Page 313 - THAILAND PRIVILEGE ANNUAL REPORT 2025

Annual Report 2025

10. Implementation of Good Corporate Governance Policy
Thailand Privilege Card Co., Ltd. is a state enterprise entrusted with the mission of attracting foreign
nationals to Thailand in support of the government’s tourism industry promotion policy. In addition to fulfilling its
role in alignment with national strategies and government policies, the Company is also committed to conducting
its operations in accordance with the principles of good corporate governance, in order to create value and deliver
fair benefits to all stakeholder groups. The Company recognizes that corporate governance is a critical factor in
enhancing organizational efficiency and achieving long-term sustainability. Accordingly, the Company conducted
a gap analysis, benchmarking its practices against the Principles and Guidelines on Good Corporate Governance
for State Enterprises B.E. 2562 (2019), as well as relevant best practices under the State Enterprise Performance
and Enablers Assessment Criteria (Revised Edition B.E. 2567), specifically in the area of Corporate Governance and
Leadership (CG & Leadership), as prescribed by the State Enterprise Policy Office (SEPO), Ministry of Finance. Based
on the results of this analysis, the Company formulated strategic directions and operational approaches to enhance
its governance practices. To systematically elevate its corporate governance standards toward the targeted level,
the Company developed a Long-Term Good Corporate Governance Plan for Thailand Privilege Card Co., Ltd. for the
period 2025-2027 (B.E. 2568-2570), together with the Annual Good Corporate Governance Action Plan for Fiscal
Year 2025 (B.E. 2568), to serve as the operational framework for annual implementation.

Objectives of the Long-Term Good Corporate Governance Plan
The Company places strong emphasis on ensuring that its internal operations are fully aligned with policies
and best practices on good corporate governance. The Company aims to enhance the knowledge, understanding,
and awareness of directors, executives, and employees regarding the importance of good corporate governance.
The objectives of the plan are as follows:
1. To review and assess the Company’s current corporate governance practices by conducting a gap
analysis through comparison of the Company’s performance in Fiscal Year 2024 (B.E. 2567) against the Principles
and Guidelines on Good Corporate Governance for State Enterprises B.E. 2562 (2019), as well as the State Enterprise
Performance and Enablers Assessment Criteria (Revised Edition B.E. 2567), Dimension 1: Corporate Governance
and Leadership, issued by the State Enterprise Policy Office (SEPO), Ministry of Finance.
2. To establish clear development approaches for enhancing the Company’s corporate governance practices
in order to close the identified gaps, by adopting relevant best practices aligned with the SEPO assessment criteria.
These approaches serve as key drivers for the Company’s good corporate governance initiatives, with measurable
outcomes that contribute to stakeholder recognition and reinforce organizational credibility.

Implementation Results of the Good Corporate Governance Action Plan for Fiscal Year 2025
During the past fiscal year, the Company implemented the Good Corporate Governance Action Plan
for Fiscal Year 2025 (B.E. 2568) as approved. Under the Good Corporate Governance Action Plan for Fiscal Year 2025,
the Company carried out activities covering a total of 47 performance indicators / activity targets. The implementation
results by category are summarized as follows:
Category 1: Fulfillment of the Government’s Role 5 performance indicators / activity targets
Category 2: Role of State Enterprises in Promoting Fair Market Practices 2 performance indicators / activity targets
Category 3: Rights and Equitable Treatment of Shareholders 2 performance indicators / activity targets
Category 4: Role of Stakeholders 2 performance indicators / activity targets
Category 5: Disclosure of Information 3 performance indicators / activity targets
Category 6: Board of Directors 21 performance indicators / activity targets
Category 7: Risk Management and Internal Control 3 performance indicators / activity targets
Category 8: Code of Ethics 2 performance indicators / activity targets
Category 9: Sustainability and Innovation 5 performance indicators / activity targets
Category 10: Performance Monitoring and Evaluation 2 performance indicators / activity targets

Summary of Implementation Results
Overall, the Company successfully completed all activities in accordance with the 47 performance indicators /
activity targets, representing 100 percent achievement. The results met the Key Performance Indicator (KPI) for
the achievement rate of the Good Corporate Governance Action Plan for Fiscal Year 2025, as established under
the approved plan.

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