IOD Policy
The Company and its subsidiaries place importance on conducting business for sustainable growth in accordance with good corporate governance principles under the management framework of ethics and transparency. which can be inspected, especially processes related to or at risk of corruption within the company Including all forms of corruption, whether direct or indirect, the Company has therefore established policies, guidelines, definitions, and responsibilities for combating corruption as follows:
- Directors, executives and employees of the Company and its subsidiaries are prohibited from engaging in, accepting or supporting any form of corruption, whether directly or indirectly. This covers all subsidiary companies and is ready to support or promote stakeholders, customers, business partners, contractors or subcontractors. They have the same practices as the Company and require a review of the implementation. In accordance with this anti-corruption policy consistently including reviewing the implementation guidelines to be consistent with the policy, including regulations, rules, announcements, laws and business changes
- Anti-corruption measures It is part of business operations and includes the responsibility of the Board of Directors, executives, supervisors, all employees at all levels, business partners, contractors or subcontractors , and customers to participate in expressing opinions on practices in order for the implementation of anti-corruption activities to achieve the specified policy.
- The Company shall regularly conduct risk assessments on activities related to or at risk of fraud and corruption and maintain appropriate internal controls. To prevent employees from engaging in inappropriate behavior, especially in sales, marketing, and purchasing, manuals and guidelines have been prepared for those involved.
- The Company does not commit or support bribery in any form in any activity under its supervision. This includes controlling charitable donations, donations to political parties, giving business gifts, and supporting various activities. It is transparent and not intended to induce government or private officials to take inappropriate actions.
- regularly provides anti-fraud and corruption training to the Board of Directors, executives and employees . To promote honesty, integrity and responsibility in performing duties and to convey the company’s commitment. Including support and invitation for business partners to join the declaration of intent to become members of the Thai private sector’s coalition of action against corruption.
- The Company provides a transparent, accurate, and auditable financial and tax reporting mechanism.
- The Company has no policy of paying facilitation payments to government or private officials under any circumstances whatsoever, and this is considered a prohibited matter by the Company.
- The Company has no policy of hiring any person who is or was a government official, politician, or consultant to a government agency, whether directly or indirectly, in a manner that would create a conflict of interest or abuse of power, or with the intent to gain an unfair business advantage, or to provide an improper business advantage to the Company.
- The Company promotes various communication channels to enable employees and stakeholders to report suspicious information with confidence that they will be protected from unfair punishment, transfer, or harassment. This includes appointing individuals to investigate and follow up on all reported information.
- The Company has specified definitions, meanings, responsibilities, channels for reporting clues or complaints, and penalties to ensure that the Board of Directors, executives, all employees at all levels, business partners, contractors or subcontractors , and customers have a correct understanding of the procedures, as specified in the appendix to the announcement.
The company therefore announces this to provide the company’s personnel and all stakeholders with a framework for their work. Therefore, we would like to announce this to all.
Definition meaning
- “Company” means Premier Products Public Company Limited and its subsidiaries, including any person or group of persons whom the Company has designated to have the authority to act on behalf of the Company.
- Supervisor means a person appointed and assigned by the Company to issue orders to perform work in accordance with the Company’s policies, including controlling and supervising employees to maintain good discipline and comply with the Company’s work regulations, rules, announcements, orders, or work standards, in accordance with the level of authority.
- Executives mean executive-level employees who are appointed to oversee operations in accordance with policy.
- Director means a person appointed to the Board of Directors to oversee the operations of the Company.
- Employee means a person whom the Company agrees to employ with a written employment contract and receives wages from the Company at all levels / positions .
- Supplier and Subcontractor means a natural person or juristic person who has agreed to provide goods or services or undertake to do or carry out some or all of the work, as the case may be, for the Company to be assembled or used in the production of the Company’s goods or services.
- Customer means a natural person or juristic person who purchases products or receives services from the Company.
- Corruption means any action to seek undue benefits for oneself or others, including actions such as:
- Embezzlement : The act of taking property belonging to another person or owned by another person and then fraudulently seizing that property for oneself or a third person.
- Fraud : Deceive another person by making a false statement or concealing facts that should have been honestly disclosed, in order to obtain property or cause the deceived person or a third party to revoke or destroy any title deed.
- Corruption : Bribery in any form by offering, promising, promising, demanding or accepting money, property or any other benefit, or providing any other benefit, directly or indirectly, to cause such person to act or refrain from acting in order to obtain or maintain business or to obtain any other improper business benefit, except in cases where laws, regulations, announcements, rules, local customs or trade traditions permit such action.
- Convenience fee This refers to a small amount of money paid to a government official informally, and is intended to provide assurance that the official will carry out a process or to encourage faster processing. The process is based on the official’s discretion and is a legitimate act of that government official, and is a legal right that a legal entity is entitled to, such as applying for a license, a certificate, or receiving a public service.
- Political assistance means providing financial support, goods, and/or participation in activities, as well as encouraging employees to participate in political activities on behalf of the Company in order to gain business advantages. This does not include employees participating in activities based on personal freedoms. The Company has a policy of conducting business impartially, not favoring politics or professional politicians affiliated with any political party, and will not use funds or other forms of assistance as political assistance for business benefits.
- Charitable donations refer to money spent on activities that are not intended to generate business returns. The company has established a review and control process for donations. It must be proven that the charitable activity truly exists, that the project or activity is being implemented to support its success and truly benefit society. Furthermore, it must be proven that the charitable donation does not involve any reciprocal benefits for any individual or organization, except for the recognition of recognition as is customary practice, such as the display of a logo or announcement of names at the event location or in public relations media.
- Receiving property or benefits in a moral manner Refers to receiving property or other benefits from relatives or from people given on various occasions, normally according to tradition or culture, or given according to the etiquette practiced in society.
- Giving Criteria : Criteria for giving financial support, entertainment fees, hospitality fees, gifts and assistance, charitable donations or other benefits to customers or persons related to or who have been of service to the Company.
- Receipt Criteria : Receipt criteria for gifts and financial assistance, entertainment and hospitality expenses, or other benefits.
- Subsidies means subsidies, aids, or contributions paid or received reasonably for the purpose of supporting business operations, promoting product brands, or the company’s reputation, which are beneficial to building commercial credibility and helping to strengthen business relationships. This does not include providing investment knowledge for the benefit of the ultimate beneficiaries of individuals, juristic persons, and/or funds, and does not include providing various compensation as specified in sales promotions, sales promotion activities under contracts or agreements, or employment under contracts. The company therefore has established a review and control process. If there is support, it must be proven that the person requesting support has actually carried out activities according to the project, that there are actions to support the project or activity to be successful and truly beneficial to society, including proof. It is stated that the provision of financial support or other benefits that can be calculated in monetary terms, such as accommodation, food, etc. , and is not related to any reciprocal benefits to any person or organization, except for the announcement of honor according to general practice.
- Entertainment and hospitality expenses mean expenses for entertaining on various occasions or according to customs or cultures, giving or receiving special privileges in receiving services, entertainment, recreation, as well as giving or receiving travel expenses or hospitality, travel, accommodation, food or any other things of a similar nature.
- Gift and financial assistance costs mean Cash or valuable or sentimental items given or received on important occasions and according to tradition or culture. This also includes giving or receiving things according to financial assistance, social etiquette, or local customs, such as New Year’s gifts, birthday gifts, gifts on the occasion of receiving a new position, financial assistance for funerals, chanting ceremonies, or any similar event.
- Business partners mean Vendors, contractors, service providers to the Company, including sales supporters, sales agents, independent representatives, and consultants.
- Conflict of interest mean Performing duties that must produce results or benefits in line with the company’s objectives but instead benefiting oneself or other related persons, resulting in the company not receiving the maximum benefit or possibly causing damage to the company, causing problems.
- Bribery means Offering property, prizes, gifts, money or any other benefits to any person in order for that person to act or refrain from acting in any way in his or her position, whether the act or Abstaining from or refraining from doing an action is either right or wrong according to one’s position, in order to persuade or induce that person to act or refrain from doing something dishonestly, contrary to the law, or against ethics or business code of conduct, whether directly or indirectly.
- Tradition refers to something that is considered a social practice that has been passed down until it becomes a model of customs, traditions, or practices.
- Stakeholders mean Government, business partners, customers, competitors, communities, employees and shareholders involved in the business chain
- Hiring government officials / Government employees refer to individuals who perform duties for government agencies or who were government officials, politicians, or consultants to government agencies who have come to work for the company. They may use their relationships or inside information to benefit the company or create a conflict of interest in the performance of duties of government agencies or business regulatory organizations with companies under their supervision, where the results of such actions are intended to create unfair business advantages or to establish policies that benefit the private sector for which the former government official worked.
Responsibilities
- Board of Directors Have duties
- Consider and approve the anti-corruption policy
- Supervise and ensure that there is an effective anti-corruption support system.
- transparency in business operations.
- The Executive Board has duties
- Establish rules, regulations and measures for employees to follow, including disciplinary punishments.
- Establish a standard work system and support the fight against corruption, as well as review the appropriateness of various preventive standards to ensure they are consistent with changes in business, regulations, rules and legal requirements.
- Promote and communicate to employees and all relevant parties to have knowledge and understanding of this policy.
- Provide channels for reporting clues or complaints, including measures to protect those who report clues or complaints.
- Report performance results to the responsible committee.
- Review/Improve Different policies etc.
- The Audit Committee has duties
- follow Review the financial and accounting reporting system, internal audit control system, and risk management system to ensure that the Company has a sound and appropriate internal control system, and report audit results, including urgent issues, to the Board of Directors on a regular and timely basis.
- All personnel and everyone in the company have duties.
- Understand and comply with the anti-corruption policy by not being involved in corruption, either directly or indirectly. If you have any doubts or find any violations of the company’s regulations, you must report them to your supervisor or through the company’s designated whistleblowing channels.
Publication of anti-corruption policy
The Company promotes various communication channels to keep employees and stakeholders informed.
Training
The Company provides anti-fraud and corruption education to the Board of Directors, executives and employees to promote honesty, integrity and responsibility in performing duties and communicating the Company’s commitment.
Notification of clues
The Company has designated executives at all levels within the organization to take responsibility and consider it important to ensure that employees under their supervision are aware of, understand, and strictly comply with the Company’s Code of Conduct, policies, procedures, regulations, good corporate governance principles, and various laws. The Company has also established guidelines for considering and investigating complaints or grievances that are systematic, transparent, and verifiable, so that complainants or complainants can trust and have confidence in the fair investigation process.
To ensure equitable and fair treatment of all stakeholders, the Company has established channels for reporting clues, complaints, comments, or suggestions indicating that stakeholders have been affected, or are at risk of being affected, potentially causing damage to all stakeholder groups, from the Company’s business operations or from the Company’s employees’ conduct in violation of laws, regulations, rules, or business ethics, including behavior that may indicate corruption, unequal treatment, or careless or indiscriminate actions. Reports or complaints, along with supporting evidence, can be made through the following channels:
- Audit Committee
- Company Secretary
Premier Products Public Company Limited
No. 2 Premier Place, Soi Premier 2, Srinakarin Road
Nong Bon Subdistrict, Prawet District, Bangkok 10250
Telephone: 02-301-2071
Fax: 02-748-2063
Email: Kulthida.act@pp.premier.co.th
www.premier-product.co.th/whistle-blowing
When the Company receives a tip, complaint, comment or suggestion, the Company will collect the information, process it, investigate and determine measures to alleviate the damage to those affected, taking into account the overall hardship and damage. After that, the person responsible for the matter has the duty to follow up on the results of the action and report to the person receiving the tip, including reporting the results of the action to the Audit Committee and/or the Board.
The Company will protect whistleblowers or those who cooperate in fact-finding investigations, whether they are employees, customers, individuals hired to work for the Company, or other stakeholders. The Company will not disclose any other information of whistleblowers, and will receive protection and defense of their rights under the law or in accordance with the Company’s established guidelines.
Punishment
Directors, executives, and employees of the Company and its subsidiaries, if they commit corruption, are considered to be violating the code of conduct, regulations, rules, and established policies. They must be considered for disciplinary action in accordance with the Company’s regulations. They may also face legal penalties if proven to be illegal. For Company employees who refuse to engage in any form of corruption, the Company will have protective measures in place, which will not demote, punish, or cause negative consequences for employees.