Page 115 - 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
Thailand Post’s ethical standards. There are also clear guidelines for handling complaints about unethical practices and measures to protect whistleblowers appropriately. Additionally, performance reports on corporate governance are submitted to public shareholders.
In 2024, THP operated in accordance with the Principles and Guidelines on Good Corporate Governance for State Enterprises, B.E. 2562 (2019), of the State Enterprise Policy Office (SEPO), Ministry of Finance. The overall operations can be summarized as follows :
Role of the Public Sector
Ministry of Finance which holds 100% of shares in THP has passed down the policy and direction of operations via the policy of government shareholders (Statement of Director : SOD). Moreover, THP Board of Directors, as the representative of the government shareholder, has governed the overall operations of THP without interfering the management of routine jobs in order to give THP full authority and independency to manage the business. The roles and responsibilities of policymakers, regulators, operators and owners are clearly separated, and performance is monitored and evaluated to ensure effective and reliable operations.
Rights and Equality of Shareholders
Ministry of Finance holds all shares in THP and has organized the shareholders’ meeting in accordance with THP’s Articles of Association, Chapter 3, the Shareholders’ Meeting, Article 10 which stipulates that a general meeting of shareholders must be organized within six months from the date of company registration. After that, an annual general meeting of shareholders shall be held within four months after the end of the accounting year of the Company. The Ministry also complies with Section 23 of the State Enterprise Corporatization Act, B.E. 2542 (1999), which prescribes that during the period when the Ministry of Finance has not yet transferred the shares it holds to other persons, the provisions of the Civil and Commercial Code and the law on public limited company with respect to the number of shareholders and number of shares that may be held by each shareholder shall not be applied. The views of the Ministry of Finance in relation to that company shall be deemed as a decision of the general meeting of the shareholders. The views of the Ministry of Finance being notified to the Partnerships and Companies Registrar or Public Limited Companies Registrar shall be published in
the Government Gazette. In this regard, at the annual general meeting of shareholders, THP has submitted information on the performance of various matters that has been approved by THP Board of Directors to the Ministry of Finance, as the government shareholder, for approval. It shall be deemed that opinion of the Ministry of Finance is a resolution of the general meeting of shareholders. With respect to auditing, the Ministry of Finance has resolved to approve the appointment of Deloitte Touche Tohmatsu Jaiyos Co., Ltd., with Miss Wimonporn Boonyattian or Miss Kornthong Leuangwilai, certified public accountant, being the auditor of THP for the year ended 31 December 2024. The appointment has been approved by the State Audit Office of the Kingdom of Thailand and the remuneration is fixed at 4,410,000 baht (four million four hundred and ten thousand baht). According to the announcement of the Ministry of Finance on the resolution of the 2024 annual general meeting of shareholders of Thailand Post Co., Ltd., announced on 30 August 2024 and published in the Government Gazette, Volume 141, Special Section 244 NG, dated 6 September 2024.
Stakeholders’ Roles
THP places importance on management and building of relationship with stakeholders to enable the organization to achieve its established vision and missions. Impacts of important work processes of the organization are analyzed and assessed throughout the value chain. The important stakeholders are categorized into seven groups, namely customers, partners, sellers of goods/ services, internal units/ personnel, competitors, communities and society, and supervisory agencies. It is realized that all groups of important stakeholders should receive care from THP in accordance with rights determined by applicable laws. Moreover, it is necessary to coordinate and balance the benefits of all groups of stakeholders appropriately as follows :
1) Customers : Standardized goods and services are delivered to customers. Appropriate and fair service fees are determined to meet the needs and behaviors of customers. Information technology system is developed to improve operational efficiency. Communication channels are developed to enable customers to quickly receive correct and reliable information. Customer data are stored systematically and safely and are not misused.
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