Report of Risk Management Committee
The Board of Directors appointed and assigned the Executive Board to act as the Risk Management Committee, as another role, which consists of 3 members as follows Mr. Kovit Rongwattanasophon as the Chairman of the Risk Management Committee, Mr. Virat Chinprapinporn and Mr. Pompet Rasanon as the Risk Management Director.
The Risk Management Committee performed duties assigned by the Board of Directors to control, supervise and screen the risk management policy in the aspects that were related to the business operation, including strategic risk, credit risk, marketing risk, liquidity risk, operational risk, and other related business conduct risks. The duties also included providing the efficient and appropriate risk management tools or measurement to reduce the business operation related risks to the acceptable level. The internal and external factors which may impact significantly on the business operation shall also be evaluated. The Risk Management Committee has regularly considered and reviewed the risk management policy and guidelines.
In 2019, the country’s economy was slow down due to the internal and external factors which had the wide effect on the industrial sectors. Thus, the Risk Management Committee paid closed attention to such factors, closely monitored the economic situation and managed risks in all aspects, in order for the Company to be able to conduct business properly, efficiently and to successfully achieve the goals under such circumstances, which can result in the stable business and continuous growth.