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Anti-Corruption Policy

To prepare for initial public offering and listing on the Stock Exchange of Thailand (SET) after conversion into a public limited company, and to conform to related regulations of The Securities and Exchange Commission, Thailand (SEC) and SET, the Board of Directors (hereinafter referred to as the “Board”), reached a resolution, on 29 March 2018, that Announcement No. 29/2016, which was issued on of 6 October 2016, is no longer applicable and must be replaced by the current Anti-Corruption Policy.


TEAM Consulting Engineering and Management Public Company Limited (hereinafter referred to as the “Company”) focuses on good corporate governance principles and business ethics. Therefore, to benefit all shareholders and stakeholders, the Board, in meeting No. 1/2018 of 29 March 2018, mandated the new anti-corruption policy to stipulate the following principles:


1. The Company shall conduct its business with transparency. All directors and employees are prohibited from all forms of corruption within and outside of the organization.


2. That anti-corruption measures are in place to address all forms of malfeasance, e.g. giving or receiving graft, and other kinds of unscrupulous benefits, as well as spurious donations for charity or public benefit, and unorthodox support for political parties or groups.


3. The personnel management system shall be developed so that it enables employees to conform to Company ethics while also promoting anti-corruption measures as part of the corporate culture.


4. The internal control system shall prevent corruption and conduct of business that violates good governance principles.


5. Communication channels shall be provided for employees and stakeholders that facilitate the confidential reporting of complaints and allegations. Fact-finding mechanisms shall enable investigations so that corrections and improvements can be made.


6. Financial reporting shall conform to transparent accounting standards; differences between estimated project costs and actual project costs must be analyzed and inspected on a regular basis.


7. Procurement must be conducted with transparency and in compliance with related laws and regulations as well as Company rules. Procurement inspection must be carried out on a regular basis.


8. All directors, executives, and employees must be alert to and prevent corruption within the organization. Should any deliberate felonious practices, or actions that may generate instances of corruption, be observed by any person, he/she must immediately report such misdemeanors to his/her supervisor or employ the reporting channel established by the Company for this purpose. The name of the informant and details provided will be held in strictest confidence. Ethical Company members who reject corrupt practices will thus be best protected and safe from any reprisals.


This Anti-Corruption Policy becomes effective on 2 April 2018.


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