Code of Ethics of the Board of Directors Ethics of Directors

Code of Ethics of the Board of Directors of CH. Karnchang Public Company Limited

The Board of Directors is responsible for administrative affairs in the capacity as shareholders’ representative, with an essential duty to make decisions relating to key policies and strategies of the business, and to ensure that management complies with specified policies for the utmost benefit of shareholders, performs duties with accountability, due care and integrity, and complies with laws, objectives, articles of association of the Company for the purpose of legitimate and fair administration of the Company with success and sustainable prosperity in order to result in appropriate balance, through practical guidelines in six chapters as follows:

Chapter 1 Desirable Behavior to the Company/Shareholders
Chapter 2 Desirable Behavior to Management and Staff
Chapter 3 Desirable Behavior to Customers
Chapter 4 Desirable Behavior to Traders/Creditors/Debtors
Chapter 5 Desirable Behavior to Competitors
Chapter 6 Desirable Behavior to Society and Public
Chapter 7 Desirable Behavior to Communities
Chapter 8 Desirable Behavior to Environment

Chapter 1 Desirable Behavior to the Company/Shareholders

  1. Perform duties with accountability, due care, honesty, integrity and fairness by taking into account major and minor shareholders and benefits of related persons as a whole;
  2. Manage the Company’s business to ensure prosperity, stability and good returns to shareholders;
  3. Monitor to ensure that none of the Company’s assets shall be lost in value or wasted, provide for efficient internal control system and risk management system;
  4. Allow shareholders to participate in managing business and provide opinions relating to business operations based on equitable treatment towards shareholders;
  5. Disclose actual, complete, adequate, up-to-date financial and non-financial data and information relating to the Company’s business and operational results on a regular basis, and demonstrate the status of operations and real financial position of the Company;
  6. Provide the Company’s data, news and information which are correct and sufficient for all shareholders’ decision-making on an equal basis and in due course;
  7. Monitor to ensure that directors, management and staff shall not seek personal gain and others by providing the Company’s information which has not been yet disclosed to the public, disclosing the Company’s confidential information to any third party and/or taking any act in a manner which may give rise to a conflict of interest with the Company;
  8. While holding office with duties and responsibilities towards the Company, refrain from engaging in any business, directly or indirectly, which may give rise to a conflict of interest with the Company.

Chapter 2 Desirable Behavior to Management and Staff

  1. Comply with the scope of the code of ethics by acting as a role model for management and staff;
  2. Promote and support management and staff to understand and behave in compliance with the scope of the code of ethics on an enterprise-wide basis;
  3. Treat staff with polite manners and respect their individuality and human dignity;
  4. Realize staff’s significance and ensure achievement under set goals, nominate and engage personnel with knowledge, ability and experience to perform works which meet the Company’s requirements and growth by regularly organizing staff knowledge development programs to enhance their competency;
  5. Treat staff equally and fairly by providing them with appropriate and fair returns and welfares, such as, provident fund, medical treatment rights in medical institutes designated by the Company, staff loan welfare;
  6. Give priority to personnel development by setting out clear plan to develop internal personnel, support staff at all levels from staff to high ranking executives to attend training to ensure their theoretical and practical knowledge and ability in order to have efficient working skills, together with employment subject to fair and suitable conditions according to market condition in compliance with labor laws;
  7. Provide fair and appropriate benefits to staff according to their respective work competency, by implementing staff performance evaluation system as basis for development of competency in support of consideration of staff merits and incentives for staff development;
  8. Create a participatory and teamwork environment by allowing staff to express their opinions on work performance;
  9. Create a work environment on the basis of occupational health and safety for life and property of staff and the Company;
  10. Regularly provide information and updates relating to the Company’s operations and status to staff for acknowledgement;
  11. Avoid taking any unfair acts which may affect job security of staff or threaten and put pressure on staff’s mental state.

Chapter 3 Desirable Behavior to Customers

  1. Maintain the optimism and give priority to customers, treat customers willingly, actively, politely, keeps customers’ confidential information from misuse for personal gain or others, as well as treat all customers equally without discrimination;
  2. Regularly support the value added technology and innovation development and keep costs to a minimum but always maintain high standard and quality of services in competition with leading business organizations to customers’ maximum satisfaction;
  3. Deliver quality goods/works at fair price in accordance with customers’ agreements, without profiteering;
  4. Provide accurate, adequate and up-to-date information, news, and suggestions relating to goods and services to customers;
  5. Deliver works and provide warranty subject to terms and conditions within appropriate period of time to customers’ satisfaction;
  6. Provide a secure system for storage of customers’ information, set out measures for keeping customers’ information confidential, refrain from providing any information without customer’s consent and refrain from misuse of customers’ information for personal gain or related persons;
  7. Strictly comply with various conditions towards customers, and promptly give notice to customers regarding any failure to comply with such conditions in order to jointly consider finding a solution to such problem;
  8. Provide a system/procedure for customers to submit any complaint about quality, quantity, safety of goods and services, including turnaround time for delivery, and make best efforts to ensure rapid turnaround time to customers.

Chapter 4 Desirable Behavior to Traders/Creditors/Debtors

  1. Treat every trader and/or creditor/debtor equally and fairly, taking into account the Company’s optimum benefits and based on fair returns for both parties;
  2. Ensure competition on the basis of equal information access, without preventing any trader from participating in business competition;
  3. Prepare appropriate and standard contracts;
  4. Arrange for management and monitoring systems to ensure full compliance with contracts, and internal control system to prevent any fraud and misconduct in every step of the procurement procedures;
  5. Make payments to traders on time in accordance with terms of payment as mutually agreed;
  6. Refrain from seeking any trader’s secret by any dishonest or improper means, such as, bribing any director and staff of competitors;
  7. Refrain from making any negative accusation against traders without actual information;
  8. Avoid any situation which may cause a conflict of interest, as well as comply with contractual obligations;
  9. Provide actual information and accurate report, and negotiate and resolve problems, taking into consideration the business relationship;
  10. Strictly comply with various conditions towards traders and/or creditors, and promptly give prior notice regarding any failure to comply with such conditions in order to jointly consider finding a solution to such problem;
  11. Utilize copyrighted goods and services and refrain from supporting any goods or any actions in violation of intellectual property.

Chapter 5 Desirable Behavior to Competitors

  1. Set out a free trading policy and believe that competition is a positive factor to promote development of service standard and innovation to be offered to customers;
  2. Comply with the fair competition framework;
  3. Refrain from discrediting any trading competitor’s reputation by means of negative accusation without actual information;
  4. Refrain from accessing any competitor’s confidential information through any dishonest or other inappropriate methods;
  5. Refrain from violating intellectual property/copyright.

Chapter 6 Desirable Behavior to Society and Public

  1. Take into account the public interest and refrain from taking any acts which may cause damage to the country’s reputation, natural resources, environment and public interest;
  2. Promote and instill into staff at all levels the corporate social responsibility;
  3. Refrain from assisting, supporting or allowing to be instrumental in any avoidance of law compliance;
  4. Support the contribution of certain part of the corporate profits to society and environmental development;
  5. Strictly comply with laws, rules, regulations on the principles of engaging in business in its capacity as a law-abiding citizen;
  6. Sustainably and eco-friendly develop the Company under the green construction concept with corporate social and environmental responsibility which is truly beneficial to Thai society.

Chapter 7 Desirable Behavior to Communities

  1. Consider communities as part of the Company’s care and concern, and thus focus on various activities for improvement of the quality of life and environment as the Company’s contribution to society;
  2. Refrain from taking any act which may cause damage to local customs and traditions;
  3. Regularly participate in meetings, share opinions, and provide cooperation with local agencies for development of livelihood of communities;
  4. Regularly communicate with communities, disseminate and report to all stakeholders on the results of performance with corporate social responsibility;
  5. Establish preventive/remedial measures against environmental and community impact as a result of the Company’s operations.

Chapter 8 Desirable Behavior to Environment

  1. Develop and improve the environmental management system in all of the Company’s activities to continuously minimize pollution and impact on the environment, with clear objectives, goals, action plans and evaluation;
  2. Promote the environment preservation, as well as publicize information and news, and cooperate with staff, customers, government agencies and private entities, including the general public, to promote good image and recognize the Company’s environmental management;
  3. Optimize the utilization of resources, set out energy-saving measures, and support the recycling process;
  4. Rapidly and efficiently respond to any events giving rise to impact on the environment and communities caused by the Company’s operations;
  5. Raise staff’s consciousness and responsibility in relation to environment under the environmental management system as well as campaign conservation and efficient consumption of energy and resources through training and public relations media, such as, internal newsletters, notice board, internal circular letters, in order to regularly keep them updated on knowledge and skills on environment;
  6. Disseminate social and environmental activities to the Company’s staff, shareholders, and concerned parties, as well as publicize such information via the Company’s website and Annual Report.
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