakeholders.

Forms and Prevention of Conflicts of Interest

Any forms or behaviors within the scope of conflicts between personal interest and the company’s interest can be described as follows: -

·       An abuse of entrusted power for interest of one’s own business in a direct manner

·       An abuse of entrusted power for interest of one’s spouse, family member, friend or social group in any forms of relationship

·       An abuse of the company’s assets for personal interest

·       An abuse of the company’s confidential data for personal interest

·       An operation of business, investment or acceptance of any work which competes with the company’s business

In addition, the guidelines on prevention of conflicts of interest are given for the directors, the management and the employees as follows: -

1)    It is prohibited to use one’s entrusted power for personal interest or of those related, in a direct or indirect manner, to gain the company’s interest.

2)    It is prohibited to use a customer or the company’s confidential data for personal interest or for others.

3)    It is prohibited to use the company’s assets for personal interest or for others.

4)    Any personal benefit or investment in conflict with the organization’s interest shall be disclosed.

5)    It is prohibited to operate the business similar and competing with the company, or to be a partner without limit or a director of other limited/listed firms.

6)    The transactions related to any director, management and employee shall be made in accordance with the procedure of approving related transactions.

7)    All the directors, the management and the employees shall report to the company about their personal interest which is relevant to the company’s, so that they shall not be assigned to consider/order on any decision, approval or operation related to their personal interest and the company’s.  

8)    An act of accepting or giving a gift in the following manners is deemed a conflict of interest: -

(1)   An act of accepting a gift from those who are not a relative or family member on non-traditional occasion or with a value exceeding 3,000 baht from those relevant to one’s entrusted power. For accepting a gift to maintain good attachment and relationship, the recipient shall promptly make a conflict-of-interest report, in the form provided in no. 5. Then, the gift will be considered either for one’s or the company’s interest.

(2)   An act of allowing or witnessing any family member accepting a gift on non-traditional occasion or with a value exceeding 3,000 baht from those relevant to one’s entrusted power

(3)   An act of giving a gift on non-traditional occasion or with a value exceeding 3,000 baht to any supervisor or his/her family member

9)    A supervisor shall not appoint or assign those who possibly have any conflict of interest to be on a committee or a team. They shall not be authorized to consider or involve with the process of giving information and opinions or making any order regarding such a process.