The Company procures products and services from suppliers and contractors for the main activities of industrial estate business operations and the work that supports the management of industrial estates. As a result, the quality of products and work of suppliers and contractors have a direct impact on the Company and its stakeholders, both positively and negatively. Suppliers and contractors with substandard performance or high ESG risks are likely to cause non-compliance with laws and regulations. They may also create negative social and environmental impacts, such as poor waste management, and risks to the safety of people and property. Furthermore, without a good audit process, the Company's suppliers and contractors may contribute to labor and human rights violations, which can create risks to the Company's reputation and credibility beyond the direct economic impact on the Company from the quality of work and delivery time.
Effective supplier and contractor management will help the Company reduce risks and social and environmental impacts in its supply chain, as well as the impacts on surrounding communities of the industrial estate, both in the short and long term. Additionally, it will increase the quality and efficiency of its work, leading to greater customer satisfaction with the Company's products and services. Screening and developing high-quality suppliers and contractors will help elevate the standard of business partners, supporting the Company's business expansion for long-term mutual growth.