Full Report on the Compliance
to Good Governance Principles

Policy of Corporate Governance

Good corporate governance is a key factor in business management which indicates that the company has employed efficient, equitable, transparent and verifiable systems for its administration and management in a way that is responsible for society and environment. Apart from fostering the confidence and trust among shareholders, investors, stakeholders and all parties concerned; good corporate governance would also foster a sustainable growth in financial and investment resources of the company, as well as its competitiveness.

Board of Directors has directed the company to operate its business in compliance with good corporate governance criteria defined by the Stock Exchange of Thailand (SET) and the relevant regulations set by Securities and Exchange Commission (SEC) and Capital Market Supervisory Board. The direction of the Board is also consistent with the principles of good corporate governance for listed companies, in accordance with ASEAN Corporate Governance Scorecard (ASEAN CG Scorecard). That this, the company has the Corporate Governance Committee to supervise the operation to maintain its standards comparable to international level at all time, adopt an efficient management system, ensure a sustainable growth, and encourage the enhancement of the operation to achieve TTW Vision “To Be Thailand’s Leading Company in Water, Energy and Eco-Friendly Businesses.”

Preparation of Corporate Governance Policy

Board of Directors has prepared a written Corporate Policy, based on the good corporate governance criteria and best practice criteria set by SET, to serve as operational guidelines for executive directors, the management and employees. The Corporate Government Committee shall review corporate governance policy annually with an emphasis on the consideration about the administration and management; policy formulation that takes all stakeholders into account seriously and inclusively; the retention of public confidence; and the improvement of work efficiency on a regular basis with a consideration about environment conservation, efficient utilization of resources, and the promotion of morale, encouragement, safety and hygiene among employees.

In 2016 Board of Directors has revised good governance principles to be consistent with the vision and mission of the company in order to make them applicable as the operational strategy of TTW business and more appropriate for current economic situation. The Board also emphasized the enhancement of work efficiency among subsidiary committees in a way that they would be more independent. To achieve this, the number of independent directors in Nomination and Remuneration Committee has been increased, as shown in the structure and responsibilities of Nomination and Remuneration Committee in Section 5.