The Board of Directors are aware of rights and roles of inside and outside stakeholders and prescribes the company’s mission to become a credible organization that provides maximum benefits to stakeholders. The company has established the written policy and ethical standards on fair treatment to stakeholders to be complying with by the Board of Directors and employees at all levels.
The Board of Directors recognize the importance of the rights of all groups of relevant stakeholders through the “Core Value” Project, which consists of 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 values of this organization clearly communicate to all employees at all levels for mutual understanding. In addition, the corporate values are using to select new employees and outline new employees to understand the company's business practices.
The Board of Directors and senior executives are confident that the organizational values and culture determined by the needs and directions of the personnel in the organization will lead to practical implementation and embedding good conscience, which is in line with the company's businesses ethics. The company emphasize the transparency and morality of all groups of related parties, which leads to the achievement of the organization's goals. This is one of the mechanisms to protect the rights and interests of all groups of stakeholders at the same time. Therefore, it can be trust that the company pays equal attention to all groups of shareholders, stakeholders, employees, business partners and creditors, customers, competitors, communities, society and the environment. In addition, the following procedures have been defining, which include the rights and benefits that the interested parties should receive as follows:
The company has a policy to protect the rights of shareholders in terms 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 to disclose any significant conditions in the Shareholders Agreement, which has the significant impact to the company, or any other shareholders (if any).
For the measures to approve the connected transaction performed by the Audit Committee in terms of legality, regulatory and reasonable as well as to the maximum benefit of the company prior to proposing to the board of directors for consideration and approval. Directors with related interests will abstain from voting on approving the said transaction, including overseeing connected transactions, the acquisition and disposal of assets to be in strict accordance with the rules set by the Stock Exchange of Thailand.
The company considers employees as one of the factors for the success of the organization and commits to develop various aspects to become a learning organization, strengthen culture and promotes teamwork. The company provides reasonable returns in line with short-terms such as Bonus and long-terms such as Provident Funds according to the company operation in comparison with the same market and industry. At the same time, the company provides legitimate benefits such as social security, compensation fund, first aid, and company welfare such as group life insurance, Accidental insurance and accidental organ loss and health insurance, Provident Fund Savings and Credit Cooperatives, cash for funeral assistance, Shuttle Bus. Etc.
The company also has a system for Occupational Health and Safety at work OHSAS 18001 to look after the health and safety of employees, as well as to focus on the development of employees' ability, 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 of fair treatments to business partners and creditors especially in 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 business ethics. The fair practices include the borrowing of money 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, including capital management, the company maintains a strong debt-to-equity ratio to be able to support future business growth. In the previous year, the company had no disputes with its business partners or creditors.
The company takes good care and responsible to customers by producing quality and standard products, respond to customers' needs very well by focusing on the quality of the product and service with reasonable price, and deliver products 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.
Communities, Society, and Environment
The company pays great attention to environmental protection by being responsible and preventive any potential environmental impacts to communities and society. According to implementation of 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.
The Board of Directors arranges 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 stakeholders can provide clues in the event of a violation of the law or the regulations of a person or an event 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. The company has guidelines to protect the rights of interested parties that are affecting from the result of the violation of the rights of business operations of the company. The consideration for compensation of damages will be not less than the rate required by law. The incidence, grievance or suggestion via 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