Page 113 - Thailand Post Annual Report 2024

Part 1
Overview of the Organization
Part 2
Business Trends
Part 3
Business Model
Part 4
Strategies and Resource Allocation
Part 5
Risk
Part 6
Corporate Governance
Part 7
Operating Results
Part 8
Other Information
Risk
Descriptions
Impact
Risk Management Plan
10
Liquidity in business operations Risk
The fierce competition in the logistics and transportation industry, along with the increase in new market entrants, has led to price competition for market share. This has become a key factor contributing to THP’s declining revenue, which could affect future business liquidity.
- Liquidity of the organization may not be sufficient to conduct business or invest in various projects.
- Preparing sources of funds to enhance financial liquidity by appointing a working group to seek loans and monitor the organization’s liquidity.
11
Compliance Risk
Business operations must be transparent and fair under the laws, regulations and government’s policy, which shall be strictly complied with, because failure to comply with laws or regulations that are subject to change may impact the organization’s image and reputation, lead to punishment and fines, and may result in loss of confidence.
- Confidence and image of the organization may be affected.
- The organization may be penalized and fined.
- There are dedicated units for corporate governance and legal affairs that oversee the organization’s operations to ensure compliance with laws, regulations, and directives related to business activities.
- Establishapolicyforcompliance with relevant laws and regulations to ensure operations comply with legal requirements.
12
Risks from technology that creates significant change
Changes and advancement of technology are very important to business operations today where new technology contributes to fast and significant changes and causes behavioral changes among consumers.
- THP’s services may be replaced by new technology in the case where technology or innovation cannot be applied to business operations
- Traditional business models are being replaced by modern technologies.
- Using technology and innovations to improve the quality of goods and services.
- Planning a strategy to become an organization of innovations and digital technology by seeking new innovations both from within the organization and through cooperation with outside partners.
- Use of technology and innovation to develop the quality of products and services in order to add value to both existing and new products/ services (New S-Curve).
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