Corporate Social Responsibility


Corporate Social Responsibility

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Introduction

As a member of Thai society, the Company realizes the importance of operating our business based on Good Corporate Governance along with Social and Environmental Responsibility as a part of Corporate Sustainability. Our business is not only to seek profits but also to give back to the community.

The reporting of Corporate Social Responsibility of the year 2018 is a way of communicating to the shareholders and other stakeholders of the Company regarding our policies, strategies, and the importance of Corporate Sustainability Development. This report includes the operations of our business and our CSR of the year 2018, which reflected our determination and intention to maximize returns to shareholders and stakeholders. The Board of Directors is directly responsible for proposing policies to ensure that the objective will be achieved.

The Evaluation Procedures of Significant Sustainable Developments

  1. Identification of Sustainable Material Issues
    • The Sustainable Material Issues in the year 2018 were brought up for a revision, to evaluate issues that matter to the Company and its impact on stakeholder’s consideration. The Company collected opinions from all departments from surveys, consultations, and conferences on various issues with all stakeholders. The strategies and risk issues of the Company had been adjusted accordingly in order to acknowledge the issues which are essential to stakeholders as well as to the Company.
  2. Mapping of Sustainable Material Issues
    • Analyze and reconsider the information gathered from both internal and external stakeholders.
    • Arrange the 10 issues gathered which are essential to the Company’s business, and are important to stakeholders. The horizontal axis stated the issues that are important to the Company, and the vertical axis stated the issues that are important to stakeholders
  3. Revision of Sustainable Material Issues
    • The Company used the data gathered to regulate and to develop Sustainable Material Issues according to the requirements of stakeholders, revised some information and published this report in the Annual Report to obtain further opinions and suggestions from stakeholders for improvement.

The Mapping of Sustainable Development Principles

The Summary of Sustainable Development Principles

Economical Issues

  1. Sustainable Growth
  2. Risk Management
  3. Digital Development
  4. Corporate Governance and Code of Conduct
  5. Returns and benefits of stakeholders

Social Issues

  1. Human Resources Development
  2. Human Rights
  3. Anti-Corruption
  4. Community support and donation

Environmental Issues

  1. Resources and environment conservation
Economic Issues

Sustainable Growth

The Company does not only focus on profit and growth, but also values clients’ satisfaction, to ensure Sustainable Growth. The Company emphasizes on structured management and good client relationship by constantly evaluating clients’ opinion and suggestion from various channels. Moreover, the Company analyzes and studies the clients’ behavior to understand the needs and expectations of clients in each business sector. The information will be used in the planning of yearly business objectives to expand business and opportunities. The Company continually search for new business and service path, to support small and medium sized enterprises (SMEs), to become the best factoring company in Thailand.

Risk Management

The Company recognizes the importance of risk management by implementing Risk Management policies throughout the whole organization. Risk issues, potential impacts, and the possibility of the events happening are thoroughly identified. The revision of the risk issues will take place where the issues tend to occur and to prioritize the risk management plan. Therefore, the Management reports the results of risk management to the Risk Management Committee at least twice a year, to revise and evaluate the risk management in each issue that may occur.

In addition, the Company hires internal audits from IFS Capital Limited (IFS Singapore) and AMC International Consulting Company Limited, to review the operations of each department, to ensure the effectiveness and efficiency of the systems of the Company. They are appointed to audit according to the laws and the rules of the Company. Moreover, they have to review the operations manual of each department and report directly to the Committee.

Corporate Governance and Code of Conduct

The Company adheres to Good Corporate Governance to ensure transparency, accountability, and morality. The Company follows the Principles of Good Corporate governance, the rules and regulations of SET, the Securities and Exchange Commission (SEC), and other related laws. Furthermore, the Company is responsible to all stakeholders, the economy, society and the environment (For further information, see Good Corporate Governance)

For Code of Conduct, the Board of Directors initiated Code of Conduct for the organization as a standard for all directors, executives and employees to follow. Code of Conduct is set as the principle actions to encourage honesty to self and to others.

In conclusion, the committee believes that operations under Good Corporate Governance and Code of Conduct will influence every area of the Company in the positive way. For instance, it will promote sustainable growth, increase returns and value to shareholders, and continuously raise the reliability among the stakeholders and others.

Returns and Benefits for Stakeholders

All stakeholders are crucial to the Company, helping the operations of the business as well as promoting the growth of the Company. The good relationship between stakeholders (shareholders, clients, business partners, banks, etc.) is essential to the products and services development of the Company. To understand the expectations, interests, or any other concerns of all stakeholders internally and externally, the Company is opened for opinions and suggestions, which becomes a good source of information to help improve products and services of the Company according to the expectations. Moreover, the Company continues to sustainably develop its operations to support the society and environment. The Company expects to constantly return profit and pay dividend to the shareholders.

Social Issues

Human Resources Development

The employees of the Company are the most important resource which effectively improve the organization and support sustainable growth. Employees are encouraged to attend training and development as one of Human Resources Development’s Strategies. In the year 2018, the Company followed the Human Resources Development Policies and Strategies as below:

  • Personnel Skills Development

    The Company is determined to develop Human Resources to become experts and able to give the best services to clients, and to support the expansion of the business. There are both internal and external training along with Competency skills course; assignment of important duty to skilled employees as a test, mentoring and coaching system, on-the-job training as well as education in morality. The Company fully promotes Human Resources Development by searching for qualified and appropriate courses for qualified employees, which will help to support the organization as a whole.

      

    In the year 2018, the Company encouraged all employees to attend trainings and seminars to improve work effectiveness and operating skills as below:

Number (person)
Number of total training hours (hour)
Average number of training hours per person (hour)
Executives and Employees
85
466
5.25
Divided by Levels
- Executives
9
128
14.22
- Employees
76
338
4.45

  • Employees’ Welfare

    In 2018, the Company conducted an Employee’s Satisfaction Survey and also a 360 degree evaluation to effectively improve Human Capital. The Company modified the employee’s Welfare as below:

    1. The Company started a Scholarship Scheme for children of the employees that meet the standards set by the Company. In 2018, 6 scholarships had been granted to qualified children of the employees.

    2. The Company improved its health and accident insurance according to higher living and medical treatment expenses.
    3. The Company improved the employee’s health by providing free Influenza vaccination and encouraging daily exercises.

    In the year 2018, the results of the survey indicated that 100% of the Employees were happy with the Company. However, the turnover rate of the employees was higher due to various personal reasons.

    Employee Turnover Rate (Year 2016-2018)

Year 2016
Year 2017
Year 2018
Number of employee (person)
79
83
85
Turnover rate (percentage)
5
2
7

Human Rights Movement

The Company respects Human Rights. The Company adheres to fairness and equality, so the committees, directors, and employees are encouraged to respect Human Rights, duties and responsibilities as follows:

  1. Respect and adhere to human rights and human dignity of all employees and stakeholders.
  2. Encourage fairness and equality without violating other people’s rights with speech and actions due to differences, such as nationality, sex, age, religion, physical characteristics, economic and social differences, opinions and believes, etc.
  3. Treat every employee with the basic standard of human rights. Support every right of the employees according to the law, and respect the duties and responsibilities of others. Create good working relationship among employees.

Moreover, the Company also opposes the piracy of intellectual property by preventing the employees from using copyright items in any of the Company’s advertising and printed materials or any other works without the permission from the owners.

Anti-Corruption

The Company aims to operate business under Code of Conduct and Corporate Governance Principles. The Company promotes the anti-corruption knowledge for every employee in the organization to comprehend its determination against any corruption. The Company is certified as a member of the Collective Action Coalition against Corruption (CAC) since 2017, and the Company is still determined to carry on its anti-corruption policies.

The anti-corruption policies and manual are clearly published by the Company as an operating guide for directors, executives and employees. Every year, all directors, executives and employees have to sign to acknowledge the policies.

In 2018, the Company did not receive any complaints on corruption or on the employees both internal and external of the organization.

Community supports and donations

Social Responsibility policy is another priority of the company, which follows the company’s visions and strategies. In the past year, the Company accomplished social supports as follow:

Phrabatnampu Temple, Lopburi

In June 2018, executives and employees of the Company joined the CSR project, donating 103,545 Baht to a HIV Rehabilitation & Orphanage Center - Wat Phra Baht Nam Phu, Lopburi.

Wat Makham School

On 12 June 2018, the Company renovated and delivered multi-purpose building to the School, with the total donation of 248,991 Baht.

The Thai Disables Development Foundation

On 26 June 2018, the Company’s representatives delivered 10 wheelchairs to The Thai Disables Development Foundation.

The Oriental Magpies book donation project

The Company printed “The Oriental Magpies” which were Thai-English reading books and distributed 100 copies to the school listed below:

  1. Seeyatpattana School; 217 Moo 13, Thatakieab, Chachoengsao 2416
  2. Baan Moungmai School; 31 Moo 3, Napang, Phupieng, Nan 55000
  3. Banbangkran School; Moo 4, Klongtomnua, Klongtom, Krabi 81120
  4. Watmakham (Sriwitthayakhan) School; 12 Moo 3, Banklang, Muang, Pathumthani 12000
  5. Plookchit School; 99 Soi Plookchit, Lumpini, Pathumwan, Bangkok 10330
  6. Khlongthommittraphab 160th School, South Klongthom, Klongthom, Krabi 81120
  7. Other schools

Nakhonpathom Public Aging Home

On 6 October 2018, the Company’s executives and employees participated in the welfare of multiple socially disregarded communities to provide luncheon & gifts and also joined fun activities with the elderly at the Nakhonpathom Public Aging Home.

  

  

  

  

Environmental issues

Resources and environment conservation

Although the Company’s business does not directly impact the environment, but the Company recognizes the significant of environmental conservation. Every humans gain benefits from the environment so it is responsible for every mankind to preserve environment. The Company encourages every executives and employees through communication and campaigns to acknowledge the essential of efficiently environmental usage, such as water and energy saving, as a part of environmental responsibility. In 2018, the Company incited environmental conservations as follow:

  • Promote information storage as electronic files (scan soft file) instead of making hard copies
  • Improve the operating system and operating procedure to reduce the paper used
  • Raise energy and water saving campaign, as well as the efficient use of office supply
  • Support the use of environmental-friendly products