Impact Management on Stakeholders in the Value Chain

Impact Management on Stakeholders in the Value Chain

TTA’s Value Chain

TTA’s Value Chain
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The Group’s Stakeholder Identification (2-29)

The Group's operational activities demonstrate its engagement with various stakeholder groups throughout its value chain, aligning with its business operations. The Group collects and analyzes stakeholder information to identify stakeholder characteristics and formulate engagement strategies, including establishing feedback mechanisms to understand stakeholder needs and expectations. By integrating stakeholder feedback, the Group can refine its operations, minimize negative impacts, and strengthen its reputation. The Group categorizes stakeholders into 2 distinct groups:

Primary Stakeholders
Primary Stakeholders

Primary Stakeholders are directly impacted by the Group’s business operations, including shareholders, investors, customers, employees, suppliers, financial supporters, and communities.

Secondary Stakeholders
Secondary Stakeholders

Secondary Stakeholders are indirectly impacted by the Group’s business operations, such as investment analysts, public sectors, and mass media.

Stakeholder Engagement Process

The Stakeholders Engagement Process comprises three key steps:

  1. Stakeholder identification and prioritization – stakeholders are identified and prioritized based on two criteria:

    • The stakeholder group’s dependence on the Group’s operations.
    • The stakeholder group’s influence on the Group’s operations

    The results of prioritizing stakeholder groups within the TTA Group can be shown with the highest priority groups as follows: employees, shareholders/investors, financial supporters, investment analysts, customers, communities and society, business partners, government agencies, and the media.

  2. Stakeholder Engagement Procedure:

    • Assign departmental responsibility for engaging with each group of stakeholders. For example, The Corporate Human Resource Department engages with employees, the Corporate Affairs Department and Investor Relations Department engages with shareholders/investors, and the Sales Department engages with customers.
    • Systematically explore stakeholder needs and expectations through communication and participatory activities to identify key issues.
    • Gather comprehensive information on stakeholder needs and expectations.

  3. Materiality Analysis and Selection

    • The Sustainable Development Committee and the Sustainable Development Working Group analyze stakeholder needs and expectations to select material topics that align with risk and opportunity impacts, as well as the corporation's policies and goals.

In 2024, the TTA Group reported the results of its key stakeholder engagement activities and outcomes to the Sustainability Development Committee 4 times.

Stakeholders Relationships (2-29)

Developing and maintaining positive relationships with stakeholders is fundamental to good corporate governance. By analyzing stakeholder expectations and needs, the Group enhances its operations, supports its goals, and fosters sustainable business development. Effective stakeholder relationship management is crucial for driving stable growth, mitigating risks arising from potential business disruptions, and creating mutually beneficial outcomes for all stakeholders.

Stakeholders Relationships
The Group recognizes the importance of its relationships with all stakeholders and is committed to building trust and fostering strong relationships. The Group aims to consistently deliver optimal experiences by incorporating stakeholder engagement performance into its strategic planning, prioritizing the assessment of risks and impacts that may affect stakeholders. The Group also encourages stakeholder participation through business activities and various communication channels. To proactively address stakeholder-related risks, the Group implements proactive plans that include monitoring, measuring, and reporting on performance, ensuring continuous improvement in stakeholder relationships, trust-building, and sustainable business development.

Stakeholder Engagement Policy and Practices

The Board of Directors is committed to conducting the Group's business with integrity and transparency, fulfilling its responsibilities towards society by upholding the rights of all stakeholders. The Board has established guidelines within the Code of Business Conduct for directors, executives, and employees to ensure transparency and fairness in their interactions with various stakeholder groups. The Group's comprehensive policies and practices regarding stakeholders are available on the Company's website (https://www.thoresen.com/storage/download/code-of-conduct/20231120-tta-code-conduct-th.pdf)

stakeholder-engagement
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Stakeholder Engagement(2-29, 2-30)

The Group has engaged with various stakeholder groups through communication and relationship building, while also analyzing expectations and issues of interest. The Group has taken various actions to address these expectations, details of which are as follows:

Stakeholders
Targets Engagement Channels and Building Relationships Stakeholder Expectations/ Issues of Interest Responses In 2024
Shareholders/ Investors
  • Regularly disclose updating material information about the Company
  • Maintain transparent management, good corporate governance, and social and environmental responsibility
  • Increase business competitiveness and clarify operation direction
  • Manage short-term and long-term corporate risk
  • Shareholders' Meeting at least once a year
  • Business performance disclosure and communication via the Form 56-1 One Report and Sustainability Report
  • Brief earnings report via Investor Relations Journal once a quarter
  • Participation in the Stock Exchange of Thailand's Opportunity Day once a quarter
  • Management discussion and analysis of the financial statements through the websites of the Company and the Stock Exchange of Thailand once a quarter
  • Quarterly investors meetings
  • Company visits
  • Provision of communication channels e.g., the Company's website, E-mail, telephone, etc.
  • Whistleblowing channels for complaints, opinions, and suggestions through E-mail, Mail, and Self-reporting to the Head of Internal Audit
  • The Company's performance, business growth, and value addition from new investment
  • Disclosure of the progress of Company's performance.
  • Transparent management in accordance with good corporate governance principle
  • Provision of good quality of products and services
  • Environmental management and awareness of reducing global warming
  • Business operation with responsibilities for the environment, social, and governance and economic (ESG) factors, in accordance with sustainable development guidelines
  • Enhancement of value and safety of employees
  • The Company disclosed business performance to all investors to present the overall operation and growth of the business.
  • The Company disclosed periodic reports such as quarterly and annual financial report, Management Discussion and Analysis (MD&A), Financial Performance Reviewed (F45), and Form 56-1 One Report, etc.
  • The Company disclosed non-periodic reports such as shareholders' meetings, asset acquisition and disposition, related party transaction and Company investment, etc.
  • The Company reports its operating results through the SET Digital Roadshow channel, organized by the Stock Exchange of Thailand, to present operating results and growth potential to investors worldwide.
  • The Company holds meetings with analysts and credit rating agencies.
Customers
  • Respond to customer demand in various dimensions, and develop products to meet the customers' needs
  • Have channels for customers to make suggestions about products and services, as well as methods for obtaining advice, solutions, and handling complaints
  • After-sales satisfaction assessment form
  • Complaint, suggestion, and feedback channels from customers such as call center, e-mail, telephone, and the Company's website
  • Quality of products and services
  • Provide of efficient and timely service
  • Products and services that serve a need and are accessible to customers of all ages
  • Business operation with responsibilities for environment, social, and governance and economic (ESG) factors, in accordance with sustainable development guidelines
  • Privacy and security of customer data
  • Information through social media
  • Ability to solve problems in an appropriate and timely manner
  • The company provided and communicated an after-sales satisfaction assessment to customers to continue improving the service quality.
  • The company communicated the availability of several complaint channels to customers for receiving suggestions, and feedback, along with providing an efficient working team and timely resolution.
  • The company has policy to maintain the quality and deliver products on time under the "Pizza Hut" brand. For food, the product will be delivered in thermally controlled bags to ensure that product quality and taste remain high upon delivery.
  • The company has continuously researched and developed products under the "Pizza Hut" brand to ensure that the products distributed are safe and meet customer expectations for taste and quality.
Employees
  • Understand and meet employees' needs to create a happy workplace, and continuously promote skill and capacity development
  • Communicate operational directions and disclose information on various operations to keep employees informed about the Company's business activities
  • Provide fair compensation and benefits, including proper working conditions, occupational health considerations.
  • Communication through various channels and online systems within the Company.
  • Employee satisfaction and engagement survey.
  • Whistleblowing channels for complaints, opinions, and suggestions through email, mail, and self-reporting to the Head of Internal Audit and Compliance
  • Portal system, We-Connect Letter, email, video clips, and employees' group chat.
  • Annual party and annual trip for employees of the Company and its subsidiaries
  • MAX Evaluation
  • Employee benefits and remuneration
  • Employee retention
  • Competency development and Career advancement
  • Gender equality
  • Occupational health and safety workplace
  • Good working environment and flexibility
  • Transparent management with good corporate governance principle
  • Business operation with responsibilities for environment, social, and governance and economic (ESG) in accordance with sustainable development guidelines
  • The Company hired and compensated all employees fairly and without discrimination based on race, nationality, religion, sex, age, skin color, disability, financial status, or family lineage.
  • The Company organized training courses relevant to employees' positions and provided opportunities for career advancement and motivation through a comprehensive compensation package including salary, bonus, health insurance, welfare, a provident fund, overtime pay, increased vacation days, and rewards for loyal employees.
  • The Company conducted an employee satisfaction and engagement survey, and used the results to develop operations to meet employees' needs.
Suppliers
  • Enhance suppliers' operations to create value
  • Support and improve supplier operations to enhance knowledge and achieve the highest level of productivity
  • Monitor environmental and safety conditions in supplier operations
  • Support suppliers with the knowledge, understanding and skills for safe operations
  • Operate with honesty, transparency, and integrity, provide high-quality products and services at reasonable prices, increase business competitiveness, and provide a direction for future business growth
  • Supplier Registration
  • The Company's media such as its website and investor relations journal
  • Whistleblowing channels for complaints, opinions, and suggestions through e-mail, mail, and self-reporting to the Head of Internal Audit and Compliance
  • Supplier Quality Assessment Form
  • Annual seminar and meeting
  • Developing and promoting products and services to enhance the health, nutrition, and well-being of consumers
  • System implementation with a defined timeline to increase tracking efficiency
  • Business operation with responsibilities for environment, social, and governance and economic (ESG) factors, in accordance with sustainable development guidelines
  • Activities that increase organizational engagement and foster a positive working environment
  • The Company communicated the Supplier Code of Conduct to suppliers for acknowledgment and compliance.
  • Provided development and promotion of business partners' operations through training to enhance knowledge and understanding, conducted one time.
Financial Supporters
  • Regularly disclose updated material information about the Company
  • Maintain transparent management and good corporate governance as well as demonstrate social and environmental responsibility
  • Increase business competitiveness and clarify the business direction
  • Manage the short-term and long-term corporate risk
  • Company visits
  • Provision of communication channels e.g., the Company's website, E-mail, telephone, etc.
  • • Business conduct with more responsibilities for environmental impacts
  • The Company emphasized sustainability operations that consider impacts in all dimensions and on all stakeholders.
  • The Company regularly updates the information on its website to communicate accurate and up-to-date information to financial supporters.
Community
  • Respect community rights and take care of the environment of the surrounding community
  • Improve the quality of life and enhance the benefits and happiness of the community and society
  • Disclose the Company's information and operating results accurately and in a timely manner
  • Foster knowledge and understanding of the Company's operations
  • Social and environmental activities
  • Whistleblowing channels for complaints, opinions, and suggestions through email, mail, and self-reporting to the Head of Internal Audit and Compliance
  • Innovation to promote sustainable community development
  • Awareness of the environment and efficient resource utilization
  • The Company continuously arranged CSR (Corporate Social Responsibility) activities, both during and after operational processes, for the community.
  • The Company has addressed social issues by developing the BUDDY THAI application to prevent violence and bullying in children.
Investment Analysts
  • Regularly update essential information about the Company's financial position
  • Support requests for information from investment analysts
  • Quarterly analyst meetings
  • Company visits
  • Provision of communication channels e.g., the Company's website, email, telephone, and etc.
  • Disclosure of the Company's performance progress
  • Transparent management with good corporate governance principle
  • Business operation with responsibilities for the environmental, social, and governance and economic (ESG) factors, in accordance with sustainable development guidelines
  • The Company regularly updated its website information to ensure that it is up-to-date and accurately communicates information to investment analysts.
  • The Company has disclosed periodic reports such as its quarterly and annual financial report, Management Discussion and Analysis (MD&A), Financial Performance Reviewed (F45), and Form 56-1 One Report, etc.
Public Sector
  • Be a good model for other companies in terms of transparent and excellent management
  • Collaborate with government agencies and present effective strategies towards sustainable development
  • Business performance disclosure and communication via the Form 56-1 One Report
  • Performance reports from Safety Officers
  • Continuous communication through phone, email, and the Company's website
  • Whistleblowing channels for complaints, opinions, and suggestions through email, mail, and self-reporting to the Head of Internal Audit and Compliance
  • Support, promotion, and development of the potential of people in society.
  • Compliance with related laws, rules, and regulations.
  • The Company regularly updated its website information to ensure that it is up-to-date and accurately communicates information to the public sector.
  • The Company has disclosed business performance to present the overall operation and growth of the business.
  • The Company has disclosed periodic reports such as its quarterly and annual financial report, Management Discussion and Analysis (MD&A), Financial Performance Reviewed (F45), and Form 56-1 One Report, etc.
  • The Company has complied with related laws, rules, and regulations.
Mass Media
  • Regularly disclose updated material information about the Company
  • Annual meeting of the Company
  • Provision of communication channels e.g., the Company's website, email, telephone, articles, news, and etc.
  • Improve organizational processes to meet current trend
  • Efficient communication
  • The Company regularly updated its website information to ensure that it is up-to-date and accurately communicates information to support mass media.
  • The Company has disclosed business performance to present the overall operation and growth of the business.
  • The Company has disclosed periodic reports such as its quarterly and annual financial report, Management Discussion and Analysis (MD&A), Financial Performance Reviewed (F45), and Form 56-1 One Report, etc.