True Corporation, following its merger, has been officially certified as a member of the Thai Private Sector Collective Action against Corruption (CAC) for 2024. The certification was awarded by the Thai Institute of Directors Association (Thai IOD) and the CAC, based on a rigorous evaluation comprising 71 criteria across seven key areas: 1. Corruption Risk Assessment 2. Internal Control for Corruption Risks 3. Anti-Corruption Principle & Policy, including sponsorship and donations 4. Human Resources Management 5. Effective Communication 6. Raising Concerns and Seeking Guidance and 7. Review, Assess and Improve. In this evaluation, True Corporation was recognized for its strong commitment to translating clear anti-corruption policies into practical action. The company has effectively communicated these policies and engaged employees to actively participate in monitoring and safeguarding the organization. Notably, True excelled in managing, assessing, and addressing corruption risks across all departments to prevent possible fraudulent activities.
Highlighting True Corporation’s “7 Key Policies” in the Fight Against Corruption on the International Anti-Corruption Day
In addition to the company’s Code of Conduct, as well as legal requirements and other regulations prohibiting all forms of corruption, True Corporation has established a dedicated Anti-Corruption Policy. This policy outlines specific guidelines for executives and employees to follow, complementing existing regulations. It comprises seven key aspects, as follows:
- Zero Tolerance to Corruption – True Corporation has declared a clear policy against all forms of corruption, both within and outside the organization. The company actively promotes good values among employees, ensuring they conduct their duties with integrity and transparency.
- Business Courtesies – The company has established guidelines in compliance with legal requirements, such as giving or receiving gifts and hospitality. Gifts or hospitality offered to government officials or state enterprises must not exceed 3,000 THB per person per occasion and must be approved by the proper authority within the company, aligning with its policies and the context of the business interaction.
- Facilitation Payment – Payments to government officials intended to expedite processes are strictly prohibited, as they are considered a form of bribery and are both unethical and illegal.
- Intermediaries – The company conducts risk assessments, management, and establishes clear criteria to ensure that intermediaries, representatives, or business partners comply with laws and align with True Corporation’s values and governance principles.
- Public Officials – The company promotes transparent and accountable work processes when interacting with government officials. It prohibits bribery, ensures strict compliance with laws and regulations, and requires employees to report any misconduct to the ethics oversight body as quickly as possible.
- Sponsorship Donations and Other Contributions – These activities are conducted transparently and include ethical risk assessments. All cases must be reviewed and approved by the Sponsorship and Donation Committee without exception, minimizing or eliminating potential risks.
- Conflict of Interest – The company has implemented clear and systematic policies to address conflicts of interest. Employees are required to report conflicts of interest annually, document findings, and plan appropriate responses. Records are maintained confidentially and in writing to ensure accountability.
From Concept – To Implementation – To Real Results
True Corporation continues to enhance its corporate governance practices with stringent policies and regulations, focusing on translating these policies into concrete actions. A dedicated governance oversight unit has been established within the company to ensure the implementation and enforcement of compliance, as well as to verify that all employees adhere to the highest ethical and legal standards. Additionally, the company fosters a ‘Speak Up’ culture, encouraging employees and external parties to act as vigilant observers and report any incidents that may breach corporate governance principles. Through its Integrity Hotline, True provides a convenient, secure, and confidential platform for inquiries and whistleblowing. Reports made via the hotline are treated with strict confidentiality, ensuring anonymity for whistleblowers. This initiative serves as a key tool in risk management and plays a critical role in raising the organization’s governance standards.
Additionally, examples from other Business Units include efforts to expand the network infrastructure, which requires obtaining permits from government agencies to install mobile signal towers in response to growing demand. To mitigate risks, True Corporation implements proactive planning, establishes clear Service Level Agreements (SLAs) for each process, and allows sufficient time to complete operations. These measures help reduce opportunities for corruption. Financial controls are also in place to prevent bribery of government officials. In the Business Sales-Government Segment, where the company proposes products or participates in bids for government projects, additional controls are enforced. These include verifying sales prices, issuing relevant financial documentation, and requiring supervisors to evaluate potential conflicts of interest among sales personnel. These measures are designed to prevent corruption, minimize opportunities for unrelated charges in sales transactions, and deter practices like kickbacks to government officials.
In the Picture
The Thai Institute of Directors Association (Thai IOD) and the Thai Private Sector Collective Action against Corruption (CAC), represented by Mr. Paitoon Thawephon, a member of the CAC Certification Committee, present a certification plaque to True Corporation Plc. for successfully passing the CAC membership certification for Q1 and Q2 of 2024. The certificate was received by Mr. Chakkrit Urairat, Chief Corporate Affairs Officer of True Corporation Plc., during the CAC Certification Ceremony 2/2024 under the theme “Navigating ESG: The Power of Integrity”. The event was attended by Mrs. Ei Thandar Win, Head of Ethics and Compliance Department, along with the Ethics and Compliance Team, True Corporation, which took place at the Siam Kempinski Hotel Bangkok.
