Corporate Governance

The Company recognizes the importance of risk management
integration policy to ensure the Company's steady growth

Corporate Risk Management

The Company recognizes the importance of risk management integration policy to ensure the Company's steady growth with reduced or minimum damages caused by surrounding environmental and potential risks, which could have damaged the Company's employees, assets, business operations, and reputation.

Executives and the employees are to adhere to the risk management policy so as to create awareness, collaborate, and streamline the risk management practices throughout the organization. Risk management processes and the level of manageable risk at an appropriate level are clearly defined, and in-line with the risk management strategies, action plans, and activity plans of all units. This includes such measures as continued risk assessments, review, enhancement, development of risk management process, as well as the annual review of risk management policy. Such measures aim to ensure the Company's risk management process and policy are in place and able to respond positively to the changing business environment. The Company shall appoint the Risk Management Committee to oversee and manage the overall risk management of the organization, who are required to submit quarterly risk reports to the Audit Committee.

Emerging Risks

  Emerging Risk 1 Emerging Risk 2
Risk Risk for Free Trade Area and Changing Trading Regulation, for example, Trans-Pacific Partnership (TPP) that will affect with IRPC’s business opportunities in term of product development and market opportunities, as well as to promote the new product research in order to respond the customer’s various needs, for instance, green and energy saving product, etc. Risk for Natural Gas (NG) Supply will be shortage which will affect to IRPC business operation such as power and utility plant will be shut down due to black out. The forecast of NG supply may be exhausted from drilling in the Gulf of Thailand within 10 years.
Mitigation Develop the production and marketing to adapt to the new regulation. As well as expand the markets to the region where there is no impact from regulation change. Study the process to change other raw material to replace NG such as fuel oil, LPG etc. and coordinate within PTT Group to prepare infrastructure for impacting or using from other source of NG.