Listed company level
Endorsed by the government and the Office of National Anti-corruption Commission, the initiative was launched by the eight founding organizations, i.e., the Thai Institute of Directors(IOD), the Thai Chamber of Commerce, the International Chamber of Commerce, the Thai Listed Companies Association, the Thai Banks Association, the Federation of Thai Listed Companies, the Federation of Thai Industries and the Tourist Council of Thailand. The objective of the program is to promote anti-corruption practices. The CAC Committee has appointed the IOD as secretary and promoter.
The SEC continues to develop business sustainability among listed companies and intermediaries with a focus on anti-corruption by supporting them to join Thailand’s Private Sector Collective Action Coalition Against Corruption (CAC) and to disclose their corporate governance progress on www.sec.or.th/cgthailand
The Corporate Governance Report of Thai Listed Companies is conducted by the Thai Institute of Directors (IOD) with an objective to present assessment results of listed companies’ corporate governance practices and to promote corporate governance development of listed companies.
The assessment covers five major areas as follows:
1. Rights of Shareholders
2. Equitable Treatment of Shareholders
3. Roles of Stakeholders
4. Disclosure and Transparency
5. Board Responsibilities
The assessor uses publicly disclosed information such as annual report, annual registration statement (Form 56-1), notice of shareholder’s meeting, company’s website, information disclosed on the websites of the Stock Exchange of Thailand and the SEC, as well as other publicly disclosed information.
The Annual General Shareholders’ Meeting (AGM) Assessment Project is conducted by the Thai Investors Association with an objective to raise listed companies’ awareness of the importance of maintaining the AGM quality in line with international standards, and to build a positive image of the Thai capital market in terms of shareholders’ engagement, shareholders’ rights and good corporate governance. The project also aims to promote shareholders’ participation in the AGM, and to enhance cooperation and good relationship among entities in the capital market.
The assessment focuses on the whole process of AGM, starting from the dissemination of the meeting notice attached with details of the arrangement before, during and after the meeting. The assessment is divided into two parts as follows:
1. Listed company completes the AGM-Self Assessment Form and submits it to the Thai Investors Association (Assessment guidelines and examples are available in the AGM Checklist).
2. The Thai Investors Association assigns AGM volunteer observers to participate and assess the AGM quality of listed companies.
The SET Awards Project is initiated by the Stock Exchange of Thailand, aiming to honor listed
companies, securities companies, asset management companies, and chief executives for their
excellence in different areas. The categories of the SET Awards are as follows:
By type of company
The Stock Exchange of Thailand has launched the Sustainability Awards, which is the combination of the previous “Top Corporate Governance Report Awards” and the “Best Corporate Social Responsibility Awards,” to honor listed companies’ outstanding performance in all areas of Sustainability Development and encourage executives and employees to be a good example of committed drivers of sustainable business enterprises. In addition to the Sustainability Awards, the SET has initiated the “Social Enterprise Investment Awards” for listed companies with outstanding performance in supporting social enterprises.
The Thai Institute of Directors (IOD) has initiated the Board of the Year Awards to honor and promote the most effective boards in every two years. The candidates must be the boards of listed companies on the SET and mai.
The Selection Sub-Committee appointed by the Award Committee selects the qualified boards of directors as candidates for the Award before carrying out the following selection process:
Step 1: Selecting company boards that meet the preliminary qualifications. The eligible boards are those whose companies have obtained “Very Good” or “Excellent” overall corporate governance scoring under the IOD “Corporate Governance Report of Thai Listed Companies 2014” combined with the assessment results of at least 70 percent in the area of Board Responsibilities:
Step 2: Contacting the nominated companies to request additional information and arrange an interview with the Selection Sub-Committee:
Step 3: Presenting the results for the Award Committee’s consideration and selection.
The criteria based on the OECD Principles of Good Corporate Governance and the SET guidelines for boards of directors are divided into five categories as follows:
1. Board Policy 15%
2. Board Members 15%
3. Board Structure 15%
4. Board Process 15%
5. Board Performance 40%
The Sustainability Report Award is a joint initiative of the Securities and Exchange Commission, the
CSR Club, the Thai Listed Companies Association and Thaipat Institute. Launched in 2013, the
Award aims to promote and enhance the quality of sustainability development reporting of listed
companies on the SET and mai, as well as non-listed companies and small-and medium-sized
enterprises. The announcement of the Award recipients takes place at the Annual CSR Thailand
The criteria for the Sustainability Report Award are: