Corporate Governance Policy


IRPC The Company shall uphold the human rights of employees with no favoritism due to similarities or differences in race, religion, gender, age, education, and status.

1.Human rights and practices toward employees

  1. The Company shall uphold the human rights of employees with no favoritism due to similarities or differences in race, religion, gender, age, education, and status. That includes respect for individual privacy and protection of personal information.
  2. The Company enforces evaluation, remuneration, rewards, and punishment system with fairness, impartiality and transparency.
  3. Employees are aware of significance and provided with equal and continual opportunities to develop skills, knowledge, and capabilities. For critical posts, successor development plan is put in place.
  4. Knowledge, competence, aptitude, and performance of employees are referred to as key success indicators for job promotion and transfer. The evaluation is carried out with fairness, impartiality and transparency.
  5. Work-life balance of employees is encouraged. The Company supports initiative activities contributing to physical and mental health as well as good living quality of employees, their family members, community, society, and the nation as a whole.
  6. The Company establishes transparent steps, procedures, and mechanism to address fairness issues raised by employees.

2.Community, society, environment, health, and safety

  1. The Company shall fully comply with all legislations relating to QSHE and stipulation of the Company’s Management Guidelines. Universal standard managing system shall be introduced as a tool.
  2. Clean and environment-friendly technology is designed and utilized in production processes in compliance with environmental and safety engineering principles. Toxic chemical substances and surplus are managed systematically.
  3. The operation is regularly monitored, controlled and assessed to reduce impacts on environment, occupational health, safety and community
  4. The Company shall bring about understanding and express full cooperation by communicating factual information on its business condition and performance to community and society, investors, shareholders, and interested individuals in a timely and truthful fashion.
  5. Resources and energy are utilized economically and effectively to help contributing to the nature and environmental balance.
  6. The Company is committed to be part of the development and promotion of social activities, protection of environment and improvement of living quality of people in the community. The sustainable development principles are applied as guidelines with the aim to enable the good quality of life for the public.
  7. Employees at all levels are fostered to be accountable for society and environment.
  8. The Company shall promote, conserve and sustain the national custom and culture through cooperation and support toward policies and activities of public and private sectors which will benefit the community and society as a whole.

3.Accepting or giving any assets or benefits which influence decision making

  1. Individual employees shall undertake their jobs with faithfulness, honesty, diligence, and responsibilities.
  2. The Company discloses only truthful information. Any exclusion of information may misrepresent audit reports.
  3. No request or acceptance of any assets, objects or benefits from business stakeholders with an intention to influence an execution or exemption of unlawful acts is made.
  4. Authority by position or duty shall not be misused for personal benefits.
  5. Acceptance of gifts or souvenirs could be done only on proper or traditional occasions and the value of the accepted items does not exceed that indicated in the Company’s rule. If acceptance of gifts with a higher value than the specified amount is inevitable, it is advised to report to respective supervisors and the acceptance is made with openness and transparency.
  6. Employees shall refrain from participation in any activities and relationship which can spoil unbiased operation. That includes actions or relationship leading to conflicts of interests with the Company.

4.Conflict of interests transactions

  1. Employees shall refrain from any transactions pertaining conflicts of interests or influencing job-related decision making.
  2. Personal relationship with other individuals who may have conflicts of interests or be a business competitor is treated with discretion. Likewise, private relationship or business with coworkers is kept tactful.
  3. Information or opportunities obtained as an employee must not be misused for personal benefits, businesses, or other jobs not related to the Company, which has an impact on the employees’ job.
  4. No action or transaction shall be executed if pertaining conflicts of interests or an attempt to compete with the Company or causing loss of benefit or that lower than the Company is supposed to gain.
  5. The Company strictly complies with the Stock Exchange of Thailand (SET) and the Securities and Exchange Commission (SEC) rules and procedures regarding related-party information disclosure.

5.Buying or selling of the Company’s securities and the use of Company’s internal information

  1. Employees must avoid exploiting or disclosing the Company’s internal information to outsiders as well as misusing the Company’s undisclosed information to the public in order to generate benefit from buying or selling of the Company’s stock. Executives shall refrain from stock trading for a certain period of time even after the significant information is disclosed to the public so as to provide investors with sufficient time to analyze the information.
  2. Financial information, undisclosed performance trends, and views of the Company must not be exposed to media, investors, business analysts, and external consultants either on the internet or at public forums without an approval from the Company.
  3. Articulation of views to external parties or media regarding the Company’s business for which no clear policy or approach is in place as well as any other matters affecting the stock price shall be prevented or avoided.
  4. Critical undisclosed information is kept confidential and shall be exposed to a limited number of concerned employees only. All concerned must be notified of the information classification as “confidential” and the restriction of its use, including no misuse of such information for the purpose of stock trading.
  5. Information obtained through the work process is protected and not misused for personal benefits or unlawful acts.

6.Compliance with the law, relevant rules, and regulations

  1. Employees are committed to carry out work strictly in compliance with the law and the Company’s rules and regulations. They are deemed accountable for exploring approaches and advices regarding the relevant law amendments, changes or revisions to ensure lawful conduct.
  2. The Company’s rules and regulations, work-related legal acts, as well as disciplinary and punishment measures are studied thoroughly and comprehended. For senior/managerial level employees, they should be knowledgeable to give necessary clarifications to subordinates.
  3. Suitable behavioral and work-related discipline is advocated among individual employees and their subordinates by taking into consideration the situations, facts, and practicality.
  4. Lawful and Code of Conduct complying activities and transactions are respected and encouraged.

7.Use and maintenance of assets, data, information technology, and intellectual property of the Company

  1. Employees strictly comply with the law and rules concerning the use of the Company’s Information Technology
  2. Refrain from violations of copyrights and trademarks are exercised so as to prevent possible damage to the Company.
  3. The provided hardware and software are utilized solely for the Company’s business.
  4. Access to on file information and computer programs by external individuals is restricted for work-related only. Any individual granted with the access is closely monitored to ensure full compliance with the related law and the Company’s policy on Information and Communication Technology.
  5. The information system is secured and password for system access must not be disclosed to other persons.
  6. The Company’s assets are used efficiently to maximize the benefits and enhance its performance. No asset shall be exploited for personal benefit.
  7. The intellectual property as well as confidential information of the Company must be protected from any damage, loss, and depreciation. Such property must be best used for the Company’s maximum benefits.

8.Practices toward customers, quality of product, and marketing communication

  1. Advertisement of the Company’s products and services is fact-based, not misleading, not against morality/tradition, or social conflict provoking.
  2. The Company is committed to timely and by-agreement delivery of products and services.
  3. Standard and quality of products and services are maintained to gain customers’ trust and satisfaction.
  4. Customers’ complaints are welcomed and corrective actions are undertaken immediately. For cases with particular limitations or requires more time to solve, it is necessary to clarify details and status of the complaints to customers in a timely manner and to report on its progress from time to time.
  5. No request for money, objects, or any kind of benefits from customers is made in a way that is perceived as untrustworthy.

9.Practices toward partners (business partner and business creditors)

  1. The Company shall strictly abide by conditions, agreements, or contracts with business partners. In case of failure to comply, prompt notification, and negotiation with the contracted partners are executed to explore an appropriate solution and assure fair treatment.
  2. Procurement is carried out with transparency, accountability, integrity, fairness, and equal treatment to all stakeholders.
  3. Vendors participating in procurement exercises have lawful business, no record of labor abuse, and illegal or immoral production processes.
  4. The procured products and services are of good quality and health safety for users, employees, community, society, and environment.
  5. Procurement related information must not be misused for personal or unconcerned parties’ benefit.
  6. Negotiation and contract are made with fairness and equal benefit, taking into account the Company’s reputation and image.

10.Practices toward business competitors

  1. No attack, defamation, or slander against the competitors’ reputation is made without any reasonable proof.
  2. The Company shall not make any unlawful exercise in seeking information or trading secrets of competitors.
  3. Fair and by rule competition are encouraged.
  4. No agreement with any competitor or person shall be made in a way to decrease or limit business competition.
  5. Business equality, trustworthy, and mutual benefits are always taken into account.
  6. The Company runs business in line with this Code of Conduct.

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