Operating business with fairness, honesty, transparency, and responsibility to all stakeholders is a crucial factor that contributes to sustainable business growth. These practices would also help to build trust among stakeholders and lead to credibility and good reputation of the Company. That is why we are committed to working, both direct and indirectly, against corruption in all its forms in all businesses and departments as declared in our Anti-corruption Policy. We participate in Thailand’s Private Sector Collective Action Coalition against Corruption (CAC), demonstrating our strong commitment to driving anti-corruption practices throughout the organization.
To ensure that our employees would not neglect our commitment, we raise awareness of our directors and employees at all levels on anti-corruption policies and practices throughout the organization through various channels including trainings, induction programs, e-newsletters, the CPF Connect mobile application, and other internal communication channels. We have implemented the basic corporate governance training course into the set of basic courses that all employees can learn, understand, and implement in their daily work properly. Employees have to pass the training at least once a year to regularly review their knowledge and understanding on corporate governance and anti-corruption as required by the company. In addition, new employees must attend the training within 90 days after joining the company.
In 2024, we trained our directors and employees in every level on anti-corruption related which accounts as follows:
| Level of Employees | Person | Percent |
|---|---|---|
| Directors | 15 | 100 |
| Management | 22,067 | 100 |
| Employees | 46,973 | 100 |
| Thailand Operations | 69,055 | 100 |
| Overseas Operations | 63,684 | 100 |
| Total | 132,739 | 100 |
In addition, CPF provides a channel for whistleblowing or complaints when inappropriate behaviours or non-compliance with Code of Business Ethics are encountered. We also welcome suggestions from employees. CPF shall ensure fairness and protect employees who refuse to perform any activity that can be considered an act of corruption or those who report corruption related to the Company. In 2024, the Company received a total of 173 complaints through various channels. Among these, 3 cases were related to fraud, 7 cases involved non-compliance with regulations, rules, or inappropriate behavior, 7 cases related to product quality, and 10 cases including incidents affecting the community/environment. The Company has taken appropriate disciplinary action against the offenders in accordance with Company regulations. Furthermore, internal control measures have been reviewed to ensure adequate oversight of compliance with operational procedures and to prevent fraud, corruption, bribery, discrimination, harassment, conflicts of interest, money laundering, and misuse of insider information. Details and management measures are outlined in the table below.
| Type | Number of cases | Disciplinary Actions | |||
|---|---|---|---|---|---|
| Verbal admonition | Written admonition | Suspension | Termination | ||
| 1. Fraud | 3 | - | - | - | 3 (3 people) |
| 2.Non-compliance | 7 | 5 (5 people) |
2 (3 people) |
- | - |
| 3.Corruption and bribery | - | - | - | - | - |
| 4.Discrimination and Harassment | - | - | - | - | - |
| 5.Conflicts of interest | - | - | - | - | - |
| 6.Money laundering and insider trading | - | - | - | - | - |
In 2024, the Company has no legal disputes regarding anti-competitiveness trade monopoly, law violation and unfair trade practices. There are also no significant social, human rights, and environmental legal disputes. (Capital over than 5% of shareholders’ equity as of December 31, 2024).
However, the incidents did not have any significant impact on CPF’s reputation or finance, and CPF does not have litigation whatsoever related to corruption, giving and taking bribe, monopoly or trade barrier.
Detail of the implementation of anti-corruption in 2024 is available in Annual Report 2024 Part 2 Corporate Governance Page 132
Performance