Business Ethics and Anti-corruption

Risk

Any actions undertaken by the Company or parties within its business relationships—such as suppliers and contractors—that violate ethical principles, the business code of conduct, or fail to comply with applicable laws and regulations, including involvement in corrupt practices, not only erode stakeholder trust but also directly impact the Company’s operations, reputation, and public image. Such actions represent a significant obstacle to the Company’s sustainable growth and to the economic and social development of the country.

Opportunity

The Company's stability and sustainability can be ensured by operating a business with transparency, ethics, and moral values, considering the impact on all stakeholders, which will gain support from those affected and attract talented individuals, investors, or businesses that share the same values.

Management Approach

The Company is dedicated to conducting its business operations with integrity and responsibility toward its stakeholders. It strongly emphasizes transparency, integrity, and compliance with laws and regulations, alongside adherence to the principles of good corporate governance and the business code of ethics. These guidelines define the scope and standards of behavior that all employees, including the Board of Directors and executives, must follow to align with ethical values.

All executives and employees are obligated to adhere to the Company’s Code of Ethics policy and manual to instill values of morality and accountability in the organizational culture. It is important for each executive and employee to behave with civility and consciousness, to consider the benefits and impacts of their actions on the Company’s stakeholders impartially and fairly, to conduct business with responsibility, and to establish a robust work system that prevents corruption through an internal audit system.

The Company has announced policies and guidelines that are more suitable for the current business environment. These policies comply with generally accepted criteria and regulations, promoting and supporting ethical business operations. Additionally, the Company has published its manuals for Good Corporate Governance and a Code of Conduct along with other policies, on its website and intranet. This enables all members of the organization, including the Board of Directors, executives, and employees of the Company and its subsidiaries, to access and use them as guidelines for operations. Further to this, the Company has established AMATA’s Supplier Code of Conduct to ensure that its suppliers operate in accordance with the Company’s practices and standards. The Code encompasses key areas such as ethical conduct, legal compliance, anti-corruption, human rights, safety, and social and environmental responsibility. The Company publicly discloses the Supplier Code of Conduct on its website and requires suppliers to acknowledge and sign their commitment to adhering to these practices.

See more details about our Business Ethics and Anti-Corruption Policy

Performance

The Company is committed to promoting knowledge and understanding of business ethics and anti-corruption policies and guidelines among its employees and suppliers through various activities and communication channels. The operating performance in 2024 is as follows:

1. The Company conducted training on good corporate governance and anti-corruption to reinforce knowledge and understanding among current employees of the AMATA Group.

A total of 164 employees participated, accounting for 53.07% of the total employees. In addition, the Company requires all employees to take an annual test to assess their understanding of good corporate governance and business ethics, with a passing score of over 80%. In 2024, 100% of employees completed an online test, and all of them scored above 80%.

2. The Company organized a training course on good corporate governance and anti-corruption

for 20 new employees, accounting for 51.3% of all new employees to ensure that they have a correct understanding of business ethics, policies, measures, and procedures. For those who have not yet received training will participate in the next session scheduled for 2025.

3. The Company has communicated the "No Gift" policy and guideline for accepting and giving gifts during festivals and other occasions to its executives, employees, subsidiaries, and external parties

to ensure widespread awareness. This initiative aims to ensure that executives and employees behave correctly in accepting and giving gifts, thereby avoiding conflicts of interest and establishing norms for conducting business fairly and transparently with all relevant parties.

4. The Company increased awareness of the Supplier Code of Conduct among its partners to promote business practices

aligned with AMATA's business ethics for sustainable development. In 2024, The Supplier Code of Conduct was sent to 51 critical tier-1 suppliers and 89 new suppliers via email, totaling 140 suppliers, representing 19.13% of the total number of suppliers. The Company received acknowledgment receipt from all 140 suppliers (100%).

5. The Company has renewed its membership certification with the Collective Action Coalition against Corruption in the Private Sector (CAC Certification)

since 30 September 2023 (valid until 30 September 2026). Additionally, the Company encourages its suppliers to participate in or obtain certification under the Thai Private Sector Collective Action Coalition Against Corruption (CAC) initiative. In 2024, the Company extended invitations to 51 critical suppliers, of which 33 suppliers (64.71%) acknowledged receipt of the invitation.

Monitoring and Auditing Business Ethics Compliance

The Company has established a Whistleblowing Policy and safe communication channels that allow employees and stakeholders to report any signs, advice, grievances, or complaints related to misconduct violating laws, rules, regulations, corporate governance principles, code of ethics, or anti-corruption policy. Measures are in place to protect the rights of these individuals. The information provided by whistleblowers will be kept confidential and accessible only to those responsible for investigating the complaints. All complaints will be processed according to the procedures stipulated in the Good Corporate Governance Manual.

Channels to Receive Complaints and Clues

Mr. Anucha Sihanatkathakul
Chairman of the Audit Committee

AMATA Corporation Public Company Limited

2126 Kromadit Building, New Petchburi Road, Huaykwang, Bangkok 10310 Thailand

P.O. Box no.7 Monterey Tower  
Bangkapi, Huai Khwang, Bangkok 10323 Thailand

+66 (02) 792 0004

+66 (087) 131 0007

Mr. Vikrom Kromadit
Chairman of the Board of Directors
& Acting CEO

AMATA Corporation Public Company Limited

2126 Kromadit Building, New Petchburi Road, Huaykwang, Bangkok 10310 Thailand

P.O. Box no.7 Monterey Tower  
Bangkapi, Huai Khwang, Bangkok 10323 Thailand

+66 (02) 792 0004

+66 (087) 131 0007

Mr. Manachai Kaoprapan
Company Secretary

AMATA Corporation Public Company Limited

2126 Kromadit Building, New Petchburi Road, Huaykwang, Bangkok 10310 Thailand

P.O. Box no.7 Monterey Tower  
Bangkapi, Huai Khwang, Bangkok 10323 Thailand

+66 (02) 792 0004

+66 (087) 131 0007

Process of Complaint and Clues Management

1.

Screen facts
and investigate according to Whistleblowing Policy by authorized person.

2.

Proceed further
on a case by case basis, by the executives authorized as investigation committee should any wrongdoing be found.

3.

Provide appropriate remedy

to the affected parties and establish corrective measures to prevent future incidents.

4.

Establish preventive measures and corrective actions

to mitigate the recurrence of incidents. Additionally, it reinforces internal communication to ensure that employees fully understand and strictly adhere to the Company’s policies and the Code of Conduct.

5.

Report the summary of complaints and clues management and results

in every Corporate Governance Committee meeting and to the Board of Directors at least once a year as well as disclosing the information in the annual sustainability report. 


In 2024, the Company did not receive any significant whistleblowing reports or complaints related to corporate governance, violations of the Code of Conduct, or incidents of fraud and corruption. However, four significant complaints related to corporate governance, originally reported in 2023, were carried over into 2024. These concerned potential fraud risks stemming from gaps in the internal control system and employee behavior that could facilitate misconduct. The Company conducted thorough investigations into all four cases, which were completed in 2024. The results were reviewed and approved by the Corporate Governance and Sustainable Development Committee. The findings concluded that no actual fraudulent acts had occurred; rather, the issues were related to internal control weaknesses. Accordingly, the Company has taken corrective actions to enhance internal processes and strengthen control mechanisms. Additionally, employee training has been conducted to reinforce strict compliance with the Company’s Code of Conduct.

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Contact us for more details.

Thailand
+66 38 939 007
Vietnam

+84 251 3991 007 (South)
+84 203 3567 007 (North)

Myanmar

+95 1 230 5627

Laos
+856 21 810007