The Company conducts its business in accordance with the principles of corporate governance: with transparency and accountability. It aims to concurrently improve its business and maintain a balance of economic, social and environmental awareness. One of the Company’s pledges is to be a good corporate citizen, which operates sustainably, grows steadily and gains public recognition based on its code of ethics and corporate governance. The Company also strives for healthy returns to shareholders; however, any effects of its operations may have on all stakeholders are always taken into account.
Taking the view that social responsibility is important, the Company has established a CSR policy consisting of the following components:
Guidelines to treat all stakeholders with responsibility are provided in the Company’s code of conduct. Stakeholders include shareholders, employees, customers, trading partners, creditors, competitors, as well as local communities, wider society, the environment and government agencies. The Company’s code of conduct also embraces the principles of free competition, the prevention of conflicts of interest and infringements of intellectual property rights, and anti-corruption. Key policies can be summarized as follows:
The Company aims to operate fairly, honestly and transparently, and with public accountability, as well as disclose material information. It always considers both the benefits and effects that may be experienced by shareholders, customers, trading partners, employees and all stakeholders. The Company considers the right and fair sharing of profit to be crucial.
Corporate social responsibility (CSR)
The Company pursues the CSR policy under the code of ethics to ensure fairness toward all stakeholders. The principles of corporate governance also serve as guidelines for the Company to maintain a balance between its performance and its economic, community, social and environmental awareness, which will lead to the success and sustainability of its business.
The Company recognizes the significance of compliance with applicable laws, rules and regulations, including the code of conduct in accordance with international standards. All of its directors, executives and employees must comply with applicable laws, rules and regulations and avoid being involved in, supporting or otherwise dealing with a breach of law and related regulations.
Responsible use of resources
All of the Company’s directors, executives and employees are encouraged to appropriately, efficiently and sustainably use resources for the utmost benefit. The Company always communicates with all employees and stakeholders to promote and educate about the responsible use of resources for the benefit of the organization, to ensure awareness of resource management is inherent in the Company.
Respect for human rights
The Company recognizes the importance of respect for human rights, and emphasizes the equitable treatment of those within and outside of the Company. Direct or indirect infringements of an individual’s rights or freedoms are prohibited. Respect for and protection of human rights are promoted in combination with measures that have been established in order to prevent the Company’s business from involving the infringement of human rights, e.g. forced labour and child labour. It also stresses the fair and respectful treatment of all stakeholders on the basis of human dignity. Discrimination by origin of birth, race, gender, age, complexion, religion, physical appearance, social status or class, and genealogical history is strongly opposed. Internally, the Company promotes a mechanism for the monitoring of all employees’ compliance with its rules on human rights. Externally, it encourages all joint venture parties, trading partners and stakeholders to follow the principles of preserving human rights in accordance with international standards. For any stakeholders who suffer an infringement of human rights resulting from the Company’s operations, the Company offers compensation worth not lower than the rate imposed by law.
Fair labor practices
The employees’ right to enjoy a working life in a good and respectful environment is highlighted on the Company’s agenda. Employees at all levels are encouraged to treat their colleagues with respect. Taking advantage of other colleagues is ardently discouraged. In relation to labour practices, the Company has a comprehensive policy of human resources management involving recruitment, HR development and training, fair remuneration and welfare benefits. All employees are offered opportunities for career prospects, with training courses provided to employees at all levels with a view to improving their professional skills. Key policies of the Company can be summarized as follows:
Remuneration and welfare benefits
The Company has a policy to provide fair remuneration, enhance job security and promote career paths for all employees. It provides all necessary employee welfare benefits as required by law, such as social security benefits. Also offered are extra welfare benefits other than those required by law, such as health and accident insurance, financial contributions towards the funeral costs of employee’s parents, and scholarships for the children of employees.
Know-how improvement and training
The Company promotes HR development by encouraging all employees to improve upon their knowledge, and enhance their ability, potential, attitude, morals and ethics, and embrace the spirit of teamwork. Training workshops and seminars are organized from time to time to effect those improvements. Further, the Company supports corporate and human resources development, focusing on efficiently implementing operating procedures, clearly defining the scope of employees’ roles and duties, determining appropriate rates of remuneration, improving the performance evaluation system and expanding employee’s capacity.
Occupational health and safety
Company policy stresses the importance of employee occupational health and safety in a good workplace. Great efforts have been made to implement precautionary measures to avoid work-related accidents with great efforts. Safety awareness is established among employees. Training sessions are held from time to time to promote and educate all employees about occupational health (e.g. any acts or things that are detrimental to the health or condition of customers or service users and should be avoided). All employees are encouraged to keep the workspace in a hygienic and safe condition at all times.
The Company commits itself to dealing honestly with customers (in other words, they are consumers) by complying with any agreements made in accordance with applicable standards required by law. Quality control is emphasized in all steps of the production process. The Company recognizes that water quality and safety are a foundation of its operations. In addition, it stresses the importance of ensuring that skilled personnel are available, and the stringent measures of quality control in the production process, from the procurement of the raw materials until the manufactured end products.
Environmental protection is one of the Company’s concerns. In managing its business in the past, the Company has always taken into account environmental effects which may result from any stage of its operating procedures. For instance, an initial environmental examination is always carried out before construction work is commenced. All necessary operating systems and regulations have been carefully designed and established to prevent potential harmful effects on the environment and local communities. ISO14001 international environmental management standards were adopted as a guideline for the Company’s business. With the view that sustainable use of natural resources is crucial, the Company will reuse by-products or residue of the production process, adopt a treatment system to manage wastewater from its manufacturing activities and regularly evaluate the environmental management system.
Participation in social developments
The Company strongly aims to contribute benefits to the country’s economy and society and to be a good citizen that complies with all applicable laws and regulations. It also commits itself to improving and elevating the quality of life of locals in proximity to its premises as well as expanding its business at the same time, which constitutes a component of its code of conduct. The Company always operates according to environmental standards; for instance, in the production process, power and resources are efficiently used and preventive measures are taken to control and avoid pollutant products. Environmental management is performed according to well-established standards and is regularly monitored and evaluated for further development.
To foster a good relationship with local communities, the Company always supports local activities and campaigns, taking into account the suitability and benefits to the communities for of enhancing sustainable development.
The Company recognizes the value and importance of non-renewable water resources, as well as the importance of environmental conservation and social responsibility. Therefore, water preservation is a policy imposed to underline the Company’s strong commitment to efficiently using resources in its operations and manufacturing activities. The Company also emphasizes power saving practices by adopting innovation and efficient management systems, such as using solar and other alternative energy in its power generation business. It also employs a policy to share know-how and educate customers and other related government bodies about power saving practices.
Intellectual property-related practice
The Company has a policy of avoiding taking any action that infringes intellectual property rights, i.e. copyrights, patents, trademarks, trade secrets and other intellectual property, as defined by law. For instance, all software used by the Company is copyrighted and must be screened and installed by the IT team in order to prevent the use of pirated software