Home / Sustainability / 2017 Sustainability Report / Creating and Sharing the Value of Growth for a Sustainable Future Governance, Risk and Compliance
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ThaiBev prizes integrity, accountability, transparency, and fairness, abiding by its Business Codes of Conduct. Corporate governance is one of the key factors that improve organizational efficiency involving the relations between executives, board members, management, staff, and other stakeholders. Corporate governance creates important structures acting as mechanisms to determine business objectives, to determine the methods for achieving those objectives, and to monitor operating results. Consequently, the Company emphasizes principles of good corporate governance and appropriate risk management plans following sustainable development guidelines.

Good corporate governance is an internationally recognized approach to organizational management. Consistent with the Company’s Business Codes of Conduct, good corporate governance brings about fairness and transparency, which leads to trust among shareholders and all stakeholders. Moreover, it also enables the Company to achieve sustainable growth.

The Company’s Good Corporate Governance
With commitment and determination, ThaiBev enacts good corporate governance in tandem with an efficient, transparent, and accountable system of management. That is to say, the Company not only abides by laws and regulations, but also aims to be a role model in professionalism in doing business, prioritizing transparency and good corporate governance in order to boost confidence among shareholders, investors, staff, customers, and all stakeholders.

Furthermore, the Company has detailed its good corporate governance in the 2017 Annual Report, which explains the structures and processes of revealing information regarding good corporate governance. The Report also reveals operating results and spells out guidelines for developing organizational sustainability in the relations between board members, executives, and shareholders of the Company, for competitiveness. The Company also prioritizes business capacity building for customers, in order to foster stable and sustainable growth, and to increase value for shareholders in the long term while keeping in mind all stakeholders, both inside and outside the organization.

The Company routinely organizes training in legal issues and relevant regulations pertaining to the Singapore Exchange. Every year, the corporate governance unit under the Company’s Office of the Secretary organizes an information session for board members, management, and staff from relevant units in the ThaiBev Group. And whenever there is a relevant change in laws and regulations, the unit will inform the Company in the board meeting, in the executive committee meeting, or via email, depending on the case.

Beside these measures, ThaiBev has set up a channel for filing complaints, so as to underscore the importance of taking to heart complaints from board members, management, and Company staff. In 2017, no significant conflicts have been found, and no significant complaints filed.

Business Code of Conduct
Business ethics are a key part of enabling business growth, stability, sustainability, and acceptance from society. Consequently, ThaiBev has established its Business Codes of Conduct with the intention of emphasizing integrity, legal compliance, and the observance of morality and ethics, as stipulated by ThaiBev’s Codes. The executives, managers, and employees all have the responsibility to adhere to our Codes of Conduct, so that the Company achieves its objective in upholding ethical conduct and continuing to maintain its ethical standards.

ThaiBev has organized training workshops on the Business Codes of Conduct during new employee orientation. Through the website: sustainability.thaibev.com, every employee is encouraged to understand the Codes’ content and meaning more thoroughly. Every employee is also required to accept and strictly adhere to the moral and ethical values espoused in the Codes. If all personnel involved in all parts of the Company conduct themselves with integrity and do their work under the framework of good governance, ThaiBev will be able to uphold its responsibility toward society and all stakeholders.

Recognizing the importance of transparency and morality in business, ThaiBev adheres to the framework of good corporate governance, under the principles of justice, ethics, and compliance with the Business Codes of Conduct, while striving for the highest benefits for all stakeholders. With this in mind, ThaiBev’s anti-corruption policy sets into motion practices to protect against corruption, and serves as a guideline for promoting business sustainability and stability in the future. The President and CEO has the duty to monitor and implement an efficient anti-corruption system, report to the Chair of the Board of Directors and the Audit Committee, and review the policy to be up-to-date and responsive to changes in business, regulations, standards, and laws.

Furthermore, the Company also assigns high-level executives the duty of creating an understanding of policy compliance among Board members, supervisors, and employees, encouraging them to be vigilant and proactive in fighting corruption. Should a corrupt activity be witnessed, the witness is supposed to report it to their supervisor. Or should the wrongdoer(s) be found guilty, they will be punished according to the Company’s rules and subsequently prosecuted under the law.

Complaint Handling
ThaiBev has a policy of complaint handling wherein all employees are encouraged to report suspicious activity if they witness actions that may consider wrongdoing. The Company, in turn, is charged with enacting punitive measures against such wrongdoing in a robust manner, and the reporting employee will be free from any blame or repercussions if the complaint is filed in good conscience. There is, furthermore, another channel for filing complaints on the website www.thaibev.com for stakeholders of all types.

The policy of complaint handling aims to address the complaints and take action against the suspect(s) expediently and appropriately. This policy applies to all levels of the organization, from executives to employees. The Company is ready and willing to protect employees who file plausible complaints, even if they turn out to result from a misunderstanding. Furthermore, the Company will take appropriate measures to protect executives and employees from harm and threat to personal safety resulting from filing the complaint.

Breaching of the Regulations and the Law
ThaiBev requires that all employees will comply with organizational rules and regulations upholding to company’s Code of Conducts and laws of the countries that ThaiBev operates in. Any breach of the applicable regulations in ThaiBev’s operations will be decisively put to an immediate end and appropriate measures will be applied.

In 2017, some minor cases were reported. Breaches are categorized by the monetary values of the action. Major cases involve monetary values of 300,000 baht or more and minor cases involve less than 300,000 baht.


  • The Company provides orientation to new employees and executives.

  • The Company provides online training courses.

  • The Company pays attention to communicating and understanding the business ethics to employees and executives.

  • The Company strives to communicate, understand and determine its employees and executives to follow ThaiBev’s code of conduct.

  • If the Company finds any frauds, the Company will proceed the investigation immediately.

  • The Company executes internal audit processes in the organization periodically.

2017 Sustainability