Aggregation or Segregation of Management Procedures
The Company has clearly separated the authority to approve Authorization and Procedure Manual in both the Company and its subsidiaries, according to type of business transaction. This was done to spread the authority and responsibilities for making decisions and issuing directives according to individual roles and assignment. This is viewed as guide for managers and employees, and it has been separated according to categories namely: general management, human resources, investments, fnance, manufacturing, purchasing, fxed assets and durable goods, expenses, approving connected transactions, and rules for bank check signing authority. Nevertheless, specifying roles for authorizing and operating should not be in violation of laws, articles of association, shareholders’ resolutions, and any regulations by the Securities and Exchange Commission and the Stock Exchange of Thailand. The Company frequently revises and updates these rules to ensure that they remain relevant and appropriate, and suffciently encompassing for the various businesses and/or shifts to accommodate the announcements of the Stock Exchange of Thailand’s Board of Governors.
In 2010, the Company revised and improved its Authorization and Procedure Manual, and was approved at the Board of Directors meeting held on 1 April, 2010. The Company has publicized the Manual 1/2553 edition to related parties to enforce compliance.
As the Board of Directors encourages good corporate governance, the Board has appointed that the Chairman be a separate individual with the Co-Chief Executive Offcers, and clearly delineating their authority, roles and responsibilities, with the scope of authorization on different issues in accordance to the Authorization and Procedure Manual.
