THE GOOD CORPORATE GOVERNANCE PRINCIPLES ( PDFDrive ) (1).pdf

governance

1. Good People • Good Products • Good Society
คนดี • สินค้าดี • สังคมดี
THE GOOD
CORPORATE
GOVERNANCE
PRINCIPLES
หลักการกำ�กับดูแลกิจการที่ดี
より良いコーポレート・ガバナンスへの原則
บริษัท ธนูลักษณ์ จำ�กัด (มหาชน)
THANULUX PUBLIC COMPANY LIMITED
บริษัท ธนูลักษณ์ จำ�กัด (มหาชน)
129/1 ถ.ช่องนนทรี แขวงช่องนนทรี เขตยานนาวา กรุงเทพฯ 10120
โทร. 02-295-0911-19, 02-295-4171-80 แฟกซ์. 02-294-5101, 02-294-5918 http://www.thanulux.com

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• Corporate Governance Policies 40
• The Principles of Corporate Governance 42
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• Code of Conduct for Company Directors, 70
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39. 37
..............................................................................................................

40. 38

41. The Good Corporate
Governance Principles
The Board of Directors developed the Good Corporate
Governance Principles of the Company in accordance
with the “Principles of Good Corporate Governance
for Listed Companies 2012”. This harmonizes with the
ASEAN Corporate Governance Scorecard (ASEAN CG
Scorecard), consisting of :
1. Corporate Governance Policies
2. The Principles of Corporate Governance
are divided into 5 categories
3. Business Ethics
4. Code of Conduct for Company Directors,
Executives and Employees
39
........................................................................................................

42. The Board of Directors is confident that
a proper, transparent and accountable
governance system is in place along with
checks and balances and an internal control
system that is sufficient and appropriate.
Alongside these mechanisms are due respect
for the rights and equality of shareholders
and accountability to all stakeholders. These
key factors contribute to the enhancement
of the organization’s immunity and promotion
of a balanced and sustainable growth in the
long-term.

................................................................................................
Corporate
Governance Policies
40

43. In pursuance thereof, the Board of Directors thereby prescribed
the following corporate governance policies as a practice guideline
for the Company Directors, Executives and all employees.
1. Company Directors, Executives and all employees are fully
committed to the application of corporate governance principles,
business ethics and Codes of Conduct for Company Directors,
Executives and employees to Company operations.
2. Company Directors, Executives and all employees must perform
their duties responsibly, prudently, earnestly and honestly in
accordance with the relevant laws, Company Articles and Notifications.
3. Actions shall be taken to ensure that the Company management
structure contains clear prescriptions of powers, duties and
responsibilities of each Company Committees and Executives.
4. An internal control system shall be installed and risks management
shall be managed at suitable levels, including an accounting system
and financial statement which are accurate and reliable.
5. Information shall be disclosed in a sufficient, reliable and timely
manner to the extent that the legitimate interests of the Company
are not prejudiced.
6. The ownership rights of shareholders shall be appreciated and
respected. Shareholders shall be treated equitably.
7. Undertakings shall have regard to the responsibilities of shareholders,
stakeholders, communities, society and the environment.
8. There shall be a determination to strive towards business excellence
with commitment to the creation of customer satisfaction by receiving
comments and self-assessments in order to enhance management
capabilities and continually promote productive creativity.
9. Virtue, ethics and good values shall be instilled. Employees shall
be treated fairly with a commitment to develop and enhance the
capabilities of personnel.
10. Dishonest conduct, corruption and intellectual property violations
shall be suppressed. Laws and human rights shall be respected.
11. Conflict of interests shall be dealt with prudently and reasonably
with due regard for the Company’s interests.
41

44. The Principles of Corporate
Governance are divided
into 5 categories
...............................................................................
42

45. 1
....................................................................................................................
Rights of Shareholders
1.1 The Board of Directors appreciates and respects the ownership rights
of shareholders. No actions are taken to violate or infringe the rights
of shareholders. The interests of shareholders are fairly safeguarded
and the exercise of rights by all shareholder groups are supported and
promoted, whether domestic or foreign, major shareholders, minority
shareholders or institutional shareholders, incorporating both the
fundamental rights of shareholders, access rights to information in
a sufficient and timely manner, and the right to attend shareholders’
meetings to determine directions for operations and decisions on
matters having a significant impact on the Company.
1.2 The Board of Directors provides opportunities for shareholders to
propose items to be included in the meeting agenda and submit questions
prior to the shareholders’ meeting day. Rules for the proposal of agenda item
and advance submission of questions have been published in the Company website.
1.3 The Board of Directors ensures that information pertaining to the day,
time, venue and agenda of the meeting are provided together with
explanations and reasons supporting each agenda in the meeting notice.
The shareholders’ meeting venue shall be conveniently accessible.
1.4 The Board of Directors has granted shareholders with the authority to approve
the remunerations of Company Directors on a yearly basis as well as to
determine the rules for paying remuneration to each Company Committee.
1.5 The Board of Directors promotes the use of technology in
shareholders’ meetings in order to promote accuracy and speed.
Votes are taken for each item on the agenda. Shareholders are given
the right to elect Company Directors individually and ballot papers

are used and independent overseers of the vote count are engaged.
1.6 The Board of Directors publishes shareholders’ meeting resolutions
along with the voting results for each agenda on the Company
website on the day following the meeting.
1.7
The Board of Directors prepares minutes of the shareholders’ meeting.
The minutes provide an explanation of voting procedures, list of
Company Directors, members of Company Committees, and Executives
present and absent from the meeting, the voting results in each
agenda together with questions and answers. Items which have
not been specified in the meeting notice are not added to the
agenda. The minutes are published on the Company website.
43

46. 2
..............................................................................................................
Equitable Treatment of Shareholders
2.1 The Board of Directors treats all shareholders fairly and equitably.
Shares of the same class carry equal voting rights, i.e. one vote
per share.
2.2 The Board of Directors encourages shareholders who are unable to
attend a meeting in person to grant proxies to attend the meeting
and vote on their behalves. The proxy form used allows
shareholders
to determine voting directions and at least 1 independent
director will
be provided as an alternative for the grant of shareholder’s proxy.
2.3 The Board of Directors provides an opportunity for minority
shareholders to nominate candidates for election to become Company
Directors in the annual general meeting of shareholders.
2.4 The Board of Directors publishes the shareholders’ meeting
notice in both Thai and English on the Company website at
least 30 days in advance of the shareholders’ meeting day.
2.5 The Board of Directors encourages all shareholders to exercise
their shareholders’ rights. Meeting notices as well as supporting
documents are sent to shareholders in advance. An English version
is also prepared for foreign shareholders.
2.6 The Board of Directors pursues a policy to prevent the use of
inside information and has implemented measures to prevent
the exploitation of inside information for wrongful interests of
oneself or of others. Company Directors, Executives and employees
who are in units which expose them to inside information are
prohibited from trading in the Company shares in the one
month period prior to the public disclosure of financial statements.
2.7 The Board of Directors has directed Company Directors and
Executives to declare their interests and the interests of connected
persons, to act prudently in regard to the management of conflicts of
interests and to comply with rules of the Office of the Securities
and Exchange Commission.
44

47. 3.1 The Board of Directors appreciates and respects the rights of
various stakeholders by having regard to rights under the law or
agreement with the Company. Stakeholders are ensured that their
rights are protected and that they are treated fairly and equitably.
A policy has been prescribed as a guideline for the treatment of
each stakeholder group, which has also taken into consideration
the community, society and the environment, to promote sustainable
development, suppress dishonest acts and corruption, avoid intellectual
property infringements, including giving due respect to human rights.
3.2 The Board of Directors supports the corporate social responsibility
reporting which has been an integral part of the Annual Report.
3.3 The Board of Directors provides channels and procedures for
all stakeholder groups to report or file a complaint on any matter

which poses a risk of loss to the Company, the accuracy of
financial statements or an unfair treatment.
3.4 The Board of Directors has prescribed policies or guidelines
for protecting employees or informants of matters which pose a
risk of loss to the Company or an unfair treatment.
3
4
........................................................................................................................
........................................................................................................................
Role of Stakeholders
Disclosure and Transparency
4.1 The Board of Directors oversees that there is proper, transparent
and timely disclosure of significant information in accordance with
the relevant laws and regulations. These disclosures include reports
filed in accordance with accounting periods and reports of events
having an impact on shareholders’ interests, as well as the disclosure
of other information pursuant to the principles of good corporate
governance prescribed by the Stock Exchange of Thailand. Disclosure
is made to the extent that the Company’s legitimate interests are not
prejudiced. Information is published in both Thai and English on the
Company’s website, disclosure channels of the Stock Exchange
of Thailand and other channels which are comprehensively and
equitably accessible.
45

48. 5
..............................................................................................................
Responsibilities of the Board
4.2 The Board of Directors has established units or responsible
persons to perform investor relations functions to communicate
with external persons equitably and fairly.
5.1 The Board of Directors has prescribed a structure for the Board
of Directors comprising of persons having a diverse range of
knowledge, competencies and experiences, without limitation to
gender, and having the qualifications required by law. At least one
Company Director is a Non-Executive Director who has experience
in the Company’s business undertaking. There are also Independent
Directors as required under the Notification of the Office of the
Securities and Exchange Commission.
5.2 The Board of Directors has provided a definition for an Independent
Director which meets the minimum requirements of the Office
of the Securities and Exchange Commission.
5.3 The Board of Directors has appointed Committees to screen
key matters prior to submission to the Board of Directors.
5.4 The Board of Directors has issued a charter for each Company
Committee by prescribing the tenure and scope of powers and
duties to clearly demarcate the roles, duties and responsibilities
of each Company Committee and the management.
5.5 The Board of Directors has a policy which requires Company
Directors and Executives holding directorial positions in other
companies to make a disclosure to the Company Chairman and
Chairman of the Audit Committee.
5.6 The Board of Directors has provided for a Company Secretary to
perform duties prescribed by law and as entrusted. The qualifications
of a Company Secretary should be a person possessing knowledge
of law or accounting, or who has completed training relating to
the performance of company secretarial duties. Continual training
and knowledge development are also continually provided.
5.7 The Board of Directors has prescribed policies for governance,
46

49. business ethics and codes of conduct for Company Directors,
Executives and employees to ensure a harmonized approach.
5.8 The Board of Directors has prescribed a Company vision and
mission so that the Company Directors, Executives and employees
would strive towards the same goal.
5.9 The Board of Directors has a policy of continually promoting and
sponsoring the development of knowledge amongst Company
Directors, Executives and employees.
5.10 The Board of Directors prescribes an annual meeting schedule
in advance every year. The determination of agenda takes into
account the fair interests of shareholders and all stakeholders.
All Company Directors enjoy independence in the expression of
opinions. A Company Director having an interest in an agenda
shall not have the right to vote in such agenda.
5.11 The Board of Directors prescribes a duty for Company Directors
to attend all Board Meetings unless there is a necessary cause.
5.12
The Board of Directors has a policy of encouraging senior
Executives to attend Board Meetings.
5.13 The Board of Directors provides Non-Executive Directors with
opportunities to meet among themselves in the absence of the
management when necessary. The Managing Director shall be
notified of the meeting outcome.
5.14 The Board of Directors has a policy of promoting the Company
Directors’ access to essential additional information from the

Managing Director, Company Secretary or other assigned
Executives within the scope of the set policies. In the event of
necessity, the Board of Directors may obtain independent opinions
from advisors or external professionals on the Company’s expenses.
5.15 The Board of Directors has implemented measures pertaining
to conflicts of interest which are prudent, rational and in compliance
with the rules and regulations of the Office of the Securities and
Exchange Commission and the Stock Exchange of Thailand.
5.16
The Board of Directors prohibits Company Directors and
Executives from trading in Company shares in the 1-month period
prior to the public disclosure of financial statements.
47

50. 5.17 The Board of Directors has directed Company Directors and
Executives as well as their spouses and children who have not
attained legal age to have the duty to disclose shares holdings and
changes in holdings of the Company shares to the Office
of the Securities and Exchange Commission, and to submit a
copy to the Company Secretary for reporting to the Board of
Directors in the subsequent Board Meeting.
5.18 The Board of Directors has directed Company Directors and
Executives to disclose personal interests and interests of connected
persons in accordance with the prescribed rules.
5.19 The Board of Directors has established an internal audit unit as
an internal agency accountable to the Audit Committee.
5.20 The Board of Directors requires an annual assessment of the
Board of Directors’ performance.
5.21 The Board of Directors prepares a report on the responsibilities
of the Board of Directors pertaining to the financial statements
submitted in the Annual Report.
5.22 The Board of Directors oversees and determines the payment
of appropriate remuneration to each committee member pursuant
to the powers, duties and responsibilities and draws comparison
to the operation levels in the same business sector.
5.23 The Board of Directors has prescribed a succession plan for
employees in various positions in view of their advancement
to higher positions.
5.24 The Board of Directors provides an orientation for first term
Company Directors.
5.25 The Board of Directors has established an internal control system
and risk management system.
5.26 The Board of Directors has provided for the monitoring and
assessment of corporate governance by establishing a corporate
governance committee.
48

51. ....................................................................................
Business Ethics
Responsibilities
to Stakeholders1
49

52. 1.1
..............................................................................................................
Shareholders
The Board of Directors performs duties responsibly, prudently,
earnestly and honestly in order to generate good returns to
shareholders on a continual and sustainable basis. In this regard, the
following policies and practice guidelines have been prescribed.
1. The ownership rights of shareholders are equitably and fairly respected.
2. Operations are undertaken in accordance with the principles of good
corporate governance, which will foster the trust and confidence
of shareholders and eventually lead to sustainable growth.
3. The Company’s businesses are continually advanced to ensure
proper returns to shareholders.
4.
Significant information which affects or potentially affects
shareholders’ interests shall be disclosed, whether reports made
pursuant to the accounting period or situation reports, pursuant
to the relevant laws and notifications. However, no action shall be
taken to restrict shareholders’ access to Company information.
5. A report of the Board of Directors’ responsibility for the financial
statements in the Annual Report shall be prepared.
6. Minority shareholders shall be given an opportunity to propose matter
for inclusion in the meeting agenda and/or to nominate persons for
election as Company Directors in the Annual General Meeting of
Shareholders.
7. Shareholders are given an opportunity to submit questions
relevant to the meeting prior to the shareholders’ meeting.
8. Shareholders’ meeting notices in both Thai and English are
published on the Company website at least 30 days prior to
the shareholders’ meeting day as information for shareholders
and to enable the study of information prior to meetings.
9. Shareholders’ meeting shall be facilitated. The date, time, venue
and procedure must not pose an obstacle to the shareholders’
attendance of the meeting. Shareholders who are not able to attend
in person must have the opportunity to grant a proxy to other
persons to attend the meeting and vote on their behalves.
50

53. 1.2
...................................................................................................................
Customers
10. Conflicts of interests must be dealt with prudently, rationally and
information must be fully disclosed.
11. The Company’s interests and assets shall be safeguarded as a
reasonable person would safeguard his/her property. Wrongful
interests, whether obtained by direct or indirect means, shall be
eliminated.
The Board of Directors realizes that customer satisfaction and
confidence are key factors which contribute to the Company’s
sustainable success. The following policies and guidelines have
been prescribed in this regard:
1. The Company operates the businesses of manufacturing, product
distribution and services which are safe for consumers and
environmentally friendly.
2. Businesses are operated with commitment to develop goods
and services, introduce new innovations and add value to goods
and services in order to continually meet the demands of
customers along with the disclosure of necessary information
for decision-making without concealment or distortion of facts.
3. Businesses are operated in earnest, honest and fair values
and no action is taken that would violate the rights of customers.
The confidentiality of customer trade secrets are maintained and
not exploited for wrongful personal gains or for the gains of others.
4. The Company does not demand, receive or consent to the direct or
indirect receipt of properties or other dishonest benefits from
customers.
5. The Company adheres to trade agreements. In the case where
adherence is not possible, the customer would be notified in
advance in order to jointly find a remedy and prevent loss.
51

54. 6. The Company provides communication channels to enable
customers to file complaints to the Company. Complaints are
processed with care and dealt with fairly.
1.3
..............................................................................................................
Trading Partners
The Board of Directors treats trading partners equitably and takes
into account mutual interests by prescribing the following
policies and guidelines.
1. The Company has a system for screening trading partners in
the value chain who operate businesses in compliance with the
law, safety and occupational hygiene standards, and friendliness
to the environment. Trading partners are treated on the basis of
fair competition, equality and mutual respect.
2. The confidentiality of secrets or communications of trading partners
are maintained and not exploited for wrongful gains of oneself
or of others.
3. Relationships and good understandings are fostered. Knowledge
is exchanged. Developments and value adding to goods and
services are jointly undertaken to promote mutual growth.
4. The Company adheres to trade agreements and makes proper
representations of data. In the event that an agreement cannot
be complied with, the Company will expeditiously engage in
early negotiations with trading partners in order to reach a
mutual remedy and loss prevention solution.
5. The Company does not demand, receive or consent to the receipt
of properties or any other benefits outside trade agreements.
52

55. 1.4
1.5
...................................................................................................................
...................................................................................................................
Competitors
Creditors
The Board of Directors operates businesses in accordance with the
provisions of law. In this regard, the following policies and guidelines
have been prescribed.
1. The Company shall conduct its businesses within the rules of
fair competition with due regard to business ethics and trade
competition laws of various countries in which the Company operates.
2. The Company will not damage the reputation of its trade competitors.
The Board of Directors is committed to undertaking business
operations in a principled and disciplined manner in order to build
the trust of creditors by prescribing the following policies and
guidelines.
1. All creditor groups shall be treated equitably and fairly.
2. Contracts and terms will be strictly adhered to.
3. Operations will be administered to ensure the confidence of
creditors in the Company’s financial standing and credit rating.
4. Financial standings shall be accurately and timely disclosed.
5. In the event of an inability to comply with a particular term, the
creditor will be forthwith notified in advance in order to enable
a joint solution for remedy and loss prevention.
53

56. 1.6
..............................................................................................................
Employees
The Board of Directors regards employees as valuable resources
and a key factor to the Company’s success. The following policies
and guidelines have been prescribed in this regard.
1. Human dignity and fundamental rights of employees are respected
at work. Employee data or confidential information is not disclosed
or transmitted to third parties or unrelated persons.
2. Employees are treated in accordance with the provisions of law,
regulations and articles governing the Company’s operations.
3. Employment equality is promoted. There is no discrimination
on the grounds of gender, skin colour, race, religion, age, disability
or other status that is not directly related to the works.
4. Training and knowledge exchange are sponsored and promoted
to encourage learning and skill development throughout,
strengthen career security and offer opportunities for advancements
pursuant to each person’s potential.
5. Employee participation in the determination of the Company’s
direction and development are promoted.
6. Fair compensation is given as suitable for the knowledge, skill,
duties, responsibilities and performance.
7. Appropriate welfare and benefits are given to employees, e.g.
medical expenses, provident fund and a savings cooperative.
8. Channels are provided for employees to communicate suggestions
and complaints pertaining to work. These suggestions are
considered and remedies will be determined in the interest of
all parties and in view of the creation of good working relations.
9. Facilities necessary for work operations are provided and working
conditions are maintained with due regard to safety and
occupational hygiene as a means of promoting and raising the
quality of lives of employees.
10. Employees of all levels are encouraged to participate in social
responsibility activities.
54

57. 1.7
...................................................................................................................
Community and Society
The Board of Directors operates businesses with due regard for
the duties and responsibilities owed to the nation, community
and society as well as local traditions in order to maintain a
desirable society and participation. In this regard, the following
policies and guidelines have been prescribed.
1. A business which could lead to a deterioration of society shall
not be undertaken and the rights of others in the community
and society shall not be violated.
2. Consciousness of responsibilities towards the community and
society as a whole shall be instilled continuously for the benefit
of the Company and all levels of employees.
3. Measures shall be provided for the prevention and remedy of
impact on the community and society as a consequence of
the Company’s operations.
4. The preservation of local culture and traditions shall be promoted.
5. Cooperation shall be entered into with various agencies for the
development of communities.
6. Public benefit activities shall be sponsored.
7. Incomes shall be generated and the community economy shall
be promoted through employment of community members and
use of community products.
8. Good relations shall be fostered between the Company and the
community and society on the basis of propriety, transparency
and fairness.
55

58. 1.8
..............................................................................................................
Environment
The Board of Directors undertakes businesses with due regard
for responsibilities to the environment. In this regard, the following
policies and guidelines have been prescribed.
1. Businesses shall be undertaken in accordance with laws, regulations
and policies on the environment with due regard for the impact
on natural resources and the environment and regular revisions
and assessments of performance results shall be undertaken.
2. An organizational culture and consciousness of employees
at all levels shall be promoted to encourage cooperation and
responsibility for the efficient and sustainable management of
the environment and utilization of resources.
3. Knowledge promotion and environmental training shall be extended
to employees.
4. Environmental management system shall be promoted, from the
economical use of resources to the sustainable treatment and
rehabilitation, replacement, monitoring and prevention of impact
on natural resources.
5. There is a system for selection of trade partners in the value chain
who undertake businesses in an environmentally friendly manner.
6. Environmentally friendly technology are developed and published.
56

59. 1.9
...................................................................................................................
State Sector
The Board of Directors undertakes businesses in compliance with
the rules and regulations enacted by the State. In this regard, the
following policies and guidelines have been prescribed.
1. Knowledge and understanding of the laws governing operations
are acquired and no activities are undertaken which would be
inconsistent with the law.
2. Proper action shall be taken when conducting transactions with
an official or agency of the State.
3. Good relations are fostered between the Company and the State
sector within suitable bounds.
4. Relevant laws and business traditions are observed in each
country or locality.
57

60. .........................................................................................
Conflict of Interest
Business Ethics
2
58

61. The Board of Directors has a policy for dealing with conflict of
interest. The following guidelines have been prescribed.
1. The administration of conflict of interest or connected transactions
is undertaken prudently, fairly and rationally. There is a transparent
system for approving transactions which primarily takes into
account the Company’s interests. Interested Company Directors
do not have the right to vote and must make a full disclosure
in accordance with the rules of the Office of the Securities and
Exchange Commission and the Stock Exchange of Thailand.
2. The Company’s interests shall be upheld subject to legality. No
action shall be taken that would be a conflict with the Company’s
interests, and no benefits or privileges will be given to any person.
3. Company Directors and Executives must disclose personal
interests and the interests of related persons in accordance with
the prescribed rules.
4. Company Directors, Executives and employees who acquire
inside information are prohibited from trading in Company shares
in the 1-month period prior to public disclosure of financial statements.
5. Company Directors, Executives as well as their spouses and
children who have not yet attained legal age shall have the duty
to report Company securities holdings and changes in such
holdings to the Board of Directors in the subsequent Board Meeting.
6. Company information or secrecy acquired or acknowledged shall
not be disclosed or transmitted to third parties or unrelated persons.
7. Disclosure shall be made by authorized Company employees.
Classes of secrecy may be prescribed in accordance with the
significance of the information. Disclosure shall be made within
the assigned scope of duties and responsibilities.
59

62. ..........................................................................................
Receptions, Receipts
and Grants of Gifts
Business Ethics
3
60

63. The Board of Directors aspires to undertake the Company’s businesses
in line with fair competition. Nevertheless, receptions, receipts and
grants of gifts or attendance at receptions in accordance with traditions
and practices to maintain good relations are necessary and desirable.
In this regard, the following guidelines have been prescribed.
1. No receipts or grants of gifts, tokens or receptions which may influence
a decision shall be made. If there is a necessity to receive or grant a
gift, token or reception in accordance with tradition to a value in
excess of normal circumstances, a report shall be filed with
the respective supervisors.
2. In the case of an assignment or authorization by a supervisor to
assist in an external agency, monies, objects or gifts may be
received in accordance with the generally applicable rules or
standards prescribed by such an agency, e.g. gifts, tokens or
lucky draws.
3. In the case where an agent, contractual party, partner or any
other person wishes to grant a gift, token or reception to the
Company, prior authorization must be obtained from the Company.
4. Expenses pertaining to these matters shall be maintained within
a reasonable budget.
61

64. ................................................................................
Combating Dishonest
Acts Corruption
Business Ethics
4
62

65. The Board of Directors has a policy of compliance with the law
on combating Dishonest Acts Corruption. In this regard, the
following guidelines have been prescribed.
1. A consciousness, value and attitude to comply with laws and
regulations honestly and in good faith shall be instilled in employees.
2. An internal control system which is efficient and effective shall be in
place. There shall be suitable oversight and checks of powers to
prevent employee abuses or involvements in combating
Dishonest Acts Corruption.
3. Company Directors, Executives and employees are prohibited
from performing any act which amounts to a demand or
acceptance of properties or other benefits for oneself or for others
as an inducement to wrongfully perform or refrain from performing

a duty or which could result in a loss of the Company’s
legitimate benefits.
4. Company Directors, Executives and employees are prohibited
from giving or offering to give properties or any other benefits to third
parties to induce such person to unlawfully or wrongfully perform
or refrain from an act.
5. There shall be a financial reporting system which is transparent
and accurate.
6. There shall be a channel for employees and related persons to
provide notices of causes for suspicion with confidence of
protection. Personnel must be appointed to examine all notices
of suspicion given.
63

66. ..............................................................................................
Non-infringement of
Intellectual Property
Business Ethics
5
64

67. The Board of Directors pursues a policy of non-infringement of
intellectual property by prescribing the following guidelines.
1. Business undertakings shall be consistent with laws, regulations
and contractual obligations governing intellectual property rights.
2. Intellectual property works of the Company shall be maintained.
Such intellectual properties shall not be used or allowed to be
used by others without authorization.
3. The intellectual property rights of others shall be respected. The
works of others shall not be infringed or applied to personal use
except where a license has been obtained or a fee paid to
the owner of the work.
4. Intellectual property of creative works produced by employees
shall vest in the Company. Upon termination of employment,
such intellectual property works must be returned to the
Company regardless of the form which it is stored.
65

68. ....................................................................................
Non-violation
of Human Rights
Business Ethics
6
66

69. The Board of Directors respects human rights. In this regard, the
following policies and guidelines have been prescribed.
1. There shall be no activities or support of activities which violate
human rights.
2. Employees are provided with knowledge and understanding
of human rights which are applied to work operations.
3. There are no limitations to independence or differences in ideology,
gender, race, religion, politics or other matters. The expression
of opinions which could cause conflicts or divisions should be
avoided.
4. Channels shall be provided for employees or persons who
believe that their personal rights have been violated or that they
have been treated unfairly to file a complaint with the Company.
Such complaints shall be given attention and processed fairly.
67

70. ..................................................................................................
Safety and
Occupational Hygiene
Business Ethics
7
68

71. The Board of Directors attaches importance to safety and occupational
hygiene. In this regard, the following guidelines have been prescribed.
1. Business undertakings shall comply with laws, regulations and
policies on safety, occupational hygiene and working environment
with due regard to the safety of life and properties as well as to
the impact on the health of employees, trading partners and
stakeholders. Regular monitors and safety assessments must
be conducted.
2. Occupational safety shall be promoted. Work regulations, procedures
and standards are prescribed to ensure working safety consistent
with risks. Working environment and safe work procedures are
improved. Tools and equipment for safety protection are also
provided to employees.
3. Preparations are made for emergency events. An emergency plan
has been devised and regular drills and improvements are carried
out. This is to prevent and minimize any loss to life or properties
of the Company, employees, trading partners and related persons.
4. A safe working culture has been built for the entire organization
to ensure sustainably safe work operations.
69

72. ........................................................................................................
Code of Conduct
for Company Directors,
Executives and Employees
70

73. The Board of Directors appreciates the importance of good
governance. Continual undertakings are implemented to ensure
that Company Directors, Executives and employees are aware
and comply with standards under the framework of the Code of
Conduct and conduct oneself honestly, cautiously and prudently for
the greatest benefit of the Company and all related parties. As a
consequence, the following Code of Conduct has been prescribed.
Company Directors and Executives
1. Duties shall be performed responsibly, prudently, honestly and in
good faith in compliance with the law, Company Articles and
relevant notifications.
2. Duties shall be performed to the utmost of ability in order to generate
the greatest returns to the Company. This includes attendance
at all meetings, except where there is an unavoidable necessity.
3. Duties shall be performed impartially. In a Board Meeting, Company
Directors and Executives shall not vote on matters which they
have interests.
4.
Conflicts of interests shall be administered prudently and
reasonably, in adherence to the Company’s interests, to ensure
transparent management of operations.
5. The acquisition or disposal of assets of the Company, Company
Directors and Executives, including their spouses and children who
have not attained legal age, shall comply with the relevant rules and a
disclosure shall be made to the Board Meeting in the subsequent meeting.
6. Company Directors and Executives are prohibited from buying
or selling Company shares in the 1-month period prior to the
public disclosure of financial statements.
7. Company Directors and Executives must disclose personal interests
and those of related persons in accordance with the prescribed rules.
8.
There shall be regular appraisals of the Board of Directors’
performance every year.
1
........................................................................................................................
Formal Responsibilities
71

74. Employees
1. Employees must support and cooperate in the Company’s activities on
a regular basis. Assigned tasks must be performed to the best of ability in
order to ensure good results and advancement of the Company
and employees.
2. Employees must comply with the relevant law, policies, terms of
employment, regulations and notifications.
3. Persons contacting the Company must be treated courteously,
hospitably and provided with an excellent service in order to preserve
the Company’s image and reputation.
4. Trade secrets must be kept and the Company’s inside information
must not be disclosed to third parties.
5. Loans shall not be obtained from customers, persons connected
to customers or business counterparts of the Company, except for
loans obtained from a bank or financial institution.
6. Lawful orders of supervisors shall be complied.
7. There shall be a commitment to teamwork, mutual assistance, harmony
and mutual respect for the benefit of the Company and employees.
8. Co-workers must be treated generously and with good human
relations. No groundless allegations shall be made against others.
Credit shall not be claimed for the works of others.
9. Duties shall be performed with determination, in earnest and honesty,
and the roles and responsibilities in the Company shall not be abused
for the purpose of acquiring wrongful benefits for oneself or for others.
10. Duties shall be performed responsibly, cautiously and without neglect
in such a manner which could cause a loss to works or properties of
the Company.
11. Employees should conduct themselves as good citizens who comply
with the Constitution and relevant laws. Political rights shall be exercised
appropriately. Employees shall also avoid any involvement in an
activity which is unlawful or inconsistent with public order or the
good morals of the people.
72

75. 2
...................................................................................................................
Maintenance of Company Assets
Company Directors, Executives and employees are under a
duty and responsibility to efficiently maintain Company assets
and assets under the care of the Company. In this regard, the
following guidelines have been prescribed.
1. Assets shall be used for business operations and not used for
personal gains or for the gains or third parties.
2. Interests shall be protected and assets shall be cared to prevent
loss, damage or wrongful use pursuant to the standards of a
reasonable man caring for one’s property. Direct or indirect
wrongful exploitation of benefits shall be eliminated.
3. Sufficient insurance protection from losses shall be obtained
for assets.
4. The use of computers to harass, infringe, spy, corrupt other person’s
personal data or fabricate evidence which could lead to data
theft shall be prohibited. An information security system consistent
with international standards shall be installed.
5. E-mails and internet access provided shall used for business
purposes. They shall be used cautiously and not prejudice the
Company’s reputation.
6. Passwords for access to the Company’s data shall be kept secret
and shall not be disclosed to unauthorized persons.
7. The Company’s intellectual property works shall not be reproduced,
adapted or used for personal benefit or for the benefit of others
without authorization from the Company.
8. The supervisor shall be reported of any finding of rights infringement
or acts which could lead to a rights infringement or any act which

could potentially lead to a dispute relating to the Company’s
intellectual property.
9. The safekeeping of important documents of the Company shall be

overseen to ensure full compliance with the relevant laws and regulations.
Upon the lapse of the safekeeping period, the relevant employee
must oversee that the documents are destroyed by appropriate means.
73

76. A supervisor shall be under a duty to take responsibility and give
advice to subordinates to ensure knowledge and understanding as
well as compliance with the prescribed Code of Conduct. If the Code
of Conduct does not provide for any instance, or if there remains a
question which renders performance not possible or that a decision
cannot be made, the matter shall be consulted with the respectively
higher level superior. In the case of a conflict, the decision of the
Managing Director, Executive Board and Board of Directors shall
be final.
4
..............................................................................................................
Interpretations
The Board of Directors gives employees and stakeholders an
opportunity to give information or file a complaint on a matter which
could constitute a violation of the law, dishonest or wrongful act of an
employee, including irregular behaviour which could cause a problem
or loss to the Company. The Company also receives complaints
on cases where the rights of an employee or stakeholder has been
infringed or where they have been treated unfairly. Suitable channels
and procedures have been provided by the Company in this regard.
The Company will hear and process all complaints impartially,
transparently and fairly. Systematic and just measures for the
protection of complainants are provided. Information provided
by the complainant is kept confidential in the Company.
Measures for the Protection of Complainants
1. A complainant may choose to remain anonymous if he/she deems
that disclosure could lead to insecurity or loss concerns.
2.
The Company will keep relevant information secret and take into account
the safety of the complainant. Measures have been prescribed for the
protection of complainants who are employees, including those who

cooperate in the investigation of facts. These persons will be protected
from unfair treatment as a consequence of the complaint, e.g.

disturbances during work, reassignment or termination of employment.
3
..............................................................................................................
Informants and Complaints
74

77. ..............................................................................................................
..............................................................................................................
75

78. 7676

79. 77
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80. ................................................................................................
78

81. 79

82. ..............................................................................
80

83. 1
...................................................................................................................
81

84. ..............................................................................................................
82

85. ...................................................................................................................
...................................................................................................................
83

86. ..............................................................................................................
84

87. 85

88. 86

89. ..............................................................................
87

90. ..............................................................................................................
88

91. ...................................................................................................................
89

92. 1.3
..............................................................................................................
90

93. 1.4
1.5
...................................................................................................................
...................................................................................................................
91

94. ..............................................................................................................
92

95. ...................................................................................................................
93

96. 1.8
94

97. ...................................................................................................................
95

98. ........................................................
96

99. 97

100. ................................................................................
98

101. 99

102. ...............................................................................
100

103. 101

104. ..............................................................................
102

105. 103

106. ....................................................................................
104

107. 105

108. ...............................................................................
106

109. 107

110. ...................................................................................................
108

111. ...................................................................................................................
109

112. 110

113. ...................................................................................................................
111

114. .............................................................................................................
..............................................................................................................
112

115. .............................................................................................................
..............................................................................................................
113