GLOBAL POWER SYNERGY PUBLIC COMPANY LIMITED
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REPORT OF THE RISK MANAGEMENT COMMITTEE
Dear Shareholders, In the ever-shifting business landscape, enterprise risk management is vital to business operations. Global Power Synergy Public Company Limited (GPSC) has always recognized its significance and actively pursued risk management in the way that corresponds with international standards. The scope of responsibilities of the Risk Management Committee has been prescribed by the Board of Directors in accordance with the Risk Management Committee Charter under GPSC’s Enterprise Risk Management (ERM) Framework, consistent with the COSO ERM Framework and ISO31000 : 2009, as well as enterprise risk management frameworks of leading companies. Special emphasis has also been placed on corruption risk prevention and risk management in every dimension of business operations that may affect stakeholders, particularly in terms of environment, society, and governance, to attain competitive advantage and sustainable growth.
In 2017, the Risk Management Committee convened a total of seven meetings, with the quorum achieved in all meetings. The summary of its operations is provided below. 1. Formulated and reviewed GPSC’s Enterprise Risk Management Framework for appropriateness as well as provided opinions on the corporate risks to be in line with GPSC’s goals, strategic plans, and operations amidst shifting circumstances 2. Established GPSC’s risk appetite covering the aspect of strategies and investment, business and operations, as well as finance to serve as guidelines for business management and operations 3. Monitored, assessed and offered recommendations on GPSC’s operations and investment projects on a regular basis to ensure that the management maintained GPSC’s operations within its risk appetite, as well as produced concrete and pragmatic mitigation plans 4. Reported the results of GPSC’s Enterprise Risk Management to the Board of Directors On behalf of the Risk Management Committee
(Mr. Payungsak Chartsutipol) Chairman of the Risk Management Committee