BUSINESS ETHICS AND ANTI-CORRUPTION
Roadmap to Success
Approaches to Business Ethics and Anti-Corruption are as follows:
- Corporate Governance (CG) & Code of Conduct Policy and Manual
- Anti-Corruption Policy
- Compliance Policy & Charter
- Whistleblowing and Complaints Handling Policy
- Law and Regulation Policy
- Asset Management, Confidentiality and Information Disclosure Policies
- Action Plans:
- Roles and responsibilities for legal affairs
- Practices on anti-corruption, anti-gift/benefit accepting and giving through information technology and communications
- Reports on stakeholder engagement of directors, executives and related persons. The report criteria include those in the first report, quarterly reports on changes of stakeholders’ information and annual reports on shareholders’ information
- Raising awareness of business ethics and anti-corruption among all stakeholders, including directors, employees, executives, representatives of affiliate companies, business partners and other groups
- Filing and Reporting Performance
- Filing and Reports on security holdings of the company’s directors, and senior executives
- Filing and Reports on shareholder engagement of the company’s board members, executives, and persons involved
- Filing and Reports on lists of gifts or other benefits incompliance with the practices on anti-corruption, anti-gift/benefit accepting and giving through information technology and communications
- Filing and Reports on disclosure of the company’s conflicts of interest
GPSC’s Corporate Governance & Code of Conduct
All the company’s employees must uphold and comply with the GPSC’s Corporate Governance & Code of Conduct under the supervision of the good governance committee to ensure sustainability of the company’s good governance in comparison to international practices. The company has instilled ethics in its working culture, with integrity as one of the core corporate values, through various activities and various channels. After signing an acknowledgement of GPSC’s Corporate Governance & Code of Conduct Manual, all the company’s board members, executives and employees, have strictly upheld these as guidelines. In 2018, a brief version of GPSC’s Corporate Governance & Code of Conduct Manual was published covering 15 aspects of the practices for running the business with fairness, accountability and transparency based on international corporate governance. A report on disclosure of the company’s conflicts of interest was also published, where the company’s employees are required to report conflicts of interest at least once a year and whenever any changes, as specified in the Code of Conduct, on shareholder engagement and conflicts of interest, arise.
To ensure the efficiency of the Company’s operation, as well as its subsidiaries and associated companies, in accordance with the laws, rules, regulations, good corporate governance policies and business ethics with transparency, fairness and accountability, the Company, therefore, has issued the Whistleblowing and Complaints Handling Policy, together with a complaint process and protection for whistleblowers and relevant parties. The process and protection include mechanisms for tracking and investigating to prevent risks and damages, as well as to protect all groups of stakeholders and those who report clues or complaints with good faith.
In 2019, the Company received complaints regarding violation of the Company's business ethics. There were four complaints that passed the criteria and were registered. The investigation process was completed and all involved people were disciplined. Two of them were involved with flaw duty and the other two involved with corruption. However, there was no complaint related to anti-competitive behavior, anti-trust or monopoly practice.
Whistleblowing and Complaints Handling System
To enhance effectiveness in business operation and to ensure the company, its subsidiaries, affiliated companies, employees and other people act in line with the company’s laws, regulations, corporate governance & code of conduct policy, and to prevent potential risks and damages to all stakeholders, as well as to handle complainants fairly, the company has announced the Whistleblowing and Complaints Handling Policy, procedures and check and In 2019, after receiving a complaint in relation to the breaching of the company’s code of conduct, the company conducted an investigation and took disciplinary action against the persons involved. The company also publicly disclosed the number and cases of code of conduct breaches in its annual report and the information checklist (56-1 Form). However, there have been no complaints of anti-competitive behavior, anti-trust and monopoly practices via the company’s complaints channel.
Raising Awareness on Business Ethics and Anti-Corruption
In a bid to bring the attention of all employees to business ethics and anti-corruption so that they can put them into practice, various events were held in 2019, as follows:
- Orientation program for new employees to integrate them with the knowledge and understanding of good corporate governance, business ethics and anti-corruption practices
- “QSHE & KM Day 2019” was held to raise awareness and understanding on business ethics and anti-corruption measures by using a quiz to test the participants’ understanding of the topics on August 29, 2019
- GPSC attended an academic seminar under the topic “Together We Fight Corruption” on Anti-Corruption Day on September 6, 2019. The event seeks to encourage all Thai people to fight against corruption as volunteers in the cause.
- On September 11, 2019, GPSC joined PTT Group CG Day 2019 under the concept “Digitalization: CHALLENGE The GOVERNANCE.” The aim is to drive the company in line with the era of continuous change while conforming to good corporate governance. The integration of up-to-date technology and information is implemented to enhance corporate governance practices and achieve excellent management that is transparent and fair for all stakeholders.
- Knowledge transfer on Anti-Corruption Measures at GPSC Annual Supplier Seminar 2019 on November 12,2019
- GPSC attended International Anti-Corruption Day (Thailand) under the concept “Zero tolerance, Thais will not tolerate corruption” on December 9, 2019.