Sustainability Management in Social Dimension

One key driver for achieving sustainable business growth is creating shared value between the organization and its stakeholders, both internal and external. Understanding stakeholder needs enhances business competitiveness and unlocks opportunities created by the ability to navigate rapid technological advancements, evolving business environments, economic and social shifts, and innovation trends. The Group recognizes that its business operations may impact society and is committed to corporate social responsibility (CSR) across the value chain. This approach integrates positive social change with maximizing business benefits, with a goal of promoting long-term well-being in line with the Group's social sustainability objectives. The Group considers social responsibility a core mission, focusing on public health and quality of life improvement through ongoing initiatives. These efforts include skill development, promoting a workplace safety culture, and health and safety awareness, implemented both within business operations (CSR-in-Process) and outside of core activities (CSR-after-Process).

To ensure continuous and sustainable growth, the Group has established a social strategy aimed at fostering employee well-being and engagement. This strategy encompasses Human Rights Due Diligence, Occupational Health and Safety, Human Capital Development, and Community Development and Engagement. Key initiatives include upskilling employees, retaining high-potential talent, succession planning, respecting human rights, and managing compensation and benefits fairly and equitably. These efforts align with the Sustainable Development Goals (SDGs), specifically Goals 3 (Good Health and Well-being), 4 (Quality Education), 5 (Gender Equality), 8 (Decent Work and Economic Growth), and 9 (Industry, Innovation, and Infrastructure). The Group also actively participates in community and social development initiatives, contributing to SDGs 3, 4, and 5.

The Group’s Practices Towards Society
  • Management and employees are encouraged to participate in or organize public benefit activities that contribute to social development and provide community services, such as those supporting education, youth development, religion, arts and culture, and environmental initiatives.
  • Management and employees must monitor, assess, and evaluate operations to minimize occupational health and safety risks, as well as negative impacts on communities and the environment.
  • The Group prioritizes social, community, and environmental activities, aiming to foster sustainable social, community, and environmental development, preserve natural resources, and support public benefit initiatives.
  • The Group cultivates awareness of social, community, and environmental responsibility within the organization and among employees at all levels on a continuous basis.
  • The Group cooperates and ensures strict compliance with the intent of laws, standards, and regulations related to society, community, and environment.
  • Respond quickly and effectively to any impacts on society, community, and environment resulting from the Group’s operations and fully cooperate with government officials and related agencies.
Human Rights Due Diligence

Human RightsDue Diligence

SDGs8
SDGs16

The group places great importance on respecting human rights throughout its value chain. To this end, the Group upholds diversity and treats all stakeholders with fairness, equality, and without discrimination to eliminate potential labor and human rights violations across the value chain.

Human Rights Due Diligence (2-3)

Human rights are a globally significant issue. The Group considers human rights to be fundamental freedom that must be upheld with equality, fairness, and without discrimination. No individual should be restricted or treated unfairly based on race, nationality, religion, skin color, gender, language, or any other status. The Group acknowledges that its business operations, both directly and indirectly, involve people throughout various processes, such as production and logistics or services. Therefore, it is committed to conducting business with awareness of human rights issues and their potential impacts, which pose risks such as legal disputes, lawsuits, labor issues, and loss of trust and corporate reputation among stakeholders, including employees, customers, and suppliers.

Conversely, effective human rights practices can enhance the organization's competitive advantage, differentiate it in the market, and attract customers. They also increase stakeholder engagement and satisfaction while fostering sustainable development. To prevent human rights violations across the organization's value chain, the Company has established a Sustainable Development Committee to oversee, review, and guide human rights-related operations. The committee is also responsible for formulating strategies and policies, as well as conducting comprehensive human rights risk assessments in alignment with the United Nations Guiding Principles on Business and Human Rights.

Human Rights Policy

The Group is committed to conducting business based on human rights principles, aligning with international labor standards and the laws of the countries where it operates. It has established regulations and guidelines that comply with the Labor Protection Act, the Labor Relations Act, and other relevant laws, which have been in effect since 2010. Additionally, the Group updated its Human Rights Policy in 2022 to serve as a framework for managing human rights across all organizational levels, covering employees, suppliers, and other entities connected to its operations. This policy includes guidelines on stakeholder engagement and expectations, referencing international human rights principles such as the United Nations Global Compact (UNGC) and the International Labor Organization (ILO) Declaration on Fundamental Principles and Rights at Work.

Further details on the Human Rights Policy and labor practices can be accessed through https://www.thoresen.com/storage/download/corporate-documents/20220520-tta-human-and-labor-policy-th.pdf

Human Rights Risk
Risk Issues Prevention and Mitigation Measures
Health and Safety of Employees
  • Employees are provided with personal protective equipment and labor-saving equipment that suits their individual needs and job requirements.
  • Disseminate employee protocols amidst the COVID-19 pandemic.

Labor, Health, Safety, and
Well-being Practices of Suppliers’ Employees

  • Provide and communicate the Supplier Code of Conduct.
  • Require new suppliers to conduct a self-assessment.

More information on risk assessment and management guidelines can be found in the Company’s Form 56-1 One Report.

Thoresen Thai Agencies: TTA

Management Approach

TTA communicates its Human Rights Policy to relevant departments and stakeholders, such as employees and suppliers. The policy is enforced across all business units to ensure comprehensive implementation throughout the organization. Additionally, the Company has established complaint channels and developed grievance mechanisms to enhance the effectiveness of its human rights practices.

Furthermore, the Company has appointed the Sustainable Development Committee and the Sustainable Development Working Group, comprising executives and management from various business groups and relevant departments, to oversee and enhance human rights management processes. These processes include audits, risk assessments, and human rights training.

Monitoring Process of Human Rights Due Diligence

The Company implements a systematic human rights due diligence process covering the scope of its business activities, which include both employees and suppliers. This process is continuously developed and implemented to build trust among stakeholders and reduce potential human rights impact that may arise from the Company's operations throughout its value chain, following the procedures outlined below:

1. Scope Definition: The Company has defined the scope of the human rights due diligence process to ensure that human rights issues are thoroughly examined, covering both employees and suppliers. The process includes considering relevant human rights issues such as labor rights, environment, forced labor, human trafficking, child labor, etc.
2. Potential Human Rights Risk Identification: The Company reviews both actual and potential human rights issues arising from its business operations.
3. Human Rights Risk Assessment: The Company assesses human rights risks by considering the severity of impact and likelihood of human rights violations arising from its operations, covering employees, suppliers and contractors, and customers. The Company has defined 4 levels of human rights risk severity: Extreme, High, Moderate, and Low. Any risks assessed as Moderate to Extreme will be reviewed to ensure that the Company's current management approach aligns with the human rights risk assessment results. At present, human rights risks are assessed as Low.
4. Human Rights Impact Mitigation Measure Establishment: The Company establishes operational measures to manage human rights risks, serving as guidelines to mitigate and control impact to maintain them at a low or acceptable level.
5. Monitoring and Review of Human Rights Performance: Relevant departments within the Company are responsible for monitoring and reviewing its human rights measures across all implemented issues on a regular basis to ensure that these issues are improved and rectiflied.
6. Remediation for the Affected Parties of Human Rights Violations • Provide remedies for those affected by human rights violations and ensure that they receive fair treatment. Additionally, the Company takes measures to prevent future violations. The remediation process is systematically planned and implemented, including psychological rehabilitation, medical treatment, counselling, official apologies, etc.

Furthermore, the Company assesses key human rights issues that may be relevant to its business operations, covering stakeholders at risk of human rights violations, including:

  • Labor rights and working conditions such as child or forced labor, sexual harassment or workplace bullying;
  • Discrimination and inequality including gender, racial, or disability discrimination as well as equal opportunities in employment and promotions; and
  • Unsafe working conditions such as a lack of proper safety measures and protective equipment that may lead to accidents or exposure to hazardous substances and health risks.

Furthermore, the Company considers human rights issues when selecting suppliers by reviewing their record of human rights violations, conducting due diligence and choosing suppliers that uphold human rights standards. This ensures that the Company’s business operations do not contribute to human rights violations throughout the supply chain.

Improving Mechanisms for Complaints and Remedies

The Company has established a process for handling grievances and provides employees with opportunities to express their opinions and concerns related to human rights. Employees can initially consult their supervisors regarding their grievances. If the issue remains unresolved, they may submit a written complaint to higher-level management, who must investigate and reach a decision within 7 days. If the second step is ineffective, employees can escalate their complaints to executive management within 7 days, which will appoint an investigation committee to assess the facts.

The executive management is committed to ensuring that all proceedings are conducted with accuracy and fairness, and the decision at this stage shall be final. Employees can submit complaints or provide feedback to the Company via email at whistleblowing@thoresen.com. Additionally, employees may express their concerns through the Welfare Committee in the workplace, beyond matters related to employee benefits. The Company also implements remediation measures for affected individuals.

social-humanrights
Target in 2024
Target Performance
0 complaints about human rights violations The Company received no reports or complaints regarding human rights violations and had no instances of non-compliance with Thai labor standards.

Human Rights Due Diligence Activities and Initiatives

Raising Awareness on Human Rights

The Company respects and values diversity of personnel. There are two main dimensions of diversity: the primary dimension, which encompasses age, gender, race, nationality, ethnicity, sexual orientation, and physical abilities, and the secondary dimension, which consists of language, culture, tradition, values, education, and experience. Additionally, female employees and pregnant women are protected and entitled to benefits as required by law. The Company does not base its hiring criteria on these dimensions and does not consider gender in decisions regarding termination, demotion, or salary reduction. The Company's welfare committee oversees the well-being of all employees. (2-30)

The Company conducts training sessions on human rights policies and labor practices for executives and employees to disseminate knowledge, ensure understanding, establish guidelines, and support all stakeholders. These efforts promote ethical business operations, respect for human rights, and fair treatment of all individuals. In the reporting period, the participation rates for these sessions were 40 percent for executives and 71.43 percent for employees. The Company also shares its human rights policies and labor practices through its internal portal and official website.

Performance in 2024

Diversity and Number of Personnel(2-7),(2-8),(405-1)

Gender Level 2022 2023 2024
Male Senior Management 5 5 5
Mid-level management 3 4 6
First-line Management 12 8 15
Employees (including disabled) 10 20 26
Worker 0 0 0
Total Male 30 37 53
Female Senior Management 1 1 1
Mid-level management 11 8 7
First-line Management 33 25 27
Employees (including disabled) 16 37 45
Worker 0 0 0
Total Female 61 71 80
Total 91 108 133
Remark: All employees work at the headquarters and are permanent employees.
Board of Directors by Age
Age Group 2022 2023 2024
Male Female Total Male Female Total Male Female Total
< 30 Years Person 0 0 0 0 0 0 0 0 0
Percentage 0 0 0 0 0 0 0 0 0
30 – 50 Years Person 2 1 3 2 1 3 2 1 3
Percentage 18.18 9.09 27.27 18.18 9.09 27.27 18.18 9.09 27.27
> 50 Years Person 8 0 8 8 0 8 8 0 8
Percentage 72.73 0 72.73 72.73 0 72.73 72.73 0 72.73
Total 10 1 11 10 1 11 10 1 11
Percentage 91 9 100 91 9 100 91 9 100
Number of Employees by Age
Age Group 2022 2023 2024
Male Female Total Male Female Total Male Female Total
< 30 Years Person 3 14 17 2 16 18 3 21 24
Person 3.3 15.4 18.7 1.9 14.8 16.7 5.7 26.3 18
30 – 50 Years Person 22 41 63 5 6 11 36 51 87
Person 24.2 45.1 69.2 4.6 5.6 10.2 67.9 63.7 65.4
>50 Years Person 5 6 11 30 49 79 14 8 22
Person 5.5 6.6 12.1 27.7 45.4 73.1 26.4 10 16.54
Total 30 61 91 37 71 108 53 80 133
Person 33 67 100 34.3 65.7 100 39.8 60.2 100
Number of Employees by Nationality
Nationality 2024
Male Female Total
Thai Person 51 80 131
French Person 2 0 2
Number of Employees with Parental or Childcare Leave/1
Number of Employees 2024
Male Female Total
Employees with Parental or Childcare Leave Rights (People) - 80 80
Employees Who Used Parental or Childcare Leave (People) - 1 1
Employees Who Returned to Work After Using Parental or Childcare Leave (People) - 1 1
Employees Who Remained with the Company for 12 Months After Returning from Parental Leave (People) - - -
Return Rate After Parental Leave (Percentage) - - 100
Employee Retention Rate After Parental Leave (Percentage) - - 100
Remark: /1 The Company does not provide paternal leave for male employees.
Thoresen Shipping: TSS
Human Rights Due Diligence Management Approach

Thoresen Shipping respects diversity and treats everyone within and outside the organization with equality, fairness, and non-discrimination. The company places high importance on human rights in its business operations to eliminate labor and human rights violations. The company is committed to conducting business based on human rights principles that align with international labor standards and laws of the countries in which it operates.

The company has regulations and rules regarding labor practices that comply with the Labor Protection Act and the Labor Relations Act, as well as other laws. The company has established practices based on international human rights principles, such as the United Nations Global Compact (UNGC) and the International Labour Organization (ILO) Declaration on Fundamental Principles and Rights at Work, to ensure human rights management covers both shipboard employees, office staff, suppliers, and other organizations that have relations with its business operations.

Performance in 2024

The company did not encounter any human rights violations or receive any complaints related to human rights violations from stakeholders. However, the company remains committed to maintaining its operational foundation, enhancing credibility, and ensuring safe and healthy working conditions. The company also focuses on increasing knowledge and understanding of standard operations to bring the highest benefits to all stakeholders.

PH Capital: PHC
Human Rights Due Diligence Management Approach

PHC places significant importance on human rights, especially regarding personal data protection. It has established policies for the protection of personal data that cover all sectors, including customers, employees, suppliers. The company supports employee welfare to accommodate diversity, such as providing leave for religious ceremonies. Additionally, the company has set up channels for receiving complaints and conducting workplace environment inspections to ensure effective implementation of human rights practices. The relevant department oversees data and policy management to ensure compliance with legal practices and maintain currenctness.

Target in 2024
Target Performance Results
0 complaints about human rights violations 0 complaints about human rights violations
Human Rights Due Diligence Activities and Initiatives

The company has established employment agreements for retail staff in accordance with labor laws and labor rights, setting work standards for branches, safety inspection systems to ensure the safety of both employees and customers, and regularly conducts workplace standard inspections. For example, the company ensures that all work equipment is complete and safe, employees have good living conditions, and wages are paid in full. In 2024, the workplace standards inspection team conducted inspections of Pizza Hut branches nationwide at least twice a year per branch, setting a minimum inspection score of 90 percent for regular branches. For training branches, inspections are conducted every two months and must receive a score of at least 95 percent.

Risk Assessment and Mitigation Plans to Reduce Human Rights Impact

The company has established a process to review human rights issues arising from its operations to increase transparency and reduce potential negative impact. The company follows a six-step process aligned with TTA guidelines, which includes: 1. Defining the scope 2. Identifying potential human rights risks 3. Assessing human rights risks 4. Developing measures to mitigate human rights impacts 5. Monitoring and reviewing human rights performance 6. Providing care and remediation.

Similar to TTA, the company considers key human rights issues that may be relevant to its business, covering stakeholders who are at risk of human rights violations. These include labor rights and working conditions, discrimination and equality, and unsafe working environment. The company is also aware of human rights issues when selecting suppliers and enhancing grievance mechanisms and remediation systems.

The company provides channels for receiving complaints through suggestion boxes and a hotline system, allowing employees of all genders, religions, and races at all levels to provide feedback or suggestions. Upon receiving the issue, the company investigates and resolves the matter. In 2024, no human rights risks were identified.

Complaint Channels

Employees of the company can report issues through suggestion boxes or by sending anonymous emails to Hotline@phthailand.com or Whistleblowing@thoresen.com If an employee chooses to disclose their identity, the Company ensures protection of their identity by the management, and no information will be disclosed.

Performance

In the past year, there were no complaints or incidents related to human rights. If such issues arise, the company will provide remediation in accordance with the law.

Diversity and Number of Personnel (2-7),(2-8),(405-1)
Gender Level 2022 2023 2024
Male Senior Management 0.05 0.09 0.07
Mid-level management 0.15 0.26 0.17
First-line Management 2.52 2.5 2.03
Employees (including disabled) 8.77 27.8 29.24
Worker 28.64 7.48 7.81
Total Male 40.13 38.12 39.33
Female Senior Management 0.08 0.09 0.07
Mid-level management 0.15 0.26 0.27
First-line Management 5.69 6.54 5.17
Employees (including disabled) 13.57 44.07 44.11
Worker 40.38 10.92 11.05
Total Female 59.87 61.88 60.67
Total 100 100 100
Remark: The percentage of both permanent and temporary employees is shown.
Board of Directors by Age
Age Group 2022 2023 2024
Male Female Total Male Female Total Male Female Total
< 30 Years Person 0 0 0 0 0 0 0 0 0
Percentage 0 0 0 0 0 0 0 0 0
30 – 50 Years Person 1 1 2 1 1 2 1 1 2
Percentage 33.33 33.33 66.67 33.33 33.33 66.67 33.33 33.33 66.67
>50 Years Person 1 0 1 1 0 1 1 0 1
Percentage 33.33 0 33.33 33.33 0 33.33 33.33 0 33.33
Total 2 1 3 2 1 3 2 1 3
Percentage 66.67 33.33 100 66.67 33.33 100 66.67 33.33 100
Number of Employees by Age
Age Group 2022 2023 2024
Male Female Total Male Female Total Male Female Total
< 30 Years Person 1,786 2,643 4,429 1,418 2,205 3,623 1,421 2,101 3,522
Percentage 34.38 50.88 85.26 32.55 50.62 83.17 33.52 49.56 83.09
30 – 50 Years Person 322 409 731 262 435 697 243 430 673
Percentage 6.2 7.87 14.07 6.01 9.99 16 5.73 10.14 15.88
> 50 Years Person 15 20 35 15 21 36 17 27 44
Percentage 0.29 0.38 0.67 0.34 0.48 0.83 0.4 0.64 1.04
Total 2,123 3,072 5,195 1,695 2,661 4,356 1,681 2,558 4,239
Percentage 40.87 59.13 100 38.91 61.09 100 39.66 60.34 100
Number of Employees by Nationality
Nationality 2024
Male Female Total
Thai Person 1,681 2,558 4,239
Remark: The number of both permanent and temporary employees is shown.
Number of Employees with Parental or Childcare Leave/1
Number of Employees 2024
Male Female Total
Employees with Parental or Childcare Leave Rights (Person) - 810 810
Employees Who Used Parental or Childcare Leave (Person) - 22 22
Employees Who Returned to Work After Using Parental or Childcare Leave (Person) - 18 18
Employees Who Remained with the company for 12 Months After Returning from Parental Leave (Person) - 18 18
Return Rate After Parental Leave (Percentage) - - 81.81
Employee Retention Rate After Parental Leave (Percentage) - - 81.81
Remark:
The number of permanent employees is shown.
/1 PHC does not provide paternal leave for male employees.
Mermaid Maritime: MML
Gender Diversity 2022 2023 2024 Target
Current Employee Gender Diversity (Percentage)(405-1)
Male 59 51 59 Female 50 percent
Female 41 49 41
New Hire Gender Diversity (Percentage)(405-1)
Male 86 58 91 Male 90 percent
Female 10 percent
Female 14 42 9
Resigned Employee Gender Diversity (Percentage) (405-1)
Male 83 93 67 < 5 percent Turnover
Female 17 7 33
< 30 years 4 0 0
30-50 years 71 67 67
> 50 years 25 33 33
Age Diversity 2022 2023 2024 Target
Current Employee Age Diversity (Percentage) (405-1)
< 30 years 5 8 7 ≥ 10 percent for
< 30 Years of Age
30-50 years 74 72 71
> 50 years 21 20 22
New Hire Age Diversity (Percentage)
< 30 years 14 16 18 ≥ 20percent for
<30 Years of Age
30-50 years 57 63 64
> 50 years 29 21 18
Resigned Employee Age Diversity (Percentage)
< 30 years 4 0 0 < 5percent Turnover
30-50 years 71 67 67
> 50 years 25 33 33
Occupational Health and Safety

Occupational Health and Safety

SDGs03
SDGs8
SDGs16

The Group values the quality of life and safety in the workplace for employees, covering everyone who works in the area. The Group is committed to being an organization free from accidents by ensuring strict compliance with relevant laws and international safety standards.

Occupational Health and Safety(403-5),(403-8),(403-9)

Occupational health and safety are among the most important aspects of the Group's operations, as it recognizes that workforce is the foundation of business, even with the support of machinery and technology. Therefore, with the goal of becoming an accident-free organization, effective management of safety, occupational health, and work environment is essential to ensure that every employee enjoys good health, is effective in their work, and can operate safely. The Group emphasizes safety standards from the production process to the delivery of goods to consumers, not only for employees but also for suppliers and any parties involved. The Group has a policy to ensure that employees, contractors, and other stakeholders work in the safest possible environment.

The Group is committed to managing safety, occupational health, and work environment by reducing work-related accident statistics to zero (Zero Accident). Additionally, the Group and its subsidiaries have clear safety, occupational health, and work environment management goals, which include:

  • Reduce Lost Time Injury Frequency Rate
  • Reduce Fatal Accident Frequency Rate
The Strategies for implementation are as follows:
  • Foster a workplace safety culture at corporate level by instructing all employees to set their priority to save lives through the implementation of occupational health and safety management system that covers employees and contractors or workers on premises
  • Encourage all supervisors to be safety leaders to show that the Group pays attention to the safety of employees, contractors, and other related third parties throughout the working process
  • Analyze and review accident prevention measures, including assessing occupational health and safety risks based on job characteristics, to establish mitigation plans to lower the level of risk and establish more comprehensive operating regulations
  • Collect comprehensive and disclose accurate data on safety performance to improve the effectiveness of risk reduction plans
  • Develop a workplace safety manual and provide training to all executives and employees on occupational health, safety, and work environment related to their jobs to ensure that management is appropriate and efficient and corresponds with job characteristics
  • Regularly review and monitor work practices and documentation systems to ensure strict compliance with relevant safety regulations, laws, and standards

In addition, the Company adheres to legal requirements and international standards as guidelines to help reduce work-related risks, loss of life and property, and ensure the well-being of employees and stakeholders. These include:

  • The Labor Ministry Regulation regarding the Establishment of Standards for Occupational Safety, Health, and Environment Management B.E. 2549 (2006)
  • The Occupational Safety, Health and Environment Act B.E. 2554 (2011)
  • The Occupational Safety, Health and Environment Act B.E. 2554 (2011) RE: Occupational Safety, Health and Work Environment Standard Relating to Fire Protection and Prevention B.E. 2555 (2012)
Target in 2024
Business Unit Target Performance
Thoresen Thai Agencies: TTA Lost Time Injury Frequency Rate (LTIFR) of Zero Lost Time Injury Frequency Rate (LTIFR) of Zero
Thoresen Shipping Group: TSS Lost Time Injury Frequency Rate (LTIFR) of Zero Lost Time Injury Frequency Rate (LTIFR) of Zero
PH Capital: PHC Zero Work-Related Fatalities Zero Work-Related Fatalities

Thoresen Thai Agencies: TTA

Occupational Health and Safety Management Approach (403-5),(403-8),(403-9)

Since workplace safety is everyone’s responsibility, the Company has established a foundation for workplace safety and occupational health management. This includes ensuring the health and wellness of employees, monitoring and controlling the work environment to maintain good working conditions and minimizing the impact on employees' health. The Company regularly conducts training and emergency drills. In addition, a 5S activity program is regularly organized, consisting of Sort, Set in order, Shine, Standardize and Sustain, to foster a safety culture.

TTA has developed a safety communication plan within the organization through bulletin boards, email circulation, and its portal system. It also provides regular training and knowledge reviews for both new and existing employees every year. To ensure safety, TTA appoints safety officers, who work in cooperation with the Administrative and Human Resources Departments to oversee and prevent work-related accidents while ensuring compliance with legal requirements. The Company also has executive-level safety officers responsible for promoting, supporting, and monitoring the implementation of workplace safety activities to ensure that safety management is in line with the Company’s goals and plans. To reduce risks and enhance workplace safety, the Company has conducted risk assessments for potential hazards that may affect employees, suppliers, contractors, and workers on premises. Additionally, the Company provides specialized training to mitigate these risks, as follows:

  1. Hazard Identification: The Company requires risk assessments to identify dangerous processes in operations and studies methods to prevent or reduce the occurrence of these hazards.
  2. 2Accident Investigation: In the event of an accident, an investigation is carried out immediately, or as soon as possible, to gather accurate facts. A report is created, along with proposed corrective actions, to determine root cause, details of the incident, and preventive measures to avoid recurrence.
Complaint Channels

In case employees have feedback or suggestions regarding occupational health and safety operations, they can use the following complaint channels to address issues, improve operations, and enhance workplace safety.

Website www.thoresen.com
E-mail whistleblowing@thoresen.com
Mailing Address

Audit Committee
Thoresen Thai Agencies Public Company Limited
P.O. Box 12, SCB Post Office, Lumpini, Pathumwan, Bangkok 10330

In-Person Reporting Head of the Internal Audit and Compliance Department

In 2024, no complaints related to occupational health and safety were reported.

Occupational Health and Safety Activities and Initiatives

Fire Evacuation Drill 2024

The Orakarn Office Condominium, where TTA’s office is located, organized a fire safety and evacuation drill on 5 December 2024.

Performance

In the past year, TTA's headquarters was under the safety management of the Administrative Department. The target for 2024 was to achieve a Lost Time Injury Frequency Rate (LTIFR) of 0 incidents, which was successfully met. Additionally, TTA conducted its annual emergency and fire evacuation drill on 5 December 2024. The drill was successfully completed, with the evacuation carried out within 8 minutes. The training was conducted by the Bangkok Training Unit, which is a registered fire safety training and firefighting unit certified by the Department of Labor Welfare and Protection. There were no incidents in 2024 that caused business disruptions.

Work-Related Injuries Data
Type of Injury Number of Occurrences
2022 2023 2024
Employee Contractor/1 Employee Contractor/1 Employee Contractor/1
Injury Frequency Rate (IFR) 0 0 0 0 0 0
Severity Rate (ISR) 0 0 0 0 0 0
Lost Time Injury Frequency Rate (LTIFR)
/ Lost Time Injury Rate (LTIR)
0 0 0 0 0 0
Severe Injuries
(excluding fatalities)
0 0 0 0 0 0
Fatalities from Work-related Accidents 0 0 0 0 0 0
Fatalities from Work-Related Illness 0 0 0 0 0 0
Illnesses from Work-Related Conditions 0 0 0 0 0 0
Total Workforce Under Occupational Health and Safety Management System/2 91 - 108 - 124 27
Remark:
/1 Contractor refers to employees or workers who are not directly employed by the Company but are temporarily working on-site and following the Company’s occupational health and safety protocols strictly.
/2 The total workforce under the occupational health and safety management system and the percentage of the total workforce under this system has been tracked since 2024.
Raising Awareness on Safety, Occupational Health, and Work Environment
Safety, Occupational Health, and Work Environment Training 2024
Number of Training Courses 18
Number of Participating Executives (Percentage) 100
Number of Participating Employees (Percentage) 71.43
Healthy Together Activities

The Company recognizes the importance of both physical and mental health for employees, so it organizes activities that promote overall well-being. These activities include exercises based on personal preferences to promote physical health, healthy eating, and mental health activities to improve employees' mental well-being. Employees who complete all three activities will receive a reward, and those who improve their Body Mass Index (BMI) or weight will also receive a reward. This program ran from 23 July to 19 August 2024, with a total of 68 employees participating. As a result, 24 employees successfully reduced body fat and improved their health. The overall health check-up results at the end of the year showed a 43.2 percent improvement compared to the previous year.

Say Goodbye to Office Syndrome Activities

Neck, shoulder, and back pain caused by working and daily activities, especially for employees who spend all day in front of a computer, can lead to great discomfort in daily life. Some postures can cause abnormal curvatures in the bones, and other postures can lead to tension and stiffness, ultimately causing pain. This condition is called "Office Syndrome." Since most employees of the Company work in front of computers all the time, the Company places great importance on this issue. As a result, the Company invited a physical therapist from Phayathai 1 Hospital to provide knowledge and conduct a workshop for employees on Friday, 11 October 2024.

Thoresen Shipping: TSS

Thoresen Shipping places great importance on operating with high safety standards. The company has established safety standards based on the Workplace Hazardous Materials Information System and fully complies with regulations and conventions set by the International Maritime Organization (IMO). These regulations and requirements are enforced both onboard vessels and at the headquarters to ensure operations meet international standards. The objectives are to enhance safety in maritime operations, prevent injuries and loss of life, and avoid potential harm to society and environment.

The company requires ship safety officers to investigate accidents and prepare risk assessment reports based on safety, occupational health, and work environment management statistics from reliable sources such as HOPM/12 and SOPM/04. Additionally, Toolbox Meetings are held before every operation to conduct pre-job briefings, assess risks and hazards, study prevention measures and prepare safety equipment to prevent accidents. This includes ensuring emergency equipment is ready to promote safety before commencing work and to reduce workplace accidents.

The company has also established a ship safety committee for every vessel, consisting of department heads and shipfarers from various departments, with no fewer than 7 members. After every meeting, a summary report on progress is submitted to supervisors and relevant parties to ensure all company vessels are properly managed and safety measures are in place for crew members. Ship safety officers are responsible for training and explaining safety policies to all crew members, particularly new personnel, who must be aware of potential hazards from dangerous materials. They must also assess physical limitations, properly evaluate cargo weight, and apply correct cargo handling techniques to ensure both personal safety and security of transported goods.

Occupational Health and Safety Management Approach

1. Ensuring Workplace Safety at All Locations and Operational Stages Thoresen Shipping recognizes that its operations involve high-risk tasks, such as cargo loading onto vessels, oil exploration and drilling and maintenance work. Therefore, workplace safety and occupational health are critical responsibilities for everyone, including executives, employees, suppliers, and visitors on premises, whether at headquarters, on cargo vessels, or offshore drilling rigs. All individuals must strictly adhere to safety regulations, such as wearing Personal Protective Equipment (PPE) properly to minimize or prevent workplace injuries. Required PPE includes gloves, safety helmets, protective glasses, or masks to guard against dust or chemicals.

2. Establishing the Occupational Health and Safe Working Environment Committee The company has formed an Occupational Health and Safe Working Environment Committee to identify unsafe working conditions, review policies, develop action plans, and establish safety measures to prevent accidents, hazards, illnesses, or workplace disturbances. These measures apply to employees, contractors, and visitors or workers on premises. The committee comprises both managerial and employee representatives to ensure comprehensive workplace safety management.

3. Implementing Risk Control Measures The company conducts workplace inspections and safety performance evaluations at least once a month. This includes reviewing incident statistics to assess potential impacts and continuously refining safety measures for greater effectiveness and coverage.

Occupational Health and Safety Activities and Initiatives
Merchant Marine Cadet Training Program

Thoresen Shipping prioritizes the continuous development of seafarers' safety management skills through structured training programs and data recording in both the Training Record Book and the company's database system. The Merchant Marine Cadet Training Program is a mandatory safety management training program that all seafarers must complete before officially commencing their duties onboard. This training enhances their knowledge of personal and asset safety, as well as environmental preservation at sea, ensuring compliance with international professional standards. By implementing such initiatives, Thoresen Shipping ensures that all seafarers on its vessels operate efficiently, possess the necessary expertise, and work in a safe environment.

Each month, the company conducts both basic and specialized training courses for onboard personnel. Seafarers are required to complete company-designated courses, with the captain playing a key role in ensuring the full implementation of safety policies. To continuously and sustainably enhance seafarers' knowledge and skills, the training curriculum focuses on relevant country-specific legal regulations such as the International Safety Management Code (ISM), International Ship and Port Facility Security Code (ISPS), and the Standards of Training, Certification, and Watchkeeping (STCW). Additionally, training covers familiarization with safety equipment, work procedures, environmental pollution prevention, and emergency response drills, including ISPS Drills, Emergency Contingency Plan (ECP) Drills, Grounding & Oil Spill, Fire, and Collision training, among others.

Performance in 2024
Office Safety Statistics

The company prioritizes workplace safety standards. In 2024, Lost Time Injury Frequency Rate (LTIFR) among office employees was zero. The company remains committed to maintaining safety standards and has set an LTIFR target of zero for office employees in 2025.

Onboard Safety Statistics

In 2024, there was one case of Lost Time Injury (LTI) among seafarers. The company continues to enhance and uphold safety standards onboard, setting an LTIFR target of zero for seafarers in 2025.

Statistic Type 2022 2023 2024 Target
2025
Target
2025
Target
2027
Violations of the International Safety Management Code (ISM/1 Code) Non-Conformities 2 7 15 5 2 0
Observations 5 0 4 2 0 0
Violations of the International Ship and Port Facility Security Code (ISPS/2 Code) Non-Conformities 0 0 0 0 0 0
Observations 0 0 2 0 0 0
/1 ISM = International Safety Management
/2 ISPS = International Ship and Port Facility Security
  2022 2023 2024 Target
2025
Target
2026
Target
2027
Number of Accidents  1 2 1 0 0 0
Working Hours (HRS)  1,818,336 1,828,320 1,809,392 - - -
Lost Workdays  5 14 7 0 0 0
Lost Time Injury Frequency Rate (LTIFR) 0.55 1.094 0.55 0 0 0

PH Capital: PHC

Occupational Health and Safety Management Approach

The management of food production and delivery is driven by a strong commitment to the highest safety standards, which is the working standard for every Pizza Hut restaurant that all employees must adhere to. However, creating a safe and healthy work environment in the restaurants is not something that can be achieved all at once. It requires continuous checks and improvements in the work systems, equipment used in operations, and motorcycles used for deliveries to ensure safety for both employees and customers while reducing the risk of accidents. The training and technical development department, along with the branch human resources department, are responsible for inspecting work standards and safety communications for both workplace safety and driving. They also include basic workplace safety information, equipment familiarization within the restaurant, and safety precautions as part of the employee orientation course for new hires. The goal is to achieve zero workplace accidents.

occupational-health-and-safety-management-approach 1
occupational-health-and-safety-management-approach 2

Occupational Health and Safety Activities and Initiatives

The company provides training to employees to enhance their knowledge and understanding of workplace safety and occupational health. It also conducts awareness campaigns on safety, occupational health, and safe driving to ensure employees are mindful of working safely. Additionally, there is a team responsible for inspecting work standards and discussing strategies to always maintain safety both inside and outside the restaurant

Performance

Work-related Injuries Data403-9 2022 2023 2024
Injury Frequency Rate (IFR)   18 6 5
Severity Rate (ISR) 0 0 0
Lost Time Injury Frequency Rate (LTIFR) /
Lost Time Injury Rate (LTIR)
0.167 0.167 1:05
Severe Injuries
(excluding fatalities)
0 0 0
Fatalities from Work-related Accidents 0 0 0
Fatalities from Operations of Employees and
Contractors/Suppliers Working on Company Premises
0 0 0

Relaxation Massage Program by Visually Impaired Individuals

The company organizes a relaxation massage activity every Friday to alleviate office syndrome. Visually impaired individuals provide the service to employees in 30-minute sessions. The visually impaired are included in the employment group and are provided with facilities such as tables and chairs, like those for regular employees.

relaxation-massage-program-by-visually-impaired-individuals

Mermaid Maritime: MML

MML’s subsidiary, Mermaid Maritime Subsea Services (MSST), has showcased exemplary safety performance, achieving six million person-hours without a Lost Time Injury (LTI) as of June 2024. The firm consistently maintained zero fatalities among employees, contractors, and the entire workforce from 2019 through 2024, aligning with GRI.(403-9)

Asia Infrastructure Management: AIM

Occupational Health and Safety Management Approach

AIM places high importance on employee safety at work, as employees' lives and bodies are considered the most valuable resources. AIM therefore has a process for identifying workplace hazards and a process for operational risk assessment. All employees can report work-related hazards and dangerous incidents, including protection for reporters, and there is a process for investigating work-related accident incidents.

AIM has established a Safety, Occupational Health, and Work Environment Committee, which is a collaboration from all sectors in the organization in safety operations, whether employers or employees. The committee is responsible for considering policies and work plans on work safety, reporting and suggesting measures or guidelines for improvement to comply with laws related to work safety, promoting and supporting the company's work safety activities, surveying work safety operations, and reviewing accident statistics that occur in the company. It also establishes a system for reporting unsafe working conditions, which is the duty of all employees at all levels to follow, as well as evaluating the company's performance in work safety. For every Safety, Occupational Health, and Work Environment Committee meeting, the employer or employer's representative must be present to listen to problems and provide opinions on various matters in order to consider improving safety, occupational health, and work environment practices.

Human Capital Development

Human Capital Development

SDGs03
SDGs04
SDGs05
SDGs08
SDGs10
SDGs16

The Group recognizes that employees are a vital resource in driving the organization toward success and a sustainable future. Therefore, the Group is committed to promoting the development of every employee at all levels, enabling them to become skilled individuals with a positive attitude. Employees will also gain the knowledge and skills to keep pace with the rapidly changing global society through a culture of continuous learning.

Human Capital Development (404-1),(404-2),(404-3)

In addition to good human resource management, such as providing benefits that support and promote the well-being of employees, as well as offering competitive compensation to attract and retain talents, the Group believes that effective human resource management is crucial for driving business success. It also helps the organization achieve its sustainable development goals. The Group has therefore established a human resource management strategy through training and development to enhance work performance and employee engagement. Effective human capital management requires clear and measurable performance metrics to assess the effectiveness of the Group’s personnel development efforts. This allows for continuous improvement and development.

Policy and Management

The Group evaluates performance based on each position's duties fairly and appropriately. In maritime businesses, a Fatigue Policy for offshore workers has been established, and an annual performance evaluation of employees is conducted. The performance evaluation is divided into three areas:

  1. Measurement based on the Company's success indicators (Corporate Key Performance Indicator: Corporate KPI)
  2. Performance measurement at the department level and individual level (Department Key Performance Indicator & Individual Key Performance Indicator: Department KPI & Individual KPI)
  3. Evaluation of individual core competencies (Core Competency)

In addition to the 3-part evaluation, there is also an individual-level survey to be used as part of training and development plans tailored to employee positions and duties in future years.

Human Capital Development Approach

To ensure employees possess the knowledge and capabilities that contribute to maximizing operational efficiency in each position, while providing equal career advancement opportunities, the Group has developed a plan to enhance skills and potential of employees at all levels. This includes training programs relevant to their job functions, as well as incentives in the form of salaries, annual bonuses, health insurance, welfare benefits, provident funds, overtime pay, additional vacation days based on seniority, and rewards for long-serving employees. There are also positions available to support voluntary job transfers to promote career growth within the organization. These initiatives help reduce turnover rates among talents, retain staff, and foster greater employee engagement.

Furthermore, the Group has assigned the Human Resources Department to effectively manage human resources in compliance with relevant laws and regulations, such as the Labor Protection Act, B.E. 2541 and the Labor Relations Act, B.E. 2548, as well as other related laws. This also includes adhering to basic human rights principles and respecting individual privacy while ensuring the value chain aligns with established practices.

Complaint Channels

If employees have feedback or suggestions regarding the operations of the Group, they can use the channels provided to resolve any issues, improve operations, and maintain or restore employee engagement.

Website www.thoresen.com
E-mail whistleblowing@thoresen.com
Mailing Address

Audit Committee
Thoresen Thai Agencies Public Company Limited
P.O. Box 12, SCB Post Office, Lumpini, Pathumwan, Bangkok 10330

In-Person Reporting Head of the Internal Audit and Compliance Department

In 2024, no complaints related to human capital development were reported.

Thoresen Thai Agencies: TTA

Target in 2024
Target Performance
No less than 70 percent of employees participated in training sessions. 71.43 percent of employees participated in training sessions.
Management Approach (403-5),(403-8),(403-9)
Promotion and Development of Individuals within the Company

The Company is committed to developing the potential of employees by focusing on both theoretical and practical foundations. The Company has an Individual Development Plan (IDP) based on a Training Needs Analysis, aligning with individual employee needs and job responsibilities. This development plan includes both hard skills and soft skills, forming part of the annual performance evaluation of employees.

Training programs held in 2024 include:
  • Seminars and activities to enhance knowledge in various areas, such as:

    • Labor law training
    • Employee health and wellness training
    • Investment and financial savings training
    • Corporate Key Performance Indicator (Corporate KPI) performance evaluation training
    • Annual fund management report meetings
  • Training courses on sustainable development from external organizations for employees directly involved with sustainable development and the Sustainable Development Working Group, to integrate the knowledge and guidelines acquired from the training into the Company and its subsidiaries’ operations. This will foster a strong organizational culture of sustainability, such as reducing greenhouse gas emissions through the LESS and T-VER programs for the business sector in the capital market, the Step-up Climate Action course, and the GHG scopes completion.
  • A course on renewing the Thai Private Sector Collective Action Against Corruption certification for new employees responsible for anti-corruption duties. Employees who attend this training can pass on the knowledge to their colleagues in departments involved in the certification renewal process, as well as to other subsidiaries. This enables the Company to save approximately Baht 40,000 in hiring external experts for the renewal of the Thai Private Sector Collective Action Against Corruption certification.
  • The training course on sustainable waste management, conducted by the Stock Exchange of Thailand through an online system, had 2 employees participating. The course aimed to enhance knowledge and integrate external knowledge into internal activities. As a result of the training, the employees were able to apply the knowledge to improve activities within the Company, generating an income return to the Company of Baht 1,200 per year.

The Company believes that the benefits of developing employees' potential and promoting their advancement will result in advantages for both the employees and the Company. Developing employees' potential and promoting their career progression is an investment that yields good returns, both in terms of improved work efficiency and increased employee satisfaction within the organization. This, in turn, contributes to the long-term success of the Company.

The benefits that employees receive include:

Increased Knowledge Level Participation in training and development programs helps enhance employees' knowledge in relevant fields, which can be reflected in higher test scores.

Development of New Skills Training allows employees to learn new skills necessary for their work, such as technical skills, management skills, or communication skills, and the development of work-related skills.

Results from Behavior Evaluation Evaluations from supervisors show the development of skills and behaviors aligned with the training courses employees attended, which help employees adapt and perform better, leading to career growth opportunities.

Promotion Opportunities Employees who receive consistent development and training are more likely to be promoted or given additional responsibilities.

Boosting Confidence in Work Skill and knowledge development boosts employees' confidence in their work, making them feel secure and valued within the organization, and enhancing their adaptability

Ability to Handle New Challenges Training helps employees improve their ability to handle new challenges and work-related changes effectively.

Benefits for the Company:

Increased Productivity Employees who receive effective development and training are often able to perform tasks more efficiently, leading to increased organizational productivity.

Reduction in Errors Skill and knowledge development help reduce mistakes in work processes and problem-solving.

Increased Profit Employee development can improve work efficiency, which contributes to increased sales and profits for the Company.

Better Customer Response Employees with strong skills and knowledge can better meet customer needs, leading to improved customer service and satisfaction.

Increased Job Satisfaction Enhancing employee potential and promoting career advancement increase job satisfaction and reduce turnover rates.

Retention of Talents Developing employees helps them feel valued and offers growth opportunities within the organization, reducing turnover and the need for recruitment of new employees.

Building a Positive Company Image An organization that provides opportunities for development and supports employee growth enhances its image as a company that values employee development and career growth.

• Attracting Talents Organizations with strong development programs are more likely to attract talents seeking career advancement opportunities.

Employee Benefits
  • To ensure effective management of human resources, the Company provides various benefits and welfare programs for employees. In addition to the statutory benefits required by law, the Company offers additional benefits beyond legal requirements, such as health insurance, provident fund, retirement policies, internal job transfer policies.
  • TTA has established a Welfare Committee, consisting of employee representatives from all departments, to meet with management at least twice a year. The committee’s responsibilities include jointly providing appropriate and legal welfare to employees, offering advice and suggestions to management on employee welfare, monitoring and overseeing the welfare provided by the employer, and proposing recommendations and ways to improve employee welfare.
  • In 2024, the Company held four Welfare Committee meetings, discussing employee welfare topics such as flu vaccination and annual health check-ups. A representative from management also participated in each meeting.
  • Additionally, to ensure better access for all employees, the Company has established channels for submitting complaints to the Welfare Committee through website or mail slot, specifically for employees who feel they have been treated unfairly. Furthermore, the Company created a group on Line application for employees to serve as a communication channel for updates and announcements related to projects and welfare programs.

Employee Performance Appraisal

TTA has established a systematic, transparent, and fair approach to evaluating employee performance, which includes the following principles

  • The Company has established a policy and criteria for the annual performance evaluation of employees at all levels (MAX Performance Evaluation) through the following steps: Performance Planning: Setting annual goals and objectives, Mid-Year Review: Reviewing and tracking performance progress midway through the year, Year-End Review: Evaluating and summarizing overall performance at the end of the year. To ensure effective goal tracking, the Company requires supervisors and employees to discuss performance and knowledge development plans at least twice a year, in accordance with the MAX Performance Cycle.
  • There are measures to improve performance of employees who fall below the established standards. Employees are required to participate in a training program called Performance Plan, which is conducted twice a year, with each session lasting three months. This provides employees with the opportunity to enhance their performance.

The results of the performance evaluation are used to determine salary adjustments, bonuses based on achievements or outstanding performance, and promotion decisions. This enables the Company to manage human resources effectively while supporting employee growth and enhancing overall organizational performance.

max-performance-cycle
Employee Engagement and Satisfaction Survey

To ensure that TTA's welfare programs and activities align with employee needs and effectively enhance their quality of life and well-being, the Company conducts an Employee Engagement and Satisfaction Survey. The survey helps identify key discussion points before they are considered for improvement and development. Examples of key topics include workforce management aligned with business growth plans, Learning and Development, Job Rotation for Development, and fostering learning opportunities for business advancement. The Company utilizes employee feedback to refine and enhance its processes, creating a more suitable and engaging work environment. This reflects the Company's commitment to fostering a positive workplace, listening to employee concerns and feedback, and valuing employees as primary stakeholders essential to the Company’s success.

The Company aims to achieve an employee satisfaction rate of over 70 percent and employee engagement rate of over 60 percent. To track these targets, the company conducts a comprehensive annual survey on employee engagement and satisfaction.

In 2024, the Company provided all employees with the opportunity to participate in the survey through an online system, achieving a response rate of 55.56 percent. The survey covered 2 main categories with 7 subcategories, addressing key topics such as work environment, relationships with supervisors, fairness in decision-making, personal development, and work-life balance.

The results of the 2024 survey were as follows:

  1. Employee Satisfaction: 78.72 percent
  2. Employee Engagement: 72.75 percent

The primary feedback from this year's employee engagement and satisfaction survey focused on the slow and unstable internet connection at the Company's headquarters. In response, the Company took immediate action to improve the situation by upgrading the internet speed with the existing service provider and replacing or adding Wi-Fi equipment to enhance signal distribution and support the increased internet speed. Additionally, the Company communicated the survey results through announcement boards and internal emails on 23 February 2024.

Human Capital Development Activities and Initiatives
TTA Stars Award Challenges

The Company launched the TTA Stars Award Challenges to strengthen employee engagement through various activities. These include health and wellness challenges, where employees set personal goals for exercise and mental relaxation, earning rewards upon achievement, and the Lucky Desk Organization initiative, which promotes a clean and positive workspace. Employees collect stars for each completed challenge, which can be redeemed for grand prizes.

TTA Stars Award Challenges
Long-Service Awards

The Company values long-serving employees and recognizes their dedication through the Long-Service Awards. To boost morale, employees reaching 5, 10, 15, 20, and 25 years of service receive cash rewards of Baht 10,000, 20,000, 40,000, 60,000, and 80,000, respectively, while those completing 30 and 35 years receive Baht 100,000.

long-service-awards
“Are you ready to discover your Top 5 Strengths Finder” Activity

The "Are You Ready to Discover Your Top 5 Strengths Finder" activity allows employees to take the Clifton Strengths Analysis or StrengthsFinder, a globally recognized assessment that identifies 34 strengths and provides a detailed report to enhance self-awareness, teamwork, and leadership based on individual strengths. The Company organizes this activity to help employees reflect on their unique talents, gain deeper self-understanding, and leverage their strengths for personal and professional growth while improving collaboration in the workplace.

Performance
TTA Human Resource Management Performance
Operations Performance
2022 2023 2024
Employee Training404-1),(404-2)
Training Hours Target (hours/employee/year) (online and offline) 5 5 5
Average Training Hours (hours/employee/year) (online and offline) 6.91 6.87 6.56 
Number of Training Courses Provided (online and offline) 22 30 46
Training Expenses (Baht) 381,682 381,682 1,099,030 
Performance Evaluation(404-3)
Employees Who Passed Performance Evaluation Under MAX Performance Plan (percentage) 100 100 100
Employee Retention and Motivation(401-1)
Voluntary Turnover Rate (percentage) 4.65 15.74 10.32
Voluntary Resignation by Gender
  • Male (person)
1 12 4
  • Female (person)
3 5 9
New Hire Rate (percentage) 19.78 33.33 17.74
New Hire by Gender
  • Male (person)
6 15 10
  • Female (person)
12 21 12

Employee Training by Personnel Level in 2024

Level Training Hours Average Training Hours per Employee per Year
Male Female Total Male Female Total
Top-Level Management 52 0 52 10.4 0 8.67
Mid-Level management 8 20 28 1.33 2.86 2.15
First-Line Management 60 200 260 6 7.69 7.22
Operational-Level Employees 12 84 96 0.46 1.95 1.39
Total Training Hours 132 304 436 2.81 3.95 3.52

New Hire by Age Group in 2024

Age Group Male Female Total
< 30 years Person 2 6 8
Percentage 9.2 27.2 36.4
30 – 50 years Person 6 6 12
Percentage 27.2 27.2 55.4
>50 years Person 2 0 2
Percentage 9.2 0 9.2
Total 10 12 22
Percentage 45.5 54.5 17.7

Remark: 2024 is the first year that new hire data was collected by age group.

Employee Voluntary Resignation by Age Group in 2024

Age Group Male Female Total
< 30 years Person 2 2 4
Percentage 15.4 15.4 30.8
30 – 50 years Person 2 7 9
Percentage 15.4 53.8 69.2
>50 years Person 0 0 0
Percentage 0 0 0
Total 4 9 13
Percentage 30.8 69.2 10.5

Remark: 2024 is the first year that employee resignation data was collected by age group and voluntary resignation.

Employee Compensation by Gender

  2022 2023 2024
Male Female Disabled Total Male Female Disabled Total Male Female Disabled Total
Number of Employees 25 60 0 85 32 70 0 102 47  79  126 
Compensation for the Fiscal Year Ending 31 December 2024 (Baht) 139,829,967 170,094,727 202,885,484
Salary Ratio
(Female to Male)/1
- - - - - - - - 1 1.14 0 N/A
Number of Employees Enrolled
in the Provident Fund
24 59 0 83 24 58 0 82 38 63 0 101
Percentage of Employees Enrolled
in the Provident Fund
28.24 69.41 0 97.65 23.53 56.86 0 80.39 80.85 81.82 0 80.16

หมายเหตุ /1 2024 is the first year that employee compensation data was collected by gender.

Thoresen Shipping: TSS

Human Capital Development Management Approach

Thoresen Shipping recognizes the importance of continuously developing the skills of its employees, especially in safety management for seafarers. Safety training for seafarers is a mandatory requirement that must be followed when working aboard ships. This practice confirms that seafarers aboard every Thoresen Shipping vessel can perform their duties effectively and competently in a safe working environment. Employees are required to cooperate in the training and record their progress in the Training Record Book, which serves as valuable input for the development and improvement of training programs to ensure they are relevant and beneficial.

The seafarer training program aims to enhance knowledge related to the safety of life and property, as well as the management, care, and maintenance of onboard environment, transforming seafarers into professionals. The training curriculum focuses on various laws from different countries, such as the International Safety Management Code (ISM), the International Ship and Port Facility Security Code (ISPS), and the Standards of Training, Certification, and Watchkeeping for Seafarers (STCW), along with familiarization with equipment, work procedures, environmental pollution prevention, and emergency drills. These include ISPS drills, grounding and oil spill, fire in the engine room with crew injury and rescue by helicopter, etc. Every month, there will be both basic and specialized training courses for seafarers. All seafarers are required to complete these courses, with the ship captain playing a key role in ensuring the effective implementation of policies to continuously develop the knowledge and skills of the crew.

In addition, Thoresen Shipping places importance on developing the relationship between seafarers and office staff, aiming to help seafarers relax and feel happy during their time at sea. To achieve this, the company provides internet services onboard, allowing crew members to communicate as if they were at home while at sea. The company also organizes activities through social media, creating various projects for seafarers to participate.

Human Capital Development Activities and Initiatives
Training Information for Seafarers

TSS places great importance on the development of skills, knowledge, and capabilities of employees to drive sustainable organizational success. It has developed appropriate development plans for each department, covering various skills to enhance knowledge, understanding, and improve work performance.

In 2024, the company organized 63 training courses, including e-learning, in-house training, and training by external international organizations. The total training hours amounted to 360 hours, with over a thousand participants, including both seafarers and office staff from the operational departments.

The company remains committed to continuously developing courses and creating training plans to enhance the knowledge and understanding of employees in all areas. This ensures that work is carried out efficiently and with the highest level of safety.

Maritime Awards

The Maritime Awards is an annual event organized by the company since 2003 to honor seafarers who have demonstrated outstanding performance during the current year. It also promotes the qualitative development of seafarers, vessels, and office staff. The event serves to strengthen the relationship between seafarers and office staff, fostering good collaboration within the company.

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maritime-awards-02

Additionally, the Awards also includes scholarships to the children of crew level seafarers who exhibit good behavior and academic performance, in accordance with the criteria set by the company. This initiative aims to support the education of the youth and reduce some of the living expenses for seafarers.

  2022 2023 2024
Number of Scholarships  30 30 35
Amount (Baht)  263,000 255,000 280,000
Blink Application Project

To facilitate efficient communication and operations in real-time, the company continues to develop and innovate new content through Blink application. This platform connects seafarers on all vessels with office-based employees, including those on leave from ship duty. It enables all employees to work in an integrated manner, communicate, share experiences, provide feedback, and participate in activities that promote strong relationships within the organization.

PH Capital: PHC
Performance

To achieve operational excellence, PHC has improved its human resource management system by updating job descriptions for restaurant management teams to align with business needs. Additionally, a career development plan has been established to support the expansion of new branches. In 2024, the company focused on employee development to become a leader in the home dining segment. Beyond enhancing service quality, food safety, and operational standards to deliver an exceptional customer experience, PHC also emphasized leadership development and business acumen. As a result, the average training hours per employee reached 7.44 hours, and 93 percent of employees participated in training programs.

Human Capital Development Management Approach

PHC prioritizes human capital development to enhance employee potential and so has established the management approaches. Firstly, the company has formed a Welfare Committee to improve and assess employee engagement, with quarterly meetings. It follows a practice of filling vacant positions from within the organization first, allowing employees to explore internal career opportunities. Secondly, the company conducts an annual employee engagement survey to gather feedback for improving employee care. To enhance financial well-being, the company provides emergency financial benefits for employees with past credit issues, enabling them to manage expenses and repay high-interest debts, reducing financial stress.

In 2025, the company will further support and promote employee savings through enhanced provident fund benefits to help employees build sustainable financial security for retirement.

Human Capital Development Management Policy

To address ongoing challenges and business uncertainties, employee development is essential to bridge knowledge and skill gaps, enabling employees to unlock their full potential effectively. Development programs are designed within a framework aligned with the vision, mission, and values of Pizza Hut. The expected outcome of these programs is measured through observed behavioral and skill improvements that employees apply in their work. Performance enhancements are tracked and assessed from the perspective of supervisors, who can clearly observe the impact of acquired knowledge and skills.

Employee Performance Evaluation with Clear Criteria

The company has an annual performance evaluation process based on the following criteria:

  1. KPI: Key Performance Indicator

    1. Corporate KPI
    2. Individual KPI
  2. Competency-Based Evaluation

    1. Business Core Value

      1. People Together
      2. Customer Focus
      3. Can-do Attitude
      4. Innovation
    2. Functional Competency (Job Band-Specific Competencies)
  3. Work Attendance Statistics (Applicable to Specific Positions)

    1. Sick Leave: Not exceeding 15 days per year
    2. Personal Leave: Not exceeding 3 days per year
    3. Absence: Not exceeding 0 days per year
    4. Late Arrival or Early Departure: Not exceeding 30 minutes per year
    5. Written Warning Letter: Not exceeding 0 times per year

The annual performance evaluation form and the performance weight ratio for each factor are determined mainly according to guidelines and annual evaluation form developed by the Human Resources Department. These guidelines have been in effect since 2024 and will remain so until further notice. The weight ratios for performance evaluation factors vary by job band. The company’s human capital development is managed by two departments, Organizational Development Department and Training and Technical Development Department.

Beyond employee development plans, the company also fosters a knowledge-sharing culture through expert-led sessions on various topics, such as Knowledge Sharing: Digital Assets 101. Additionally, employees can engage in interactive activities in the HR Newsletter and learning initiatives under the Take a Bright! program.

Welfare Committee

In 2024, the Welfare Committee was responsible for attending meetings to discuss welfare benefits with employer representatives. A total of three meetings were held, and the committee’s meeting reports were submitted to the management. As a result, the company approved additional welfare benefits for employees as follows:

  • To promote employees' financial well-being, the company reduced the required years of service for full employer contributions to the provident fund. Employees will now receive a 100 percent employer contribution after 5 years of service instead of 10 years.
  • In addition to reducing the years of service required for full employer contributions, the company increased the employer’s contribution rate from 3 to 5 percent.
  • Employees are now entitled to a day off on their birthday to celebrate with families.
  • Employees will receive a birthday gift from the company.
Employee Engagement Survey

In 2024, PHC conducted an employee engagement survey using questions related to factors that indicate employee engagement. The assessment score was 74.8 percent, a 7.6 percent increase from 67.2 percent in 2023. The survey included questions such as whether employees intended to stay with the company, whether they would recommend Pizza Hut as a workplace to friends or acquaintances, and whether Pizza Hut motivated them to perform their best every day. Additionally, other related questions were included to help the company enhance employee experience, covering areas such as organizational culture, leadership, work tools and equipment, career development and growth, employee benefits and well-being, and relevant technologies.

For 2025, the company will implement an Employee Value Proposition (EVP) initiative to align its plans with what employees value most. This initiative will focus on three key aspects: 1. Belonging – fostering a sense of being part of the team; 2. Growth – providing opportunities for development and career progression; and 3. Empowerment – granting employees authority and ownership in decision-making. Through this approach, employees will experience greater job satisfaction and happiness. Selected employees will participate in focus group activities to provide insights for the company.

Human Capital Development Activities and Initiatives

The company considers employee development planning a critical component in developing and evaluating employees. To enhance work capabilities, the company provides training programs for employees at all levels. A structured training plan is implemented continuously every month, and training records are maintained for each level to ensure that training topics align with job responsibilities. This structured training approach enhances employees' confidence and ability to perform their tasks more effectively. Notably, employees who undergo career development training have a 0percent turnover rate within the first six months of their new positions and continue to advance in their careers.

Performance in 2024

PHC has provided training programs for employees to enhance their knowledge, skills, and work potential. In 2024, a total of 14 training programs were conducted to develop employee skills, categorized into 8 Soft Skill and 6 Hard Skill programs. The details of the training programs are as follows:

หลักสูตรการฝึกอบรมพนักงาน
Internal Training Programs

Soft Skill

  1. Pizza Hut Service Excellence
    Course Details: Understanding the meaning and importance of service, customer service at Pizza Hut, techniques for enhancing service-oriented personality, Pizza Hut’s service standards, and handling customer complaints to turn dissatisfaction into satisfaction.
    Participants: 486 employees
  2. Shift Management
    Course Details: Understanding the meaning and importance of shift management, key elements of effective work and time management, techniques for prioritizing tasks, and improving shift efficiency.
    Participants: 491 employees
  3. Leadership Development for Performance Improvement
    Course Details: Understanding communication and its various forms to enhance work efficiency, effective communication techniques, and coaching employees to improve branch performance.
    Participants: 232 employees
  4. Service Excellence
    Course Details: Psychology and influence in service, “service quality” in customer perception, and applying psychology to create a positive customer experience in every situation.
    Participants: 211 employees
  5. Applying KPI and Competency for Performance Improvement
    Course Details: Modern organizational framework concepts for a High-Performance Organization (HPO), the meaning and importance of KPI and competency, and performance management.
    Participants: 84 employees

Hard Skills

  1. Food Business Operators and Food Handlers
    Course Details: Principles of food sanitation, hazards from contaminated food and water, food sanitation standards for food establishments (SAN & SAN Plus), personal hygiene for food handlers, relevant laws for food business operators and food handlers, food business management, safe use of cannabis or hemp in food preparation, proper selection and cleaning of utensils, correct handwashing techniques, and proper vegetable washing methods.
    Participants: 305 employees
External Training Program (Financial Support for External Training or Learning)

Soft Skill

  1. Design Thinking - Unlock a Creative Strategy for Innovation
    Course Details: In-depth exploration and strategies for developing a growth mindset to create business opportunities, tools for setting new goals to adapt to changing situations, techniques for applying Design Thinking to teams or work processes to foster innovation.
    Participants: 3 employees

Hard Skill

  1. Food Sanitation Course for Operations Staff
    Course Details: Knowledge and technology on food sanitation under the new normal lifestyle, techniques for professionally applying food sanitation standards, food and water sanitation surveillance, guidelines and application of laws related to food sanitation, techniques for evaluating business establishments, and training for food handlers/business operators.
    Participants: 2 employees
  2. Food Sanitation Auditor Course
    Course Details: Principles of food sanitation and hazards from unsafe food and water, food sanitation standards in food establishments, personal hygiene of food handlers, laws related to food business operators, and food business establishment management.
    Participants: 1 employee
Human Resource Management Performance
Operations Performance
2022 2023 2024
Employee Training(404-1),(404-2)
Training Hours Target (hours/employee/year) (online and offline)
4 6 8

Average Training Hours (hours/employee/year) (online and offline)

3.15 5.34 7.44

Number of Training Courses Provided (online and offline)

20 27 12

Training Expenses (Baht)

572,019.50 196,017.46 710,603.75
Operations Performance
2022 2023 2024
Performance Evaluation(404-3)
Number of Employees Who Passed Performance Evaluation
782 697 657
Employee Retention and Motivation (401-1)
Voluntary Turnover Rate (percentage)
39 22.1 25.73
Voluntary resignation by gender
Male (person)
74 94 84
Female (person) 152 184 153
New hire rate (percentage) 23.85 19.19 26.24
New hires by gender
Male (person)
87 74 100
Female (person) 161 173 148
Employee Training by Personnel Level in 2024
Level Training Hours Average Training Hours per Employee per Year
Male Female Total Male Female Total
Top-Level Management 18 66 84 6 22 14
Mid-Level management 66 186 252 9.43 14.31 12.6
First-Line Management 4,350 12,534 16,884 20.92 17.9 20.05
Operational-Level Employees 6,024 8,292 14,316 4.22 4.27 4.25
Total Training Hours 10,458 21,078 31,536 6.22 8.24 7.44
New Hire by Age Group in 2024
Age Group Male Female Total
< 30 years Person 991 1,377 2,368
Percentage 37.82 52.56 90.38
30 – 50 years Person 87 145 232
Percentage 3.32 5.53 8.85
> 50 years Person 8 12 20
Percentage 0.31 0.46 0.76
Total 1,086 1,534 2,620
Percentage 41.45 58.55 100
Remark: 2024 is the first year that new hire data was collected by age group.
Employee Voluntary Resignation by Age Group in 2024
Age Group Male Female Total
< 30 years Person 900 1,271 2,171
Percentage 36.78 51.94 88.72
30 – 50 years Person 103 152 255
Percentage 4.21 6.21 10.42
> 50 years Person 7 14 21
Percentage 0.29 0.57 0.86
Total 1,010 1,437 2,447
Percentage 41.28 58.72 100
Remark: 2024 is the first year that employee resignation data was collected by age group and voluntary resignation.
Employee Compensation by Gender
2022 2023 2024
Male Female Disabled Total Male Female Disabled Total Male Female Disabled Total
Number of Employees 2,100 3,049 21 5,170 1,678 2,637 24 4,339 1664 2543 20 4,227
Compensation for the Fiscal Year Ending 31 December 2024 (Baht) 413,296,550.42 381,366,861.15 328,983,029.98
Salary Ratio
(Female to Male)
1 1.05 N/A N/A 1 1.02 N/A N/A 1 1.1 N/A N/A
Number of Employees Enrolled
in the Provident Fund
74 179 0 253 45 122 0 167 41 111 0 152
Percentage of Employees Enrolled
in the Provident Fund
29.25 70.27 0 100 26.95 73.05 0 100 26.97 73.03 0 100
Community Development

Community Developmentand Engagement

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The Group is committed to demonstrating social responsibility by actively contributing to societal development and improving the quality of life. This commitment is reflected through various initiatives carried out both within business operations (CSR-in-Process) and beyond core business processes (CSR-after-Process).

Community Development and Engagement

Community and society play a crucial role in driving the economy and ensuring sustainable development for businesses, society, and the nation. The Group's operations are inherently connected to community and society, both directly and indirectly. To foster smooth business operations, gain cooperation and support from local community, and enhance social development initiatives, the Group is committed to conducting its business in ways that avoid negative impact or harm to community and society. Instead, the Company strives to generate positive impact by actively contributing to community and social development. This commitment is realized through the integration of corporate social responsibility within business operations (CSR-in-Process) and beyond core business processes (CSR-after-Process).

Community Development and Engagement Management Approach

The Group has implemented a policy of fostering a sense of social responsibility as an integral part of its corporate culture since 2015. This policy applies to executives and employees across the Company and its subsidiaries. (For more details on the organization's mission, visit https://www.thoresen.com/th/about-tta/vision-mission)). The Group firmly believes that creating a positive impact on society, economy, and environment goes beyond financial donations. The Company also encompasses time, effort, operational processes, and a deep sense of responsibility toward community, society, and the environment. Furthermore, improving the quality of life for communities, society, and the nation requires collective effort from all stakeholders. To this end, the Group has integrated the Sustainable Development Goals (SDGs) across multiple dimensions, including education promotion, quality of life improvement, natural resource conservation, disaster relief, and public welfare. Additionally, it actively raises awareness and fosters collaboration among various sectors, contributing to the development of a truly sustainable society.

Complaint Channels

In cases where community and society are affected by the Group's operations or have any feedback or suggestions regarding its business activities, they can reach out through the designated channels. These channels are established to address issues, improve operations, and maintain and restore relationships with community and society. Available complaint channels are as follows:

Website: www.thoresen.com
E-mail:

whistleblowing@thoresen.com

Mailing Address:

Audit Co mmittee
Thoresen Thai Agencies Public Company Limited
P.O. Box 12, SCB Postal Office, Lumpini, Pathumwan, Bangkok 10330

In-Person Reporting

Head of the Internal Audit and Compliance Department

In 2024, there were no reports from community and society regarding operational impact. Nevertheless, the Group has established a complaint management process with specific operational measures, detailed as follows:

Procedures
  1. 1The Internal Audit and Compliance Department, or the Department hereafter, is responsible for receiving complaints and determining their category before forwarding them to the Audit Committee.
  2. The Department and/or the Audit Committee verify the accuracy and adequacy of the information and facts.
  3. The Department and/or the Audit Committee consider the investigation approach.
  4. If necessary, an investigation committee may be appointed, consisting of senior executives and representatives from departments with no conflict of interest in the matter, to conduct an investigation and enforce the Company's disciplinary regulations.
  5. Relevant departments will determine corrective actions, analyze root causes of the issue, and implement preventive measures to avoid recurrence in the future.
  6. Regarding progress updates, the Company will inform the complainant who has provided their name, address, phone number, email, or other contact details about the progress and outcome of the investigation into the complaint and clues of misconduct and corruption. However, in some cases, due to personal data protection and confidentiality considerations, the Company may not be able to disclose detailed information about the investigation or disciplinary actions.
  7. The Company will conduct an independent and impartial investigation into complaints and clues of misconduct and corruption to gather evidence that can confirm or refute the received information. The Company will also impose disciplinary actions and/or legal proceedings against offenders in accordance with its disciplinary regulations and/or relevant laws.
  8. The review and investigation of reported issues must be conducted as promptly as possible and should not exceed 2 weeks from the date of receipt of the complaint.
  9. The Department is responsible for maintaining a complaint and whistleblowing registry, compiling statistical data on reported clues of misconduct and corruption, and preparing summary reports on all reported misconduct and corruption cases within the Group. These reports will cover issues that have been reviewed or are under investigation, as well as corrective measures, root cause analysis, and preventive actions to avoid recurrence. The reports will be submitted to the Audit Committee at least once every quarter. The Audit Committee will review and report complaint issues to the Board of Directors on a quarterly basis as deemed appropriate.
Thoresen Thai Agencies: TTA
Community Development and Engagement Activities and Initiatives
"The More You Give, The Happier You Feel" – School Development for Children and Youth
education

TTA organized a volunteer activity, "The More You Give, The Happier You Feel," on 21 June 2024 at Wat Choeng Len School (Nakorn Jai Rat) in Sam Phran District, Nakhon Pathom Province. The event featured various activities, including painting restrooms and walls, creating an agricultural garden, a lucky draw game, providing lunch for students, and donating 160 helmets to all students to ensure their safety and promote road travel safety.

BKK Food Bank Center
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TTA delivered rice, dried food, and daily necessities to the Dusit District Office on 21 March 2024, for distribution to vulnerable groups, including the elderly, bedridden patients, persons with disabilities, underprivileged individuals, low-income, and those affected by disasters. This initiative aligns with the objectives of the BKK Food Bank project by the Bangkok Metropolitan Administration, which aims to enhance food security and bring genuine smiles to the recipients.

BuddyThai: An Application Designed to Support Youth Affected by Bullying
education
education

TTA encourages youth to develop emotional management skills, open-mindedness, and respect for diversity through BuddyThai application by organizing a booth activity at the Learning Zone of the Ministry of Social Development and Human Security. The event aimed to promote open-mindedness and respect for diversity among Thai youth while helping them practice self-awareness and emotional regulation effortlessly through interactive activities on the app. This application acts as a “trusted friend” where young users can express their feelings. Whenever they experience bullying in any form, they can immediately press the “Request Advice” or “Seek Help” button on the app. A team of psychological experts will provide the right guidance, helping to reduce anxiety, relieve stress, discourage violent retaliation, and eliminate suicidal thoughts.

The Second Buddy Thai School Tour
education
education

TTA, in collaboration with the Ministry of Social Development and Human Security through the Department of Children and Youth, the National Children's and Youth Council of Thailand, and the "Because We Care" Facebook page—under the supervision of the Ministry and the Royal Thai Police—organized the "Buddy Thai Anti-Bullying" campaign as part of the "CYC Plus: Understanding Love during School Years" project.

The event took place on 31 January 2024, at Kaenthong Upatham School in Bangkok, with Pol. Col. (F) Sirikul Srisanga, Spokesperson for the Police General Hospital, presiding over the opening ceremony. This marks the second School Tour event, following the first successful session at Mahavajiravudh School in Songkhla, which received positive feedback from students and teachers last year.

Currently, the "BuddyThai" application, developed under the "Buddy Thai Anti-Bullying" initiative, is available for download on the Apple Store and Google Play. For more information, visit www.buddy4thai.com or follow Facebook: BuddyThai App.

Workshop on Enhancing Public Health Networks for Child and Adolescent Therapy
education

From 16-18 September 2024, the Company supported a workshop aimed at strengthening public health networks in the treatment of children and adolescents struggling with depression, self-harm, and suicide risk through Cognitive Behavioral Therapy (CBT). This initiative was organized in collaboration with the Rajanagarindra Institute of Child Development, led by Dr. Chosita Pavasuthipaisit, a specialist physician. The event was honored by expert speakers, including Assoc. Prof. Dr. Nuttorn Pityaratstian (Faculty of Medicine, Chulalongkorn University), Asst. Prof. Dr. Sirirat Ularntinon (Queen Sirikit National Institute of Child Health), Dr. Thanvaruj Booranasuksakul (Chulalongkorn Hospital) and team. These experts provided in-depth knowledge on mental health and psychiatric therapy for children and adolescents to psychologists, medical teams, and professional nurses from community hospitals within Health Region 1 in Chiang Mai Province.

Donation to Support Siriraj Foundation
education

From 17 May 2024, the Company joined in celebrating the 30th anniversary of the Export-Import Bank of Thailand (EXIM BANK). On this occasion, the Company contributed Baht 1,000,000 to Siriraj Foundation to support public welfare initiatives. The donation ceremony took place at EXIM Bank Headquarters on Phahonyothin Road.

Wheelchair Donation Project for Persons with Disabilities
education

The Company supported the "Wheelchair Donation Project for Persons with Disabilities" by donating 9 wheelchairs to the Thai Disabled Persons Foundation in Pak Kret District, Nonthaburi, on 5 June 2024. This initiative aims to uplift the quality of life for individuals with disabilities and serve as a source of encouragement. Additionally, these wheelchairs were crafted by skilled disabled artisans, helping to promote their employment and livelihood.

Donation to Rajavithi Hospital Foundation
education

The Company has donated Baht 1,520,000 to Dr. Jinda Rojanamatin, the Director of Rajavithi Hospital and Chairman of Rajavithi Hospital Foundation, on 7 September 2024. The donation will be used to purchase one electric-controlled delivery bed with a waiting bed and one uterine contraction and fetal heart rate monitoring device for use in the hospital's obstetrics and gynecology department.

Donation to Assist Flood Victims through the Thai Red Cross Society
education

On 29 August 2024, the Company donated Baht 500,000 to the Thai Red Cross Society to support the flood relief fund. The donation was received by Mr. Khan Prachuabmoh, Director of the Fundraising Bureau, Thai Red Cross Society, at the Amnuaynoratham Building.

TTA Fulfill Happiness

With the belief that everyone can be part of making society a better place, TTA initiated “TTA Fulfill Happiness” to instill and nurture a sense of public-mindedness among employees. The goal is to encourage them to contribute to society, helping people in need, and fostering positive development in line with good ethics and morality. The Company provides financial support and allows employees to engage in public service activities, covering areas such as environment, education promotion, charitable work, and religious support. The project includes various activities as follows:

education
  • TTA participated in tree planting and garbage collection at Benjakitti Park on 2 September 2024. The initiative aimed to increase green spaces and reduce carbon dioxide levels in the city. The seedlings planted were carefully selected as part of the support for the Bangkok Governor's policy which aims to plant 1 million trees within 4 years.

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  • TTA painted and packed essential household medicine bags, as well as donated school supplies, sports equipment, books, and developmental toys to underprivileged children and impoverished communities in remote areas on 9 September 2024. Each bag was thoughtfully crafted, expressing positive emotions on canvas, making each one unique in the world. In addition to bringing joy to the children, reusing these bags also helps reduce plastic bag usage, contributing to the fight against global warming.

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  • On 6 September 2024, TTA crafted "Pla Beep"—hand exercise squeeze tools—at Suan Mokkh Bangkok. A total of 200 Pla Beep were donated to Miracle of Life Hospital, part of the Rajavithi Hospital network, to assist in hand and finger rehabilitation for the elderly, patients with muscle weakness, and bedridden patients. These squeeze fish help stimulate muscle recovery and strengthen hand function over time.

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  • On 27 September 2024, TTA donated 106 burial shrouds to the Ruamkatanyu Foundation at Wat Hua Lamphong as a gesture of respect and to bring peace to those who have passed away. These shrouds will be used in religious ceremonies during the final rites of life. Additionally, TTA provided first-aid kits to the foundation’s staff to assist in emergency situations for the injured.

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  • On 19 September 2024, educational supplies, sports equipment, and essential consumer goods—including rice, dried food, and UHT milk—were donated to the SOS Children’s Villages Thailand, under the Royal Patronage. This initiative aimed to support the children's learning and development, helping them grow into quality individuals who will contribute positively to society in the future.
A Dream Library
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On 26 July 2024, the Company donated Baht 120,000 to renovate the library building at Ban Borsalee School, located in Borsalee Subdistrict, Hot District, Chiang Mai. The renovation covered the roof, ceiling, walls, electrical system, and bookshelves. This school, which serves kindergarten and primary-level students, is situated in a remote area, over 180 kilometers from Chiang Mai city.

Employee volunteers also participated in delivering educational supplies and organizing a lunch treat for students and teachers. The meal included Pizza Hut, Taco Bell fried chicken, Krispy Kreme donuts, and ice cream, aiming to uplift the spirits of both resident and volunteer teachers. The initiative also encouraged students to develop a love for reading, foster happiness, maintain good health, and support their overall well-being.

Lunch for Children at Ban Kru Boonchu Foundation for Special Needs Children
education

On 29 November 2024, TTA organized an activity to donate essential items and provide lunch for 200 special needs children at Ban Kru Boonchu Foundation for Special Needs Children in Chonburi. The event aimed to bring happiness to the children, as well as promote employee participation in social philanthropy.

Thoresen Shipping: TSS
Management Approach

In contributing to and developing the community and society, TSS has assigned the Seafarers Department as the main unit responsible for carrying out these operations. Within the company's operational framework, the company focuses on engaging with the community and society in the areas of knowledge development and promoting maritime commerce education to various educational institutions.

Community Development and Engagement Activities and Initiatives
Merchant Marine Course Development Project in Collaboration with Office of Vocational Education

TSS signed a Memorandum of Understanding (MOU) with the Office of the Vocational Education Commission in 2024 to collaborate on teaching and curriculum development for merchant marine and maritime studies in various educational institutions. As a consultant, the company played a key role in designing a curriculum that aligns with current workforce demands in the commercial shipping industry. The program has been widely recognized and appreciated by participating institutions. TSS aims to equip vocational students with knowledge and skills that meet the industry's needs. The company also offers internship opportunities on its vessels, allowing students to gain hands-on experience, with the potential for immediate employment upon graduation.

In 2024, the company actively collaborated on the design and development of teaching and training programs to create curricula that align with labor market demands, real-world operations, and skill development. This initiative was implemented in various educational institutions, including:

  • Nakhon Si Thammarat Vocational College
  • Nakhon Si Thammarat Shipbuilding and Industrial Technology College
  • Tinsulanonda Fisheries College
  • Merchant Marine Training Center
  • Rajamangala University of Technology Srivijaya, Songkhla
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Internship Program

Thoresen Shipping runs an annual internship program, offering maritime students the opportunity to gain hands-on experience in real-world operations. This initiative not only enhances students' practical skills but also helps develop a skilled workforce for Thailand’s shipping industry. Students who demonstrate outstanding performance during their internships could be hired as full-time employees. In 2024, a total of 36 students participated in the internship program, and 20 of them were later employed by the company. This program helps reduce recruitment risks, cut hiring costs, and streamline onboarding processes, making it a strategic and efficient approach to workforce development.

PH Capital: PHC

Community Development and Engagement Management Approach

PHC collaborates with community and society, with the Human Resources Department being responsible for these operations. The focus is on two main areas: engaging with communities affected by the company’s business operations and with communities that are not affected by the company’s activities.

Since the company operates in the food industry, there has not yet been a clear assessment of potential negative impacts from operations. In the community engagement efforts, the company considers opportunities to provide access to food and works with the community to improve and develop kitchen facilities for schools in need of financial resources. Additionally, in collaboration with TTA, the company works to enhance and renovate restroom facilities for both students and teachers to improve the quality of life for personnel and students in the community.

The principles that PHC upholds when organizing projects are based on requests for collaboration from universities, schools, and websites listing schools in need. The company’s social activities under the project An Equal Slide for Everyone aim to share food with disadvantaged individuals, with a budget of approximately Baht 50,000 for each activity. Additionally, the company participates in government projects to provide opportunities for education and employment, such as the 3Mor Program, dual education, and cooperative education programs, which enhance employment opportunities in the communities where the company operates.

In 2024, the company has allocated a budget of over Baht 2,500,000 to improve the quality of life for communities and society in various areas.

Community Development and Engagement Activities and Initiatives
Pizza Hut Shares Happiness: An Equal Slice for Everyone
PHC, the franchise operator of Pizza Hut in Thailand, launched the program “Pizza Hut Shares Happiness: An Equal Slice for Everyone.” The goal of this initiative is to promote equality in society. In Thailand, PHC aims to create opportunities for children to access nutritious food, hygienic conditions, quality education, and a better standard of living. Through the sharing of food and essential items, the program helps ensure that children and youth can grow into valuable members of society in the future
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In 2024, under the "Pizza Hut Shares Happiness: An Equal Slice for Everyone" program, the company organized several activities, including:
1. PHC spread joy to the children at the Early Childhood Development Center in Makkasan Railway Community in Bangkok.

The company organized an activity to bring smiles and prepared nutritious and delicious meals for the children. Additionally, essential goods were donated to the center to help support ongoing care and well-being.

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2. Delicious Learning with Pizza Hut

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Pizza Hut delivered delicious pizzas for lunch to 110 upper secondary students participating in the 9th Biomedical Engineering Alternative Movement Camp. The camp aims to guide further education in biomedical engineering at the Faculty of Engineering, King Mongkut’s Institute of Technology Ladkrabang, Bangkok

3. A lunch at Pak Kret Home for Boys, Nonthaburi

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On 29 November 2024, PHC supported Pak Kret Home for Boys in Nonthaburi by providing a lunch meal and donating pizzas to the children.

Unique Mining Services: UMS

Merit-making project on 19 December 2024 at Wat Pho Thong

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Merit-making and blessing project for Father's Day at Nakhon Luang District, Ayutthaya Province, on 5 December 2024

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Project to visit the elderly at Khlong Sakaeo Health Promotion Hospital, Nakhon Luang District, Ayutthaya Province

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Scholarship project for Wat Ruea Khaeng Pracha Uppatham School

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Pa Sak River Conservation Project

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