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Human & Organization Development

Human & Organization Development

Challenges, Risks,

and Impacts

Over the past year, Thaioil Group has encountered several challenges, including economic competitiveness, sustainability or ESG (Environmental, Social, and Governance) directions and polices, as well as rapid digital and technological transformation. The Company is currently undertaking a significant business transformation under the 2S1P strategic plan which aims to restructure the business portfolio towards new, high-value and low-carbon businesses in order to create future growth opportunities, while expanding its businesses into high potential markets in Southeast Asia and South Asia.

In light of this context, the Company is accelerating the enhancement of its readiness regarding both organizational structure and workforce. This aims to boost efficiency and competitiveness in support of overseas market expansion. Key emphasis is placed on the continuous development of knowledge and skills for all employees, alongside the cultivation of essential new competencies. This ensures preparation to support further business expansion, cope with challenges, and drive the business to secure sustainable and stable business growth.

Furthermore, the current labor market is highly competitive regarding the attraction of high potential talent. Therefore, the Company prioritizes creating a good employee experience to retain staff and foster engagement between employees and the Company. At the same time, Thaioil Group places an emphasis on the diversity among its employees, including gender, age, and working location. Consequently, human resource strategies and action plans have been formulated with diversity in mind to ensure that employee needs are met comprehensively and thoroughly, serving as a vital foundation for driving the Company towards success.

Commitments and Targets

Thaioil Group prioritizes the preparation and development of its workforce to drive the business towards achieving the organization’s long-term goals under the concept “STAY FIRM, drive SMART FUTURE With People Power”. Therefore, the Company has established a comprehensive Human Resources and Organizational Strategy as part of its 5 Years Business Plan, covering the following three dimensions:

  1. People Capacity
    The Company has designed its organizational structure and strategic workforce planning to align with future business growth strategies. This includes optimizing human resource management systems to be suitable and consistent with the operations of each specific business, thereby supporting current and future business operations sustainably.
  2. People Capability

    The Company places great importance on developing its workforce to possess knowledge and capabilities aligned with the 2S1P strategy. The focus is on learning through on-the-job training, coupled with gaining experience from experts both inside and outside the organization, particularly for positions critical to business strategy. This also includes developing personnel to prepare for the replacement of retiring staffs to ensure that the Company can operate efficiently and expand its growth with stability.

  3. People Experience

    Recognizing that personnel are a key factor in driving strategy, the Company focuses on creating a positive experience for employees throughout their employment lifecycle to foster engagement and workplace happiness. To this end, the Company implements engagement enhancement projects that emphasize employee participation and create a good working environment by integrating DEI (Diversity, Equity and Inclusion) principles into the way of working to promote equality and seamless collaboration. This enables a continuous work-life balance leading to an enhanced quality of life and sustainable happiness for employees.

Targets

Workforce Planning:
Workforce productivity level in comparison with industry peers

2025 Target

1st Quartile

Quartile

Long-term Target 2030

1st Quartile

Quartile

Human Capital Development:
Readiness of core competency

2025 Target

More than or equal

95

Percent

Long-term Target 2030

More than or equal

95

Percent

Creating a positive employee experience:
Employee engagement

2025 Target

More than or equal

75

Percent

Long-term Target 2030

More than or equal

80

Percent

Human Capital Index (HCI)

2025 Target

More than or equal

86

Score

Long-term Target 2030

More than or equal

90

Score

Management Approach

and Performance

Management Approach Thaioil Group has analyzed its internal and external environments to address challenges, risks, and impacts, as well as requirements on human resources and organization. The Company has established short-term and long-term strategic plans to drive the Company’s strategies sustainably to achieve the targets. The key performances of 2025 are outlined below:

People Capacity

Thaioil Group prioritizes strategic workforce planning in alignment with the business strategies and directions to maintain a competitive workforce compared to industry peers. The Company also emphasizes proactive recruitment and hiring through the “Recruitment Value” strategy, which enhances workforce planning in three areas as follows:

    • TOP Employer Recognition
      The Company communicates its Employer Value Proposition (EVP) through comprehensive recruitment marketing campaigns and proactive activities, such as Open House events and Digital Campaigns. These initiatives aim to elevate the corporate image as an Employer of Choice to effectively attract and select high quality personnel for the organization.
    • Intelligence Recruitment Process
      The Company applies the Digital Recruitment Platform and Artificial Intelligence (AI) into its recruitment process in order to maximize speed, efficiency, and selection accuracy. In addition, the Company fosters positive experience for new hires through New Employee Onboarding Engagement activities.
    • Partnership for Sustainable Sourcing 

      The Company establishes Strategic Partnership with external institutions and organizations to strengthen and expand the source of potential talent in the long term. Key initiatives include the Scholarship Program and the enhancement of Internship Effectiveness to support continuous business growth.

Strategic Workforce Planning and Talent Acquisition Performance in 2025
Human Capital
• Ability to recruit employees in desired positions 88%
• Workforce productivity level in the 1st Quartile in comparison with industry peers
• New hires 130 new employees
• Percentage of open positions filled by internal candidates (Internal Hires) 97.44%
Social and Relationship Capital
• Provided scholarship to 95 students from 31 academic institutions
• Provided internship opportunities to 75 students from 23 academic institutions
• Shared knowledge and career advice to students at 44 academic institutions

People Capability

Thaioil Group recognizes that personnel are the key driving force directly impacting business outcomes and corporate sustainability. Therefore, the Company places great importance on the continuous development of employees’ skills, knowledge and capabilities to ensure readiness at every stage of their career. This aims to equip employees with the potential to support the Company’s strategic direction and create valuable outcomes. The development of organizational and personnel capabilities covers four key areas as follows:

(1) Competency Development based on the 70-20-10 Principle Thaioil Group develops employee competencies through practical training, knowledge exchange, and training based on the 70-20-10 principle. This approach ensures employees gain in-depth understanding and can apply their knowledge to their work to deliver excellent results.

Employee development covers both functional competency and soft competency, such as digital capability development, cross-cultural capability development, and other essential skills required to drive the business in both the present and the future.

Additionally, Thaioil Group encourages continuous learning through Thaioil Academy, a digital learning platform that allows employees to access various courses anywhere, anytime. The Company also promotes proactive learning through the Learning DIY project which opens opportunities for employees to select development paths based on their own interests. This initiative aims to build motivation for learning and enhance capabilities to align with the Company’s future needs.

(2) Leadership Development  Thaioil Group places continuous importance on leadership potential development by recognizing that leaders are a vital mechanism for driving corporate strategy and delivering outcomes in collaboration with their teams. Therefore, leadership development aims to enhance the readiness of executives and supervisors to effectively cope with changes and manage their teams. Furthermore, leadership development extends to High-Potential Employees to systematically lay the foundation for the next generation of leaders. This ensures that Thaioil Group possesses a new generation of leaders ready to succeed in their roles and drive the organization towards stable and sustainable growth in the future.

(3) Career Management Thaioil Group prioritizes career and development to establish clear growth pathways aligned with employee potential. The Company establishes diverse career paths while enhancing the necessary knowledge, skills, and experiences for each track through various learning methods, such as practical operation, participation in specialized development courses, and engagement in challenging projects. These initiatives enable employees to develop their potential and achieve stable career growth, while responding to organizational needs in both the present and the future, thereby strengthening the organization’s competitiveness sustainably.

(4) Learning Organization  Thaioil Group emphasizes organizational readiness for sustainable growth by driving development towards becoming a Learning Organization under the conceptual framework of the 5 Dimensions of a Learning Organization. The Company also promotes continuous learning among employees, enabling them to apply knowledge, build upon it, and develop innovations that create added value for the business.

Employee Development Programs for 2024

Course
Development Approach
Description of program objective/business benefits
Quantitative impact of business benefits
Percentage of FTE(1) participating in the program
1. Core Competency
1.1 Digitalization

Training, knowledge exchange with the experts, and practical experiences

Developing employees’ knowledge and expertise in digital capabilities by providing learning opportunities in areas such as Data Analytics, Data Science, Cybersecurity, and various digital tools including Power BI, AI, UX/UI, and SAP iRPA, etc. These initiatives also foster Digital Behavior among employees by encouraging them to utilize technology relevant efficiently and securely to their work. Moreover, employees can improve work standards, create innovative outcomes, and enhance overall productivity by integrating digital concepts into daily operations.

374

9.63
2. Expert Development Enhancement
Knowledge exchange with experts and hands-on practical experience through projects and assigned on-site work
Strengthening and cultivating profound expertise in core knowledge areas for employees through diverse development programs, such as HDS Catalyst Workshop, EDS Reliability Improvement Project, Process Capability Study, and Furnace Modelling Project etc. These courses aim to empower employees to apply the acquired knowledge with their work experiences and create value-added outcome for the Company. These initiatives contribute to domestic and international business growth, and play a crucial role in preserving vital organizational knowledge, ensuring long-term competitiveness.
386
3.76
3. Business Explorer Development for Growth
Training, learning through business simulations, knowledge exchange with experts, combined with practical hands-on experience through projects
Equipping employees with knowledge, skills, and abilities to enhance the business’s competitiveness and seek business opportunities that align with Thaioil Group’s three core business strategies. This is achieved through practical hands-on experiences in four projects that supports new business opportunities. This initiative allows the Company to create added value for the business and propel the organization toward sustainable growth.
371
2.91

Note:
1. FTE, or Full-Time Equivalent, represents the number of hours worked by a full-time employee per person per year.

Thaioil Group strives to develop leadership potential, which is essential to drive the organization and working team. The Company focuses on leaders’ readiness to handle the forthcoming changes and manage the team efficiently under uncertain and rapidly changing situations.

Leadership Development Programs for 2024

Course
Objective
Target Audience
Quantitative impact of business benefits
Management Outing Workshop (Inclusive Leadership)
Developing leadership skills through the principles and behaviours of Inclusive Leadership. This approach focuses on fostering a deeper understanding of others, enhancing listening skills, and building trust. Furthermore, the program includes training on becoming Invisible Leaders – leaders who effectively engage with their teams and lead their teams with understanding. These leaders act as enablers, supporting their teams to strengthen engagement and boost productivity.
Vice President and above
297
Engagement and Change Management Workshop
Developing integrated skills in change management and employee engagement by revisiting these skills through knowledge exchange with experts and the analysis of real-life case studies. Additionally, the program also includes practical exercises to enable Section Managers to apply these skills effectively in managing employees. The goal is to equip them with the ability to manage change appropriately while fostering understanding, happiness, and strong engagement between employees and the Company.
Section Manager
186

As a result of continuous employee development in 2023, each full-time equivalent (FTE) received an average of 361hours of development and training, representing a total investment of 369 million THB. This investment is in response to business expansion and preparation for future challenges. 

Thaioil Group recognizes the importance of career development and has developed career development plans for subject matter experts, technical experts (Technical Centre of Excellence), and sandbox explorers. These initiatives are designed  to equip employees with the knowledge, capabilities, and experiences necessary for their professional growth along their career paths.

 Moreover, Thaioil Group is committed to enhancing its competitive capabilities and fostering business growth by transforming into a learning organization. The Company has developed a Learning Organization Roadmap to promote continuous learning among employees. In addition, the Company encourages its employees to leverage their knowledge to create innovations that add value to the business through the “5 Dimensions of a Learning Organization” principle as follows:

5 Areas of Becoming a Learning Organization
Goal & Strategy
Organization Transformation
Strategic Knowledge Management
People Dynamic Learning
Learning Ecosystem
A clearly defined goal and strategy to transform into a learning organization (LO) that is aligned with business strategies.
Implementation of policies, organizational structure, roles, and processes to support learning.
Implementation of effective systems and knowledge management processes.
A fostering of a learning culture in alignment with the goal of becoming a learning organization.
Designed learning technologies and platforms that facilitate and contribute to building a learning organization.
Key Activities
Develop a strategic plan for a Learning Organization (LO) and create an LO roadmap to systematically outline the operational phases for building a learning organization.
Establish the TOP LO Policy and appoint representatives for each department as LO Inspirers and Knowledge Owners.
Focus on critical knowledge capture and sharing, as well as providing opportunities for employees to develop E-Learning content through KM E-Learning Creation Award initiative.
Encourage employees to embrace LEAD behaviors and organize initiatives to drive learning organization, such as Corporate Lunch & Learn and the LO Learning Challenge, etc.
Develop and promote a Learning Ecosystem by integrating various learning platforms into a cohesive system.
Human Resource Development Operations Performance in 2025
Knowledge Capital
• Learning organization assessment resulted at 85% (Level 5: Optimized(1)).The assessment was developed upon domestic and international best practices with the external consultants.
• A total of 73 ideas were generated through the Innovation Culture Promotion project, and the practical ideas have generated the potential benefit approximately 465 million THB per year
• 253 of knowledge that has been generated from Knowledge Management (KM). The Company’s benefits that have gained from leveraging knowledge for further development was amounting to 473.7 million THB
• 331 Online Courses created by employees’ knowledge and expertise
Human Capital
• The Human Capital Index (HCI) of the Company was at 87
• 95 % of employee readiness based on employee competency assessment.
• The average annual employee development hours per person equal 374 hours per FTE(2)
• Average employee development cost of 385,181 THB per FTE(2)

Note:
1. An Optimized Level indicates that the Company has integrated learning as the core of the business strategy and organizational culture. At this level, the organization has successfully implemented all dimensions of learning with exceptional proficiency.
2. FTE, or Full-Time Equivalent, represents the number of hours worked by a full-time employee per person per year

People Way of Work

Thaioil Group prioritizes the quality of life and well-being of all employees, recognizing that they are pivotal to drive the Company’s businesses. To this end, the Company implements a range of programs and activities at both the organizational and departmental levels throughout the year. These initiatives aim to foster employee happiness and engagement under the framework of the PEOPLE Model, which responds to the diverse needs and expectations of employees across various dimensions. This approach ultimately seeks to cultivate lasting happiness and well-being among Thaioil Group’s workforce. 

The Company recognizes the value of individual differences among employees. Therefore, the Company enhanced its responsiveness to diverse needs by providing opportunities for employees to participate in expressing opinions and proposing activities aligned with their expectation through various forums at both the corporate and departmental levels. Additionally, the Company conducts an annual employee engagement survey to gather feedback and use these insights to continuously elevate employee happiness in the workplace.

Furthermore, Thaioil Group focuses on fostering mutual understanding through transparent communication accessible to employees at all levels, ranging from executives and supervisors to operational staff. This aims to enhance employee understanding of the Company’s operational direction, including the performance management system and career management system, through efficient communication and aligned with a unified standard across the entire organization.

Enhancing Employee Experience Operations Performance in 2025

Indicators
Units
2022
2023
2024
2025
Target 2025
Human Capital
Employee received performance reviews
Percent
100
100
100
100
100
Employee engagement rate
Percent
57
62
74
77
More than or equal to 75
Employee satisfaction rate
Percent
67
71
84
84
More than or equal to 84
Employee voluntary turnover rate
Percent
2.81
2.01
1.17
0.95
More than or equal to 3.1

Key Highlighted Project

The Company recognizes the vital role of personnel in driving strategy and achieving sustainable success. Therefore, the Company focuses on caring for and developing employees to ensure their happiness and growth alongside the organization under the concept “Happy Employee, Happy Company” through SMILEWAY project developed from the previous year’s SMILEX project. This project covers five key dimensions as follows:

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Performance Management System

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Employee Support Policy

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COVID-19 Prevention Measures

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Employee Development Programs : Ideation Capability Building for Facilitators (Innovation)

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Employee Development Programs : Business Explorer Development for Growth

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Employee Development Programs : The Power of Data and Visualization Expert Development Enhancement

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Overseas Training Policy

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Talent Management

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The Regulations and 2024 Performance of Abroad Scholarship for Employees

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Thaioil Employee Development Programs 2024

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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.