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Annual Report
2013
The Risk Management Committee convened
four meetings in 2013, all are joint meetings with
the Company’s Management according to the
recommendation from the Risk Management
Working Group which comprises representatives
from all divisions. The resolution of each meeting
was summarized and presented to Company’s
Board of Directors for acknowledgement. In the
past year, the Risk Management Committee’s
major tasks are as follows:
Considering and ensuring the Company’s risk management plan best addressed
the Company’s strategic plan. Risks and risk factors are divided into six areas-
competition, financial, operational, personnel, corporate image and compliance. The
risk management progress report was presented to the Board of Directors every quarter
for approval.
Monitoring risk management progress in order to acknowledge significant risks and
to assess related operations to ensure that the Company’s risk management plan is
appropriate and sufficient and to control or minimize risks. The Board of Directors are
regularly informed of any change.
Providing necessary advices to support the preparation of appropriate risk
management plan in order to improve effectiveness and criteria of the risk factors
and risk management plan.
The Risk Management Committee believed that in the past year, the Company has continuously
improved corporate risk management system. The Risk Management Committee and the Risk
Management Working Group heldmeetings on quarterly basis. All divisions and departments within the
Company and its subsidiaries were encouraged to regularly monitor and update information related
to risk factors and risk management process. Such close monitoring is to ensure that risk management
continues without interruption and best addresses the changing environment. The Company’s
significant risk management is considered appropriate and controlled in the acceptable level.
Risk Management Committee’s Report
Pol. Lt. Gen. Thavorn Chanyim
Chairman of the Risk Management Committee
