Good Corporate Governance
Corporate Governance Policy
The Board of Directors has placed an importance on the principle of Good Corporate Governance and understands its roles, duties and responsibilities to the Company, shareholders and all stakeholders concerned.
The Company has been abiding by the policy and procedure for the Board of Directors of a listed company, in accordance with the guidelines set forth by the Stock Exchange of Thailand (SET) and the Securities and Exchange Commission (SEC). Accordingly the company was rated in the Corporate Governance Scoring for 2024 at a rate of “Excellent” or 5 star level, by Thai Institute of Directors (IOD).
Code of Conduct
HaadThip’s committed to conducting business with integrity, ethics, and good corporate governance.
HaadThip has established standards of business ethics, promotes good practices, and aims to foster a positive organizational culture in accordance with the principles of good corporate governance. The company operates with integrity, transparency, and fairness toward all stakeholders. These are key factors in building trust, enhancing capabilities, and creating sustainable value for HaadThip
Human Rights Due Diligence: HRDD
The company places great importance on human rights in its business operations, as reflected in its comprehensive human rights policy. It has undertaken a thorough human rights due diligence process, beginning with the assessment of potential risks and impacts on both internal and external stakeholders. This approach enables the company to effectively manage human rights issues of material significance.
Human Rights Due Diligence: HRDD
DownloadEnterprise Risk Management
HaadThip Public Company Limited places significant emphasis on Enterprise Risk Management (ERM), which incorporates Sustainability Risks (ESG), Quality Risk Management (QRM), and Cybersecurity. The company systematically and continuously identifies, assesses, analyzes, manages, controls, and monitors risks to achieve business objectives and foster sustainable growth.
Corporate Policies
Corporate Policy
Corporate of Tax Policy
Haad Thip Public Company Limited has always followed good corporate governance policies and principles. By focusing on doing business transparently, recognize of duties and responsibilities in relation to taxes and related legal proceedings accurately and honestly, and use tax structures correctly to avoid tax evasion. We foster trust among stakeholders and communities where the company's business venture operates.
Tax policies must be implemented with integrity, transparency, and accountability. It is the company's operating principle. To generate long-term benefits and confidence for all parties involved.
Income tax expense
| 2022 | 2023 | 2024 | ||||
|---|---|---|---|---|---|---|
| Tax rate | (Baht million) | Tax rate | (Baht million) | Tax rate | (Baht million) | |
| Profit before income tax | 526.01 | 720.31 | 750.18 | |||
| Tax expense based on income tax rate | 20 | 105.20 | 20 | 144.06 | 20 | 150.04 |
| Tax reduction from privileges in special development zones | 3 | (9.18) | 3 | (9.02) | 3 | (8.77) |
| taxation of net profit from BOI-promoted businesses. | 0 | (22.76) | 0 | (20.57) | - | |
| Additional deductible expenses, net of non-tax-deductible expenses | 2.54 | 2.23 | 7.20 | |||
| Current year tax losses not recognized as deferred tax assets, net of prior year deferred tax assets recognized this year | 19.23 | 0.35 | - | |||
| Over-recognized tax from prior periods | (0.09) | - | ||||
| Total | 18.07 | 95.03 | 16.98 | 122.27 | 19.79 | 148.47 |
In 2024, the profit before income tax was THB 750.18 million, and the income tax expense amounted to THB 148.47 million, representing an effective tax rate of 19.79%, which is lower than the statutory corporate income tax rate of 20%.
Granted reduction of income tax
HaadThip and its subsidiaries has been granted a corporate income tax reduction under Royal Decree No. 783 issued pursuant to the Revenue Code on the Reduction and Exemption of Taxes, dated 4 June 2024. The decree provides tax privileges to companies or juristic partnerships that operate in Special Economic Development Zones and derive income from manufacturing, sales, or services conducted within those zones. The income tax rate is reduced to 3% of net taxable profit for assessable income earned between 1 January 2024 and 31 December 2026.
Repayment Policy
HaadThip determines the repayment period based on the type of goods and raw materials or procurement work for various services, value, purchase orders, and conditions agreed upon by the partners.
| Value | Type and value of product and service |
|---|---|
| Credit term | 30 - 60 days |
As of December 31, 2024, HaadThip and its subsidiaries maintained an average collection period of 29 days, which remained consistent with the period in 2023. The average payment period to creditors also remained balanced with the average credit term, at 29 days.
For certain long-term and trusted suppliers, the company was able to negotiate extended payment terms when necessary to align incoming and outgoing cash flows. Meanwhile, the company expedited collections from selected customers. A set of performance indicators is in place for the debt collection unit to encourage early payment from some customers, in accordance with clear numerical targets. These efforts aim to reduce interest expenses and enhance the company’s liquidity position.
Personal information protection policy
บริษัท หาดทิพย์ จำกัด (มหาชน) (บริษัท) สนับสนุนให้ท่านทำความเข้าใจนโยบายการคุ้มครองข้อมูลส่วนบุคคล (Personal Data Protection Policy) เนื่องจากนโยบายนี้อธิบายถึงวิธีการที่บริษัทปฏิบัติต่อข้อมูลส่วนบุคคลของท่าน เช่น การเก็บรวบรวม การเก็บรักษา การใช้ การเปิดเผย รวมถึงสิทธิต่าง ๆ ของท่าน เป็นต้น เพื่อให้ท่านได้รับทราบถึงนโยบายในการคุ้มครองข้อมูลส่วนบุคคลของบริษัท
Anti - Corruption
Haadthip Public Company Limited together with the subsidiary places significant importance on the subject of anti-corruption, and hence, has issued a related policy and guidelines for business operation.
The Company shall operate with earnest commitment to honesty, transparency, fairness, the principle of good corporate governance, business ethic and anti-fraud and corruption of all facades, both directly and indirectly, be it a request for, acceptance or provision of bribery.
Anti-Corruption Policy
DownloadWhistleblowing and Complaint Form
You can report traces or make petition relating to corruption, are every group of stakeholders of the company