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Socioeconomic Compliance

Significance
The Company’s business is subject to permits, licenses, laws and regulations, especially in the social and economic areas. A failure to comply with such requirements can result in significant fines, non-monetary sanctions, or, ultimately, loss of license to operate. Monitoring socioeconomic compliance is therefore part of day-to-day business operations.

Management Approach
The corporate compliance management system has been developed based on ISO19600 with 4 key measures as follows:

1. Identify compliance risks by monitoring relevant laws and regulations at all countries where the Company operates
2. Conduct compliance self-assessment whether there are any risks in regards to non-compliance at each business unit
3. Provide support to business units to ensure compliance status
4. Report compliance status to the management and the Audit Committee  regularly

To ensure the effectiveness of compliance management system, the Company enhances compliance awareness of the employees through various communication channels, including monthly e-newsletters and in-house training sessions. Moreover, compliance development has been established at each business unit as a directly responsible function. The examples of key risks which may lead to a non-compliance are described as follows:

Aspect Example of laws and regulations
Business ethics · The securities and exchange act
· The code of best practices of directors of listed companies
· The principle of good corporate governance
Employment · Labor law
· Occupational health and safety law
Community · National heritage and culture law
· Indigenous protection law
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