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Annual Report
2013
5.11 Allocation of Reserve for Loss from
Operations of Directors and Executives
Directors and executives perform duties as
entrusted or do the job resulted from their status
and titles for the benefit of the Company, including
to hold the position in other companies as directed.
In case there is any lawsuit claiming due to such
performance, the Legal Division will be responsible
for the defense until the case becomes final. The
Company has set aside Baht 2 million a year as a
reserve for loss if the duty is duly performed as a
result of his/her authority whether or not such action
is taking place now or was done in the past. In case
it is a fraud or corruption, the Company shall not be
responsible for any loss incurred and will demand all
expenses resulting from defending such a case from
the corrupted or fraudulent directors or executive
officers.
6. Business Ethics and Corporate
Governance Policy
6.1 Corporate Governance Policy
To enable the Ratchaburi Electricity
Generating Holding Public Company Limited to
maintain international operational standards that
earn recognition and confidence from shareholders,
investors and stakeholders, the Company remains
committed to operating the business with
responsibility, fair treatment to all stakeholders,
operational transparency, quality information
disclosure, short and long term added value creation
and promotion of quality operations, ethics of
executives and employees, and responsibility towards
the society and environment. The Company has
adopted the corporate governance principle for listed
companies on the Stock Exchange of Thailand as the
framework to ensure the Company has efficiency and
ethical practice in itsmanagement. The Company also
operated its business in parallel to demonstrating
its responsibility towards the society, surrounding
communities and the environment, which are the
basis for sustainable expansion. The “Corporate
Governance Policy” was prepared in writing and
implemented since 2003 with regular annual review
to ensure that it best addresses the current situation.
The Company also announced other policies
to ensure guidelines for proper treatment of all
stakeholder groups. Some of the policies are the
risk management, shareholders, employees, social
and environment, computer and network usage
policies, occupational health and safety, workplace
environment and the 5S policy. (All are published
on the Company’s website.) The Company also
studied how to prepare itself for the upcoming ASEAN
Economic Community integration (AEC). Rules and
regulations on listed companies in ASEAN will be
later adjusted to be in the same standard across the
region.
6.2 Business Ethics
Business Ethics have been written to
provide framework for desired behaviors of the
Company, its Management and employees towards
its creditors, partners, competitors, community
and society, government and the environment.
The Board of Directors has prepared the Business
Ethics in writing and has implemented it since the
