The Company has adopted the principles and guidelines of good corporate governance for state enterprise of 2009, according to the State Enterprise Policy Office which provides these guidelines for enterprises to implement and practice seriously in order to establish mechanisms and systems that will achieve better management. This will create transparency and credibility in the organization which will add economic value necessarily for the development of a sustainable nation.
The Company has announced a policy of good governance on August 15, 2015. It recognizes the importance of operating effective business with good corporate governance focusing on creating benefits for stakeholders as a whole. It also recognizes the importance of encouraging executives and staff to perform the work with transparency, fairness and accountability which will result in the sustainable growth and stability which are the frameworks for all aspects of the operations as follows,
- The Board of Directors, the Executives and all the staff are committed to abide by and comply with these 7 Corporate Governance Standards
- Accountability: Accountable for the duty
- Responsibility: A sense of duty, with sufficient capacity and performance
- Equitable: Treatment of stakeholders with good faith and equity
- Value Creation: Creating value added to the Company in both short term and long term by changing or adding any value in order to increase the ability to compete in all aspects
- Ethics: Promoting and supporting the good corporate governance and business ethics
- Participation: Encouraging the public to get involved in aspects that may have an impact on the environment, health, quality of life and well-being of local communities
- The Board of Directors shall be the leader and setting the example in order to demonstrate their commitment to legal compliance and ethical behavior.
- The Executives and staff are encouraged to perform tasks with dedication according to the roles and responsibilities assigned by them, taking into account the interests of the Company as well as being on guard to prevent of any decision or malicious action that could create conflict of interest.
- Encouraging control system, including financial control, operations, operations monitoring, internal auditing and risk management, effectively and comprehensively
- Appointing committees as appropriate for specific purposes concerning the important work that is important to carefully
- Disclosing financial and non-financial information adequately, reliably, equally, and timely to the stakeholders
- Providing a Self-Assessment as framework for the Board of Director to monitor their own performance