Bangkok--17 Nov--PTT
Strengthening from inside and upholding Zero Tolerance, with three lines of defense to ensure in forwarding its goal to become the pride of Thai people.
Mr. Tevin Vongvanich, PTT's CEO & President said ""PTT is highly pleased and proud to receive ""Honorable Mention Corporate Transparency Award"", granted by National Anti-Corruption Commission (NACC). I would like to thank all PTT board members, executives, and employees for the dedication and collaboration to ensure every businesses operation and procedure with adherence to the principles of good corporate governance, transparency, and accountability. This helps establish confidence for all stakeholder groups in a balance manner, which is the most important fundamental on driving PTT to become a ""National Treasure"" that Thai people are proud of"".
PTT has been continually implementing Zero Tolerance and Anti-Corruption Policy across the organization, especially developing systems and mechanisms in bribery defense, so called 3 Lines of defense. The first line is for the operational level to promote the company's ""Strengthen from Inside"" strategy. All level of employees must perform duty with the ethical conduct. The second line is for CG committee, which has to coordinately work with other departments such as compliance and regulation-related, risk management, and financial departments, and the last line is for Audit committee. Their task is to ensure that the company's internal control has efficiently worked. These three lines of defense represent as a working discipline to ensure that PTT strongly adheres to honesty, transparency, and fairness across its business operations.
In practices, PTT implements 'Continuous Control Monitoring and Auditing System' (CCMC) to increase efficiency and develop anti-corruption measures. The system is to detect any inappropriate behavior as well as to prevent corruption in the first place. Moreover, the company has always dedicated our best endeavors to continually develop new anti-corruption measures such as 1.) Integrity Pact, which requires all potential bidders and external witness's to observe and ensure that each party carries out honest procurement practices, as well as disclosing critical information concerning all stages of project development. 2.) No-Gift Policy, with provisions against the giving or receiving of gifts or benefits of any kind. 3.) The prevention of Insider Trading which is a system to prohibit trading on the basis of non-public information to others or recommending the purchase or sale on the basis of such information. 4.) Forensic Investigation, which is to corporate with NACC in every investigation of any untransparent practices.
""PTT is continually striving to improve and develop mechanisms in accordance with the NACC policy, aiming to enhance the country's transparency and anti-corruption system. PTT deploys the CG committee as an anti–corruption operating center in implementing the system of the three lines of defense. This is to ensure the company operates its businesses in compliance with ethics and integrity"".
""I also would like to express my gratitude to PTT's affiliates, including PTTGC, IRPC, and TOP, in regards of receiving the honorable NACC Integrity Award as well. Besides, ""Kon Mun Pun R Sa"" program, under the collaboration between PTT and TV Burapa Company, won ""Chor Sa Ard" Award from NACC in cultivating morals, ethics, and social responsibility among Thai people.