The company places great importance on stakeholder engagement by establishing guidelines for stakeholder participation. These guidelines aim to ensure that responses to the expectations of all stakeholder groups are accurate, appropriate, and relevant. The engagement process consists of the following 5 steps:
In 2024, the Company classified the stakeholders into 8 groups, sorted by priority as follows:
Customers/Consumer
Needs/Expectation
- Obtain quality products and services on time
- Comply with Fair dealings
- Keep confidential information of customer
- Jointly in product development
- Involvement in projects or membership in international organizations such as Rubberway and GPSNR
Responses to expectation
- Compliance with ethics and conduct of relation with Customers
- Implementation of standard system ISO9001, 14001 and ISO 45001, BSCI, FSCTM
- Product research and development
- Improvement of production process to meet customers’ requirements
Communication channel/Participation
- Online communication: phone, e-mail, website, Facebook, Line@, whatsapp and Wechat
- Annual customer satisfaction survey
- Factory visiting
- Engage activities with customers
- Customers meeting
- Trade exposition
- Sustainability questionnaire
Indicators/result 2024
- Customer satisfaction score 84%
- 11% of market share from global demand for natural rubber
- 3 New customers
- GPSNR membership
- EcoVadis Gold Level
Employees
Needs/Expectation
- Fair remuneration and good welfare
- Respect in Human Rights and Non-Discrimination
- Safety and good working environment
- Promoting good health
- Career stability and opportunities for career advancement
- Competency development
Responses to expectation
- Compliance with ethics and conduct of responsibilities of employees
- Compliance with Human Right and Non-Discrimination Policy
- Whistle Blowing Policy
- Implementation of standard system ISO 14001, ISO 45001 and BSCI
- Provide annual health check-ups and health and accident insurance
- Establish personnel training and development plans
- Internal activity: Happy workplace/ Activity Prize, STA Champion
Communication channel/Participation
- The Company’s monthly meeting
- Kaizen, QCC, 5s, Safety talk, KYT
- Intranet, email, website, Facebook, Line STA Family
- Suggestion box
- Channels for complaints
- Employee activities
Indicators/result 2024
- Zero complaint from employee
- Turnover rate 33.23%
- The lost time accident rate of employees (LTIFR) totals 1.00
- 1,291 works from KAIZEN and QCC activities
Creditors/Banks
Needs/Expectation
- Comply with the contractual terms and conditions
Responses to expectation
- Compliance with contractual terms and conditions
- Accurate and timely response to questions about financial conditions
Communication channel/Participation
- Meeting
- Phone, e-mail
- Company website
Indicators/result 2024
- Confidence in doing business with the Company
Business partners/Suppliers
Needs/Expectation
- Standard procurement system that is transparent and verifiable
- Obtained clear and detailed information regarding the goods and services procured.
- Received income from appropriate workloads
- Received payment for goods and services on time
- Jointly developed product quality
Responses to expectation
- Compliance with purchasing policy
- Announce and operate according to the anti-corruption policy
- Obtaining CAC certification and encouraging partners to join
- Provide complaint channels in case of procurement that is not transparent and/or unfair
- Partner development
Communication channel/Participation
- Online communication, telephone, email, website
- Annual visit and audit of suppliers
- Meetings with business partners and suppliers
- Joint activities
Indicators/result 2024
- The results of the annual supplier assessment Grade A 96.99%
- 314 new suppliers have signed the declaration of intent to anti-corruption in the Supplier Business Code of Ethics.
- 10 suppliers applying to join the Thai Private Sector Action Coalition against Corruption (CAC)
Raw material supplier/ Rubber farmers
Needs/Expectation
- Quick and updated information within timeframe
- Comply with fair agreements
- Free trade and competitive prices with transparency and fairness
- Obtain accurate knowledge of the quality of raw materials and rubber
Responses to expectation
- Compliance with ethics and conduct of relations with business partners
- Develop SRI TRANG FRIENDS application to provide and facilitate the trading of raw materials
- The process of approving new sellers, canceling and re-approving.
- Raw material trading process
- Process for receiving raw materials and requirements for imported raw materials
- Evaluation of suppliers
- Anti-corruption policy and practices
- Sri Trang Puen Chao Suan Project
Communication channel/Participation
- SRI TRANG FRIENDS application
- Line@sritranggroup, Facebook, Call center
- Phone, e-mail, website
- Publication media; brochures, Vinyl
- Site Visit and evaluating suppliers
- Engagement activities
- Participation with Rubber Farmer, Cooperative and Government Sector
Indicators/result 2024
- Increasing raw material supplier more than 6,940 suppliers
- Quality raw material within requirement
- Supplier evaluation A grade 90% (Target >70%)
- “Good quality latex” Project achieved a satisfaction score of 99.8%
- Rubber trucks that meet the standard in according with “Bun Tuk Yang Tid Rang Srang Roi Yim” project average 99.38%
- 638 number of farmers participating in the GAPs project in Thailand for coaching
Community
Needs/Expectation
- Participation in community and society
- Support for community activities
- Social and environment responsibility
- Respect in human right and anti-corruption
Responses to expectation
- Providing Social and community development project
- Support and jointing for community activities
- Recruitment local employee
- Environmental management to protect the impact on the community
- Open house
Communication channel/Participation
- Participate activities with community
- Community survey
- Publication signboard
- Village/Community Line Group Media
- Participation in village/ community meetings
Indicators/result 2024
- Supporting to community development 1,050 projects
- Supporting community activities amount of 5.2 million baht
- Employees from the community 2,012 person
- The satisfaction survey from the community project is 93%
Government sector / Enterprise / Private sector
Needs/Expectation
- Compliance with state laws and regulations
- There is a standardized environmental management system that no negative impact action with society & environment
- Have good occupational safety and health
- To cooperate and support various projects of the government sector
Responses to expectation
- Compliance with state laws and regulations
- Provide accurate and fast information
- Support and Participated in activities of Government sector
- Participation as a working committee with government agencies
Communication channel/Participation
- Meeting and informing
- Factory visit
- Participation in various projects
- Participation as a working committee on requested by government agencies
Indicators/result 2024
- Zero instances of business operation permission denials
- Zero violations of laws or regulations within the specified period, in compliance with labor, tax, and environmental laws
- 20 Certificate/Awards from government
Shareholders, Investors, Analysts
Needs/Expectation
- The Company has good performance and continuous growth
- Consistent dividend payment
- Shareholders receive accurate, complete, timely, and sufficient information for decision making
- The Company operates with transparency, good governance and a good internal control system
Responses to expectation
- Operates strategically along with good corporate governance
- Appropriate dividend policy
- The Company adheres to the ethics and code of conduct regarding responsibility to shareholders
- Accurate, timely, and sufficient disclosure of information
- Accurate, up-to-date, and user-friendly website
- Participating in the evaluation of various ESG indexes such as SET ESG Rating, S&P Global, Ecovadis, FTSE Russell
Communication channel/Participation
- Shareholders’ annual general meeting
- Q&A by phone and e-mail
- Annual report and Sustainability report
- The Company’s website
- Analyst Meeting
- Meeting domestic and foreign investors, such as roadshow activities organized by securities companies and The Stock Exchange of Thailand
Indicators/result 2024
- The Company sets a policy for dividend payment not less than at 30 percent of net profit, but not more than the retained earnings in the Company’s separate financial statements. As for FY2024 the Company announced total dividend payment of 1.00 baht per share.
- SET ESG Ratings (AAA) 2024 for the 2nd consecutive year
- Included in the SETTHSI Index SET Sustainability Awards 2024 Highly Commended
- The Company attended meetings with domestic and international investors, fund managers and media in total of 30 times
- Number of visits through investor relations section in Company website was a total of 20,824 times
Membership of organizations for economic, social and environmental development
The Company has become members of various public and private organizations that contribute to the economic, social and environmental development of the natural rubber industry, and has participated in various activities and projects that support the implementation of the guidelines for sustainable development.
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