Policies and Documents

Policies and Guideline

Corporate Governance Policy

The Union Mosaic Industry Public Company Limited (“UMI”) adheres to the principles of good corporate governance (CG) to enhance transparency, accountability, and sustainability in business operations. This policy has been developed in line with the CG Code 2017 and covers eight key practices, summarized as follows:

1. Role of the Board of Directors: Set policies and directions, and oversee the organization with integrity and good governance, supported by transparent monitoring and reporting systems, as well as the prevention and proper management of conflicts of interest.
2. Commitment to Sustainability: Conduct business in accordance with ESG and SDGs, with disclosures provided through the Annual Report and the ESG Report.
3. Effective Board of Directors: Promote diversity in terms of qualifications, knowledge, expertise, experience, and independence, together with ongoing performance evaluations.
4. Management of Personnel and Executives: Implement appropriate systems for recruitment, development, and remuneration, supported by succession planning.
5. Innovation and responsibility: Promote innovation in parallel with business ethics and anti-corruption practices.
6. Risk Management and Internal Control: Implement a comprehensive risk management system, with oversight by the Audit Committee and the Executive Committee.
7. Disclosure and Financial Credibility: Disclose material information accurately and in a timely manner through appropriate channels.
8. Shareholders Participation: Uphold shareholders’ rights on an equitable basis, with two-way communication channels to receive feedback.

The Company reviews this policy at least once a year to ensure its relevance and alignment with international best practices.

Business Code of Conduct

The Union Mosaic Industry Public Company Limited (“UMI”) has established a Business Code of Conduct as a framework for the Board of Directors, executives, and all employees to ensure that business operations are conducted with integrity, transparency, and accountability. The code sets forth eight core corporate governance policies and defines responsibilities toward eight groups of stakeholders as follows:

Corporate Management Principles (Eight Policies and Guidelines)

1. Anti-corruption Policy: UMI has established clear guidelines and control measures to prevent bribery and is committed to promoting a culture of transparency.
2. Conflict of Interest and Insider Information Policy: This Policy sets forth guidelines to prevent conflicts of interest and strictly prohibits the use of insider information for personal gain or for the benefit of others.
3. Disclosure Policy: UMI is committed to disclosing information that is accurate, complete, timely, and transparent, so that stakeholders can have fair access to material information
4. Information Security Policy: UMI maintains the highest level of security for its information systems, preventing unauthorized access, leakage, or destruction of information.
5. Confidentiality and Intellectual Property Protection Policy: UMI safeguards confidential business information and protects its intellectual property rights, strictly prohibiting any unauthorized use or disclosure.
6. Whistleblowing and Complaint Policy: UMI provides a channel for whistleblowers to report corruption or breaches of ethical conduct. It also has a mechanism in place to protect them.
7. Governance Policy for Subsidiaries and Affiliates: UMI has established governance guidelines for its subsidiaries and affiliates, ensuring their practices align with the Company’s standards and promoting good corporate governance throughout the Group.
8. Business Sustainability Approach: UMI conducts its business with consideration for economic, social, and environmental aspects. The Company adheres to ESG and SDG principles to ensure sustainable growth.

Responsibility for eight stakeholder groups

1. Shareholders – Ensuring fair treatment by protecting shareholders’ interests, delivering sustainable returns, and providing accurate, complete, and timely disclosure.
2. Government – Complying with all relevant laws and regulations, cooperating ethically with government agencies, and rejecting all forms of bribery and corruption.
3. Employees – Treating all employees equitably, supporting their professional growth and career development, offering appropriate welfare benefits, and safeguarding workplace safety.
4. Business Partners – Selecting and engaging with business partners fairly and transparently, honoring contractual obligations, and fostering ethical and sustainable practices throughout the supply chain.
5. Customers – Delivering high-quality and safe products, providing accurate and clear information, and ensuring customer satisfaction.
6. Creditors – Upholding contractual obligations and financial conditions, and making payments on time.
7. Competitors – Competing fairly, collaborating with competitors to advance the industry, respecting intellectual property rights, and avoiding illegal or unfair practices.
8. Society, Community, and Environment – Supporting social activities, protecting the environment, and promoting sustainable coexistence.

The Company regularly reviews and updates the Business Code of Conduct to ensure alignment with good corporate governance standards and stakeholders’ expectations.