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Fight against
Corruption

Fight against corruption

Challenges, Risks,

and Impacts

Thaioil Group strives to drive sustainable growth by strengthening its core business while seeking opportunities in new, high-value, and environmentally friendly businesses. 

expanding into international markets to build a resilient foundation for future changes. Accordingly, Thaioil Group has faced complex governance challenges arising from laws and regulations across different countries, collaboration with diverse business partners, and stakeholder expectations. Amid these challenges, Thaioil Group has recognized the great importance of conducting business under good governance principles and anti-corruption practices, which is a critical foundation for building trust and ensuring long-term organizational sustainability. In addition, transparent and fair business practices help enhance stakeholder confidence and create opportunities for investment and expansion of business partnerships. In contrast, ineffective governance may negatively affect the Company’s reputation and stakeholder trust. Therefore, Thaioil Group places strong emphasis on strengthening governance across the supply chain to mitigate governance risks, prevent corruption, and promote transparent and sustainable business operations.

Commitments and Targets

Thaioil Group is committed to operating its business with fairness, integrity, transparency, and accountability. This is a crucial foundation for enhancing competitiveness and supporting sustainable growth to build trust among all stakeholders. With this commitment, the Company has established policies, manuals, and guidelines on corporate governance, anti-corruption, and legal compliance across the organization. In addition, Thaioil Group has continuously driven its implementation to achieve the target of achieving “Zero Non-compliance and Fraud Incidents”.

Target

Case of Non-Compliance and Fraud Incidents

Target 2025

0

case

Long-term Target 2030

0

case

Management Approach

and Performance

Thaioil Group acknowledges that corruption is the key obstacle to achieving the Company’s targets and hindering the development of the national economy and society. To address these concerns, the Company has established the “Anti-Fraud Policy” which outlines definitions, roles and responsibilities, guidelines, and measures. The policy has been communicated throughout the organization to ensure that the Company’s Board of Directors, management, and employees are aware and adhered to its principles. In addition, the Company conducts an annual review of the Anti-Fraud Policy to ensure that its alignment with changing situations.

Besides formulating its policies and guidelines, the Company places importance on implementing the Anti-Fraud Policy and its guidelines and measures in practical ways. The Company regularly monitors the performance and improves the plan as appropriate. Moreover, the Company proactively assesses corruption risks and designs an internal control system to prevent the corruption risks. Meanwhile, the Company actively promotes knowledge sharing and training related on corruption risks within both internal and external organizations. Furthermore, the Company proactively monitors and evaluates compliance with the related policies and guidelines to ensure the organizational effectiveness.

Management Approach

The Board of Directors has approved and implemented policies and Corporate Governance and Code of Conduct Manual across the organization. The Board has assigned the Corporate Governance and Sustainability Committee to oversee and promote the Company’s operations in alignment with its policies, the principles of good corporate governance, business ethics and code of conduct. Moreover, this committee is responsible for conducting regular annual review of the Company’s policies, principles, and practices of good corporate governance along with integrating Governance – Risk & Internal Control – Compliance (GRC) into its operations. The integration of GRC aims to embed GRC systems and culture into business processes, create a balance between control and risk management, and enhance the efficiency of corporate governance to ensure compliance with laws, regulations, and standards.

Good Corporate Governance

Thaioil Group has established the corporate values as known as “POSITIVE” and followed by all employees across the organization, particularly I: Integrity, one of these values, representing honesty and a commitment to fairness and doing what is right. Additionally, Thaioil Group has adopted the national and international corporate governance practices to establish management structure and mechanisms under “REACT+E” principle. The Company encourages honesty at work to the Board of Directors, executives, and all employees to build awareness and enhance the compliance with code of conduct. As a result, the following corporate culture was formed:

Principle
Description
Responsibility
Responsibility to perform duties with adequate capability and efficiency
Equitable Treatment
Fair and equal treatment for all stakeholders
Accountability
Accountability in one’s own decision making and acts and the others under supervision, presenting the ability to inform, and explain decisions made
Creation of Long-term Value
Vision to create corporate long-term values
Transparency
Transparency in business operation that can be scrutinized and transparent disclosure of information for all relevant parties
Ethics
Ethics and morality in business conduct

According to the Company’s commitment to adhering to the principles of good corporate governance, the Board of Directors has approved the policies and practices, including Corporate Governance Policy, Anti-Fraud Policy, Corporate Governance and Code of Conduct Manual, aligning with corporate governance principles and assessment criteria, such as the Corporate Governance Code for listed companies 2017 (CG Code), and Corporate Governance Report (CGR) of Thai Listed Companies. In addition, the Company has disclosed the Corporate Governance and Code of Conduct Manual  (CG Manual) on the Company’s website at https://www.thaioilgroup.com/en/corporate-governance/corporate-governance-and-code-of-conduct-manual/

Code of Conduct and Compliance with Relevant Laws and Regulations

Thaioil Group has established the business code of conduct and the Corporate Governance and Code of Conduct Manual (CG Manual). This manual serves as a guideline for directors, executives, and employees to follow and conform with integrity, transparency, and accountability. Moreover, all directors, executives, and employees are required to study the details of the CG Manual and acknowledge their understanding through the CG Reporting electronic system. This affirms their commitment to adhere to these principles and apply them practically in their operations. In 2025, there were no violations of the business code of conduct or corruption among the Board of Directors, executives, and employees.

To demonstrate the intention to achieve mission legally, ethically, and transparently, Thaioil Group has declared a Compliance Policy applicable to all employees and stakeholders working with the Company and its affiliates. Additionally, the Company has established a Compliance Unit to oversight the compliance of Thaioil Group’s business operations with relevant laws and regulations. The unit regularly monitors changes in government policies and the enactment of new laws to ensure the Company remains responsive to regulatory developments. Also, the unit is tasked with promoting awareness of the importance of legal compliance for employees at all levels as well as conducting self-assessments to evaluate the effectiveness and efficiency of the Company’s compliance with government policies, applicable laws, and regulations.

Complaint and Whistle-blowing Procedure and Complaint Monitoring, Investigation, and Response

Thaioil Group also establishes appropriate and fair measures to protect complainants, whistleblowers, and individuals from retaliation, such as job reassignment, intimidation, interference in workplace, termination, or other unfair treatments. The Company is commits to maintaining confidentiality of all complaints and will not reveal any information to third parties unless it is required by law.

To enable all stakeholder groups to monitor, oversee, and ensure that the Board of Directors, executives, and employees comply with laws, regulations, corporate governance principles, and the business code of conduct, while refraining from any actions that might lead to corruption. Thaioil Group has established the grievance measure and/or whistle-blowing procedure in the CG Manual which has been approved by the Board of Directors and published on the Company’s website. Affected entities or those who are impacted by the Company’s operations, such as stakeholders, employees, related officers, or external individuals, can submit complaints through provided channels. The details of grievance measure and/or whistle-blowing procedure are published on the Company website at https://www.thaioilgroup.com/en/corporate-governance/whistle-blowing-measures/

In addition, Thaioil Group also establishes the proper and fair measures to protect complainants, whistleblowers, and individuals from retaliation, such as job reassignment, intimidation, interference in workplace, termination, or other unfair treatments. The Company commits to keep confidentiality of all complaints and will not reveal any information to the irrelevant parties unless it is required by law. 

Furthermore

In 2025, Thaioil Group received four complaints through the grievance and whistle-blowing channels. Following thorough investigations under the Company’s grievance management process, three cases were determined to meet the criteria for complaints. The first case was closed with no evidence of corruption or violation of the Company’s regulations, and the resolution was notified to the complainant. The second and third cases are currently under investigation.

Additionally, complaints received through the grievance and whistle-blowing channels, and through the personal data management process. In 2025, Thaioil Group had no fines and convictions related to corruption and bribery cases. The investigated case complaints can be categorized as below.

Type of Complaint
Number of Cases Investigated
Breach / Non-compliance cases
Corruption and bribery
0
0
Discrimination
0
0
Confidentiality of information and Use of Inside Information
0
0
Customer Privacy Data
0
0
Conflicts of interest
0
0
Anti-trust / Anti-competitive practices
0
0
Money-laundering
0
0
Quality, Security, Safety, Occupational Health and Environment
0
0
Non-compliance with the Company’s regulations
2
0
Other issues of Code of conduct
1
0

Conflict of Interest Prevention

To build confidence among stakeholders that the Company has operated its business efficiently and transparently, Thaioil Group places great importance on preventing conflicts of interest by overseeing, identifying, and managing potential conflicts. The Company has also integrated the “Code of Conduct on Conflicts of Interest” into the CG Manual as a guideline for all employees to be adhered with, and determined various management approaches, such as requiring directors and executives to report their interests in accordance with relevant threshold for the initial appointment and during their service term on quarterly and annually basis. Moreover, the Company has also established the Conflict of Interest Disclosure Electronic System that requires all management executives and employees to report their conflicts of interest since joining the Company. Also, any conflict case should be annually reported at the beginning of the year, and report when the conflict arises

In 2025, a total of 2,116 executives and employees have participated in the conflicts of interest reports (reflecting the number of employees at the time of reporting), representing 100 percent of the entire organization’s employees. Additionally, the conflicts of interest were also communicated to management executives and employees through the articles in Akanee magazine, an internal corporate magazine, and E-newsletter throughout the year. The e-mails were sent directly to all executives and employees and posted on the Company’s intranet.

Corporate Compliance Verification Systems

Thaioil Group conducts a comprehensive assessment and verification of the Company’s Corporate Compliance System to ensure the Company’s operations align with international standards and relevant regulations. In 2025, an independent third-party organization, MASCI (Management System Certification Institute), has conducted annual surveillance audit for the legal and the Company’s compliance system against ISO 14001, ISO 45001, and ISO 50001, which encompassed the following seven key areas: (1) Context of the organization, (2) Leadership, (3) Planning, (4) Support, (5) Operation, (6) Performance Evaluation, and (7) Improvement to ensure adherence to relevant laws, standards, and requirements.

Moreover, the Company has integrated Corporate Governance Policy, Anti-Fraud Policy, and Compliance Policy into TOP Way of Conduct. This serves as a direction for assigning the representative employees in overseeing and managing Thaioil Group in a consistent manner. This ensures that everyone is heading in the same direction to achieve long-term targets and sustainable growth.

Fight Against Corruption

Thaioil Group recognizes corruption as a significant threat to achieve the corporate goals and advance the nation’s economic and social development. Consequently, the Company has established “Anti-Fraud Policy” along with definitions, roles and responsibilities, guidelines, and implementation measures. This policy aims to ensure that the Board of Directors, executives, and employees are acknowledged and adhere to the policy as a key practice. The Anti-Fraud policy has been implemented across all own operations of Thaioil Group. The Company has reviewed its Anti-Corruption Policy annually and reports the results to the Corporate Governance and Sustainability Committee. If revisions are needed, the Company will propose to the Board of Directors for approval to ensure it conforms with changing circumstances, relevant regulations, and be able to address new corruption risks. In 2025, the Board of Directors approved the updates of the Anti-Corruption Policy to make it clearer and more complete.

In the case that any non-compliance with the anti-corruption policy is identified, employees or external parties who witness or become aware of such matters may submit complaints or provide information through the channels specified under the grievance measure and/or whistle-blowing procedure. These measures have defined a complaint management process covering the receipt of complaints, registration and acknowledgment, consideration of appropriate actions, fact-finding investigations and determination of disciplinary measures. The Company will report the complaint to the Corporate Governance and Sustainability Committee and the Audit Committee on a regular basis, at least once a year. In addition, protections are provided for whistleblowers and related parties to ensure that cases of non-compliance are addressed in a transparent and fair manner.

Additionally, Thaioil Group emphasizes the importance of the practical implementation of the Anti-Corruption policy, practices, and measures. This includes regular monitoring of their performance to refine and improve action plans. Also, the Company communicates, shares knowledge, provides training regarding anti-corruption for internal and external organizations, as well as evaluates performance in compliance with its policies and related practices. The Company has also published the policies relevant to good governance, which includes Anti-Corruption policy on the Company’s website at https://www.thaioilgroup.com/en/corporate-governance/corporate-governance-policies/

Ethical Supply Chain

Thaioil Group has prioritized enhancing the enforcement of its anti-fraud policy among suppliers, because this is a critical step towards a robust and ethical supply chain. As outlined in the Anti-Fraud Policy, the company has established procedures on screening, monitoring, and overseeing suppliers to ensure that they comply with anti-fraud and corruption measurements.

Corruption Risks Assessment

Thaioil Group has established an enterprise risk management system. The Board of Directors has assigned the Risk Management Committee to determine corporate risk management policies and to oversee the risk management systems and measures in the corporate, business unit, and functional levels. This aims to reduce the impacts on business operations and to ensure that the corporate goals can be achieved.

Besides, Thaioil Group has also assessed corruption risks. The Company has reviewed its risk management plans related to corruption annually. The Company has identified the risks and prevention measures for four activities marked in the Corruption Risk Profile, such as supporting government agency activities and applying for a business license from a government agency. tax fraud, and procurement processes.

The collaboration with other partners to conduct corporate governance and fight against corruption

Thaioil Group has been a member of the United Nations Global Compact (UNGC) since 2012. The Company applies the 10 UNGC Principles to promote good governance regarding human rights, labour, environment, and anti-corruption in its operations.

Thaioil Group has been a member of the Collective Action Coalition Against Corruption (CAC) since 2012, and the Company became a CAC-certified company for the first time in 2014, with a three-year membership. Thaioil Group has consistently renewed the CAC certification as a CAC Re-Certified Company throughout the period. In 2025, the Company submitted its fourth application for CAC re-certification to continuously uphold anti-corruption standards. These memberships and certifications have enabled Thaioil Group to enhance transparency in business operations, uplift corporate governance standards, and reduce the risk of prosecution under the Anti-Corruption Act 2018. Furthermore, the Company proactively demonstrates its strong commitment to fighting against corruption in all forms through participation in various activities, such as Anti-Corruption Day organized by the Anti-Corruption Organization of Thailand (ACT).

Capability development on ethical standards

Thaioil Group has placed a strong emphasis on embedding principles of good corporate governance, business ethics, and anti-corruption across its operations. The company has incorporated these core values into its orientation program for both employees and contractors. This initiative has been met with full participation as 100% of new employees and contractors have engaged in the training sessions, thereby reinforcing the company’s commitment to ethical business practices throughout its own operations and entire value chain.

Highlighted Projects

In 2025, Thaioil Group consistently embedded and emphasized the good governance and anti-corruption practices from policies to operational implementations. This aims to enhance knowledge, understanding and reinforce the importance of these principles across all levels of employees. The Company has conducted continuous communication and promotional activities in various forms as follows:

Organized the activities to promote transparent, fair, and corruption-free workplace practices, and to enhance knowledge on corporate governance and legal compliance through various initiatives. These includes “AI & Data Privacy: Using AI Wisely and Safeguarding Data Security” presented by external experts. Also, the Company has conducted 6 training sessions under the concept of “Speak up, Whistle up, Listen up” to communicate and raise awareness on grievance measures and/or whistle-blowing procedures.

Created a short drama series titled “GRC The Series 2” consisting of 8 episodes. These series show appropriate and inappropriate behaviors (CG Do & Don’t) through workplace situations, such as the misuse of corporate resources for personal purposes. This aims to promote understanding and awareness of good corporate governance. The series was disseminated through various internal company channels, including the Thaioil Academy system and other internal communication channels.

Organized the GRC in Action activities to raise awareness by setting up informational booths and hosting quiz games at key events held by Thaioil Group, such as CEO Townhall events in Q1-Q4 and Thaioil Innovation and Learning Day 2025.

Collaborated with PTT Group to organize the PTT Group CG Day 2025 under the theme “ONE CG DRIVING SUSTAINABLE FUTURE FOR ALL”. The event was held in a hybrid meeting to promote and disseminate the good corporate governance practices of the PTT Group, enhance corporate governance standards, and demonstrate a commitment to operate businesses under good corporate governance principles. The event attendees included the Board of Directors, executives, employees, and guests from external parties, such as representatives from the National Anti-Corruption Commission (NACC). Over 400 individuals attended the event, including suppliers, customers, and employees, with live streaming available on the event’s website.

Communicated the No Gift Policy to all employees through internal communication channels. The Company also sent “the Letter on Thaioil Group’s No gift Policy” to the suppliers, customers, financial institutions, and other business partners to avoid and prevent any cause that may lead to actions that violate Anti-Fraud Policy. institutions, and other business partners to avoid and prevent any cause that may lead to actions that violate Anti-Fraud Policy.

Communicated the principles of good corporate governance, business ethics, and anti-corruption through internal communication channels throughout the year, such as the GRC Corner column in the Akanee magazine (internal magazine) and the GRC Newsletter, with a total of 10 times.

Executives and employees participated in anti-corruption campaigns at events of external parties, including:

  • The National Anti-Corruption Day 2025 event, themed ” Not Corrupt, Not Born? Is It True?”, organized by the Anti-Corruption Organization of Thailand (ACT) on September 6, 2025, at the Professor Sangwien Intarawichai Auditorium, Stock Exchange of Thailand.
  • The International Anti-Corruption Day (Thailand) 2025 event, under the theme ” HERO OF THE TRUTH: Stop Corruption Together,” was organized by the government in collaboration with the National Anti-Corruption Commission (NACC), the Public Sector Anti-Corruption Commission (PACC), the Anti-Corruption Organization of Thailand (ACT), and other partners on December 9, 2025, at the IMPACT Convention Center, Muang Thong Thani.

Conducted the 2025 GRC Culture Survey to assess the organizational culture in terms of integration of good corporate governance, risk management, internal control, and compliance with laws, regulations, and requirements (GRC). The survey results will be analysed to formulate plans for promoting the culture within the organization and enhancing the effectiveness of corporate governance in the future.

In 2025

Performance

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Anti-Fraud Policy

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ประกาศกระทรวงสาธารณสุข เรื่อง การแจ้งข้อมูลที่จำเป็นเกี่ยวกับการเฝ้าระวัง การป้องกัน หรือการควบคุมโรคจากสิ่งแวดล้อมแก่ประชาชน ที่ได้รับหรืออาจได้รับมลพิษ พ.ศ. 2567

Embeds good corporate governance

Embeds good corporate governance, business ethics, and anti-corruption principles since the first day of employment. The Company integrates the principles into the orientation program for new employees and shared the CG handbook through the CG Reporting system. As a result, 100% of new employees acknowledged and participated in the trainings.

Organized knowledge sharing sessions to customers both in online and on-site presentations with various topics

Organized knowledge sharing sessions to customers both in online and on-site presentations with various topics such as Fundamental of Refinery Process and Business & Refinery Overview. This aims to enhance customers’ knowledge and understanding of the oil refinery industry and market.

Organized “Safety and Happy Hours” activity for drivers in 2024

Organized “Safety and Happy Hours” activity for drivers in 2024 to raise awareness on safety during product pickups for customer groups working at fuel stations, transport coordinators, ticket room staff, and other related units.

Organized cultural promotion activities through the “Cultural Activity” project.

Organized cultural promotion activities through the “Cultural Activity” project. The activity of this project aims to enhance the learning about national history and art together with customers at the Chao Sam Phraya National Museum, Phra Nakhon Si Ayutthaya Province.

Thaioil Innovation Awards 2024

Innovation Talk

Invited external speakers with expertise in innovation to share knowledge to employees. Notable speakers included Ajarn Thongchai Rojkangsadal from the Faculty of Engineering, Chulalongkorn University; Mr. Thana Slanvetpan, General Manager of AI and Robotics Ventures Co., Ltd.; Mr. Nattapat Thanesvorakul, a corporate innovation assessment consultant from RISE Accel Co., Ltd.; and Mr. CK Cheong, CEO of Fastwork Technologies Co., Ltd. In 2024, a total of 4 sessions were held with 15% increase in employee participation compared to the previous year. Moreover, the overall satisfaction level improved from 93 to 94 out of 100. There were many employees participating in each session reflecting to consistently positive response from them.

TOP BCG Updates

Prepared public relations materials in the form of monthly emails to enhance knowledge on BCG, a new economic model of the Thai government focusing on the three economic systems – Bio-Economy, Circular Economy, and Green Economy. The examples of contents involve electric vehicles, hydrogen energy, and other innovations for reducing global temperatures. In 2024, the overall satisfaction level was at an excellent level (97 out of 100).

TOP Innovation E-newsletter

Prepared the public relations media through weekly emails distributed to all Thaioil Group’s employees. The content will focus on promoting creativity, out-of-the-box thinking, and a growth mindset to cultivate the qualification of quality innovators and to build awareness of the importance of innovation in the present era. As a result, these activities have created good momentum and feedback for the Company. In 2024, the Company disseminated a total of 39 TOP Innovation E-newsletters with over 24,707 readers. Meanwhile, the readers’ satisfaction score was at an excellent level (97 out of 100).

Innovation and Learning Day 2024

Innovation Failure Challenge activity

Innovation Roadshow activity

Innovation Idea Challenge activity

Generating New Actionable Ideas through Change Agent SME
Idea Facilitation & LO Inspirer Workshop

Organized a workshop activity to develop the change agent by choosing the representatives from selected functions. The groups of change agents will be developed with the full knowledge, skills, and tools, to facilitate them to create innovation culture and invent new ideas within their functions.

CEO Townhall and Management Meeting

rganized a communication activity to encourage communication between the CEO and all employees to emphasize the Company’s direction, strategy, plans, and performance. This activity helps to ensure that employees understand and are aware of the top management’s commitment to bring changes to the Company and all employees. In addition, the progress of the Innovation Culture Awareness project will be regularly reported in the Company’s top management meetings to stimulate them to foster an innovation culture among employees.

Building Innovation Culture Awareness through Top
Management Workshop (Management Outing Workshop)

Organized a workshop activity for top management to be the leading change makers. This aims to create Innovation Culture Awareness for employees in their line or function through the core behavior of “Lead to Innovation Culture.” In addition, the workshop fosters them to exchange their experiences with external speakers on innovation creation, communication, and practices to apply the i-LEAD behavior as a role model.

Teach for Thailand Project

Objective

To develop potential changemaker teachers to serve as teaching assistants for middle school students.

Project Type

Teach for Thailand Project

Performances 2024

Thaioil Group has allocated budgets to develop teachers to be changemakers for the sixth consecutive year. In 2024, the Company funded two teaching assistants for science and mathematics subjects in junior high school at Wat Mano Rom School, Sriracha District, Chonburi Province, which is located close to the Thaioil refinery. This project was conducted for one year and achieved positive performance evaluations, including:
1. Taught a total of 489 students in science and mathematics subjects during the 2024 academic year.
2. Compared to the average post-test score (28.51) and the average pre-test score (27.57) in the first semester, there was an increase in the student’s academic performance, personality traits, and essential skills. Furthermore, it also found that changemakers fostered and developed student’s personality traits in terms of perseverance, growth mindset, and the ownership of their learning. Similarly, they also contributed to and improved student’s essential skills, consisting of critical thinking, collaboration, and self-awareness.
3. Adopted technologies in the teaching materials, such as videos, board games, and online programs. This resulted in the students’ development and foster positive attitude towards the studied subject through demonstrating the ability to answer questions, classify examples, and collaborate well in team with their classmates.
4. Majority of the students recognized the dedication and significant development in work performance of changemaker teachers.
5. The school director and staff were satisfied with the teaching performance of the changemakers. Their overall satisfaction score was 9.1 out of 10. Furthermore, 92 percent of respondents acknowledged that the changemakers were competent and possessed appropriate characteristics for performing the work in challenging contexts. Moreover, changemakers regularly exchange their knowledge with the students.

PTT Group Model School Project and CONNEXT ED Project

Objective

To support basic education and develop leaders in the educational sector, to become a significant force driving education through knowledge exchange, learning, and the development of schools with school executives.

Project Type

PTT Group Model School Project and CONNEXT ED Project

Performances 2024

In 2024, Thaioil Group conducted various activities under the PTT Group Model School and CONNEXT ED projects:
1. Artificial Intelligence (AI) Readiness Program: This program aims to encourage learning and provide knowledge for supporting the understanding of youth in Artificial Intelligence (AI) technology and the Internet of Things. Moreover, it also aims to encourage youth to recognize the importance of technology, including its impact on the nation’s development in terms of economy, society, education, and culture. As well as this project was also expected to inspire the next generation to pursue studies in science and technology, with the purpose of developing expertise in AI and IoT, which are the key drivers for the country’s future technological advancement. There are 2 schools under CONNEXTED project, with 6 participants.
2. Thaioil Group Volunteer Spirit Program aims to promote the employees to engage in volunteer activities by providing waste separation knowledge and participating in football, futsal, table tennis, and volleyball clinics for students in the communities surrounding the refinery.

Forest Planting Project for the benefits of Carbon Credits

Objective

To support the forest restoration and conservation target, which can extend Thailand’s green areas and reduce greenhouse gas emissions through enhancing carbon dioxide sequestration, coupled with improving the quality of life for communities surrounding the target forest areas.

Project Type

Forest Planting Project for the benefits of Carbon Credits

Performances 2024

Thaioil Group implemented reforestation projects for carbon credit benefits, covering a total of 8,656.22 rai as the following detail.
1. 8,300 rai of terrestrial forest in Phrae Province in collaboration with the Royal Forest Department.
2. 356.22 rai of mangrove forest in Chon Buri and Trang Provinces in collaboration with the Department of Marine and Coastal Resources.

These projects were expected to capture 88,000 tons of carbon dioxide equivalent over the 10-year project period and enhance biodiversity by selecting and planting local tree species in target forest areas.

In addition, to continue the implementation of reforestation and forest conservation, Thaioil Group has also supported the establishment of 4 community enterprises, which it does not only aim to distribute local incomes and encourage community economy, but it also aims to enhance the knowledge regarding to forest conservation. Furthermore, the Company also supports improving local quality of life through promoting job creation and advocating in educational, social, and cultural development in the communities.

Thaioil CE WE GO Project: Promoting Circular Economy Values

Objective

To raise awareness of energy and environmental conservation among employees and foster positive coexistence behaviors within the organization.

Project Type

Thaioil CE WE GO Project: Promoting Circular Economy Values

Performances 2024

In 2024, Thaioil Group conducted activities under the “Thaioil CE WE GO” project, as follows:

1. Organized 2 sessions of Green Office training for the Auditorium Building and the Thaioil Health and Learning Center, with the aim of preparing for registration of Green Office certification with the Pollution Control Department for both buildings in 2025. 
2. Conducted a study tour project with 10 representative households and the Ban Na Kao community committee by visiting the waste management model community project in Rayong Province.

Thaioil CE School Model

Objective

To raise awareness and contribute knowledge with students and youths on the importance of the Circular Economy (CE) and relevant topics.

Project Type

Thaioil CE School Model

Performances 2025

Thaioil Group has been implementing this project since 2022 to transfer systematic waste management knowledge to schools surrounding the refinery. In 2025, the program provided educational materials, supported waste sorting equipment, and featured training sessions by experts from the Thailand Greenhouse Gas Management Organization (TGO). Additionally, an upcycling invention contest was held to encourage the practical application of Circular Economy (CE) principles in daily life. In 2025, the project expanded its reach from 9 to 10 schools by adding Laem Chabang 3 Municipal School, aiming to cultivate a mindset of systematic waste management and promote the sustainable and efficient use of resources.

The Eco-Journey Project: Kasetsart University - Thaioil

Objective

To promote environmental education among youth, ensuring an accurate understanding of ecosystems while instilling a deep sense of conscience for nature and environmental conservation.

Project Type

The Eco-Journey Project: Kasetsart University – Thaioil

Performances 2025

Thaioil Group, in collaboration with the Faculty of Science at Kasetsart University (Si Racha Campus), promotes environmental education for youth living around the refinery. The program engages participants in exploring nature trails at Khao Nam Sap, located near the university. This experiential learning initiative combines classroom instruction with fieldwork, allowing participants to study forest ecosystems, flora, fauna, and the complex relationships between living organisms. Furthermore, the project aims to instill a deep sense of environmental conscience and a commitment to nature conservation.

TOP Green X Youth Environmental Conservation Project 2025: Empowering Youth in Forest Restoration and Adding Value to Recyclable Waste

Objective

To enhance understanding and awareness of environmental problems, especially the impacts of plastic waste on nature and ecosystems.

Project Type

TOP Green X Youth Environmental Conservation Project 2025: Empowering Youth in Forest Restoration and Adding Value to Recyclable Waste

Performances 2025

Thaioil Group, in collaboration with Laem Chabang Municipality, organized an initiative to enhance environmental knowledge and skills for youths from 10 surrounding communities, students from Laem Chabang 3 Municipal School, and students from the Faculty of Science, Kasetsart University (Si Rracha Campus). The program utilized hands-on learning processes, including tree planting for green space restoration, educational sessions on carbon credits, and DIY upcycling workshops to create plant pots from waste materials. Additionally, a creative social media campaign contest was held to encourage environmental advocacy among the younger generation.

Aquatic Species Project in collaboration with the fishery communities

Objective

To restore the marine and coastal ecosystems and resources to a state of abundance.

Project Type

Aquatic Species Project in collaboration with the fishery communities

Performances 2025

Thaioil Group actively promotes the conservation of Thai seas through the “Releasing Fish Back to Nature: Restoring Ocean Balance” initiative, held at the Ban Ao Udom Fishery Model Community. To restore the marine ecosystem and natural balance, 3,000 barramundi fingerlings were released into nursing cages and the open sea in areas equipped with fish homes (artificial habitats) and artificial reefs. The project also included communication activities to educate and encourage the public and local communities to participate in the sustainable conservation of marine resources.

Educational Project

Objective

To provide educational opportunities for youth in Laem Chabang City Municipality and Si Racha District, while empowering them to develop their potential and contribute to society as key drivers of the country’s future development.

Project Type

Educational Project

Performances 2025

Thaioil Group provided 252 scholarships to primary, secondary, vocational, and university students who behaved well and were diligent in their studies. Additionally, the Company also provided 11 educational funds under the Thaioil Group fund to educational institutions, which are located in Laem Chabang City Municipality and Si Racha District. This fund has a total contribution amounting to 1,900,000 THB. Additionally, this fund is part of an annual program that Thaioil Group has consistently implemented to support education and foster academic excellence.

Community Economic Support Project

Objective

To enhance community capabilities through job creation projects in the Si Racha District at the Community Health and Education Center.

Project Type

Community Economic Support Project

Performances 2025

In 2025, Thaioil Group conducted community economic development activities as part of the Community Economic Promotion Project. The activities include:

1. The “Refinery Community Products” project, aimed at promoting careers and generating income for the “Loma Laem Chabang Community Enterprise.” The initiative involved participating in the KU Green Connect: Enactus & SX Exploration program to enhance entrepreneurial and marketing knowledge. Furthermore, it served as a platform to showcase Thai culture and community identity to international students at Kasetsart University, strengthening the local economy while ensuring the sustainable preservation of local heritage.
2. The “Supplementary Occupation, Increased Income Project”, aimed at enhancing the potential of the Loma Laem Chabang Community Enterprise. A study visit and operational exchange were organized at the Noen Krabok Women’s Farm Community Enterprise in Bo Win Sub-district, Si Racha District, Chonburi Province, on April 28, 2025. This initiative was designed to broaden knowledge, share experiences, and strengthen vocational capabilities, ultimately fostering community resilience and long-term sustainability.

100,000 km. Walk and Run Project

Objective

To encourage communities to engage in walking and running activities to enhance their physical health. The Company also shared healthcare knowledge for participants to apply to themselves as well as their families.

Project Type

100,000 km. Walk and Run Project

Performances 2025

Thaioil Group invited the community surrounding the refinery to engage in physical activity through walking and running, with a goal to collectively achieve 100,000 kilometers. Participants recorded their distances using the “Step Counter” application. Additionally, there were a total of 175 participants taking part in the activity, with twoscheduled follow-up events at the Thaioil Health and Learning Center for the Community to monitor progress.

Dental Health Promotion Project for Schools Around Thaioil Group

Objective

To promote oral health for students.

Project Type

Dental Health Promotion Project for Schools Around Thaioil Group

Performances 2025

Thaioil Group has provided dental services, including oral health check-ups, fillings, extractions, fissure sealants, fluoride coatings, and tartar removal. The initiative aims to promote cavity prevention and enhance oral health for a total of 5,500 students in grades 1 to 6 across eight schools in the Thaioil Group’s surrounding communities.

Project to Support Victims of Natural Disasters and Emergencies

Objective

To help and support the victims of natural disasters and emergencies in collaboration with the PTT Group.

Background

Thaioil Group has collaborated with the PTT Group to proactively aid affected individuals and alleviate the suffering of people affected by various natural disasters and other emergencies.

Approach

1. Monitor natural disaster situations throughout the country. 2. Provide assistance within the Company’s operational areas. 3. Coordinate with PTT Public Company Limited to extend assistance to areas outside of the Company’s operational areas.

Performance 2025

Thaioil Group, in collaboration with PTT Group, provides timely assistance to disaster victims nationwide. Support in the form of survival bags, beverages, and drinking water was provided for the following incidents:
1. Rescue personnel at the State Audit Office (SAO) building incident.
2. Those affected by the unrest along the Thai-Cambodian border.
3. Victims of flooding caused by Typhoon “Wipha” in Nan Province.
4. Flood victims in Sing Buri Province.
5. Flood victims in the Southern region of Thailand.

The “You Initiate… We Fulfil” Project: Year 5

Objective

Develop a volunteer culture by emphasizing employee engagement and leveraging staff competencies to develop projects that align with the company’s social responsibility direction.

Background

Thaioil Group is committed to stimulating and instilling a volunteer spirit among employees in accordance with the corporate value of “Social Responsibility.” To this end, the company has implemented the “You Initiate… We Fulfill” project, inviting executives, employees, and contractors to actively participate in social responsibility activities.

Approach

1. Publicize the projects in April 2025
2. Encourage employees to execute projects between May and November 2025 across four key pillars: 1) Health and Sports, 2) Energy and Environment, 3) Education, and 4) Social and Culture.
3. Provide a dedicated volunteer budget of 20,000 Baht per department to support these initiatives.

Performance 2025

Thaioil Group implemented social initiatives under the “Team Spirit for All” concept, inviting executives, employees, and contractors to lead social responsibility activities based on their specialized knowledge and expertise. To support these efforts, the company provided a dedicated budget of 20,000 Baht per department for necessary materials and equipment. The program saw participation from 36 departments and over 1,170 individuals, resulting in a total of 25 projects across various dimensions. These included utility system improvements, knowledge sharing on manufacturing cleaning products, and environmental restoration, such as electrical and facility repairs, producing medical supplies and handicrafts for the community, beach cleanups, enhancing food sources for wildlife, and landscape restoration—all aimed at fostering sustainable benefits for the community and the environment.

Sustainable Energy for Healthcare and Education

Objective

To enhance energy security through leveraging engineering expertise and energy management knowledge to implement solar power generation projects for hospitals and schools, effectively reducing their electricity cost burdens and allowing those savings to be reinvested into further social development initiatives while simultaneously reducing greenhouse gas emissions.

Background

Thaioil Group has utilized its engineering knowledge and expertise, which includes energy management experience, to execute solar power generation system installations for public health agencies and educational institutions since 2018. The project aims to encourage public health agencies and educational institutions to access alternative energy, reduce electricity costs, reinvest the savings into social initiatives, coupled with the reduction of greenhouse gas emissions.

Approach

1. Study the potential and suitability of the target areas through the expertise of Thaioil’s engineers.
2. Prepare a report of feasibility and investment cost-effectiveness analysis, including Social Return on Investment (SROI).
3. Propose the project and its budget for approval
4. Select supplier who will install solar power generation system for screened public health agencies and educational institutions
5. Monitor system efficiency, transfer technical maintenance knowledge, and deliver the completed project
6. Continuously monitor and evaluate the project, as well as apply for permits (in case the solar power system has to connect with the Provincial Electricity Authority’s transmission network).

Performance 2025

In 2025, solar power generation systems were installed at 1 hospital in Surat Thani Province, as well as at 2 sub-district health promotion hospitals and four Border Patrol Police schools in Tak Province, with a total capacity of 122.1 kW. The implementation of this project resulted in annual savings of 1.3 million THB. The savings from reduced electricity costs were used to purchase medical equipment and creating educational opportunities for schools in remote areas. Additionally, this project was also able to reduce greenhouse gas emissions, which equal 83 tons of carbon dioxide per year.

Project for mitigating the oil spill impacts

Objective

To restore marine and coastal natural resources, as well as to enhance biodiversity.

Background

In response to the crude oil spill incident at the Single Buoy Mooring (SBM-2), the Company has taken proactive measures to mitigate impacts on affected stakeholders. This includes providing relief to those affected, as well as rehabilitating marine natural resources, biodiversity, and the local economy within the impacted areas.

Approach

1.Conducting systematic measurements and continuous monitoring of marine environmental quality parameters.
2. Establishing a dedicated task force to develop and implement a robust rehabilitation plan for marine and coastal ecosystems as well as marine life and biodiversity in all affected areas.

Performance 2025

Following the crude oil spill during a transfer operation at the Company’s Single Buoy Mooring (SBM-2) on September 3, 2023, and upon the full completion of compensation for affected parties, a task force was appointed. This task force was tasked with developing a restoration plan and scope for natural resources, marine and coastal ecosystems, and biodiversity in the impacted areas. The process involved gathering input from academics, government agencies, affected stakeholders, independent organizations, and various NGOs, while coordinating closely with relevant public agencies. This resulted in the presentation of a 3-year Environmental, Marine Ecosystem, Economic, and Social Promotion (Restoration) Plan, comprising a total of 20 projects, 18 of which have already been implemented.

Laem Chabang Youth Training for Jump Rope Championship Project

Objectives

1. To encourage youth to engage in physical exercise, enhancing their bone mass, muscle strength, and reducing the risks of heart disease for improved physical health
2. Encourage youth to exercise with jumping rope for using free time beneficially

Background

Thaioil Group has initiated the “Laem Chabang Youth Training for Jump Rope Championship Project” in collaboration with the Heart Foundation of Thailand Office under the Royal Patronage since 2011. This project aims to support and encourage physical activity among youth from 8 schools within Laem Chabang City Municipality. Furthermore, the project has contributed to the schools’ and the municipality’s reputation through participation in the Royal Trophy competitions organized by the Jump Rope Association of Thailand.

Approach:

1.Organize a meeting with the school director and physical education teachers from the 8 schools surrounding the refinery in Laem Chabang City Municipality, including Wat Mai Noen Phayom school, Wat Manorom school, Wat Laemchabang School, Baanchakyaichin school, Laemchabang 1 Municipality school, Laemchabang 2 Municipality school, Wat Ban Na (Fin Witthayakom), and Boonjitwitthaya School.
2.Plan the project and propose its budget for approval.
3.Conduct a training camp to develop the skills and potential of jump rope athletes, aiming to select participants for the national-level Royal Trophy competition.
4.Foster new youth athletes to participate in jump rope competitions with the purpose of enhancing the reputation of Laem Chabang City Municipality.

Performance 2025

1. The Company hosted the 1st “Thaioil NexGen Jump Rope Tournament 2025” from February 24–28, 2025, under the theme “Developing New Athletes into Rope Skipping Champions.” This tournament aimed to identify and prepare promising new talent for the 2025 Royal Trophy Jump Rope Competition (Newcomer Category).
2. Supported athletes to participate in the 3rd Jump Rope Championship competition for the Newcomer category on 7-8 June 2025, at the Prachaniwet Sport Center, Bangkok. As a result, they won a total of 14 gold medals, 12 silver medals, and 11 bronze medals. Additionally, Boonjitwitthaya School also won 3 royal trophies of Her Royal Highness Princess Maha Chakri Sirindhorn, while Wat Mai Noen Phayom School received one Royal Trophy, and both schools achieved the second-highest overall score.
3. Implemented the 2025 Skill Development for Jump Rope Champions Project to qualify and train athletes from eight participating schools, located near Thaioil, for national-level Royal Trophy competitions.
4. Supported over 60 local youth athletes to join the 16th Thailand’s National Jump Rope Competition on November 15-16, 2024, at the Nonthaburi Provincial Administrative Organization Gymnasium. Aimed at promoting physical health and encouraging productive use of free time among youth, the Company sponsored two teams: Thaioil Jump Rope and Thaioil New Wave. With over 60 youth participants, the teams successfully secured one Royal Trophy from Her Royal Highness Princess Maha Chakri Sirindhorn.
5. The Laem Chabang jump rope athletes were selected as national representatives to compete in several prestigious international tournaments, including the 9th Korea Open Rope Skipping Championship in South Korea, the UJR World Championship and World Cup 2025 in the People’s Republic of China, and the World Jump Rope Championships 2025 in Japan. Participation in these global stages represents a significant milestone in bringing pride and international recognition to both Thailand and the local communities surrounding the refinery.

The Responses to COVID-19 Pandemic Situation

  • Implemented the COVID-19 surveillance plan covering 3 phases. In Phase 0, or no infected cases, the prevention and surveillance measure will be emphasized. Phase 1 begins when there are suspected or infected cases in Thaioil Group but no impacts on business operations. The Company will then focus on controlling and limiting the spread of the virus. Phase 2 refers to the large number of infected cases in Thaioil Group and creating impacts on business operations. In this case, Thaioil Group will focus on relieving and recovering while the Emergency Control and Business Continuity Center will be activated.

Safety Knowledge Sharing and Engagement

  • Enhanced knowledge, capabilities, and skills of employees and contractors through a safety training center to provide knowledge on safety theory and practice. the Company also evaluated the capability of the employees and contractors, who performed safety-related tasks, and had a continuous Permit to Work System from the previous year. Meanwhile, the roles in emergency and crisis management were also assessed through the Competency Assurance System.
  • Upgraded safety culture in the workplace through Behavior Based Safety (BBS) training program. The BBS training course was designed to train the targeted employees (Train for the Trainers) in order to disseminate knowledge and act as role models for the other employees and contractors. Consequently, safety behavior will be observed, and the operation will be halted, particularly when unsafe conditions arise.
  • Provided training on the Permit to Work System and Clearance Certificate Signatory for those who are involved in performing duties in the work permit system.
  • Organized the “30-60-90 Days with No Harm, No Leak” to strongly emphasize and simulate employees and contractors, raising awareness of safety in the workplace. The goal is to achieve zero Medical Treatment Case (MTC).
  • Organized Thaioil Group QSHE Day 2023 to promote the safety culture for the employees and contractors by awarding and certifying those who have outstanding 2023 QSHE performance. The Company also organized exhibition booths to provide employees and contractors with safety knowledge and awareness.
  • Incorporated Line of Fire into the 12 Life Saving Rule in accordance with the International Association of Oil & Gas Producers (IOGP) guideline.
  • Raised awareness of potential hazards, such as the line of fire, and strictly ensured compliance with the 12 life-saving rules. The Company also encouraged workers to submit Potential Incident Report (PIR), emphasizing the significance of unsafe act and condition as specified in the pre-incident prevention measure.
  • Developed a Contractor Training Matrix to ensure that contractors, who perform the work in operational areas of Thaioil Group, have the suitable knowledge and skills relevant to their job positions.
  • Conducted training and knowledge sharing on safety, occupational health, and workplace environment for new employees and contractors. This aims to build awareness of basic risks and hazards in Thaioil Group’s operational areas, to recognize and understand the safety measures, and to mitigate risks in operations. The training courses include basic safety in refinery, basic firefighting, safety in confined space, and first aid.
  • Conducted specific safety knowledge training for employees and contractors to improve operational effectiveness, ensure safety, and comply with safety requirements. For instance, Authorized Engineer/Authorized Gas Safety Inspector (AE/AGSI) course, Clearance Certificate Signatory course, Authorized Gas Tester course, and electricity safety course.
  • Thaioil Group consistently prioritizes on a proactive strategy. The Company elevated the Management Walk and Talk activity to GEMBA Walk. The management executives conducted a site visit to inspect key activities by engaging in conversations with specific questions. This aims to create mutual understandings and to recommend safety practices in the activities that may pose risks on personal and process safety. The QSHE Rollout activity has been consistently organized with a focus on providing more accessibility. In addition, the campaign to raise awareness about quality, security, safety, and the environment for workers in all operational areas has been expanded to include all operational areas and encourage worker engagement. Moreover, Thaioil Group has applied appropriate management systems to achieve the sustainable development. The performance of such activities is regularly reported and discussed with the management executives for resolutions. Likewise, the annual management review is performed to determine improvement areas and develop annual plans, along with the regular communication with the employees to ensure effective and impactful practices.

Safety Management Improvements

  • Reviewed Permit to Work System, especially the work permits related to heat and ignition (Hot Work). Additionally, all relevant checklists were reviewed to ensure alignment with international best practices.
  • Conducted safety maturity assessment. In 2023, the Company scored 4.16 out of a total of 5.00 points. Thaioil Group prepared the Safety Culture Development Plan in 2023 to build awareness for employees and contractors towards an accident-free organization.
  • Reviewed Permit to Work Inspection by the Area Operation Officers and Safety Audit team to ensure that the practices are aligned with the requirements specified in the permits.
  • Conducted the evaluation of Health Performance Indicators based on the standards of International Association of Oil and Gas Producers (IOGP). In 2023, the Company scored 3.85 out of a total of 4.00 points. The Company commits to improve the development plan for management systems in line with criteria and requirements of the IOGP.
  • Enhanced contractor safety management to align with international best practices and conducted annual contractor safety performance evaluation by the third party. The evaluation covered safety management system and operational performance to evaluate the contractor. The contractor can be categorized by a color code, including green, yellow, and red. This code serves as the criteria for deciding whether the Company should continue doing business with contractors or not. In the case that the contractors categorized in the low level (yellow and red), the Company will allow them to present corrective action plan to remedy the identified issues to comply with requirements within a specific timeframe. In 2023, the Company has updated the “Contract SSHE Bidding and Close Out Evaluation”.
  • Reviewed safety practices for activities or tasks with accident risks, such as heavy lifting with crane, scaffolding, or electric device utilizing within the refinery area. Additionally, the Company conducted training and communicated to relevant employees and contractors to ensure compliance with the requirements.
  • Upgraded notification systems on abnormal or emergency situations for emergency personnel and relevant officers through SMS systems that will promptly notify relevant parties to provide the emergency response efficiently and on a timely manner.
  • Upgraded notification protocols for extreme weather, specifically thunderstorms within a 5-kilometer radius. This is to alert employees to prepare and implement specified safety measures. It also involves notifying emergency response teams for a prompt response in the event of a fire, particularly around the rim seal fire.
  • Reviewed Pre-Incident Plan at levels 1 and 2 to align with international situations and standards, conducted drills as planned to prepare an effective response in emergency situations. In 2023, the Company developed the pre-incident plan at level 2 to support the new production unit of CFP project.
  • Reviewed Emergency and Crisis Management Manual and prepared the emergency response plan to cover environmental and community emergencies. This aims to prepare for CFP project, which is expected to undergo commissioning and start-up in the future. 

Occupational Health and Safety Risk Assessment

  • Reviewed the identification and assessment of risks and hazards assessment that may cause major incidents. The Company identified the control and preventive measures, with constant monitoring for effectiveness. This also involved safety inspections, performance analysis, and provision of the corrective and preventive actions to avoid recurrence for employees and contractors. The safety performance was reviewed monthly and monitored by the management executives.
  • Assessed risks and hazards assessment with high severity and reviewed safety control and preventive measures. The proactive plans and measures on safety and security were established at different levels (defense in depth), covering all high severity risks and hazards, especially chemical spills. The emergency drill of each emergency level was conducted and further developed towards the crisis management level together with external parties and local governments. This process helps prevent and mitigate business impacts, ensuring that Thaioil Group can consistently manage and maintain severe risks at acceptable levels.
  • Reviewed major accident event profiles to be aligned with the risks. The Company also reviewed and conducted emergency and crisis drills, as well as the emergency response plan, according to international best practices. Moreover, the improvements were made to the Emergency Control Center to ensure it is up-to-date and more efficient.
  • Reviewed accident and incident management practices to cover every incident type, such work-related injuries, occupational illnesses, near-miss events, and other incidents including incidents in production processes. The Company also conducted severity and risk assessment through the Risk Assessment Matrix to select the appropriate investigating team and method based on the incident’s severity and risk level. To avoid recurrence, the root cause and appropriate preventative measures were implemented.

Operational Excellence to Business Excellence (O2Bx) Strategy

  • Adjusted the O2Bx strategy to become a world-class refinery and reviewed the corporate safety targets to align with the new strategy – No Harm, No Leak, Goal Zero.
  • Revisited the 5-year Occupational Health, Safety, Emergency and Crisis Management Plan to align with the internal and external environment, risks, the new strategic plans, and new corporate targets.
  • Assigned the management executives to present case studies and significant safety issues from both internal and external sources at the monthly Board Meeting to continuously develop and improve Company’s safety measures.
  • Organized an on-site visit with the CEO and President and the management executives during normal operations, maintenance downtime, and construction period to encourage the workers, demonstrate commitments on safe working conditions, and be the safety role model.

SMILE Activity

Working with the right to health

Thaioil Group has managed and prevented the COVID-19 pandemic through continuous healthcare measures for employees until they recover and safely enable a return to work. The Company’s measures and policies are aligned with the government guidelines. Additionally, the Company has ensured high efficiency in providing safety and instilling confidence among employees, contractors, business partners, and stakeholders of Thaioil Group. The Work From Home Policy has also been established to grant the employee’s rights to choose their most suitable work lifestyle.

Furthermore, the Company has developed the “People First for Employee Support Policy” to respond to the employees’ needs. Meanwhile, the Company provides the assistances to the employees and their families, as well as members of the Thaioil Group Retired Employee Club, who may face the challenges in respect to financial concerns, legal issues, physical health, mental health, alcohol and drug problems, marital problems, illness of family members, or childcare problems, etc. The support was provided in the form of benefits, welfare, or non-welfare. This program aids eligible individuals 24 hours a day, seven day a week.

Improving mental health care

Improving mental health care: The Company implemented the “5 Happiness Project” to enhance the New Normal Work Life and to enhance understanding of their own rights, including employee care and benefits for employees and retired employees. The key projects in “5 Happiness Project” are:

Ensuring education for all

Ensuring education for all: The Company provided knowledge and awareness on human rights for employees through the Human Rights E-Learning course in the “Thaioil Academy Application.” For other stakeholders, the Company consistently organized workshops and activities to enhance the understanding and knowledge of human rights, for example, the human rights lecture in Supplier Seminar 2023 at the Thaioil Conference Hall in Sriracha, Chonburi. Also, The Company raises awareness of human rights through the acknowledgment of the Thaioil Group’s Supplier Code of Conduct.

Collaborated with PTT Group to organize the PTT Group CG Day 2023 under the theme “Good to Great: CG Empowering for the Future”

Collaborated with PTT Group to organize the PTT Group CG Day 2023 under the theme “Good to Great: CG Empowering for the Future”. The event was held in a hybrid event to promote and empower the good corporate governance practices of the PTT Group, emphasizing employees at all levels within the PTT Group to comply with the principles of good corporate governance in their work. The event attendees included the Board of Directors, management, employees, and business partner representatives. In addition, regulatory bod representatives, such as from the National Anti-Corruption Commission (NACC), were also invited. The event attracted over 400 attendees, including partners, clients, and employees who were joined the live streaming on the event’s website.

Conducted the 2023 GRC Culture Survey

Conducted the 2023 GRC Culture Survey to assess the organizational culture in terms of integration of good corporate governance, risk management, internal control, and the compliance with laws, regulations, and requirements (GRC). The survey results will be analysed to develop plans for promoting and enhancing corporate governance effectiveness in the future.

Communicated the principles of good corporate governance

Communicated the principles of good corporate governance, business ethics, and anti-corruption through internal communication channels throughout the year, such as the GRC Corner column in the Akanee magazine (a corporate internal magazine) and the GRC Newsletter, with a total of 12 times.

Communicated the No Gift Policy

Communicated the No Gift Policy to all employees through internal communication channels in various forms, such as video clips and E-newsletters. The “Request letter to prevent giving gifts to executives and employees of Thaioil Group” was sent to the suppliers, customers, financial institutions, and other business partners to avoid and prevent any cause that may lead to actions that violate Anti-Fraud Policy.

Improved electronic learning media (E-learning)

Improved electronic learning media (E-learning), including CG Orientation E-learning for new employees, covering the principles of good corporate governance, ethical business conduct, and anti-corruption. Also, Anti-Fraud E-learning for current employees was improved to provide knowledge on the origins of fraud and preventive measures to avoid fraud within the Company.

Conducted activities to provide knowledge

Conducted activities to provide knowledge and promote transparent and fair work practices throughout the year of 2023. For instance, the Company organized the Compliance & CG Talk activity on the topic of Anti-Money Laundering and Countering the Financing of Terrorism, lectured by experienced legal professionals from the Anti-Money Laundering Office. The Law Focus activity was organized with the topic of Anti-Money Laundering and Combating the Financing of Terrorism, lectured by executives from the Export-Import Bank of Thailand (EXIM Bank). The GRC in Action event was held at the CEO Townhall during the 2nd and 4th quarters. The Good to Great CG Contest was organized to share the working approach that can promote CG practices in their own way.

SAP ECC

Thaioil Group upgraded the software and hardware of the current Enterprise Resource Planning (ERP) system, or called SAP ECC, to ensure its function remained efficient. This upgrade is a part of the preparedness before transitioning to the ERP system to SAP S/4 HANA in 2027.

Prominence Enhancement

Thaioil Group enhanced a data collection system for the sale of products. The system gathers information from different perspectives, such as types of suppliers, prices, sale volume, sale periods, and payment methods. These data will be used to analyze pricing structure and support the decision-making in the sale approaches for each supplier. This will increase the chances for the Company to generate higher profits in different and fluctuating markets. 

Predictive Maintenance Analytics

Thaioil Group developed a data processing system to maintain the key machinery and equipment in the production process. The process will predict the likelihood of damage to the machines and provide prevention in advance. This helps avoid unplanned shutdowns and maintenance while reducing the risks associated with such damages.  

JSKem Pte Ltd & TOPNEXT India Private Limited

JSKem Pte Ltd & TOPNEXT India Private Limited

www.jskem.com.sg 

TOPNEXT acquired a 60% stake in JSKEM to expand its business in the distribution of solvents and chemicals in Singapore and India. TOPNEXT India Private Limited (TX India) was established in 2021.

Enter the website

PT. Tirta Surya Raya

PT. Tirta Surya Raya

TOPNEXT (TX) has acquired a 67% stake in PT. Tirta Surya Raya, which was established in 2019 as a distributor of solvents and chemicals in Indonesia. The company is headquartered in Tangerang, Indonesia.

TOP Solvent Myanmar

TOP Solvent Myanmar

In 2017, TOP Solvent Myanmar  (TSMM) established a representative office in Myanmar under the name TOP Solvent Company Limited (Myanmar Representative Office). This office serves as the company’s representative for liaising with customers and business partners to distribute petroleum and chemical products, as well as other petroleum-related products.

TOP Solvent (Vietnam) Limited Liability

TOP Solvent (Vietnam) Limited Liability

TOP Solvent (Vietnam) Limited (TSV) was founded on November 2, 2009, TOP Solvent (Vietnam) is 100 percent owned by TOPNEXT International Co., Ltd. and marks Thaioil’s first overseas investment. The company provides a diverse range of solvents and chemicals for industries including paint, coatings, thinners, adhesives, binders, electronic printing inks, cleaning agents, vegetable oil extraction, and the chemical industry. It operates warehouses in the Go Dau Industrial Zone in Dong Nai Province (southern Vietnam) and Hai Phong (northern Vietnam).

Sak Chaisidhi Company Limited

Sak Chaisidhi Company Limited

Sak Chaisidhi Company Limited (SAKC) is primarily owned by TOPNEXT International Co., Ltd., which is located in the Map Ta Phut Industrial Estate in Rayong Province. The company specializes in manufacturing high-quality hydrocarbon solvents for a range of industries, including paint, automotive rubber, adhesives, vegetable oils, foam, plastics, and copper mining.