Report of the Corporate Governance Committee

Mrs. Kongkeaw Piamduaytham

Chairman of the Corporate Governance Committee

Operating business under good corporate governance and the code of conduct is one of the company’s most significant policies and missions which is the priority for the Board of directors, executives, and all employees. To ensure that our business operations follow these policies, The Board of directors, hence, established and assigned the Corporate Governance Committee for supervising, monitoring, and encouraging the company to operate by our corporate and governance policies and guidelines, as well as code of conduct.

The Corporate Governance Committee is confident that the Corporate Governance Policies, Ethics, and business ethics, along with contributing to the development in the economy, social, and environment in Thailand not only the key factors to drive the company to become the leading company with stable and sustainable growth but also bring confidence to shareholders and investors. Moreover, the company is aware that corruption is a barrier to social development and the country’s economy. Nowadays, the company is one of the members of the Collective Action Coalition which is a part of compliance to good corporate governance and received a certificate on 18th October 2019.

For the company’s operations in 2021, the company received awards and ratings for compliance with good corporate governance principles and sustainability, both domestically and internationally as follows:

  • Received “Excellent” (five stars) scoring of the Corporate Governance Report of Thai Listed Companies 2021 (CGR), conducted by the Thai Institute of Directors (IOD) for the 4th consecutive year.
  • Received “Very Good” (99 points) scoring of AGM checklist quality in 2021, conducted by the Thai Investors Association.
  • Even if in the Covid-19 pandemic which causes economic volatility around the world, TRIS Rating affirmed the company rating at BBB+ with a “Stable” outlook.
  • As the result of “ASEAN and Thailand’s Top Corporate Brands” research, the company is selected as a “Thailand Sustainability Investment (TSHI)” by the Stock Exchange of Thailand, for the 3rd consecutive year from sustainable business operations and determined to be a microfinance provider who is responsible to all of the stakeholders and be a role model to others entrepreneurs in this industry in terms of corporate governance and aware of the impact and strategy development covered the environment, society, and corporate governance (ESG) for further sustainable development.
  • Received “A” scoring of MSCI ESG Index in the consumer finance industry, conducted by MSCI for the 2nd consecutive year.
  • The company is selected as a member and rated in the FTSE4Good Index Series in the FTSE4Good Emerging Index from FTSE Russell, 3.5 out of 5 rating scale or equal to 1.4 times of the industry average.
  • Received the GLOBAL BANKING & FINANCE AWARDS® 2021, conducted by Global & Finance Review of “The Next 100 Global Awards 2021” in non-bank financial and the company is the only Thai company who received this award.
  • Received “Thailand’s Top Corporate Brands 2021” award with the highest corporate brand value in the finance and securities sector, from Master in Branding and Marketing, Chulalongkorn Business School.

Moreover, The Corporate Governance Committee has been reviewed and followed up on the performance according to the guideline on corporate governance, including the social, community, and responsibility program to be by the Corporate Governance Code for the listed company (CG Code) under The Securities and Exchange Commission, Thailand, The Stock Exchange of Thailand and the Corporate Governance Policies and the Company Ethics Manual at least once a year.

The company also adheres to an approach to social responsibility by having executives and employees at all levels in the organization take concrete actions as follows:

  • Following, supporting, and encouraging the employees at all levels to follow the corporate governance guideline strictly and foster to aware of anti-corruptions.
  • Supporting and encouraging the company to arrange the Corporate Social Responsibility (CSR) activities by building a children’s development center building every year which will rotate according to the area of the branch. This project started from 2012 onwards until the present. In 2021, 4 children’s development centers were built as follows:
    21st Children’s development center was built for Wat Noan Daeng, Tambon Na Ngam, Amphoe Mancha Khiri, Khon Kaen.
    22nd Children’s development center was built for Banklongkhut, Tambon La-ngu, Amphoe La-ngu, Satun.
    23rd Children’s development center was built for Srimahaphot School, Tambon Ban Lum, Amphoe Mueang, Sukhothai.
    24th Children’s development center was built for Watkhetudom, Tambon Wat That, Amphoe Mueang, Nong Khai.

From performance and assessment as mentioned above, means the company’s operations under the principles of good governance. The Corporate Governance Committee believes that operating business with transparency and continuously developing good corporate governance will make the organization grow sustainably and build confidence in shareholders and stakeholders. The company still improves and develops guidelines for good corporate governance to be consistent with the company's business operations continue to be in line with international practice.