Why is this Important?

[GRI 2-17 (2021)]

EGCO Group places importance on integrating economy, social, and governance (ESG) into all operational processes, aligning with the United Nations’ sustainable development goals (SDGs). The company has set its corporate goals in line with international goals. EGCO Group is committed to doing business efficiently and transparently following good governance principles. This is one of the key factors driving the organization to sustainable growth while achieving its goals. Since EGCO Group operates in both Thailand and overseas, the company is required to comply with the laws and regulations of each country. Any violation could lead to negative impacts, both in terms of physical damages and its reputation, as well as the Group’s business operations. EGCO Group is therefore committed to operating with honesty, fairness, and transparency, in compliance with the laws, regulations, and relevant requirements, as well as in compliance with the good governance principles as prescribed by The Securities and Exchange Commission (SEC) and The Stock Exchange of Thailand (SET). To ensure compliance with EGCO Group’s good governance principles, the Board of Directors (BOD) has established written Good Corporate Governance Principles and a Code of Business Ethics to be practiced by its directors, management, and employees which are made available internally and on EGCO Group’s website.

Sustainability Material Topic: Corporate Governance Stakeholder Impact on Material Topics

Investors

Management Approach

Corporate Governance Framework and Structure

[GRI 2-9 (2021)]

The Board of Directors (BOD) prescribes Good Corporate Governance Principles based on 6 pillars – P-R-E-A-C-T –as a framework for overseeing and managing EGCO Group’s business operations

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Definition of Independent Director and its Comparison between Governance Criteria

EGCO Group’s definition of independent director is more stringent than the criteria set by The Stock Exchange of Thailand and the Notification of Capital Market Supervisory Board Re: Application for Approval and Granting of Approval for Offering of Newly Issued Shares.

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Board Diversity, Expertise and Experiences

[GRI 2-17 (2021)]

The composition of EGCO Group’s Board of Directors and their qualifications adhere to the company’s regulations and corporate governance principles, which have a non-discrimination policy concerning gender, sexual orientation, nationality, race, cultural background, and disabilities.

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Board Effectiveness

[GRI 2-18 (2021)]

EGCO Group’s Board of Directors’ performance assessment is conducted on an annual basis to review the achievement and address any issues arising during the previous year. The effectiveness of the operation is evaluated using the self-assessment form verified by the Nomination and Remuneration Committee.

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Management Compensation

[GRI 2-19 (2021)]

Remuneration for senior management is specified by the Board of Directors. EGCO Group’s management received remuneration as monthly salaries and annual bonuses based on the achievement of EGCO Group’s key performance indicators.

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Related Documents

Policies, Requirements and Performance

  • Sustainability Manual
  • Good Corporate Governance Principles and Code of Business Ethics (Edition 2022)
    Effective from August 1, 2022 onwards
  • Charter of Board of Directors
  • Statement of Diversity and Inclusion Promotion
  • Management Compensation Guideline
  • Management and Employee Stock Ownership Principle
  • Corporate Key Performance Indicators
  • Key Performance Indicators for President
  • Definition of Independent Director and its Comparison between Governance Criteria

Updated as of April 2024

The information reported above was prepared in accordance with the Global Reporting Initiative Standards (GRI Standards). It has been audited by an external party and has received limited assurance through the 2023 Annual Report.