The REIT Manager has a policy to manage the Trust with transparency to all related stakeholders for the best interests of the unitholders. The REIT Manager gives priority to the good corporate governance (Please see more details on the topic “Corporate Governance”) as well as business operations with responsibilities to society and environment. The REIT Manager has carried out the policy based on the Stock Exchange of Thailand’s guideline on corporate social responsibilities.
Business Operation Fairness
Operating the business with fairness is one of business ethics which the REIT Manager gives priority to and always practice when managing the Trust. The REIT Manager shall manage the Trust with strictly compliance to related laws including the Securities and Exchange Act B.E. 2535 (with amendments), the Trust for Transactions in Capital Market Act, B.E. 2550 and Rules and Regulations of the related regulators as well as to the provisions in the Trust Deed. The Trust shall be managed under good governance principles, avoiding practices or actions that could pose conflicts of interest, promoting free and fair trade competition. All tenants shall be fairly treated. There shall be no propaganda or false advertisement which may mislead and cause damage to consumers. All the above practices are aimed to be fair to other business operators, the unitholders, business partners and related stakeholders, which will build investor’s confidence in the long term.
Respect for Human Rights and Fair Treatment to the labor
The REIT manager focuses on the fundamental rights of individuals including the right to life and liberty, the right to equality under the law, the right to freedom of speech, the right to work, the right to basic healthcare as well as right to social security. The REIT Manager also provides to staff a chance to show their potential, encourages them to express their idea freely, and provides opportunities to enhance their knowledge and skills continually. The details are as follows:
- Provide work process and system that focuses on proper safety and healthcare in the workplace. Provide a clean workplace to prevent safety hazards that may arise from accidents and disease, including encouraging employees to have a good health through annual health check program;
- Enhance staff’s skill and potential by providing an opportunity for employees to learn and to be promoted when the opportunity is right;
- Provide fair employment conditions for employees and provide reasonable compensations that fit their capacity;
- Provide employee’s welfare such as annual vacation, medical treatment as necessary and appropriate;
- Provide important information to employees and employee representatives about the actual conditions and operating results of business entities;
- Promote collaborations among employers and employees to improve work life quality.
Responsibilities to Consumer
The Trust invested in the assets which are land and warehouse and factory buildings and appointed TPARK and TICON as the property manager. (Please see more details on the topic. “Property Manager”.In property management, the Property Managers focus on fair and responsible treatment to the tenants, taking into account their health and safety.
- Construction of the buildings done by business partners who are responsible contractor with high standard;
- Deliver products and services with high quality, safe and not harmful to tenant’s health;
- Contact the tenants politely, effectively and trustworthy.
The REIT Manager recognizes the importance of environment preservation and treats that to preserve the environment is a shared responsibility of everyone. Therefore, the REIT Manager encourages its employees to use resources efficiently, with regards to energy saving measures and recycling and reuse of materials. The REIT Manager also provides knowledge and training to employees on environment, safety and healthcare.
In addition, the Property Managers have a policy to build modern and safe warehouse and factory, with no impact on the environment and with ability to respond to social needs and environmental protection to customers. TICON, one of the Trust’s property managers, has developed a green factory building that is environmental friendly (Green Building), which has been certified as a building that is environmental friendly by the standard of “LEED” or Leadership in Energy and Environmental Design from the U.S.Green Building Council (USGBC), a leading certification body of green building standards in the United States. TICON is the first developer of factory and warehouse in Thailand certified with LEED Certification. In addition, the property managers also focus on preserving the environment around its factories and warehouses so that to people who live nearby can live their daily life in a better and quality environment.