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Risk Management Committee
  • Profile
  • Scope of Duties and Responsibilities
  • Nomination of the Board
  • Report
 
Name Position
1. Mr. Kamon Wiriyachok Chairman of the Committee
2. Mr. Phongthon Tharachai Committee Member
3. Mr. Nopparat Narin Committee Member
4. Mr. Prawat Kitipongpairoj Committee Member
5. Mrs. Voraporn Pukpinyo Committee Member

Scope of Duties and Responsibilities of the Risk Management Com mittee

  1. Monitor and supervise the development and participate in the annual analysis of the strategies of the organization’s risk managements.
  2. Develop and screen the risk levels deemed acceptable by the organization and screen for the acceptable deviations of the risks.
  3. Provide directions and monitoring methods to the head of risk management personnel.
  4. Assess significant risks and report to the Company’s Board of Di rectors.
  5. Assess the Company’s risk reports.
  6. Review the risk management plans of Headquarters and the project that occurred compared with the plans every quarter.

Components and the Recruitment of Risk Management Committee Members

The Risk Management Committee comprises of not more than 5 members. According to the Department consists of representatives from the followings : the management, financial , accounting, Project Department at least 1 per person and must be appointed by the Board of Directors the Board of Directors shall elect one of its members to be Chairman of the risk management. The risk management committee has been appointed and a 2 year tenure together no more than 2 each.

Report of the Risk Management Committee

Dear shareholders,

To be competitive and ready to move forward to AEC in 2016 and also be the leader in the consulting business including related businesses, the committee values risk management as the most important tool to achieve those goals while maintain effectiveness and ensuring that all of business opportunities are not lost. PPS has a policy that the main business and all subsidiaries need to go through risk management process via risk management committee review so that the risks are being evaluated with mitigation measures applied according to the risk management policies. The risk management policies are being formulated that all of the risks identified are being managed to an acceptable level without losing business opportunities.

In 2014, risk management committee had four meetings in which the following resolutions could be summarized as follows:

  1. Presentation of KPI and Risk Management plan for 2014 The committee met with all department including all subsidiaries to present, review and discuss risk management plans and their KPI for the 2014 operations.
  2. Risk evaluation and mitigation measures All of the risk management plans were reviewed, commented and approved. Risk elements were reviewed together with mitigation measures so they are now rest upon acceptable levels. Furthermore the risk management committee and the company management have drafted an Emergency Plan to Manage the Business on Economic Downtrend. This plan will come into effect and be a guideline for the management to execute during the economic downtrends including political complications if any.
  3. Follow up on risk mitigation measures Quarterly meetings were held to closely follow up the risk mitigation measures with relevant departments to ensure that those measures were being implemented. Comments and feedbacks were collected to improve the process efficiently.
  4. Risk management associated with social and environmental issues As part of the sustainable business practice, the risk management committee has also informed all of the departments and subsidiaries to also factor in the risks associated with the social and environmental with monitoring and evaluation issues to ensure that those issues are being carefully addressed as risk elements with mitigation measures being implemented.
  5. Risk management associated with anti-corruption practice The risk management committee has also informed all of the departments and subsidiaries to address the risks associated with anti-corruption practices following the company’s policy of anti-corruption which was announced with the Private Sector Collective Action Coalition Against Corruption movement.
  6. From the above report, the risk management committee has successfully implemented risk management practices to satisfy the company board of directors to ensure that all aspects of business risks are foreseen and measures are implemented to alleviate those risks identified. The risk management committee strongly believes that the risk management implementation will ensure sustainable business practices of the company in the longer term.



Yours sincerely

(Mr. Prawat Kitipongpairoj)
Chairman of the Risk Management Committee