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Under volatile business operations Complexity and continual change, the Company needs to implement an effective risk management system in the organization. To be a tool for determining the direction of the strategy capacity building increasing business opportunities including continual improvement of operating processes which will support the company can achieve the overall objectives have good corporate governance and can create added value for shareholders and related persons By stipulating that risk management is part of the organization’s culture in operation and to all employees at all levels realize the responsibility for joint risk management.

Risk definition and risk management

“Risk” means “uncertain events which, if they occur, harm operations, causing TSTE and its group companies to fail to achieve the objectives set.”

Risk management is “the process of identifying, evaluating, and managing risks to an acceptable level for the organization according to the established risk management framework.”

Objectives of Risk Management
  • To implement an international standardized risk management system in the same way throughout the organization, and specifies that risk management is a part of decision-making. Strategies, plans, and operations of TSTE and its group companies.
  • To determine measures and guidelines for managing the remaining risks to an acceptable level of the organization by considering measures to effectively reduce the likelihood and/or impact of risks that may arise, which will drive the organization to achieve the stated objectives both at the corporate level and at the departmental level.
  • To be able to identify unexpected risks or crises and be able to respond appropriately and timely to reduce losses or damage to the organization.
  • For the management team, the Risk Management Committee and Board of Directors Acknowledged important risk information trends of risk and overall risk and to supervise the risks of TSTE and its group companies in an efficient and effective manner.
  • To ensure that all segments are responsible for identifying, evaluating, and managing significant risks on a regular basis, including in the event of significant or not yet implemented events, activities, processes and/or projects or significant changes within the organization taking into account the acceptable risk level and the ability to actually practice reasonable cost.
  • To have communication and transfer knowledge of risk management to employees regularly and develop employees to understand. There is an awareness of ownership of the risks as well as having joint risk management under the responsibility.
  • To help organizations detect and reduce the risks associated with wrongdoing or fraud. by providing an assessment of the risks of corruption in various fields and to support the organization to formulate a policy to prevent wrongdoing and corruption.
Risk Appetite : RA

It is the highest level of risk that is acceptable to TSTE at the enterprise level. Determined by the management under the supervision of the Risk Management Committee, and use it for evaluation and risk management. Any risks that were analyzed and assessed were found to be may affect the TSTE beyond the acceptable risk level, have the risk-owning agency prepare a risk management action plan, and report to the Risk Management Committee by dividing the risk level Acceptable can be issued in 6 areas as follows:

1. Financial risk

  • Admit to losing money or a decrease in income to some extent but does not exceed a level that materially affects TSTE's liquidity or financial position.

2. Reputational risk

  • Accepting negative messages in the media with widespread communication channels but does not accept negative news that materially and continuously affects the reputation of the public and the trust of the organization from the stakeholders especially important trading partners and shareholders.

3. Operational risk

  • Interruptions or delays in service continuity are acceptable to some extent but do not tolerate interruptions or long delays that cause damage that affects ongoing operations. This affects the level of confidence and satisfaction of the customers, as well as the obligations that the company has to its partners.
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