Corporate Governance and Business Ethics
Importance and Mission
The significance of transparency, accountability, and stakeholder trust for the Group: Business operations in the modern era face increasing complexity and competition, along with rising economic, social, and environmental challenges. Transparency, accountability, and trust among stakeholders have become fundamental to achieving long-term sustainability. In the renewable energy sector, where operations depend on natural resources and stakeholder engagement, these principles are particularly vital. Sermsang Power Corporation Public Company Limited is committed to good corporate governance, ethical conduct, responsible management, and transparent reporting. These practices help deliver value to stakeholders, enhance the Group’s credibility, attract investment, and facilitate access to sustainability-linked financing. They also support effective risk management and fraud prevention through strong compliance with legal and international standards.
The Group’s commitment to ethical and accountable governance reinforces stakeholder trust, safeguards its competitive edge, and supports long-term business resilience. This approach is also aligned with the United Nations Sustainable Development Goal 16, which promotes peaceful and inclusive societies, ensures access to justice for all, and supports the development of effective, accountable, and inclusive institutions at all levels.
SDGs in the Corporate Governance and Business Ethics
Goals and Performance Highlights
Goals
Enhancing the corporate governance policy to comprehensively cover the structure, roles, duties, and responsibilities of the Board of Directors, as well as principles of transparent management.
Ensuring that the group operates fairly to serve the best interests of stakeholders and shareholders.
Building an organization that promotes sustainability and fosters trust among all stakeholders.
Fostering trust and sustainability among stakeholders and relevant internal and external entities to ensure compliance with international standards.
Conducting business in accordance with ethical standards and principles of good corporate governance to ensure sustainable growth and social recognition.
Achieving sustainable business growth by focusing on creating meaningful employment, promoting economic development, and eliminating corruption.
Fostering a transparent corporate culture grounded in the principles of good corporate governance.
Performance Highlights 2024
In 2024, the company did not receive any complaints or allegations related to corruption.
SSP promotes a "No Gift Policy" to reinforce a corporate culture rooted in integrity, transparency, and fairness.
The company has established channels for filing complaints and reporting whistleblower tips.
The company has an internal control system under the supervision of the Audit Committee.
SSP has a code of business ethics that must be adhered to by directors, executives, and employees.
In 2024, the company had no cases of violations of the code of business ethics.
Management Approach
Corporate Governance Approach at Sermsang Power Corporation Public Company Limited (SSP) is firmly committed to integrating sustainability and good corporate governance across all aspects of its operations. The company has established the Corporate Governance and Sustainability Development Committee to formulate policies and operational guidelines that prioritize economic, environmental, and social considerations. The Board of Directors adheres to the principles of good corporate governance, including the rights of shareholders, equitable treatment of shareholders, roles of stakeholders, disclosure and transparency, and board responsibilities. SSP has outlined a code of conduct emphasizing integrity, transparency, good governance, and social ethics to ensure ethical practices. To prevent and address corruption, the company has implemented several measures such as anti-corruption policies and a supportive corporate culture, reporting and investigation procedures, and oversight of financial transactions. In addition, SSP has established sub-committees such as the Audit Committee, Risk Management Committee, Nomination and Remuneration Committee, and the Executive Committee to ensure that operations align with corporate objectives. The Board is responsible for reviewing corporate governance policies, monitoring compliance, and overseeing the company’s business ethics. Lastly, the company has structured its procurement processes and evaluation criteria in accordance with its internal guidelines.
This table can be scrolled horizontally
Board Skills Matrix
| Board Skills Matrix | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Name/Specialized knowledge and expertise |
Gender
|
Age
|
Independent Director
|
Industrial
Management |
Marketing
|
Accounting
and Finance |
Management
|
Law
|
Corporate
Governance |
Risk
Management |
Human
Resources Management |
Audit
|
| 1. Mr. Kamthon Wangudom | M | 78 | ||||||||||
| 2. Emeritus Prof. Samrieng Mekkriengkrai | M | 70 | ||||||||||
| 3. Mr. Dhana Bubphavanich | M | 57 | ||||||||||
| 4. Ms. Thantaporn Kraipisitkul | F | 44 | ||||||||||
| 5. Mr. Tanawat Kraipisitkul | M | 40 | ||||||||||
| 6. Mr. Varut Tummavaranukub | M | 42 | ||||||||||
| 7. Mrs. Thanyanee Kraipisitkul | F | 68 | ||||||||||
| 8. General Phairat Phoubon | M | 68 | ||||||||||
| 9. Mr. Monchai Phongsathabodee | M | 58 | ||||||||||
| 10. Ms. Lanlalit Maitreevithyanont | F | 38 | ||||||||||
| Total | 5 | 10 | 5 | 5 | 10 | 2 | 10 | 5 | 2 | 3 | ||