The Board of Directors recognizes the rights and roles of stakeholders inside and outside the organization and establishes the company’s mission as a credible organization and provides the highest benefits for stakeholders by establishing policies and ethical standards to treat stakeholders and legal rights of stakeholders equally in writing to ensure that the board of directors and employees at all levels comply with the rules and practices of the stakeholders.
The Board of Directors recognize the importance of the rights of all relevant stakeholders through the “Core Value” Projects, which consists of four components: TQIC (Teamwork, Quality, Integrity and Customer Focus). Based on the collaboration of executives and employees at all levels through the processing of opinions, inventing from the identity of the people within the organization for practical implementation. The corporate values have been clearly communicated to all employees at all levels for mutual understanding. In addition, the corporate values have been applied to select new employees and outline new employees to understand the company’s business practices.
The Board of Directors and senior executives believe the corporate values that are consistent with the organizational culture determined by the needs and direction of the personnel in the organization will lead to practical implementation and embedding good conscience in line with the company’s businesses ethic and code of conduct. The company emphasize the transparency and morality of stakeholders involved, which leads to the achievement of the organization’s goals and this is one of the mechanisms to protect the rights and interests of all stakeholders at the same time. Therefore, it can be trust that the company places equal importance on all stakeholders, stakeholders, employees, business partners and creditors, customers, competitors, communities, society and the environment. In addition, the company has established a comprehensive approach to rights and interests that stakeholders should receive as follows:
The company has a policy to maintain the rights of shareholders in the matter of receiving information, rights to vote, rights to receive fair treatment that the shareholders should have including the continuous satisfactorily operating results of the company in order to add value to shareholders without complicate and cross shareholding. The company also has policy for all of the shareholders to communicate freely among themselves and do not neglect the disclosure any significant conditions in the Shareholders Agreement that have a significant impact on the company, or any other shareholders (if any).
For the measures to approve the connected transaction. The Audit Committee considers the legality and regulations in accordance with the company’s reasonableness and best interests before presenting it to the Board of Directors for approval. The Directors with related interests will abstain from voting on approving such transaction, including overseeing connected transactions and the acquisition and disposition of assets in strict accordance with the rules prescribed by the Stock Exchange of Thailand.
The company considers employees to be one of the factors for the success of the organization Therefore, we are committed to developing various factors to become a learning organization, strengthening the culture, promoting teamwork, providing fair returns and in line with the company’s performance in the short term, such as bonuses, and long-term provident fund. Comparable to the same market and industry by providing legal benefits such as Social Security, compensation funds, first aid, including the company’s welfare such as group life insurance, accident and organ loss insurance, and provident fund, Cooperative Savings, Funeral Fund, Staff shuttle service, etc.
The company also provides a system for Occupational Health and Safety at work OHSAS 18001 to ensure the health and safety of employees, as well as to focus on the development of employees’ capabilities, knowledge transfer, welcoming employees’ opinions and suggestions by means of establishing core values, and adhere to integrity as part of the corporate culture.
Business Partners and Creditors
The company has a policy to treat business partners and creditors fairly especially in regard to the fair selection of trade partners, Suppliers evaluation, and Price comparison process etc. in compliance with legal, strictly honoring trade terms as mutually agreed upon, in compliance with the law, commercial conditions and good business ethics. The good and fair practices include loans from creditors and repayments of debts, modification of terms and conditions of guarantees for the company to be able to operate business flexibly. With less collateral, as well as capital management, the company maintains a strong debt-to-equity ratio structure to be able to support future business expansion. In the previous year, the company does not have any disputes from any partners or creditors
The company takes good care and takes responsibility for our customers by producing quality products and standards and able to meet the needs of customers’ needs with focus on the product quality, service with reasonable price, and delivery on time. If there are obstacles preventing the product from being delivering as required, the company notifies customers in advance in order to find solutions.
The company has complied with the framework of fair competitions rules to maintain the norms of competition practices., whereas, in the previous year, the company has no disputes with any concerning commercial competitors.
Communities, Society, and Environment
The company pays great attention to environmental preservation and care by being responsible and preventive any potential environmental impacts to communities and society. In accordance with the aforementioned policy, the company has been accrediting with ISO 14001 Standard environmental certification in 2006 and the TIS/OHSAS 18001 Occupational Health and Safety Management standard management from the Management system Certificate Institution (Thailand) (MASCI) on 11 September 2009. In 2019, the company received the Green Star white flag award, Environmental Governance Award 2018, which is an audit of environmental performance and safety in the workplace to assess the project performance, which Tirathai is able to pass the evaluation criteria at the “Excellent” level for the 4th time at BITEC Exhibition and Convention Center Bangna on March 5, 2018.
In 2017, 2019 and 2020, the company received the Green Industry Award Level 4 (Green Culture) from the Department of Industrial Works, Ministry of Industry.
Whistleblower Policy or complaints
The Board of Directors has prepared a notification of complaints, incidence or suggestions from interested parties affected by the operations of the company, both through electronic mail and letters. The Shareholders and may provide a whistleblowing in the event of any wrongdoing or regulation of the person or events that may cause damage to the company to the attention of the Board of Directors. The company keeps such information confidential in order to prevent the whistleblower to suffer from any trouble. In addition, the company also has guidelines to protect the rights stakeholders who have been damaged by the violation of the company’s business by considering compensation not less than the rate specified by law and can submit clues or complaints in the following channels:
1. Electronic Mail:
Chairman of the Audit Committee: firstname.lastname@example.org
Chairman of the Executive Board: email@example.com
Executive Committee: firstname.lastname@example.org
Executive Committee: email@example.com
Human Resource Administrative Office Manager: firstname.lastname@example.org
2. Red Box Clue Notifying locate at the walkway up the office building, Human Resource Division
3. Post Mail Attention to: Chairman of the Audit Committee or Company Secretary Office
Tirathai Public Company Limited
516/1 Moo 4 Bangpoo Industrial Estate Soi 8 D
Sukhumvit Road, T. Praksa, A. Muang