Governance

Commitment to Sustainable Business Practices

under Good Corporate Governance Principles

Phatra Leasing Public Company Limited recognizes the importance of conducting business sustainably in the long term. The Company is committed to creating a balance between economic growth, social responsibility, and environmental stewardship, which form the essential foundation for delivering sustainable value to all stakeholders.

To achieve this objective, the Company adheres to the principles of Good Corporate Governance, which serve as a vital framework for effective, transparent, and accountable organizational management. The Company’s corporate governance principles encompass every dimension of its operations, such as

Business Ethics and Integrity: The Company promotes and instills a corporate culture that upholds ethics, morality, and integrity in all aspects of business operations, including a strong commitment to anti-corruption in every form.
Social and Environmental Responsibility (Environmental, Social, and Governance - ESG): The Company integrates ESG principles into its strategies and operations, placing emphasis on minimizing environmental impacts, fostering and developing society, and ensuring responsible and transparent management.
Effective Risk Management: The Company has established a comprehensive and effective risk management system to identify, assess, and manage potential risks that may impact business operations and stakeholders.
Transparency and Disclosure: The Company is committed to providing accurate, complete, and timely disclosure of information to all stakeholders, enabling them to make well-informed decisions.
Stakeholders’ Rights: The Company respects and upholds the rights of all stakeholders equally, while also providing channels for free expression of opinions and suggestions.
Roles and Responsibilities of the Board of Directors: The Board of Directors is responsible for overseeing and setting the strategic direction of the organization effectively, maintaining independence, and ensuring accountability to shareholders and all stakeholders.

The Company firmly believes that conducting business in accordance with the principles of Good Corporate Governance is a key factor in building confidence and trust among all stakeholders, while also enhancing competitiveness and driving the Company towards long-term sustainable growth.

The Company is committed to continuously developing and improving its corporate governance processes to align with international standards and best practices, thereby ensuring the Company’s success and sustainability in the future.

In 2024, there were no complaints or violations related to the Company’s Business Code of Conduct.

Risk Management

To ensure good corporate governance and an effective risk management system, the Board of Directors has appointed the Risk Management Committee to establish risk management policies that ensure the Company operates in line with its objectives, while promoting stability, sustainability, transparency, and strengthening stakeholder confidence. The risk management framework covers all dimensions of the Company’s operations, including monitoring and evaluation, to ensure appropriate risk mitigation and prevention of potential impacts.

The Risk Management Committee is responsible for setting policies, standards, and risk control measures, as well as overseeing the risk management system to align with the Company’s strategies, objectives, and business direction. The Committee works in coordination with the Executive Committee and reports to the Board of Directors. The scope of risk management includes key risks such as liquidity risk, rental payment capacity risk, interest rate risk, market and competition risk, residual value risk, and emerging risks (e.g., reputational risk and risks associated with technological changes such as EVs).

The Risk Management also monitors and reviews the adequacy and effectiveness of the overall risk management policies and systems to ensure consistency with the Company’s policies and guidelines, and reports regularly to the Board of Directors to facilitate continuous improvements.

In 2024, the Risk Management Committee monitored and reported on risk management activities to the Board of Directors 4 times.

Value Chain Management for Business Value Creation and Sustainability

Phatra Leasing Public Company Limited recognizes the importance of value chain management in creating value and long-term sustainability across all dimensions of its business. The Company’s value chain is interconnected with diverse stakeholders, from upstream to downstream. Operating with transparency, efficiency, and in alignment with sustainability standards not only strengthens stakeholder trust but also supports the Company’s long-term growth.

The Company places strong emphasis on considering the impacts of its operations at every stage—from selecting business partners who adhere to sustainability practices, managing resources efficiently, to delivering products and services that meet customer needs. These processes are designed to integrate resources and create value throughout every part of the business. Furthermore, the Company is committed to reducing environmental impacts, generating benefits for local communities, and fostering strong collaboration across the value chain to achieve a balance between business success and long-term social and environmental responsibility.

Phatra Leasing’s value chain begins with the procurement process, where the Company prioritizes the selection of partners who comply with Environmental, Social, and Governance (ESG) standards and conduct their businesses responsibly. The Company also carries out continuous monitoring and evaluation of their performance.

In its operations, the Company applies sustainability principles in every stage, focusing on resource efficiency, greenhouse gas reduction, and the adoption of environmentally friendly technologies. At the same time, the Company values employee well-being by creating a safe working environment and continuously developing staff capabilities.

Service delivery represents another critical stage of the value chain. The Company is committed to providing products and services that meet customer needs with transparency, integrity, and adherence to quality standards. Customer satisfaction and trust are fostered through transparent practices, while feedback collection and analysis are conducted to drive continuous improvements in products and services. By doing so, the Company ensures a positive stakeholder experience and strengthens long-term relationships with customers, partners, communities, and other stakeholders.

Commitment to Anti-Corruption (Anti-Corruption Policy)

The Company recognizes the importance of combating corruption. The Board of Directors has therefore established the Anti-Corruption Policy as a framework to guide the Company’s practices in preventing and addressing corruption. The objective of this policy is to ensure that directors, executives, all employees, subsidiaries, joint ventures, entities under the Company’s control, business representatives, and stakeholders are informed, understand, and adhere to the policy in their operations.

The policy also aims to foster an organizational culture that raises awareness of the harmful effects of corruption, instills correct values, and strengthens the confidence of all stakeholders in the Company’s commitment to integrity and transparency.

In 2024, Phatra Leasing Public Company Limited successfully renewed its membership in the Thai Private Sector Collective Action Coalition Against Corruption (CAC) for the third time (2nd renewal). The certification is valid for three years, from September 30, 2024, to September 30, 2027.

To ensure transparency and accountability in business operations, the Company has also established whistleblowing and complaint channels. These channels provide guidelines for stakeholders to raise concerns or report suspected violations of the Anti-Corruption Policy, laws, regulations, or applicable rules. Complaints or reports may be submitted along with relevant evidence and details through the designated channels specified by the Company.

Whistleblowing and Complaint Channels:

The Company provides opportunities for employees and all stakeholders to express their opinions and report any suspected violations of the law, with the objectives of: (1) Fact-finding and investigation, (2) Corrective actions and management improvements, and (3) Development and training. The Company has established the following channels for submitting information, complaints, or whistleblowing reports:

Postal Mail:

To: Audit Committee / Internal Audit Office / Company Secretary
Address:
Phatra Leasing Public Company Limited 252/6 Muang Thai Phatra Complex 1, 29th Floor, Ratchadaphisek Road, HuayKhwang, Bangkok 10320, Thailand

E-mail:

Email: internalaudit@pl.co.th
Email: company_secretary@pl.co.th

In 2024, the Company did not encounter any misconduct, nor did it receive any complaints or whistleblowing reports relating to inappropriate behavior, violations of the Business Code of Conduct, or allegations of fraud and corruption.