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EN_Tipco_Annual Report 2014

Rights of Shareholders Equitable Treatment of Shareholders Rights of Stakeholders Information Disclosure and Transpar Board of Directors’ Responsibility ANNUAL REPORT 2014 2013 91% 94% 96% 95% 62% 83% 84% 88% 80% 85% GOOD CORPORATE GOVER-NANCE 2014 The Company adopted the Stock Exchange of Thailand’s 2012 Principles of the Good Corporate Governance for Listed Companies by integrating the up-dated version of the Principles of Good Corporate Governance into the orig-inal SET 2006 Principles of Good Corporate Governance for Listed Compa-nies, which the company had already implemented during the period 2006 –2012, thereby ensuring consistency and alignment with the Organization for Economic Co-operation and Development (OECD) and the ASEAN Commu-nity criteria for Good Governance. In 2010, the Handbook on Good Corporate Governance and Code of Conduct was revised along with the Company’s organizational structure with a view to promoting transparency, accountability and measurable operational effi-ciency. Guidelines relating to proper practices and relationships vis-à-vis var-ious stakeholder groups were also clearly defined, taking into account changes in the social and economic environment as well as regulations and standards that had been incorporated into the company’s Handbook. In addition, train-ing programs relating to the Handbook content were conducted for every operational unit of the company’s Food Business to ensure that all employees thoroughly understand and adhere faithfully to the Principles of Good Corpo-rate Governance and Code of Conduct, whilst fostering a compliance culture to build a firm foundation for sustainable future growth and continuous value added for the benefit of all stakeholder groups. According to the 2014 annual corporate governance assessment conducted by the National Corporate Governance Committee, the Company received a total score of 81%, which is equivalent to “Very Good” rating, compared with the industry average score of 80% assigned to peer listed companies that are included in the SET 100 Index. Details of TIPCO’s scores rated in 2013- 2014 are as follows: As guidelines and the criteria for the abovementioned scorecard rating were adjusted in 2014 to ensure consistency with the ASEAN CG Scorecard, scores rated in 2014 cannot be compared with the previous year’s scores. 1. Corporate Governance Policy In 2013, the Company reviewed its Corporate Vision, Business Objectives and Targets, long term strategies, as well as immediate Action Plans, to en-sure consistency with current and future business landscape. The new Vision statement focused on creating value added for all groups of stakeholders in-cluding employees, consumers, trade partners, business allies and society. To ensure that this Vision becomes a reality, the Company’s operational activities would focus on 4 areas, namely, Financial Management, Customer Relations, Internal Processes, and Human Resources Learning and Growth. In addition,


EN_Tipco_Annual Report 2014
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