Announcement of Global Power Synergy Public Company Limited No.009/ 21 Subject: GPSC Risk Management Policy
Global Power Synergy Public Company Limited (GPSC) strongly believes that a systematic business operation along with risk management that covers all business activities as well as the effective internal control and internal auditing will drive GPSC to sustainably achieve its strategic objectives under volatile business environment and competition
Policy and practices of GPSC risk management have been defined as follows:
- GPSC will establish enterprise risk management system, framework, and procedure, which are interrelated among the corporate level, functional level, and GPSC Group level according to its strategy, objectives, and dynamic environment, to align with international standard as well as will continuously conduct risk assessment, risk monitoring, and risk management efficiently.
- GPSC will allocate resources and provide ways of support to ensure that risk management will be appropriately and most effectivelyimplemented.
- GPSC Risk Management Committee are responsible for governing and promoting risk management activities, which coverall dimensions including strategy and investment, finance,business, technology and operation, laws and regulation, human resource and organization along with environmental, social, and governance risk (ESG risk), fraud and corruption risk, and emerging risks (e.g., information technology and cybersecurity) of GPSC Group, as well as providing suggestion, monitoring, and evaluating the result which complies to enterprise risk management framework in order to ensure that GPSC has sufficient and appropriate risk management that can be promptly respond to business impact.
- GPSC Risk Management and Internal Control Committee areresponsible for implementing overall risk management and developing enterprise risk management to align with international standard as well as defining the responsible person to be accountable for risk mitigation in order to follow up the progress effectively.
- With the reasonable assurance and managing risk within GPSC’s Risk Appetite under best interest of the company and stakeholders, all executives and employees are responsible to comply with the GPSC risk management policy and practices as well as to report the result according to GPSC risk management process
Issued on 28 April 2021
Mr. Wittawat Svasti-Xuto
Chairman of the Risk Management Committee