Governance, Risk, and Compliance

Importance

                 Driving sustainable business requires a strong operational foundation supported by Governance, Risk Management and Compliance (GRC), which plays a critical role in managing actual and potential negative and positive impacts on stakeholders.
                 Accordingly, OR places strong importance on effective GRC management by implementing comprehensive risk management across the entire business value chain, strictly complying with applicable laws and regulations, and establishing governance mechanisms with clearly defined responsibilities. These mechanisms cover both OR’s own operations and business relationships with suppliers. Such practices not only help mitigate risks that may cause damage to the business, including financial and reputational impacts, but also prevent potential negative impacts on stakeholders. In addition, they enable OR to respond to societal expectations while building confidence in business operations among all stakeholder groups.

2025 Targets

Management Approach

Communicating and building corporate culture on GRC for directors, executives and employees

               OR has prepared and published the Corporate Governance, Ethical Standards and Code of Business Ethics Handbook or CG Handbook to ensure that all employees understand the culture of corporate governance and anti-corruption policy. The cultivating of understanding of the CG Handbook during the company’s orientation with new joiners including directors, executives, and employees. All employees are required to acknowledge and comply with OR’s Corporate Governance Policy and CG Handbook. OR supports training courses on GRC including E-Learning courses, good corporate governance, Anti-Corruption, Personal Data Protection Act B.E. 2562 (2019), Internal Control & Risk Management course, and the Compliance Policy training course. This is to enhance knowledge and understanding of operations based on morality, ethics, corporate governance guidelines, risk management, and compliance with laws.
                In addition, OR offers training courses and assessments of knowledge and understanding regarding good corporate governance, insider trading, conflict of interest and anti-corruption for employees through the CG E-learning platform, with 96.78% of OR employees who attended and completed the course. Employees reported their satisfaction with OR’s Corporate Governance Awareness Campaign and addressed that CG information is easily accessible. In addition, OR has provided channels enabling all employees to seek information, raise inquiries, and submit suggestions to the Corporate Governance Department.
                To ensure that all OR employees operate with significant interest in honesty and fairness, OR requires employees, including executives at all levels, to prepare report on possible conflicts of interest with the Company to ensure that employees perform their duties with the best business interests of the Company and stakeholders.

Communicating and Building GRC Corporate Culture for Suppliers and Joint Ventures

            OR continues to focus on communicating good corporate governance to business partners. OR established the OR Supplier Sustainable Code of Conduct (SSCoC), which specifies ethical expectations, anti-corruption, and transparency in suppliers’ business operations. The Company also encourages suppliers to implement the principles of OR’s CG Handbook and communicates such practices at the supplier annually meeting and sends a formal letter to the suppliers. Suppliers who have contracted procurement must acknowledge and sign with accepting the Supplier Sustainable Code of Conduct.
            OR has established 2025 OR Group Way of Conduct to provide a corporate governance framework for subsidiaries and joint ventures. This is to comply with the company’s good corporate governance policy and PTT Group Way of Conduct. OR focuses on continually improving the GRC management system, along with creating an organizational culture of OR Group Way of Conduct. This communication has been made to all subsidiaries and joint ventures, both domestically and internationally to ensure strict compliance.
For more details on Corporate Governance, please refer to 56-1 One Report

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