Responsibility to Stakeholders

PTTGC has established both policies and working practices about PTTGC and its responsibilities towards each of its stakeholder groups. They are outlined in the Corporate Governance and Business Code of Conduct Handbook of PTTGC. Furthermore, emphasis is put on quality, safety and occupational health. Also, the Corporate Governance Committee has tasked management with reporting on its relations with each stakeholder group. These reports were assembled quarterly between 2012- 2013. They indicated an improvement of stakeholder relations due to systematic adherence to the principles of Good Corporate Governance. PTTGC strives to make sure that all stakeholder rights are preserved. In the case of any infringement of these rights, PTTGC has created a system to make sure that fair compensation is made. This has been summarized below:

  • 1. Shareholders
    PTTGC provides its shareholders with a fundamental set of rights, according to law as well as Company's Articles of Association. This includes the right to attend and vote at the Annual General Meeting of Shareholders, the right to voice opinions freely at the Meeting, as well as the right to receive a fair return on their investment. PTTGC also grants shareholders the right to make any inquiries and suggestions related to PTTGC operations, and this helps to ensure both operation stability and sustainability while adding maximum value to shareholders.
  • 2. Customers
    PTTGC aims to provide the greatest benefit possible to its customers and those who use its products, encompassing aspects ranging from quality to fair pricing. Maintaining sustainable relationships is the key to this. A working unit has also been established to be responsible for providing constructive suggestions on the improvement of product and service quality. Their work ranges from providing input on improving production processes, to finding solutions to problems, and to fielding complaints from customers. This helps PTTGC to better satisfy its customers while addressing their needs. Efforts such as these are conducted according to the principles of Good Corporate Governance and Business Code of Conduct. PTTGC places special emphasis on providing solutions to customers whose products are still under warranty or time-sensitive conditions. A system is in place to receive complaints regarding PTTGC products and services to meet customer needs in an expedient and fair manner. Complaints are fielded through a number of different channels including PTTGC's Website, email and telephone. There is also a Customer Relations Management (CRM) system operated by a team dedicated to these efforts. Not only does this team work to ensure a solution is found for each complaint raised, it also ensures that the source of these complaints is eliminated and prevented from happening again. Complaint monitoring and assessments are a regular part of PTTGC operations. In addition to what has already been laid out in the Corporate Governance Handbook, additional principles apply to these efforts such as Marketing Excellence and maintaining a Customer Centric approach. Customer satisfaction surveys are held on a constant basis. PTTGC representatives regularly make site visits to customers to see its products in use, while also taking notes of any customer concerns and opinions on the challenges each customer has recently been through.
  • 3. Business Partners
    PTTGC operates within the framework of maintaining a competitive environment under Business Code of Conduct. Trade contracts are honored, and trust is maintained with PTTGC's customers. When dealing with trade partners, PTTGC operates in a transparent, uniform, and fair manner. PTTGC aims to conduct itself according to all contracts and agreements in an ethical manner, strictly following all policies and guidelines related to Business Code of Conduct. PTTGC emphasizes the importance of our Supplier Relationship Management (SRM) and so arranges a series of activities to help support Company partnerships. Activities were held to communicate PTTGC's aims to compete on a more international level, particularly with concepts such as Green Procurement. Green Procurement will help PTTGC work in a more sustainable manner. The cooperation of PTTGC's partners has been asked so that we can all move together in the spirit of maintaining a Green network. Furthermore, similar efforts are being made with anti-graft concepts, with a push being made to operate in a fair and transparent manner. This includes the prohibition of the payment or receipt of goods or services that might be considered dishonest in business dealings. PTTGC policies are clear on the stance taken against corrupt practices. The acceptance or payment of bribes is expressly forbidden both within PTTGC as well as within its business partners. Business partners are required to sign a pledge to condemn any corrupt business practices. Furthermore, business partners are made aware of PTTGC's policy of prohibiting inappropriate gifting, including allowing its staff members to receive special benefits or incentives. Our business partners are required to share the same vision in terms of safety, health, and environmental compliance. This mentality is to be extended as well to all laws and regulations regarding human rights and labor laws, to help improve the quality of life in communities and society, as well as the quality of the environment.
  • 4. Business Competitors
    PTTGC has a policy to operate in an upright and transparent manner in dealings with its business competitors. The framework of this policy has been shaped by related laws and regulations, as well as concepts related to Business Code of Conduct. The collection of a business competitor's inside information is expressly prohibited. The policy further prohibits the infringement of intellectual property rights and trade secrets. Furthermore, it includes provisions that prohibit the slandering of business competitors.
  • 5. Creditors
    PTTGC makes sure to strictly comply with all terms of any loan agreement it enters into in a responsible and transparent manner. PTTGC will not conceal any information or hide any facts that might possibly result in the realization of losses for its creditors. In the event that PTTGC is unable to meet any of the criteria it agreed to, it will make immediate notification to that particular creditor to allow for a course of action to be taken to rectify the situation. There will be full disclosure of this type of information to all stakeholders, in particular bondholders and other creditors. The issuing of any debentures will be made strictly according to law and any notices made by the Securities and Exchange Commission, as well as the policies and resolutions agreed upon at the Shareholders Meeting. Furthermore, measures are in place in case any stakeholder might realize losses from the actions of PTTGC's failure to act totally in compliance with the agreed-upon provisions.
  • 6. Public Sector
    PTTGC places importance on its relationship with the public sector. As one of PTTGC's stakeholder groups, guidelines on contact with the public sector, both foreign and domestic, have been laid out in the Good Corporate Governance Handbook. These guidelines assist PTTGC to avoid acting unethically in its dealings with the public sector. Constant cooperation and information-sharing exists between PTTGC and the public sector in an appropriate and transparent manner. Staff members adhere to all related laws and regulations, helping to build up a strong long-term relationship with various government agencies, including other members of the public sector such as the academic community.
  • 7. Employees
    PTTGC places importance on its relationship with all employees and values them as important assets of PTTGC. It is committed to ensuring that employees feel pride and have confidence in their relationship with the organization. Professional development is provided for all employees, helping to continuously and sustainably increase their productivity.
  • 8. Community, Society and the Environment
    PTTGC conducts its business in an ethical manner in its dealings with members of the community, society-at-large and the environment. Careful attention is given to ensuring that they are not adversely affected by PTTGC operations. Information concerning these operations is shared fully and accurately with surrounding communities. Suggestions and options from these communities are welcomed to help create a sustainable relationship. Furthermore, efforts are made to help with the development of communities and society. PTTGC has set its Core Values as "GC-SPIRIT" with the letter "R" representing "Responsibility for Society". PTTGC's operations plan outlines a strategic vision for PTTGC to focus on social development and investment in communities so that they are impacted only minimally from PTTGC operations. Sustainable development concepts have been implemented according to various international standards such as DJSI, UNGC, GRI, as well as ISO26000 as detailed in Sustainable Development.

For more details please go to page 157, Annual Report 2013