PTT corporates with NACC, promptly proceed legal action if offenders found

Energy Press Releases Thursday January 26, 2017 12:01
Bangkok--26 Jan--PTT

Tevin Vongvanich, President and Chief Executive Officer, PTT Public Company Limited, has revealed the progress in the case of Rolls-Royce that the investigation committee was gathering information and names mentioned in the procurement process relating to the documents disclosed by the U.S. Department of Justice. PTT is open for additional information from external sources and ready to cooperate with Thailand's National Anti-Corruption Commission (NACC) in order to examine the case with accuracy and honest. Most importantly, offenders will not be protected if found guilty.

PTT upholds the principles of Good Corporate Governance (CG) by conducting 3 factors. People: PTT has built awareness among employees of Ethical Standards, Organizational Culture, Code of Business Ethics Handbook (CG Handbook). Process: PTT has continuously developed the procurement process to prevent from improperly actions. PTT has signed Integrity Pack agreements with business partners for fraud prevention in procurement process. Investigation: PTT has gathered internal information and prepared to be probed with external organization when suspicion found. PTT will not protect the offenders, if the corruption has found and related legal actions will be proceeded accordingly.

"This critical matter will be an opportunity for PTT to reconsider and improve the procurement process, and also to find out a gap which might promote any illegal actions. Meanwhile, it is an opportunity to motivate employees with the honesty as PTT is the nation's organization. Employees shall do their duties and responsibilities with transparency," Tevinrestated.

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