For the benefit of the Company, the directors, executives and all employees including the employees in the subsidiaries and associated companies must avoid having any personal interest which would have adverse effect on their performance, or cause difficulties in performing duties causing incorrect and inefficient performance. The conflict of interest can occur in many situations, however, in performing duties, the benefits of the Company according to the righteousness of the law and the ethics have to be taken into consideration. Such ethics have been specified in the resolution of the Board of Directors? meeting No. 12/2555 held on 18 December 2012, of which details are as follows:

Practical Guideline

  1. Do not operate competing business or the business of the same nature as that of the Company.

  2. Do not enter into partnership or be shareholder with decision making power or be executive in competing business or the business of the same nature as that of the Company, however, in unavoidable cases, a report must be made to the supervisor immediately.

  3. In case the employee has been involved in the business or any event which may cause conflict of interest, such employee must report to the supervisor immediately.

  4. There shall be no exploitation of information or any event known according to one?s duties and responsibilities.

  5. Avoiding any activity which may cause conflict of interest with the Company or create any form of financial obligation with persons having business relations with the Company or other employees of the Company.

  6. Avoiding doing the job other than that of the Company, which may have effect on one?s responsible duties in any aspect.

  7. The employees must not use the Company?s property or information or any position in the Company to seek personal gain or for business competition against the Company.

  8. All employees must inform the Company when there are circumstances to believe that there would be conflict of interest. If an employee suspects that there might be conflict of interest, such employee must report to the supervisor immediately and both the supervisor and the employee shall jointly consider whether there is conflict of interest or not by using ?Form for Disclosure of Items of Conflict of Interest?. Upon having received recommendations from the supervisor, such employees must submit a copy of the report to the Internal Audit Department.

  9. Whenever it is found that there is business opportunity by using the property or information of the Company or their own positions in the Company, the employees must propose such opportunity to the Company first. In such case, the supervisor shall further propose to the management to consider whether the Company wishes to utilize such opportunity or not. If the Company waives the right to such opportunity, the employees can then use the opportunity according to the terms and conditions proposed, which must be in line with the ethical guidelines of the Company.

Precautions

  1. There should be no personal interest that has impact on the Company.

  2. There should be no transactions with the companies that the employee or the employee?s family has special close relationship with.

  3. There should be no personal relationship that might be in conflict with the duties and responsibilities of the employee.

  4. There should be no financial relationship with the person who might be in conflict with the Company.

  5. There should be no investment or participation in any business opportunity in which the Company is interested in and the information has been obtained through the employees? responsibilities.