PRM
18 January 2022 16:38
5.95 THB
Change (% Change)
-0.10(-1.65%)
Volume (Shares)
8,063,100
Value ('000 Baht)
47,991
Unit:Million baht
Assets
Revenue
Net Profit
Quick Downloads
Annual Report Year 2020
Financial Statement Quarter 3/2021
Management Discussion and Analysis Quarter 3/2021

CSR Policy

The Company is aware of the significance of business operation with sustainable growth while managing corporate social responsibilities, with emphasis on business operation with care to all stakeholders, economic, social and environmental impacts, with integrity, ethics and code of conduct.


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The Company Group realizes on the significance of the sustainable growing business operation under the corporate social responsibility by focusing on the business operation with care on stakeholders, economy, society, and environment under morality and ethics. Sustainability is a key driving of business. Therefore, the Company Group gives precedence to the awareness on both direct and indirect public impact, and incubation of knowledge and understanding, and building of the operating culture under the good governance in all processes to reinforce the public benefit and sustainable growth of the Company, as well as creation of new innovation to satisfy the requirements of all stakeholders based on the intention of being “the Leader of Thai Energy Transportation toward Sustainable Success”.

The Company Group prepares the Stakeholder Management Plan to assess the significance and relationship in the business value chain and the risk analysis for taking into account the all-around stakeholder impacts and create awareness of the employees at all levels for real treatment.

Group of Stakeholders Stakeholder Expectation Response Guideline of the Stakeholder Expectation
Shareholders/Joint Venture Parties
  • Equitable, transparent, and fair shareholder treatment
  • The management of the Company according to laws, objectives, Articles of Association, and resolution of the Shareholders’ Meeting, as well as Good Corporate Governance
  • Generation of good return to the shareholders
  • No creation of damage or conflict of interests to the Company
  • Adequate, equal, correct, and timely acquisition of the key information about the Company
  • Respect to the right of shareholders
  • Supervise to have the equitable, transparent, and fair shareholder treatment.
  • The Board of Directors and the executives perform their duties with honesty, transparency, and fairness, and manage the Company according to laws, objectives, Articles of Association, resolution of the Shareholders’ Meeting, and Corporate Governance Code.
  • The Board of Directors and the executives perform their duties to the best of their knowledge and competency with responsibility, prudence, and carefulness, and non-wrongful exploitation of their own or other person’s benefits
  • Supervise to ensure the adequate, equal, correct, and timely disclosure of the key information of the Company either being the financial information or non-financial information to the shareholders for acknowledgement.
Employees
  • Good, appropriate, and fair return, welfare, and privilege
  • Good and safe working atmosphere
  • Fair appointment, removal, reward, and punishment
  • Continuous development of the knowledge, competency, and internal potential of the employees based on the operating line
  • Hearing the problems, understanding the circumstances occurred with the employees, and full support and assistance
  • Career security and progress
  • Perception of news and information or movement of the Company
  • Provide the appropriate and fair welfare and return to the employees.
  • Maintain the working environment for safety of the employee’s life and properties.
  • Give the equal opportunity in impartial filling, appointing, removing, and passing the assessment based on knowledge, competency, will and work success.
  • Schedule the appropriate yearly training plan both inside and outside the Company for the employees in each department, covering the basic skills, managerial skills, and specific professional knowledge.
  • Provide the opinion hearing channel or the whistleblowing channel for the breach of rules or legal offence.
  • Avoid any acts which are unfair and may affect the career security and neither threaten nor depress the employee’s condition of the mind.
  • Inform the useful news and information to the employees via the Company’s e-mail.
Creditors
  • Fair, transparent, and accountable treatment process without taking advantage
  • Strict compliance with the agreed terms and/or conditions
  • Provision of the correct, complete, and factual information

 

  • Not demand, accept, or agree to accept and not give or agree to give any benefits that are dishonest or not trade tradition to the creditors.
  • The trade negotiations with the creditors must not take advantage, be transparent and fair.
  • Strictly comply with the agreed terms and conditions. In case of trouble until failure to comply with, the Company must notify the creditors, and seek for the shared solutions so that the creditors will receive the same or similar results as usual as most as possible.
  • Provide the creditors the accurate and factual information about the Company.
Business Partner
  • Fair, transparent and accountable treatment process without taking advantage
  • Strict compliance with the agreed terms and/or conditions
  • Creation of confidence on occupational health and safety during working
  • Provision of the correct, complete and factual information
  • Body of knowledge and mutual creation of new innovations for benefits of all parties
  • Prepare the systematic work procedure and review at least once a year.
  • Not demand, accept or agree to accept and not give or agree to give any benefits that are dishonest or not trade tradition to the business partners.
  • The trade negotiations with the business partners must not take advantage, be transparent and fair.
  •  Strictly comply with the agreed terms and conditions. In case of trouble until failure to comply with, the Company must notify the business partners, and seek for the shared solutions so that the business partners will receive the same or similar results as usual as most as possible.
  • Provide the business partners the accurate and factual information about the Company.
  • Prepare the Tanker Management and Self-Assessment (TMSA) Form
Customers
  • Quality and standard services and customer requirement satisfaction
  • Provision of the correct, complete, and factual data
  • Hearing and solving of the problems from use of services
  • Non-disclosure of the customer information or secrets
  • Creation of new innovations for the customer requirement satisfaction.
  • Good relationship and equitable treatment

 

  • Provide quality services by setting the levels and standards of service quality, and strictly comply with the conditions, promises or suggestions given to the customers, as well as maintain the service quality standards according to the professional standard.
  • Completely and factually disclose news and information of the Company Group’s projects and services, whereas the advertisement and publication of the Company’s projects must not mislead the customers.
  • Establish the complaint system for hearing the customer opinions and suggestions about the Company Group’s services and make corrections or clarify the outcomes of complaint process to the customers.
  • Prepare a customer satisfaction assessment form once a year.
  • Establish a non-disclosure measure for the customer information and secrets.
  • Promote and provide the creation of new service innovations to ensure more customer benefits and satisfactions.
Business Competitors
  • Business operation under the framework of law and fair competition
  • Honest business operation
  • No damage of the business competitors’ reputation
  • Behave, conduct and compete in business operation under the framework of fair competition laws and rules.
  • Not seek for business competitors’ confidential information by dishonest or inappropriate methods.
  • Not try to damage business competitors’ reputation by malicious or false accusations.
Government Agencies
  • Compliance with the related laws, regulations of the government agencies
  • Collaboration with the government agencies
  • Hear the opinions and suggestions from the government sector.
  • Share the opinions from private sector to public sector for creating the better understanding in business sector.
  • Collaborate with the government agencies that have duties to govern the business operations of the Company.
  • Strictly comply with laws, rules, and practical guidelines from the government sector.
Community
  • Understanding on the way of community living
  • Participation in the community development in all dimensions to upgrade the living of people in society
  • Hearing of the opinions of the community people
  • Perform field trip to visit the community on the appropriate occasion basis.
  • Hear the opinions, requirements, and suggestions of the community people.
  • Mutually solve problems and support the projects which are useful for the community.
Society
  • Business operation under the social responsibility without cause of the social damage on the whole
  • Compliance with laws or social regulations
  • Profit return to the society
  • Not perform any acts which may cause damage to the society on the whole.
  • Promote and support the appropriate activities for social creation, and profit return to the society.
  • Cultivate the awareness to the employees at all levels to seriously and regularly have social responsibilities.
  • Strictly comply with laws and rules relating to the business operations of the Company.
Mass Media
  • Communication of correct and up-to-date information
  • Involvement and good relationship with mass media
  • Publish turnover news once per quarter.
  • Organize the mass media meeting event once a year.
  • Organize the executive/Company/operating area (vessel) visit activities on the appropriate occasional basis.

The operations of the maritime oil trading business may cause marine environmental pollutions from several ways whether being oil pollution, pollution from toxic liquid in the holds, pollution from marine transportation of dangerous substances, sewage pollution, waste pollution, and air pollution from the vessels, or accident occurrence during transport, resulting in the oil spill to the sea. In spite of the few incidents, but the damage is widely caused, particularly in the marine ecosystem, that will affect human either directly or indirectly. That is why the countries have been aware of the significance on managing the environmental pollution problems from marine oil transport, enacting the laws for the navigation standard and safety control, and pollution control, and internationally cooperating to determine the navigation standards.

The International Maritime Organization (IMO) has played the key roles in determining and carrying forward to have the international laws for navigational pollution prevention. For instance, the International Convention for Prevention of Pollution from Ships A.D. 1973 which has been amended by Protocol A.D. 1978 later, and well known in the name of MARPOL 73/78 Convention, has the objective to prevent and reduce the pollutions caused by vessels no matter either being the pollutions caused by routine operations or caused by accident.

In the Company’s capacity of the business operations under such supervision of the International Maritime Organization (IMO) through the flag state, the Company Group gives precedence and strictly complies with the requirements and laws of both domestic and foreign supervisory agencies all the time for good and sustainable corporate governance of the Company and the Group.

  1. Management of the Ships’ Ballast Water


    In freight shipment by ocean liners, the ships’ ballast water is used to adjust the center of gravity to make well balance of the ships. However, pumping and transfer of the ships’ ballast water is a cause of problem of the movement of the nonlocal plant and animal varieties to the new environment. Some varieties can rapidly grow and breed, affecting the balance of ecosystem and economy, and possibly the pathogenesis for humans. Therefore, the International Maritime Organization (IMO) has developed the International Convention on the Control and Management of Ship’s Ballast Water and Sediment, which was announced on 8 September 2004 and promulgated to be effective on 8 September 2017, to prescribe that all ships transporting in the international territorial waters shall install Ballast Water Management System (BWMS). The ballast water must be treated according to the standards particularly before draining seaward. However, subject to the said International Convention, it prescribes that the fleet of new ships shall be built. BWMS shall be installed in the ships which are built after 8 September 2017 from the ship building dock in the beginning. In the fleet of existing ships which are built before 8 September 2017, this International Convention which is effective from 8 September 2024 shall be executed. This has resulted in the requirement of all ships with international traffics to install BWMS and to execute according to the Ballast Water Management Plan particularly of each ship, and covered the requirement of all ships to have Ballast Water Notebook and to be certified for the ballast water management according to the international standards.

    Management Approach  
    In this regard, the Company Group has mutually, continuously, and properly planned to work according to the said International Convention and has been able to install the ballast water treatment system according to IMO Standards for the ships transporting in the international territorial waters. The Company Group has mutually and comprehensively considered on the installation of BWMS of each ship, for instance, Ship Renewal Survey Period, according to the International Oil Pollution Prevention Certificate (IOPP) and in the period of maintenance and ship docking of the Company Group to avoid the operating impact.
    Operating Result
    At present, Ballast Water Management System (BWMS) has been installed with three ships in the Company Group’s fleet. In installation of such system, the Company Group has firstly considered installing on the ships transporting in the international territorial waters according to the period of maintenance and ship docking.

  2. Prevention of Air Pollution from Navigation


    The international trading vessels and freighters have currently been the large origin of Sulphur dioxide (SO2) due to the consumption of the sulfur containing fuel. This gas is harmful both to the creatures and ecosystem, and also causes the acid rain and respiratory disease. Therefore, to mitigate the maritime pollution and air pollution, and reduce the emission rate of Green House Gas (GHG) causing global warming, the International Maritime Organization (IMO) has established the requirement for consumption of the low sulfur fuel oil promulgated on 1 January 2020 (“IMO2020”), whereas the carrier shall consume the fuel oil containing low sulfur not higher than 0.5% by weight formerly from 3.5% by weight in the ship fuel, or install Exhaust Gas Cleaning Scrubber to reduce the emission of SO2 in the air, as the control of Ozone-Depleting Substances, NOx, SO, and particulate matter.

    Management Approach
    In this regard, the Company Group has executed to support the situations according to the IMO2020 measure by establishing a policy for changing to consume Low Sulphur Fuel Oil (LSFO) not exceeding 0.5% by weight of sulfur in the ship fuel for the fleets which provide services or need to transport in the routes outside Thai Sea Boundary according to the International Maritime Organization (IMO) in all respects; controlling and monitoring the efficiency of the engine which is adjusted to consume the said LSFO.
    Operating Result
    The Company Group has announced to consume LSFO not exceeding 0.5% by weight as fuel in all ships from 25 December 2019 onwards to declare its intention of the cooperation and creation of international level standards. All international tankers of the Company Group have been completely passed for inspection and granted for the international certificate of air pollution prevention.

  3. Aboard Waste Management
    The departure of one ship from one point to another point makes the ship sailing in the sea for a certain period. In addition, the activities under the shipment mission, the crew activities whether being the living activities, such as cooking or recreational activities, must be performed aboard. For all activities of aboard crews, foodstuffs, facilities, and public utilities are necessary for carrying in one ship to be adequate for each navigation. These things are the origin of aboard wastes which are needed to be properly managed to prevent not to affect the marine environment and ecosystem.

    Management Approach
    According to the aboard waste management of the Company Group, the aboard incinerator installation policy has been established according to the conditions prescribed by International Maritime Organization (IMO) that an incinerator installed on the ship built from 1 January 2000 or an incinerator installed on the ship from 1 January 2000 must conform to the standards determined by the IMO and granted for the certificate called the IMO Type Approval Certificate. The waste incineration shall be performed in the incinerator only, and some wastes, for instance, exhaust gas cleaning system residues, and polychlorinated biphenyls (PCBs), etc. are prohibited for incineration.
    Operating Result
    The Company Group has installed the incinerator according to the standards prescribed by the IMO, and has been granted for the IMO Type Approval Certificate for all ships in the fleet.

  1. Fair Business Operation
    The Company aims at the honest, fair, and ethical business operation under code of conduct and upholding the business competition according to the principle of ethics in business operation, laws, and the principle of  equitable business competition, and denies any behaviors that obstruct the fair competition, for instance, acquisition of the business competitors’ confidential information, demand, accept, and do not give any benefits which are dishonest in the business for purchasing assets, etc.  
    Moreover, the Company respects to other person’s right of intellectual property by establishing a policy for the personnel’s observance with laws or requirements relating to the right of intellectual property, such as the use of lawful copyrighted computer program, etc. In addition, the Company initiates the Subconsciousness Encouraging and Creating Campaign Project for its personnel at all levels to have social responsibility.
    Good Corporate Governance
    The Board of Directors has prepared the better corporate governance policy in writing from 28 April 2016 according to a guideline prescribed by the Office of the Securities and Exchange Commission, and the Stock Exchange of Thailand, as the guideline for operating the Company and its subsidiaries, and creating the efficiency and transparency that causes the third party’s confidence in the Company’s business operations.
    Code of Conduct
    The Company realizes on the significance of ethics and code of conduct which should be adhered by the Board of Directors, all executives and employees as a guideline of duty performance and treatment to the related parties. Therefore, the Company’s business code of conduct is established in writing to be used as the working standard of the Company.
    Operating Result
    From the will of the business operation by adhering to the Company’s Corporate Governance Code, the Company earned the score in good corporate governance in “Excellent” or “5 Star” level for the second consecutive years (2019 – 2020) from the Corporate Governance Survey Project for the Listed Companies 2020 (or CGR 2020), indicating the will and determination on developing the standards and maintaining itself to fairly and ethically operate its business on continuous basis.
  2. Anti-Corruption
    The Company manages its business based on the transparency, ethics, adherence to the Corporate Governance Code, and compliance with the laws relating to the prevention of corruption and anti-corruption, giving bribe to or accepting bribe from the government or private officers. The Company has clearly structured its organization to allocate duties and responsibilities, work process, and chain of command in each work units to ensure the appropriate balance of power and conciseness in cross checks.
    Operating Result
    The Company has been certified to be the member of the CAC Project from the CAC Committee since 2019. The said certification is valid for 3 years. In last 2020, the Company has none of any complaints or whistleblowing of offences or corruptions.
  3. Respect on Human Rights
    The Company establishes a policy for supporting, respecting and protecting the human rights by treating the related parties whether being the employees, the surrounding community and society with the respects on the humanity value, concerning on the equality and equal freedom, non-infringement of fundamental freedoms, and non-discrimination whether in the matters of race, nationality, religion, language, skin color, sex, age, education, physical condition or social state. The Company also supervises the Company’s business not to be involved with the infringement of human rights, for instance, use of child labour, sexual harassment, etc. In addition, the Company promotes monitoring the compliance with the requirements of human rights by arranging the participation in opinion expression, and complaint channels for the victim from the infringement of right due to the Company’s business operation, and taking the appropriate remedy action.  
    However, to efficiently respect the human rights, the Company creates the body of knowledge in human rights, and cultivates awareness for the Company’s personnel to comply with the principle of human rights.
  4. Fair Labour Treatment
    The human resource development and fair labour treatment are the factors contributing to the addition of the business value, and reinforcement of the competitiveness and sustainable growth. Thus, the Company Group has established the following policy and practical guideline.
    (1)   To respect the employees’ rights according to the principle of human rights and comply with the labour laws.
    (2)   To establish the fair employment process and employment conditions, as well as determination of remuneration, and consideration on the performance and feat under the fair performance assessment process.  
    (3)   To promote the personnel development by organizing trainings and seminars, and sending the personnel to attend seminars, and train the academic matters relating to development of knowledge, competency, ability and potential of the personnel, as well as cultivation of good attitude, morality, ethics, and virtue, and teamwork to the personnel.
    (4)   To provide welfare in various areas for the employees as required by laws, for instance, social security, and other than the requirement of laws, for instance, health insurance, and accident insurance, provident fund, and different types of contributions to the employees, for instance, children scholarship, and funeral grant, etc.
    (5)   To provide the annual medical examination service for the personnel at all levels of the Company by considering from the risk factors based on level, age, sex, and working environment of each person.
    (6)   To execute for safe working of the employees, and good sanitation in workplace by establishing an accident prevention measure, reinforcing the employees’ awareness on safety, organizing trainings, encouraging the employees to have good sanitation, and keeping workplace to be always hygienic and safe.
    (7)   To give the employees the opportunity to enable to express their opinions or complain on the unfair treatment or improper act in the Company, and protect the employees who report such matters.
    Personnel Management and Development Policy
    The Company establishes the personnel management and development policy to declare its persistent intention in well recruitment, supervision, and retention of the Company’s personnel to be consistent with the Company’s business operation strategies and goals both in short-term and long-term. Moreover, the anti-corruption measure is applied as part of personnel management and development processes.
    Occupational Safety, Health and Environment
    The Company establishes the occupational safety, health, and environment and promulgates for the companywide enforcement.
  5. Customer Responsibility
    The Company aims for developing the services of the Company and its subsidiaries for the customer’s satisfaction and maximum benefit, and adhering to the customer treatment with the customer responsibility, honesty, and care as if the family member of the Company as follows.
    (1)   The Company mainly takes into account its quality and standards by aiming at the quality and standard services to ensure the customer’s use of quality, hygienic, and maximum satisfying services. In addition, the Company foresees the significance of providing the knowledge and understanding on the services. The Company’s employees shall perform their duties to provide the proper and complete service information.
    (2)   The Company initiates the project for the continuous developing and inventing the new services to ensure that the customer requirements are fulfilled and the customers use various quality and standard services to meet their requirements.  
    (3)   The Company adheres to the fair marketing under the action policy to ensure that the customers acquire the Company’s service-related information which are correct without distortion, ambiguity, or false advertising, to ensure that the customers have the correct and adequate information for making decisions.
    (4)   The Company takes into account the customer safety, and always aims for the customer’s use of quality and safe services according to the international safety standards, rules and regulations, and according to the requirement of law, as well as design, creation, and development of services to ensure the customer’s confidence on the Company’s service quality, standard, and safety.
    (5)  The Company establishes the customer relationship system to be efficiently used in the customer communication and acceptance of the complaints on service quality via the Company’s Website to rapidly fulfill the customer requirements.
    (6)   The Company keeps the customer information confidential, and does not misuse such information.
    (7)   The Company organizes the activities to reinforce the sustainable relationship between customers and between the customers and the Company.
    Certification of Service Standards
    The Company has been granted for the Quality Management System Standards ISO 9001:2015 according to the international standards from Bureau Veritas Certification (Thailand) Company Limited.
    Customer Relations
    The Company manages the customer relations system to accept criticisms in services and accept the notification of complaints on the service quality to rapidly fulfill the customer requirements. The customers can send the issues to the Company at Marketing Department, or at e-mail: PRMoperation@primamarine.co.th.
    Operating Result
    The Company has delivered the service-related customer satisfaction questionnaire to yearly assess the operations which are useful for developing and upgrading the operating standards and quality once a year. The results of customer satisfaction survey are as follows:

  6. Joint-Development of Community or Society
    One of the joint-developments of community and society is the contribution to strengthening to the community by creating the body of knowledge and jobs, and developing people. Therefore, the Company Group establishes the policy for assisting and supporting the activities with the community in the surrounding operating area, and responding the incidents affecting the community, society, and environment as the result of the rapid and efficient operations.