Risk Management Committee

  • Profile
  • Scope of Duties and Responsibilities
  • Nomination of the Board
  • Report
 

No. Name Position
1. Mr. Prawat Kitipongpairoj Chairman of the Committee
2. Mr. Phongthon Tharachai Committee Member
3. Mr. Opas Sakulsirikamon Committee Member
4. Ms. Woraporn Pukpinyo Committee Member
5. Mr. Panprajak Tansutas 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.

Risk Management Committee Report

Dear shareholders,

According to the moving forward to ASEAN Economics Community (AEC) in 2017, the Company still determines to be the leader in the consulting business including related businesses. In the present condition, business competition is regarded as a significant factor. Therefore, the Company’s committee values risk management as the most important and necessary 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 evaluate the risk management that might affect the business administration. Then the Risk Management Committee is appointed to be responsible for the policy directions, to enhance the effectiveness of the risk management, and to define the risk management as an important mission for every department. The purpose is to manage the risks into an acceptable level without losing business opportunities.

In 2017, 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 2017
    The committee held the meeting with all departments and subsidiaries to present the risk management plans and their KPI of 2017 operations for the approval.
  2. Risk Evaluation, Mitigation Measure, and Risk Management Plan
    The Risk Management Committee had assigned the responsible institute to consider the risk factors that might influence the business administration. The Committee also provided Mitigation Measure, Risk Management Plan, and any other way to reduce the effects into an acceptable level.
  3. Follow up on Risk Mitigation Measure and Risk Management Plan
    Quarterly meetings were held to closely follow up the risk mitigation measure 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
    PPS had set up the social and environmental obligation policies. The Risk Management Committee had assigned the responsible institute to assess the risks associated with social and environment issues, and to follow up the evaluation in order to decrease the effects that might defame the Company’s reputation. In terms of security concerning with the services, the Committee had assigned the risk evaluation as well.
  5. Risk Management Associated with Corruption Issue
    The risk management committee has also informed all of the departments and subsidiaries to evaluate the risk associated with corruption issue following the company’s policy of anti-corruption which was announced with the Private Sector Collective Action Coalition against Corruption movement.

From the above report, the risk management committee has successfully implemented risk management practices 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. Kamon Wiriyachok)
Chairman of the Risk Management Committee