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such policies on a regular basis. 3. Consider and approve the Company’s Code of Conduct. ANNUAL REPORT 2014 Authority and Duties of the Risk Management Committee 1. Convene meetings to assess risks that may have short-term and long-term impact on business operations, and arrange for review of such risks at least once every quarter. 2. Establish action plans to minimize business risks. 3. Monitor and report the result of risk management operations to the company’s Board of Directors. List of Audit Committee members who have knowledge and experience in reviewing financial statements Mr. Virat Phairatphiboon (Refer to profile in page 19) List of directors possessing financial knowledge Mr. Somchit Sertthin, Mr. Ekaphol Pongstabhon and Mr. Virat Phairatphiboon (Refer to profiles in page 18-21) 3 Nomination and Appointment of Directors and Top Executive The company’s procedure for consideration, nomination and appointment of di-rectors, independent directors and managing director is as follows: 1. The Board of Directors determines qualifications for directors, inde- pendent directors, and the managing director. 2. The Nomination and Remuneration Sub-committee screens and selects persons who have appropriate qualifications as required by the Board of Directors and proposes short-listed candidates to the Board of Directors for consideration. 3. The Board of Directors considers and selects the appropriate can- didates for the position of director and proposes a list of nominations to the Shareholders Meeting for consideration and election of directors. 4. The Board of Directors considers the appointment of an appropriate candidate as Managing Director. Qualifications for Independent Directors 1. Meet the required qualifications for directors. 2. Perform duties and express opinions by applying independent judgment, and upholding integrity and giving top priority to the Com- pany’s benefit rather than the interests of major shareholders, individual shareholders or own personal gain. 3. Possess all qualifications as required by the Stock Exchange of Thailand and best practices as follows: 3.1 Persons who hold shares of the company, affiliated companies, associated companies, in excess of 2% of the total number of


EN_Tipco_Annual Report 2014
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