Page 242 - THAILAND PRIVILEGE ANNUAL REPORT 2025

7. Performance of the Board of Directors for Fiscal Year 2025

The Board of Directors has participated in determining the direction and policies of the organization, as well as
providing operational guidelines to management for implementation in supervising operations to ensure that they
are carried out efficiently and effectively in accordance with the established plans and budgets. In addition, the
Board has supervised and monitored both short-term and long-term key operations of the organization to ensure
achievement of the established objectives, with progress reports regularly submitted at Board of Directors’ meetings.
Board meetings are scheduled in advance, including meeting dates and agendas, with meetings held monthly,
or as appropriate. In most cases, the Board provides significant recommendations and observations beneficial to
the organization in order to enhance the Company’s operational efficiency. At the same time, the Board has
appointed directors to serve on various committees and subcommittees to oversee operations in different areas,
including assigning or appointing subcommittees or representatives of the Board to conduct preliminary reviews
of plans prior to submission to the Board of Directors for consideration, and clearly designating responsible persons
for working groups or subcommittees. In the fiscal year 2025, a total of 13 Board meetings were held, during which
significant financial and non-financial matters were carried out as follows:
7.1. Pursuant to the signing of the Performance Evaluation Agreement of Thailand Privilege Card Co., Ltd.
for the fiscal year 2025, covering the period from 1 October 2024 to 30 September 2025, in accordance with
the Cabinet Resolution dated 4 December 2017, the Tourism Authority of Thailand (TAT), as the parent state enterprise,
conducted the performance evaluation of the Company and notified the evaluation results on 11 December 2025
(currently under appeal for adjustment of the performance evaluation score).

7.2. At the Board of Directors Meeting No. 5/2025 held on 20 May 2025, the Board of Directors resolved to
approve the granting of Thailand Privilege Card membership under the “Friends of Thailand” category to five foreign
individuals who have contributed to enhancing Thailand’s reputation, in order to honor them and foster cooperation
in promoting Thailand on the international stage. This granting of membership aims to build collaborative networks
with influential foreign figures in the sports and film industries to jointly promote Thailand Privilege Card membership,
as well as to enhance Thailand’s image as a destination for tourism, sports, and culture. This initiative serves as an
important driving force in extending Thailand’s Soft Power and supporting government policy under the “Amazing
Thailand Grand Tourism and Sport Year 2025” campaign, which aims to elevate Thailand as a global high-quality
tourism hub.

7.3. At the Board of Directors Meeting No. 6/2025 held on 17 June 2025, the Board of Directors passed
resolutions on the following important matters:
1. Approved in principle the study framework and results of the consultancy engagement project for
conducting a study and analysis of investment models in new businesses, with business operations to be divided
into phases according to the appropriate structure of each business in order to establish a clear operational timeline.
In cases where business models can be implemented without requiring amendments to the project objectives,
operations may commence in parallel with the submission of the matter to the Cabinet for consideration and
approval of amendments to the project objectives. The study shall also include a feasibility study to assess the
likelihood of success and long-term business returns under the principles of good governance and the operational
framework of state enterprises. Such actions reflect the Company’s commitment to expanding its business potential
and creating new revenue bases to support sustainable future growth through the use of empirical data, strategic
analysis, and transparent operational frameworks to build confidence among regulators and stakeholders.

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