Fundamentals of Corporate Sustainability

Law & Regulatory Compliance

Usually, the industrial estate business operations are relevant to many laws and regulations because this type of business has the impacts towards the economy, society and environment, both directly and indirectly. The Company and its stakeholders, therefore, have emphasized on the compliance with all aspects of applicable laws and regulations.

The operations that are inconsistent to various laws or regulations of either the Company itself or its suppliers and contractors may lead to Company's financial and reputation damage, the confidence of stakeholders and the acceptance of the neighboring society and communities resulting to the Company’s future operations and growth. Presently, the rules and regulations including laws related to the industrial estate business and related businesses have been changed to become increasingly strict and diversified causing the compliance risk as one of the Enterprise risks required to be prudently managed.

Management Approach

In order for the Company to operate the business lawfully in compliance with various regulations, the Company had formulated the management guidelines based on the risk management process as follows:

1. Risk Identification

Analyze and identify the legal and regulatory compliance risks throughout the business value chain by referring to the laws and regulations of each locality or country where the Company enters into the business.

2. Risk Management

Assess the risks of international standards non-compliance and legal and regulatory non-compliance, and set the measures to manage risks, including assigning the Legal Department and the Government Agency Coordination Department to closely monitor the changes in laws and regulations of each locality. In addition, the Company has communicated with the employees and stakeholders through various channels such as trainings, meetings, e-mails, intranet to encourage the employees and stakeholders to obtain the knowledge and understanding in the changes and to strictly comply.

3. Compliance Monitoring

The executives of all departments are responsible for overseeing the Company's employees and contractors to strictly comply with all respects of the laws and regulations. Also, the performance of statutory and regulatory compliance has been regularly audited and assessed.

4. Communication and Reporting

The Legal Department is responsible for compiling violation cases and results of the performance of statutory and regulatory compliance, as well as, reporting to the management team, Corporate Governance Committee, Risk Management Committee, and the Board of Directors, respectively, for consideration and determination of the better governance and compliance mechanism and disclosing the results of performance in the Annual Sustainability Report.


In 2021, the Risk Management Committee identified the risk arising from changes in environmental laws and regulations as a corporate risk. The Company has assigned a unit to be directly responsible for this matter, as well as developed the risk mitigation plan and determined risk appetite to closely monitor and evaluate the risk. This effort has been made because of many newly-enacted environmental laws and changes in international multilateral environmental agreements in recent year, which may affect clients in the industrial estates that are engaged in export activities.

In 2021, the Company had no incidents of non-compliance with laws related to the industrial estate business and no incidents of non-compliance with economic, social, and environmental laws by employees, suppliers, and contractors. The Company continued to abide by laws, regulations, and international standards to create confidence among all stakeholders in its ability to conduct responsible and sustainable business. (Disclosure 307-1, 419-1)

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