Furthermore, GC has encouraged its suppliers to declare their intent to join the Thai Private Sector Collective Action Against Corruption (CAC) and paid visits to strategic suppliers with high transaction value to open up opportunities to further develop business and enhance relations with them. In 2023, 11 suppliers participated in the program, and GC was named a CAC Change Agent for a second consecutive year, having successfully invited a total of 21 suppliers to join the project. In addition to the initiatives above, GC has reiterated its business code of conduct, no-gift policy, and the reception of comments and complaints from internal and external parties through its whistleblower system at the annual suppl ier conference. GC has also continuously improved its internal work processes and developed the skills and capabilities of its employees. These efforts combined will ensure that GC will have strong and supportive suppliers who enable the Company to operate with transparency and efficiently manage costs to maximize benefits, which will in turn lead to sustainable procurement. Business Competitors To ensure that treatment of business competitors is consistent with international standards and within the scope of the laws on trade competition, GC has established its Business Code of Conduct on the Treatment of Business Competitors in conformity to those principles to ensure fair and transparent competition by neither seeking confidential information of business compet i tors through f raudulent or inappropriate means nor tarnishing their reputation with slanders or give a negative review. Creditors GC treats its creditors fairly and responsibly and strictly complies with contractual terms and conditions. A Payment Tracking System (PTS) has been set up to enable creditors to conveniently track and check payment statuses by themselves. GC, in collaboration with financial institutes, has introduced an e-Mail Advice System, which is based on GC’s Outsourced Payment System, to inform its creditors of necessary information in advance. An additional system has also been introduced to issue invoices, tax invoices, and receipts electronically. Accounts payable aging reports are also prepared for the benefit of tracking the resolution of overdue transactions. In the event that GC is unable to fulfill contractual obligations or terms, it will notify its creditors in advance to seek mutual resolutions. In collaboration with banking institutions, GC has introduced blockchain to the management of letters of guarantee and implemented strict measures for the verification of changes in creditor data to prevent cybersecurity risks and ensure that all transactions are correct and appropriate. GC has also coordinated with banking institutions to introducing the e-Withholding tax system to enable creditors to review data through the Revenue Department’s system by themselves as well as enforced a standard for companies in GC Group requiring that they comply with the conditions between GC and its creditors to ensure adherence to defined procedures, prudence, and accountability. For financial institutions and debenture holders, GC gives equal opportunities for all financial institutes to propose transactions. GC treats creditors as equals, fairly manages loan agreements, and complies with legal requirements and notifications of the Securities and Exchange Commission in issuing and offering debentures for sale. It also maintains independence in decision making and acts on the basis of integrity without requesting, accepting, or offering any undue benefits in its contact with financial institutions and debenture holders. All information of events related to GC’s businesses is also regularly disclosed to creditors, debenture holders, and institutional investors. GC also fosters relations with creditors through activities every year. GC has also established a Personal Data Privacy Policy for the oversight and management of personal data, including the storage, collection, use, and disclosure. To ensure that GC’s operation is in compliance with the Personal Data Protection Act (PDPA) and relevant laws in accordance with GC’s corporate governance policy. Public Sector Recognizing the significance of the public sector as one of GC Group’s stakeholders, GC has established a guideline on the treatment of the public sector in the countries in which it invests so as to avoid adverse consequences. The treatment of the public sector policy has been included in the Corporate Governance and Business Code of Conduct Handbook. GC also strives to comply laws, rules, and governmental regulations in obtaining support for its business activities, which includes: 140
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