Page 158 - One Report Thai Final_ENG_2021

Tycoons Worldwide Group (Thailand) Plc.

and executives who have such interests should not participate in the decision making process on
such issues.
3 Role of Stakeholders

The Board of Directors values the right of stakeholders that they provide a mechanism to promote
cooperation between the company and its stakeholders along with customers, employees,
suppliers, shareholders, investors, creditors, the community the company operates in, society, the
government, competitors, external auditors, etc. based on business ethic and fair treatment policy
for each and every stakeholder that all information relevant stakeholders are disclosed in equality
manner.

The company has a policy that through independent directors or audit committee, stakeholders
can communicate with the board any concerns about illegal or unethical practices, incorrect
financial reporting, insufficient internal control, etc. So that the investigation can carried out and
reported to the Board of Directors.

4 Disclosure and Transparency

The Board of Directors ensures that financial information that all information presented in the
financial reports is correct, in accordance with generally accepted accounting principles and
standards, and has been audited by an independent external auditor. The given information and
other important information relevant to the company operation in accurately, sufficiently and
timely manner that reflects the actual status and financial performance of the company that is
audited and complies with the regulations of the Securities and Exchange Commission (SEC)
and the Stock Exchange of Thailand (SET).
The Board of Directors endeavors to comply strictly with the laws and regulations concerning the
disclosure of information. Nonetheless, the Board of Directors shall appoint investor relation
officer to communicate with shareholders and facilitate shareholders and analysts equally and
disclose information on website in both English and Thai.
The Board of Directors must disclose clearly the directors’ remuneration policies that correspond
to the contributions and responsibilities of each person and other companies of similar size in the
same industry. The directors’ remuneration must be approved by shareholders through
shareholders’ meeting.
The Board of Directors contended that the executives` remuneration policy must be fair and
attractive enough for qualified people to take the position and perform at high standard

5 Responsibilities of the Board

5.1 Leadership and vision
The Board of Directors plays a role in setting the company’s goal, mission of the company , and
budget, and moreover oversees the company operation in response to its goal. The Board of
Directors also makes comments on the internal control and audit system along with manage the
risk to maximize the company’s profitability.

5.2 Risk management
The Board of Directors adopted a risk management system for all material and controllable risk
which is related to the company’s business objective, business strategy, finance, production and
operation. Risk management is carried out on the basis of probability that an identified risk may
materialize and the likely impact of it on the business may be presented. In response to that, clear
preventive and mitigation measures must be established and the systems to assess monitor and

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