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Management Approach

PTT Board of Directors gives value to trust, accountable fair operation and anti-corruption as the fundamentals for operating a business. Moreover, PTT is committed in driving the business according to good corporate governance, Ethical Standard and Code of Business Ethics, and PTT Group’s Sustainability Management Framework. In order to continuously improve efficiency, grow as an organization and elevate the corporate governance system, hence directly creating confidence for stakeholders.

PTT has in place a grievance policy to receive, address and resolve grievances in a timely manner, ensuring fairness and transparency as well as confidentiality of the information provider’ grievance provider. Employees who report a grievance can track its status visa the employee relations grievance system. The communication channels through which external parties can submit regarding violations of the Code of Business Ethics including the Customer Relations Center, PTT Call Center, Corporate Communications Function, the Office of the President and Corporate Secretary and the Investor Relations. Additionally, PTT has established “PTT Voice” as an extra channel for stakeholders to communicate in the event that stakeholders witness or encounter any corruption related events in the organization. Reported information are directed to the responsible unit for handling according to the established measures. PTT has such measures for listening to any issues of concerns and whistleblowing relating to corruption in order to formulate appropriate standards and practices. Nonetheless, PTT has implemented measures to protect any stakeholders who raise concerns or provides evidence relating to corruption. 

Code of Conduct

The Corporate Governance, Ethical Standards and Code of Business Ethics Handbook, or CG Handbook, is a set of guidelines defining the standards of good business ethics to which PTT’s employees are required to adhere. The CG Handbook covers good corporate governance practices and provides clear explanations of shareholders’ rights, responsibility to stakeholders, and transparent disclosure of information and responsibilities of the Board of Directors, including guidelines for the Business Code of Conduct and Ethics. It extends to cover legal compliance; international human rights principles; political contributions; interests and conflicts of interest; confidentiality and use of insider information; treatment of customers and consumers; treatment of creditors; procurement and treatment of suppliers; community, social and environmental responsibility; treatment of employees; treatment of creditors; internal controls and auditing; receiving and offering customary gifts, assets, or other benefits; safety, health and the environment; intellectual property and use of information technology; and grievances related to corporate governance. Currently, PTT revised the CG Handbook to include an additional requirement on insider trading, money-laundering, and gift giving in compliance with the No Gift Policy. All Board of Directors, executives and  employees must sign an acknowledgment of the CG Handbook in order to demonstrate a commitment to embracing and applying best practices. In this way, the CG Handbook acts as a disciplinary guideline for all employees to strictly adhere to.

The  Corporate Governance Committee assumes the responsibility of promoting and screening business conduct related to corporate governance, in order for PTT to communicate the importance of operating according to good governance principles across the organization. The Committee established the Corporate Governance Working Group, headed by the executive vice president, to develop the annual action plan on governance and anti-corruption for approval by the Corporate Governance Committee and PTT Board of Directors, following which relevant functions will implement the action plans. They undertakes the responsibility of adhering to the policy considerations, and organizing different activities targeted at instilling a sense of responsibility on corporate governance to the Board of Directors, management, employees and other relevant individuals.  Examples of activities include the CG E-Learning System, CG Camp, Thai Clean Hearts Club , CG Tips and CG Comics via E-mail, and CG Intranet within the PTT Intranet. These learning channels allow for greater reach in communication to employees in all operational areas, enabling them to learn about corporate governance principles and business ethics in a comprehensive manner through various scenarios. This not only builds greater awareness of business ethics in operations, but also provides employees with opportunities to apply the knowledge they learned in real-life, as appropriate to their work. Employees are assessed annually on their level of CG understanding, and the Code of Business Ethics is also included as a required employee competency for career advancement in annual performance assessments.



PTT and PTT Group has made  implementation of the Anti-Corruption Policy clear. This also includes the No Gift Policy. System, operating mechanisms and measures to manage employees has been developed to create an environment that does not tolerate any form of corruption and operates ethically and fairly. PTT aims to fabricate awareness for all Board members, executives and employees continuously. Hence, PTT’s Anti- Corruption Policy   requires responsibility to be clearly designated in order to implement anti-corruption measures as follows: 

  • Audit Committee, responsible for internal control, financial report preparation and other processes related to anti-corruption measures, as well as implementation of the anti-corruption measure, and internal control and audit, to ensure that the measures are adequate and effective. The Audit Committee reports results of audit reports on anti-corruption measures regularly to the PTT Board of Directors, and helps to advise the Board of Directors and management.
  • Corporate Governance Committee, responsible for establishing and reviewing anti-corruption policy, recommending guidelines for monitoring and evaluation performance on anti-corruption practices
  • Enterprise Risk Management Committee is responsible for the governance and support of anti-corruption risk management by assessing corruption risks and reviewing anti-corruption measures as appropriate.
In addition, PTT is part of the Private Sector Collective Action Coalition against Corruption (CAC) for the second consecutive year. PTT became a member of CAC in 2014, signifying that PTT’s transparent, accountable and commitment towards anti-corruption operations has been accepted by an external organization.
It is not PTT’s policy to provide financial support to any political party. PTT is transparent in providing charitable donations and sponsorships, as stipulated in its anti-corruption measures covering the formulation and review of anti-corruption policies, internal audit reporting, relevant performance reviews, corruption risk assessments and appropriate reviews of anti-corruption measures. PTT actively communicates with stakeholder groups in order to prevent potential incidents of corruption in the organization and to build trust amongst external parties who can be confident in the organization’s reputation for transparency.



PTT maintains transparency in every aspect of its operations. Regarding financial aspects, PTT reports its financial performance in the Annual Report and Annual Information Registration Statement (Form 56-1), which is required to be submitted to the Securities and Exchange Commission (SEC) on a yearly basis. In addition, to evaluate employee compensation, PTT defines the compensation criteria for employees, top management and the Board of Directors, which are published in the Annual Report. For internal control, PTT conducts Control Self-Assessment (CSA). In addition, performance is reported through the Sustainability Report and Annual Report, which are verified by an external organization. These practices reflect PTT’s good corporate governance and transparency.

PTT requests that all employees disclose any conflict of interests through an annual conflict of interest report, and notify suspected cases to their supervisors and to the Corporate Governance Function according to principles of transparency and business ethics on conflicts of interest.

Nonetheless, PTT has incorporated technology to assist the assessment of transparency and conflict of interest. The developed system is known as the Continuous Control Monitoring and Auditing System (CCMS). This system will report supervisors in the event that a connection is identified between partners and employees according to the conditions inputted. Supervisors will then review, confirm and manage situations accordingly.  






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