SEC announces Anti-corruption Progress Indicators 2015 assessment results of Thai listed companies

Stocks and Financial Services Press Releases Thursday February 4, 2016 12:23
Bangkok--4 Feb--SEC

In the continued support to Thaipat Institute's assessment of Thai listed companies based on the 2015 Anti-corruption Progress Indicators, the SEC has marked an overall satisfactory improvement among 585 listed companies. The rise of 13 such companies to Progress Level 5 (out of 6 levels) indicated extended efforts to involve stakeholders in the implementation of corporate policies against corruption of all kinds."

SEC Secretary-General Rapee Sucharitakul said: "The Anti-corruption Progress Indicators is one of the initiatives emerging from the Sustainability Development Roadmap and endorsed by the SEC. We encourage listed companies to run business responsibly based on good corporate governance principles for the best interest of stakeholders and the society at large. In so doing, it is crucial for the 585 listed companies to execute serious anti-corruption measures, and the tangible, positive results thereof could set a good example for their peers and other business sectors. The 13 listed companies, which have achieved Progress Level 5 out of 6 levels is a case in point."

The 13 Level 5 achievers are: (1) The Bangchak Petroleum Public Company Limited (BCP), (2) Central Pattana Public Company Limited (CPN), (3) Goodyear (Thailand) Public Company Limited (GYT), (4) Premier Enterprise Public Company Limited (PE), (5) Premier Marketing Public Company Limited (PM), (6) Premier Products Public Company Limited (PPP), (7) Premier Technology Public Company Limited (PT), (8) PTT Public Limited Company (PTT), (9) PTT Global Chemical Public Company Limited (PTTGC), (10) Somboon Advance Technology Public Company Limited (SAT), (11) The Siam Cement Public Company Limited (SCC), (12) Ratchthani Leasing Public Company Limited (THANI), and (13) Thai Oil Public Company Limited (TOP).

The 2015 Anti-corruption Progress Indicators record shows a continued progress across the board. For example, in 2014, the majority or 29.10 percent of the listed firms were ranked at Level 2, which indicates declaration of intent to join the Collective Action Coalition against Corruption, and none of them reached Level 5. In comparison to 2015, the majority or 44.44 percent achieved Level 3, which signifies establishment of anti-corruption measures, e.g., refusal to pay bribery, no involvement in corruptive attempts and sanctions against those who do, as well as communication and staff training with respect to anti-corruption policy and practice.

In addition, the assessment shows a significant decline, from 39.33 percent in 2014 to 8.82 percent in 2015, of the Level 0 group, which indicates no disclosure or unavailability of anti-corruption policy or having an unclear policy against corruption. In any case, the SEC will continue to keep a close watch on listed companies' anti-corruption development.

"The Anti-corruption Progress Indicators assessment helps to gauge the overall development of listed companies and could be a guideline for laying out a business strategic plan. From investors' standpoint, the assessment could reflect how seriously determined listed companies are in fighting off corruption, and by extension, become a key factor when it comes to making an investment decision in such companies," said Mr. Rapee.

The complete Anti-corruption Progress Indicator assessment information is available on www.cgthailand.org.

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