Boardroom vol 53 (4/2017) by Thai IoD

Boardroom

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Exclusively For Company Directors

Issue 04/2017 | ISSBN 1513-61755

BOARD CHALLENGES

Content

Boardroom

Vo l . 5 3

Exclusively For Company Directors

Issue 03/2017 | ISSBN 1513-61755

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Board of Directors

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Prof. Hiran Radeesri

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BOARD CHALLENGES

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Vol. 53 Exclusively For Company Directors

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ISSBN 1513-61755

Board Welcome

CEO Reűections Cover Story Cybersecurity: Risks, Liabilities, and Best Practices

08 10 10

Story Telling Board Development CG in Emerging Markets in Thailand The Trend of Independent Directors with the Framework of Corporate Governance Chartered Director Corner Anti-Corruption Update Anti-Corruption in Practice Global Trends on Anti-Corruption Legal Update

Legal Issues in Thailand Raised by Ransomware Attack Board Review Board Activities Member Corner Board Success Welcome New Member

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Mr. Krik-Krai Jirapaet

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Vice Chairman

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Ms. Potjanee Thanavaranit

Mr. Prasan Chuaphanich

Mr. Weerasak Kowsurat

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President & CEO

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Mrs. Kesara Manchusree

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Khunying Jada Wattanasiritham

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Prof. Kovit Poshyanand

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Honorary Chairman

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Dr. Bandid Nijathaworn

Prof. Kitipong Urapeepatanapong Mr. Charamporn Jotikasthira Mr. Chaiwat Utaiwan

Mrs. Nualphan Lamsam

Mr. Banchong Chittchang Mr. Predee Daochai

Mr. Paiboon Kittisrikangwan Mr. Pailin Chuchottaworn

Mrs.Patareeya Benjapolchai Mr. Rapee Sucharitakul

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Member Engagement Committee

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Dr. Chatchavalit Saravari

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Mr. Norpong Suksanguan Mr. Teerayuth Tantraphon Ms. Pacchanya Chutimawong Mr. Wattana Laipermpoon Pol.Lt. Sivaraks Phinicharomna Asst.Prof. Anucha Chintakanond

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Mr. Apiwut Pimolsaengsuriya

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Thai Institute of Directors Association

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Ms. Siriporn Wutthigul

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Ms. Sarinee Ruangkongkiat

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Mrs. Wilairat Nensaengtham

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Ms. Suthinee Kerdchuay

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Contact

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Northpark Project,

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Thungsonghong, Laksi, Bangkok

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Website : http://www.thai-iod.com

E-mail: sarinee@thai-iod.com

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E-mail: sarinee@thai-iod.com

Fax: (66) 2-955-1156-57

Website : http://www.thai-iod.com

Board Welcome

BOARD

WELCOME

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in this issue of the Boardroom for those readers who were not able to attend the seminar. Further, the Board Review column contains recommended books that would be of interest for our readers, such as: The Art of Invisibility, written by a famous hacker on how to access and tour around the ‘online world’ without being traced or tracked.

We have already gone through half of 2017. The IOD hopes that all our members have successfully achieved their work plans and business goals as targeted at the start of the year. This Boardroom Magazine is the 4th issue for this year, and presents an overview of the various challenges corporate boards must be prepared to face in this fast changing global and business environment, namely: cybersecurity, which is a major problem for many companies throughout the world that have been subjected to attacks by hackers in accessing or stealing important confidential corporate information as well as in asking for a ransom or in forging important corporate documents. Such cyberattacks have caused much damage to both company assets and corporate reputation. As such, the IOD held a seminar addressing these issues: Cybersecurity: Risks, Liabilities, and Best Practices, so that members of Boards of Directors can be informed and well-prepared regarding these important matters. A summary of the various key points presented is contained

Apart from the above challenges, Board of directors need to possess various other skills, such as in “Story Telling” which Mr. Apiwut Pimolsaengsuriya shared in a seminar on how to effectively tell a story in a systematic process and manner.It was an interesting seminar with easy to remember takeaways. He also recommended that we should read A Peacock in the land of Penguins, an important book on key philosophies for or principles on how to work, that enablesus to see clearly what will happen if we try our best to act and to be ourselves within a corporate environment that has been created by executives who have differing points of views about the world. In this issue, we have also presented a summary of this book in the Board Review column.

Furthermore, this Boardroom issue presents an interview with Dr. Rojanasak Chomvilailuk, the latest qualified Member of the IOD Charted Directors Pool, on his views relating to the Board Directors nomination process and on the role and duty of Board Directors in achieving good corporate governance, as well as on ways for self-development so as to be effective in your work and duties. Finally, the Board Activities column presents an overview of the various activities undertaken by the IOD during July and August; and the Board Success column presents photos of the positive and happy ambiance during the DCP Certificate presentation ceremony for the latest the DCP Classes of 237-241. Readers can submit various articles and points of view relating to your respective areas of expertise that would be of interest and benefit to your fellow IOD Members, as well as can submit any good news about yourselves so that we can congratulate you on your successful achievement, job promotion or on receiving of any awards. Any such articles, viewpoints or news should be sent to suthinee@ thai-iod.com.

Furthermore, the Board Development column presents various good points, such as: future trends relating to Independent Editorial Team Directors within the framework of good ----------------------------------------------corporate governance; changing volatility into sustainability within emerging or new markets. The new Legal Update column presents various hot legal issues that Board Directors should read. The contents of this column has been kindly supplied and supported by Hunton & Williams (Thailand) Co. Ltd., for which the initial column presents legal issues in Thailand relating to being attacked by ransomware. Boardroom | 7

CEO Reflections

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8 | Boardroom

Key contents of this edition of Boardroom Magazine are about challenges Board of Directors face while trying to perform their duties properly. In this regard, below is a discussion of some of the most pressing issues IOD is addressing:

become a leadership board that spends more time on important issues that will have a material impact on business in the future. Some of the key issues it must deal with are strategic planning, succession planning, risk management and good corporate governance. A leadership board First, the board has to steer companies can help companies overcome challenges through difficult business challenges, by tapping their extensive experiences derived from intense competition and the and knowledge. constantly changing business environment. Companies are not doing business in Third, the board must act as a robust isolation, but, instead, are part of a global example of an ethical board. Currently, system that is constantly changing because governance issues and unethical practices of new regulations, changes in consumer are frequent news headlines. Even at major taste, new technology, market volatility, corporations, there still are cases in which changes in the political climate and natural staff members, including senior executives disasters. ignore the governance code and seek personal benefits from their roles rather As these changes can have tremendous than performing their duties with a high effects on performances and compliance moral standard. In reality, rules, regulations practices, companies need to adapt and compliance systems cannot accordingly to stay afloat and keep up prevent some egregious practices if to date on the business environment. the staff members do not recognize the In this regard, the board members must consequences of them and develop a apply their knowledge and competencies sense of integrity. One key challenge to help companies adjust, assuming the for the board is to promote an ethical role of a sounding board that provides corporate culture to mitigate potential valuable advice to enhance the decision- problems and risks. making process of the management. In other words, a board must be proactive. In my view, these are three key challenges that boards are facing. Each of these Second, the board must shift from challenges is not easy to deal with but focusing on the past performance and there are ways to tackle them and many compliance practices to more forward- of the related issues are being discussed looking issues that could potentially in this edition of Boardroom. affect business in the future. It needs to

Boardroom | 9

C o v e r S t o ry

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_COgYI;S9gW 31 $E$0T'C9>gWTg;CT 9T* IOD EIgC$<S Hunton&Williams (Thailand) +6S*T; IOD Breakfast Briefing 2/2017 b;MIS%Oh Cybersecurity: Risks, Liabilities, and Best Practices _@OgYC*gZMI*SbM$hEEC$TE7ERM;$S 8*X>G$ER9<9_gW$6V%;hX+T$ Cybersecurity EIC8*X$TE=Oh*$;S'ITC_LDgW* 'ITCE<S>6V%O* $EEC$TE`GR`;I=1<V7S9V6gWW a6DC>W_h[-DgWI-TÂ&#x2030; 2 9Tg;9CgWTbM`h;I9T*$TE=1<V7SV 'OY Mr. Manuel E. Maisog, Partner, Hunton & WilliamsBeijing Office `GR'5ZCT;6VT .;V_COE`kC; Partner, Hunton & Williams (Thailand) Limited b;=+S+<Z;S_ETc6Dh;V'TUITg Cybersecurity OD[ 9Z$IS; _;YgO*+T$CW% TI'ETI$TE%aCD %OhCG[ GIh*%OhCG[G<S_$6V%;hX9IgSaG$ a6D_,@TR -Ig*9>gWTg;CT ER<<'OC@IV_7OE$kITg150 =ER_9J c6Eh<S$TEa+C79WT*c._<OEak6D `E;.CS`IEk (Ransomware) MEOY_EDW$*TgDe ITg a=E`$EC _EDW$'Tgc8â&#x20AC;?g $GTgI'OY `P$_$OE+kRGOf'%OhCG[ 7Tg* e 9UTbM_hETcCLgTCTE8_%Th8*XcAGMkEOY %OhCG[%O*<EKV9Sc6h .*gX8ThMT$ODT$+Rc6h %OhCG[$G<S';YCT <EKV9S7Oh*9TU$TE+TgD_*;V 'Tgc8bgM$h<S`P$_$OEk `79g*hS;OhWT++RcCCgLW+S+R

b;MCag[+E _COgY+TgD_*;V`GIh cAGOkT+D*ScCg LTCTE8_=6Vc6OhD6g[W =9W`gWGIhC$WTE_=6V_>D % OC[GI TCW<EVKS9c6 + TD' T`E;.SC`IE bM $S< `P$_$OEck=`GIh `CIhTg+R_=;f+TU;I;cCCgT$ 7Og<EKV9S `7_gCOgYEICe `GIhCCWG['TgL*[9_W6DWI 9U b Mh CW $ T E @ D T D T C ` P $ %h O C[ G 9gW C T $ %hX ; $TE@DTDTC_+TRER<<_@gYO%aCD%hOC[Gb; G$SK5R;ChWCWT$8*X 200 <EKV9S `7_g=;f9;gWTg =ERMGT6b+ 'OYC<WEKV9S8*X 40% 9_gW@$V_,D c Cg 7 E RM ;S $8X * ' IT C_ LW DM TD 9gW OT + _$V 6 %hX ; `GR<EVKS9_MGgT;hW+RES<CYOODgT*cEMT$$TE %aCD%OhCG[LTU_E+f

Mr. Manuel c6<hO$%;hS7O;$TEE<SCOY $<SDr.=Â&#x2030;SSupachai MT6Th;c.Panichpakdi _<OEckIh 11 %;hS7O; 'OY 1. Event _COgY_$6V_M7$ZTE5`kGIh bM = E R _ CV ; Ig T %h O C[ G 9gW EgS I c M G c = _ =f ; %h O C[ G 9gW LUT'Â&#x2030;SMEOYG<SCT$_@DW*cM; ODbg[;'ITC E<S>6V-O<%O*b'E `GR7Oh*7EI+LO<G*c= 8*XER6<SGTg* a6DbM@h;$S*T;ER6<S=1<V7S$VTE _%ThCTCLWIg;EIgC _@OgYMTLT_M7bZ;$TE`$ch% c6OhDTg*8$[7Oh*7E*+6Z

9Sh*;Wh $TE= O*$S;9Wg6W'YO <EVKS97 O* = E R _ CV ; $g O ; Ig T < EV KS 9 CW %h O C[ G Lg I ; c M ; 9gW LIg;bMÂ&#x2030;'gITC>6V@GT69_gW$6V%;hX;hW _$6V LUT'Â&#x2030;S<Th* C'WITCLUT'Â&#x2030;SER6<Sb6 $UTM;6 +T$ 2 LIg;bMÂ&#x2030;eg 'OY 'ITC>6V@GT6+T$ L9V:$kVTE_%Th8*X%OhCG[ 'ITC`;;gM;T%O* ER<<=Oh*$;S9cgWCEg6S$CZ MEOYcCCg=WERL9V:BVT@ ER<<b;$TE_%Th8*X 9_gW@DW*@O `GR'ITC>6V@GT6+T$<'Z'G 2. Mobilize _COgY=ER_C;V_M7$ZTE5k BTDb;O*'$kE9_gW@$V_,D GR_GD7Og$TE_$<f E$SKT%OhCG[ O;S;TUc=L$g[TE%aCD%OhCG[+T$ `GIh 'IEC$WTEER6C_+ThM;Th9+gWT$M;IgD*T; BTD;O$c6*hTgD%;hX MEOY<'Z'GBTDb;9T$TE U 7Tg*e _-;g ><h[EMVTEER6<SL*[ ?TgD IT ?TgD %aCD%OhCG[_LDW_O* `GR_COgY_$6V_M7$ZTE59kgW $0MCTD ?TgD=ER-TLCS@;S:k _@OgYEIgCIT*`>; %OhCG[EIgScMGc=`GIh;;hS _ETb;2T;R$EEC$TE $TEE<SCOYb;6Th;7Tg*e b;LIg;;OhWT+C<W'Z'G B T D ; O $ _ %h T C T -g I D 7 E I + L O < _ @gY O b Mh 'UT +R9UTODTg*cE `;R;UTb;6Th;7Tg*e 7Oh*$TUM;6>Eh[<S>6V-O< B o a r d r o o m | 11

bM-h6S_+; b;9CW*T;;'hWIE7Oh*C>WCh[OWU;T+b; $TE76SL;Vb+MEOYL*gS$TE `GR7Oh*C>W_h[-DgWI-TÂ&#x2030; b;$TE9UT*T;_-*V_9';'V _M;OYO;gYb67Oh*CW 9ES@DT$E9gWLO6'GhO*`GR_MCTRLC$S<$TE 9UT*T; 3. Legal Posture $UTM;69JV9T*6Th; $0MCTD =ER_C;V`;I9T*'ITC_LDWMTD9gW _$6V%;hX `GR=ER_C;V'ITC_LDgW*$<SL*gV9+gWR 7TCCT @EOhCIT*`;I9T*$TE6TU_;;V$TE 4. Law Enforcement _COgYc6IhT*`>; _EDW<EOhD`GIh 7Oh*@+VTE5T7Ogc=O$WITg7Oh* `+h*7TEI+ U MEOY Regulator MEOYcCOgDTg*cE _@OgY$TE<*S'<Sb-$h0MCTD

Mr. Manuel E. Maisog

Ms. Manida Zinmerman

5. Stabilize 9UTbMMhD6Z$TEEIgScMG MEOY +UT$6S'ITC_LDWMTD9_gW$6V%;hXbMch6h EIC8*X 'ITC_LDWMTD9OgWT++R_$6V%;hX7Ogc= 7TCCTc6 a6D_,@TR_EOgY*I;S _IGT L8T;9gW %O*ER<< $TE?$XO<EC@;$S*T; C$WTE76V7TC $TE`$ch% %;hS7O;$TE6TU_;;V*T; +R7Oh*7E* 'ITC=ER@F7%VO*@;$S*T; _=;f7;h 6. Investigate C$WTELO<LI;_@OgYMT c=7E*CT _=GDgW;`=G*cCcg6h _@ETRMT$_$6V LT_M79Z`gW9+hE*V 9UT*T;EIgC$<S_+ThM;Th9+gWT$ $ T E _ = GgW D ; ` = G * O T + ;U C T .gX * ' I T C c Cg c Ih b ; - I * 9 T D % O * $ T E < E E D T D MGTD?TgD _@OgYMT%OhCG[`GRL<YMT7IS';EThD IT*b+7Og*>Ch[LWIg;c6LhIg;_LDW Mr. Manuel bMMhG$S*TgDe LUTME<S$TE=Oh*$;S Cybersecurity ITg 7. Legal Analysis b- _+ TM; T9Wg 9. Regulatory Response ;O$+T$ 1. 7Oh*MC;gS=ER_C;VBDS'$Z'TC7Tg*e 9gW $0MCTDb;$TEI_V'ETRM'kITC_LDWMTD `GR $TE_7EDWC$TEBTDb;O*'$kE`GIh <EKV9S'IE OT+_$6V%;hX =ER_C;V'ITC>6VITg_$6V+T$+6Zb6 `GR7Oh* 7Oh*=ERLT;*T;c=9T*M;IgD*T;7Tg* e 9gW 2. %OhCG[LIg;cM;9LgWTU'Â&#x2030;S 9UTODTg*9;S9Ig*9`WGR7Og_;OgY* _$DgWI%Oh* _@OgY`+*h_EOgY*9_gW$6V%;hXbM9hET<`GR 3. 7h O * OS @ _ 6 9 %g T I L T E _ EgY O * c . _ < O Ek _ =f ; =ER+UT 9UT*T;c6OhDTg*C=WERL9V:BVT@ 8. Notify 7Oh*C$WTE`+*h `8G*%OhCG[9gW 4. 7 O *+S 6 LEE*<=ERCT5LUMES < $TE _$V6%hX;+EV*bMh$S<>h[CWLgI;c6hLgI;_LWD9Z$?gTD =Oh*$;SODTg*_@DW*@O 10. Lawsuits $TE6UT_;;V'6'WITC+R 9ET< @EOhC<O$I:V`W$ch%`GR=Oh*$;S 7Oh* _$6V%;hX+T$b'E MEOY$GCgZb6c6<hTh* _@ETR 5. C$WTELETh*CT7E2T;$TEETD*T; <O$8*X%;hS7O;$TE9T*T; U $TELO<LI; 9gW =+S+<Z;SC$WTEAOh*EOh*_=;f$GCgZCT$%;hX 6. ODTgcIIhT*b+7OgCT7E$TE9CgWOWDg[ 7Oh* LU'S Â&#x2030; 7 O *'U ;X * 8X * @hY ; 9gW $ T E EgS I c M G % O * MC;gS7EI+LO<`GRO@S_69OD_g[LCO %OhCG[ITg_$6V%;hXb;@;hY9bgW6 ODTg*<T*@;hY9gW 11. Review&Improve $TE9<9I; _COgY _-;g`8<LMBT@DaZE= (EU) MEOYAGV=V=;VLk CW _$6VI$VF7$VTE5`kGIh ODTg=GOgDbM_hLDW_=GTg 9T*6Th;'5ZCT;6VT <EEDTD8*X$0MCTD $0MCTDIgT+R7hO*`+h*_EgYO*$TEEgSIcMG%O* 'IEEI<EIC`GR9U<EEDTDMEYO<S;9X$cI I T `GR@.E.<. 9$gWTUM;6b-bh;=+S+<Z;S `GR,<<SETg* %OhCG[BTDb; 72 -IgSaC* `CIhTgb;'ITC_=;f+E*V 76SL;Vb+7Og_M7$ZTE5OkDTg*cE _@ETR_M7bZ6 a6D,<S<9gWCW>Gb-h`GhI;hS;_;hYOMT_$gWDI$S<_EgYO* _IGT 72 -IgSaC*8OY_=;f_IGT9;gWOhDc= _@ETR C$WTE6TU_;;V$TEODTg*cE `GRC$WTE=1<V7S7VOg Hacker `GR Ransomware c6`h$g @ERET%OhCG[9EgWI<EICcIDh*ScC_g@DW*@O7Og$TE-`hW+* <'Z'G7Tg*e ODTg*cE _@OgY_=;f=ERaD-;bk;$TE <Â&#x2030;SÂ&#x2030;7SIVTg6IhD$TE$ER9TU'ITC>V6 _$DgWI$<S 9UTETD*T;7Og'5R$EEC$TE`GR_EOgY*O;gYe 9gW 'OC@IV_7OEk @.J. 2550 =ERCIG$0MCTD b;$TE-Wh`+*;Sh; <EVKS97 O*@E OCCW _$DgWI%Oh* _-;g $TEAOh*EOh*BTDMG*S _=;f7;h `@*g`GR @T5-VDck9D CT7ET 420 `GRMG$S$TE 'ITC@EOhCb;9$Z6Th; C$WTEERC6SERI*S'TU@6[ ;O$+T$;hW _COgY_$6V_M7$ZTE5`kGIh 'IE;UT $UT$<S6`[G$+V$TE96gWW LUTME<S<EKV9S+69R_<DW; 9bgW-h 7Oh*C$WTE=E$XKT$<S?TgD7Tg* e _@OgY -Og*aMI9g@gW<c==E<S=E*ZER<< `GR=Oh*$;SbMh = 2560 'ITC=GO6BSD`GRG6'ITC_LgWD*9gWOT+_$V6 E6S$CZCT$D*gV%;hX7Ogc= 9*hSb;`*'gITC9;SLCDS 12 | B o a r d r o o m

'ITC_LWDMTD9gW_$V6%hX;+T$BSD'Z$'TC 9T*c._<OE +RL*g>Gb;ERDRDTI7Og<EKV9S ` G R $ E E C $ T E + R O Dg[ b ; 2 T ; R >h[ ES < >V 6 - O < MT$_$6V$TEAOh*EOh* a6D_,@TR$TE6U_;;V $ER<I;@+VTE5T'6`W<<$GCgZ (Class Action) 6*S;;hS b;2T;R$EEC$TE7Oh*CEWR<<=Oh*$;S 'ITC_LDgW*96gWW C`W;I9T*$TE=1<V7S9V6gWW CW :EECTB<VTG a6DBTDb7$h0MCTDc9D$EEC$TE 7hO*$TE=1V<S7VM;hT9gW6hID'ITCERCS6ERIS* .*gXMCTD8*X $EEC$TE`GR><h[EMVTE+R7Oh* = 1V <S 7V M ;h T 9gW b ; 2 T ; R 9gW >h[ CW ' I T C E O < ' O < LC'IE+R9UTM;hT9gWb;$TE6U_;V;$V+$TE%O* 7;_O* `GR=1<V7SMV;Th96gWIhD'ITC.OgYL7SDk L+ZE7V MCTD8*X $EEC$TE`GR><h[EMVTE7Oh* =1V<S7VM;hT9gW_@gYO>G=ERaD-;k%O*<EVKS9_=f; LU'Â&#x2030;S =ERM;Xg*I T$EEC$TE`GR><h[EMVTEC'WITC E<S>6VODTg*cC+gTU$6S LUTME<S$TE$ER9T`GR U $TE76SL;Vb+%O*7; --------------------------------------------On 31 July 2017, Thai IOD together with Hunton & Williams (Thailand) co-hosted the IOD Breakfast Briefing 2/2017 on the topic of â&#x20AC;&#x153;Cybersecurity: Risks, Liabilities, and Best Practicesâ&#x20AC;?. The event aimed at enabling the directors to realize the impact of cybersecurity, risk prevention, directorsâ&#x20AC;&#x2122; responsibilities and guidelines for coping with it. Mr.Manuel E. Maisog, Partner of Hunton & Williams-Beijing Office and Ms.Manida Zinmerman, Partner of Hunton & Williams (Thailand) Limited were the distinguished speakers for the briefing. Today we regularly hear the word â&#x20AC;&#x2DC;Cybersecurityâ&#x20AC;&#x2122; as news on cyber theft and intelligence data hacking have been reported from all over the world. Recently in particular, computer systems in over 150 countries have been attacked by ransomware. In a nutshell, the hacker perpetually blocks access to corporate files or data. Ransom must be paid to retrieve the data. Words among thieves are not in stone though. The files may not be unlocked even after the money is paid. Even though the amount per

company is not much, the total payment is fairly high and thatâ&#x20AC;&#x2122;s why hacking attempts increase. As many as 200 companies are under threat of cyber theft. Surprisingly, up to 40% of the affected companies chose to ignore the hackers without realizing the possible damage. How should these companies cope with it if the data is successfully hacked? Most of the mistakes happen from two major causes; corporate heedless and inefficient protection system and the employeeâ&#x20AC;&#x2122;s ignorance of data storage, leading to either information hacking or the employee theft. When data leakage already happens, what should we, as directors, do? Mr. Manuel listed 11 steps to deal with cyber problems as follows: 1. Event - when the unexpected event already happened, assess importance or confidentiality of the information and who is responsible for leaking the data. Monitoring must be done from top to bottom. Having the operating employees participate to identify the cause in order to seek a precise solution. The ideal protection is that the company must constantly evaluate which data is crucial and what level of importance each data is. Then allocate data access rights and the stringency of the access control sytem. 2. Mobilize â&#x20AC;&#x201C; After assessment, employees should be mobilized from different units, e.g. executive management, IT, law, public relations, to help plan measures in various perspectives. In this stage, the company may invite external personnel to help audit and give advice in different aspects. Responsible person must be clearly assigned. The mobilized team should have an authorized person to make decisions and give orders and also technical specialists. Above all, there must be human resources that are suitable for the job.

3. Legal Posture - Determine legal posture, evaluate damage tendency and consequent risks, and set the practice directions. 4. Law Enforcement - When the plan is made, consider whether a report should be made to police or law enforcement regulator. 5. Stabilize - Stop the leak or limit the already happened and also the potential damage. 6. Investigate - Investigate to seek the true cause of event, work with officials from different units to search for information and the criminal. 7. Legal Analysis - Have the law personnel analyze the damage and the origin of mistake. Be prompt and continual. 8. Notify - True facts must be reported or informed to all the stakeholders with the guidelines to prevent and protect. The information must include the process of work and investigation. The important thing is to consider about the area of data leak; where it happens. Laws and regulations in the European Union countries and the Philippines, for example, require leak report within 72 hours. In practice, 72 hours can be too limited to gather enough information for report. In the report, the company must be ready at all means and discuss with different units in order for safety and potential risk reduction. Especially the information on date, time, place, solution and practice process must be straightforward and not changeable as information changes might lead to stakeholdersâ&#x20AC;&#x2122; distrust. 9. Regulatory Response - Besides the internal measures, the company must coordinate with other related agencies to inform the event and to continue an efficient performance. B o a r d r o o m | 13

Mr. Banchong Chittchang, Ms. Manida Zinmerman, Dr. Bandid Nijathaworn, Mr. Manuel E.Maisog, Ms. Patareeya Benjapolchai, Mr. Chusak Direkwattanachai

10. Lawsuits - Learn with whom or which group can a lawsuit be mad, since there have been an increase in a class action lawsuit. 11. Review & Improve - When crisis already happens, do not waste time. Collect and make notes on how decisions were made, why they were made that way, what steps of action had been taken and how we dealt with different stakeholders. This can be useful in making a report to the board of directors in, for example, the following lawsuit. Moreover, when such event already happens, take the loopholes that we experienced as a tool to improve the system and create a better protection in the future. Improvement can be made in aspects such as the more modern system, employee training and behaviour monitoring. In the last part of the briefing, Mr. Manuel gave simple guidelines for Cybersecurity 14 | B o a r d r o o m

which are: therefore, must have a good risk protection, practice guidelines and governance. Thai law requires the directors to perform their duties with carefulness. In other words, the directors and executives must perform as those who are cautious enough to run a business and their duties with honesty. They must perform mainly for the corporate benefits. Thus, they are limitlessly Meanwhile Ms. Manida took on the topic responsible for their actions and of the current law and regulations in use decisions. and the draft version. The Computer Crime ACT B.E. 2550, Section 420 of 3L"DLADL=-NO the Civil and Commercial Code and the W=Ä G" "W O<=/N Corporate Governance Code for Listed Ms. Sarinee Companies 2017 includes details about Ruangkongkiat hackers and ransomware. Assistant Manager

1. 2. 3. 4.

Constant assess possible threats Identify important data Regularly update cyber news Allocate the substantial budget for protection 5. Set standard in making reports 6. Never trust the existent measures, regularly review and update them

Thai IOD

The damage caused by cyber threats will pose a long-term impact on companies and the directors will become the responsible person in case of a lawsuit, especially in the class action. Directors,

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that they are good at it. Mr. Apiwut Pimolgsaengsuriya, Founding Partner of Slingshot Group Co., Ltd. was recently invited to speak on this topic during the Chartered Director & Fellow Member Event 1/2017. A group of IOD chartered directors and fellow members attended the event supported by CH.Karnchang Public Company Limited and learned about the importance of storytelling, its relation to profession and how to be a skilled storyteller. After cocktail party, Mr. Apiwut talked about the history of storytelling. Human started telling a story through drawing and alphabets 30,000 years and 5,000 years ago respectively. â&#x20AC;&#x153;Fairytaleâ&#x20AC;? is the first form of storytelling and remains a good oral narrative until nowadays. Prof. Robin Dunbar, an expert on organizational psychology at the University of Oxford, found 65% of socializing time involved with gossiping. Gossiping capacity is regarded in the same category as storytelling. However, storytelling needs a little bit of a twist. Interestingly, if you are good at gossiping then you can be a good storyteller too.

B o a r d r o o m | 17

others. Three main sources are your stories, other people’s story and other sources of stories such as newspapers, news, dramas, LINE, articles etc. If we know the source, then we can tell stories to others. We should not take a credit from a story that is not ours and that the source should be clearly explained. However, storytellers should practice verbally. The thing a story that we find interesting and fun may not be for others if we are not good at telling. In summary, a good storyteller must seek-adapt-tellcollect stories and select the best ones for telling others. According to a tip given by ancient Greek philosopher Aristotle, good storytelling usually comprises the following four components and ratios: suffering (30), struggling (30), turning (20), and over coming (20). These components have been regarded as the principle for screenplay writing from Thai classic drama Baan Sai Thong (The Golden Sand House) to fairytale classic Snow White. Article writing is also based on this principle.

Telling a story with a goal Initially, we need to know the purpose of storytelling categorized into the following four objectives: 1. To rapidly “connect” a relationship with listeners, to make them feel impressed with the storyteller himself/herself. 2. To clarify some abstract details, or differences between speaker and listener for example executives talking about their visions to employees. It is possible that employees may not understand abstract details about vision. Therefore storytelling technique can help explain things for employees to better understand abstract details.

listeners and convince them to think in the same way as the speaker. 4. To talk about success stories on different objectives and methods, depending on speakers.

Mr. Apiwut said anyone would like to be good at storytelling must see a picture of the thing he/she would like to tell first. Here are five simple steps to make you successful at storytelling.

Tell a story in a memorable way 1. Slowly tell a story so that listeners will get a picture 2. Clearly explain a story so that listeners can collect all details and see the picture. 3. No drama required. Be yourself. 4. Pause for question and answer. Silence creates excitement among listeners. When the story is almost at the climax, pause a bit. 5. Keep a twist at the end.

Telling a story is not only for fun, but for creating a good memory, and working facilitation for example initial public offering, loan approval, forming a team etc. Storytelling can create a good memory because our brains will remember stories in a form of picture, not bullet point. In addition, storytelling creates clarity and awareness. Studies found storytelling leads to a release of Oxytocin, leading to empathy. Marketing people usually adopt this theory to create In addition, feedback from listeners will commercials that create branding let you know if you are good at telling story. If a question like so what? or what memorability. for? comes up, it means more practice However, if you would like to be a story- is needed. If listeners ask what’s next? teller, you need a story to tell first. Here then you are on the right track. Small tips and techniques can transform you to are “TIPS” for finding a story to tell. become a professional storyteller, sooner T: Time – incident timing must be or later. identified. I: Incident - incident must be 3L"DLADL=N O W=āG" "W <O=/N specific. Ms. Sarinee P: People - there must be actor in a Ruangkongkiat story. S: Surprise – there must be a twist in Assistant Manager Thai IOD a story.

3. To influence others. As theory says we may not be able to convince listeners to believe or understand our emotions based on fact. On the other hand, it may even create more conflict. Telling When compared to gossiping, storytelling such story needs capacity to manage comprises all these components. Keep opposition or disagreement among any story that contains TIPS for telling 18 | B o a r d r o o m

Tell a story well

Event Supported by

9 B o a r d r o o m | 19

Board Development

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growth is high. Economic activities in these markets expand rapidly when compared to developed nations. These factors drive the emerging markets to continuously expand. Index rating companies i.e. FTSE, S&P and MSCI Barra categorizes emerging markets based on per capita and investment structure. From the investor perspective, however, emerging markets are categorized into four regions. Emerging Latin America includes Argentina, Brazil, Chile, Mexico, and Venezuela. Emerging Eastern Europe comprises Czech Republic, Hungary, Poland Russia, and etc. Emerging Middle East, and Africa includes South Africa, Egypt, Nigeria, Libya. And Emerging Asia includes China, India, South Korea, and Thailand. These emerging markets have attracted investors for several years. The trend will continue because index prices in emerging markets are lower than those in developing countries. International Monetary Fund (IMF) reported average growth among countries in emerging markets increased from 3.8% in 2016 to 4% in 2017, compared to markets in developing countries at 1%. Of the total, Emerging Asia shares the majority growth rate. High interest rate is the major factor that continuously attracts more investment into Asian stock markets. It is estimated that GDP among emerging markets will be two times higher than developed markets by 2021. 22 | B o a r d r o o m

Six major industries that the investors will focus on are agriculture, health services and education, manufacturing, retailing and consumer products, logistics and telecommunication, and financial services. Such trend is considered positive for emerging markets. However, investors still consider risk at some level.

among Thai companies increased from 50% in 2001to 78% in 2016.

Thailand is among emerging market countries driving forward CG-related policies and mechanism in both governmental and private sectors with an aim to promote corporate growth and sustainability. Capital market is assessed by international organizations and that can boost CG development and implementation. Among the examples are World Bank Report on the Observance of Standards and Codes: Corporate Governance (CG-Rosc), CG Watch project by Asian Corporate Governance Association in cooperation CLSA AsiaPacific Markets.

Turning challenges into opportunity requires solid internal administration and resilience to change that may happen at all times. Directors will help steer the company to business challenges and risks while creating long-term sustainability amid unpredictable economy, society and environment that may happen at all times.

Changes in rules and regulations related to CG have been carried out in order to raise the Thai corporate standard to the international level. Consistent action among CG watchdog agencies will enable Thai capital market to be equipped Generally, instability of emerging markets with credibility and qualification to lead is more than markets in developing the pack. countries mainly due to deflation. The global economic impact on foreign Apart from CG, the directors also play investment, for example increased tax a crucial role in representing investors rate by the Federal Reserve and economy and leading the companies. Knowledge deflation in China. This is why corporate about CG is considered compulsory governance can help boost confidence for directors overseeing benefits of the among investors, reduce risk caused company and stakeholders. Corporate by economic deflation while supporting growth and sustainability are important sustainable expansion of emerging among investors as these factors will markets and eventually global economy. have an impact on economy expansion and stability. Corporate Governance (CG) is well aware among foreign investors. It is one However, business environment is the major factors for investment decision unavoidably more complicated due to making. Lacking CG could pose risk to changing global economic atmosphere, investment. Investors, as stakeholders, political instability and digital, and can also help develop CG. Having only technology transformation. These factors policy and guidance is not sufficient. can be considered as opportunities and challenges. Implementation is the key

In addition, Thai capital market is also assessed by the Institute of Directors through the CGR project. A study shows a positive outlook as corporate governance

3L"DLAA=/K33K1c =%K;DR N81K2c Ms. Waratnarn Ratchamusikpat Senior CG Analyst Curriculum Development, Thai IOD

Board Development

X3AY3;` ==; L=GDN=J 4K =G4 L= M 4K.XS? #N L=1._OO The trend of independent directors with the framework of corporate governance

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2014

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Graph 2 Number of companies in which the chairman of the board is an independent director

2014

24 | B o a r d r o o m

2015

2016

Graph 3 Number of the companies that separate the positions of chairman and CEO

2014

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2016 The transparency of the board of directors can often be partly attributed to having â&#x20AC;&#x153;independent directorsâ&#x20AC;? who work efficiently. The important role of the independent directors is to ask questions without bias and give opinions during board meetings with the intention to protect the interests of stakeholders and prevent them from being affected by adverse impacts. As a consequence, corporate governance in Thailand and at the international level determines the codes concerning independent directors, especially with regard to two issues, which are discussed below:

1. The proportion of independent directors on a board A recent a study on corporate governance was conducted in three countries that recently improved their corporate governance codes, namely the United Kingdom, Malaysia, and Thailand. The results pertaining to the proportion of independent directors on the board is shown in table 1.

B o a r d r o o m | 25

Table 1 Comparison between the codes of corporate governance concerning the proportion of independent directors in the board

UK Corporate Governance Code (2016)

Thailand Corporate Malaysian Code on Corporate Governance Code for Listed Governance (2017) Company (2017)

Except for smaller companies nies, at least half the board, excluding the chairman, should comprise nonexecutive directors determined by the board to be independent. A smaller company should have at least two independent non-executive directors.

At least half of the Board The board should be comprises independent comprises of a number directors. of qualified independent directors in accordance with For Large Companies, the regulation set by Securities board comprises a majority and Exchange Commission independent directors. SEC) and the Stock Exchange of Thailand. The independent directors should work effectively with other directors in the board. (According to the SEC, one third of the board of listed companies should be comprised of independent directors. The number of independent directors must be more than three.)

According to the above information, at the international level, it is important that half the members of a board are independent directors. When taking into account the assessment criteria of Corporate Governance Report of Thai Listed Companies and the ASEAN CG Scorecard, the presence of independent directors is stressed to an even greater degree, namely the proportion of independent directors on the board should exceed 50 percent. A current trend is that the independent directors are expected to play more roles. In Thailand, although at least one third of the members of a board must be independent directors, each board must be comprised of at least three independent directors. The number might be lower than what is set in the code of corporate governance at the international level.

26 | B o a r d r o o m

However, in the last three years, the results from CGR indicate that listed companies in Thailand are stressing independence of the directors by adjusting the proportion of independent directors within the board. Graph 1 shows the increase of listed companies that have boards in which the proportion of independent directors exceeds 50 percent. Although this is not a high increase, it indicates an interesting trend.

2. The independence of the Chairman of the Board Differences on the issue of Independence of the chairman of the board is viewed in accordance with the code of corporate governance in Thailand and at the international level is summarized in table 2,

Based on the above information, at the international level, the chairman and CEO should not be the same individual. For Thailand, there is an additional code that the chairman should be an independent director. The assessment criteria from CGR and ASEAN CG Scorecard also consider the issue of the chairman being an independent director and the chairman and CEO are the same individual. The results of CGR in the last 3 years indicate that the number of chairmen that were independent directors and the number of the companies that separated the position of chairman and CEO are both trending higher, especially the issue of chairman being an independent director. The graph shows that the number of listed companies in which the chairman was an independent director in 2016 increased by 5 percent from 2015. Another interesting issue is to provide a â&#x20AC;&#x153;lead independent directorâ&#x20AC;?. Taking into account table 2, the codes of corporate governance of the three countries call for a provision of a lead independent director in cases in which the chairman is not an independent director. This will help balance the board and management and reduce conflict in communication between the board and shareholders. Notably, appointing a lead independent director in cases in which the chairman is not an independent director is also included in the assessment criteria of 2017 ASEAN CG Scorecard form. Although the trend of emphasizing the independence on the board in terms of the proportion of independent directors and independence of chairman is positive, Thai-listed companies need be made more aware of the importance of this issue. This remains a challenge, especially with regard to nominating independent directors. IOD could support this trend by providing listed companies with a list of professional directors in the IOD chartered directors, including Director Pool.

Table 2 Comparison of codes of corporate governance concerning the independence of chairman of the board

Directors who want to be placedon the list Thailand Corporate Malaysian Code on Corporate Governance Code for Listed should contact the Member Relationship Governance (2017) Department of IOD for more information. Company (2017) The roles of chairman and The positions of Chairman A chairman should be an chief executive should not and CEO are held by independent director. In conclusion, the boards of Thai A chairman and chief executive companies are favoring more and be exercised by the same different individuals. should have different duties. individual. more the independence of the board. Where the board appoints a The board should clearly define The trend for a greater proportion of duties of the chairman and The board should appoint Senior Independent Director the independent directors serving on the chief executive. one of the independent non- (SID), the role of the SID executive directors to be the should also be explained in To prevent an individual from board or having a chairman, who is an independent director, is positive. The senior independent director the board charter. attaining limitless power, the presence of independent directors on to provide a sounding position of chairman and chief board for the chairman and This may include the SID executive should be held by the board is more effective in practice if they work truly independently. The different individuals. to serve as an intermediary Acting as– independent director should dare to for the other directors • a sounding board for the In cases in which the position ask questions or make some notices when necessary. The senior Chairman; independent director should • an intermediary for other of chairman and chief executive when they have some doubts and not be be available to shareholders directors when necessary; is not separated clearly, such biased when considering important as the chairman and chief if they have concerns which and are the same person, a issues by taking into account the interest contact through the normal • the point of contact for executive chairman is not an independent of all stakeholders. Thus, the challenge channels of chairman, chief shareholders and other director, a chairman and chief of independent director is to work executive or other executive stakeholders. executive are from the same independently. directors has failed to family or a chairman is a resolve or for which such member in the management or a team or appointed to be contact is inappropriate. UK Corporate Governance Code (2016)

responsible administration

for

the

The board should promote balance of power between the board and management by (1) ensuring that more that half of the board members are independent directors; or (2) appointing an independent directors to consider the agenda for board meeting.

3L"DLAG= L=/c #"P2=O8L3%N Ms. Aurakarn Jungthirapanich Senior CG Analyst Thai IOD

B o a r d r o o m | 27

Chartered Director Corner

Interview with IOD Charter Director

Dr. ROJANASAK CHOMVILAILUK

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AL;1 L1L<X?J L=8K,3LZ3 L=1M E3L`1_O ---------------------------------------------

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IOD has welcomed itâ&#x20AC;&#x2122;s the fiftieth director to the IOD Charter Director. Dr. Rojanasak Chomvilailuk has more than 10 years of experience as a director and is currently an independent director and chairman of the Audit Committee and Risk Management Committee of SIS Distribution (Thailand) Public Company Limited. He has kindly agreed to share his opinions about the director nomination, the role and duty of directors and how directors can improve themselves to work more efficiently.

;O$+T$;hW :EZ$+VMEOYO7ZLTM$EEC%O* <EVKS9+69R_<WD;7 O*_>-VÂ&#x2030;$S<'ITC9 T9TD %O*9*hS_JEK2$+V9cgWC`g;;gO; `GRCBWDS'$Z'TC EO<6Th; OT9V LBT@aG$TBIV7S;k .*gX9UbM_h$6V 9hS*$TE`%g*%S;9gWEZ;`E*`GRaO$TL9T*:ZE$V+ EICc=8X*$TEG*9Z;b;7GT67 T*=ER_9J`GR 9IgSaG$ %5R_6DWI$;S <9<T9LU'Â&#x2030;S%O*$EEC$TE 'OY $TE9UTM;Th9$gWTU$<S6`[G6IhD'ITCbLbg+ 9CgZ_9 .OgYL7SDk =1<V7S7VTC$0MCTD 6IhD Reason to join IOD Charter Director 'ITCa=E *bL`GR_= 6_>D% OC[GOD T*8[$7 O* X3A N . Z3 L=D==EL ==; L= G" _MCTRLC`GR_@DW*@O Being an independent director and G" c= professional director tests oneâ&#x20AC;&#x2122;s %Oh_9+f+E*V_-*V=ER+$SKk 5 =+S+<Z;S 6*S;;hS $EEC$TE<EKV9S7Oh*@4S;T7IS_O* competency in supervising a company <EKVS9+69R_<DW;C$S+R_-Â&#x2030;V<'Z'G .*gX_=;f9gW ODTg*7Og_;OgY* 9;S7Og_M7$ZTE5k `GR6IhD operation to achieve its objectives E+h[$SMEOY';hZ_'D$;S _=;f9_gW%Thb+c6IhTg <EKV9S LUT;$Xb;<9<T9M;Th9$gWU$<S6`[G $GTgI'OY effectively. Thus, directors should cCg=ERL*'k+R7hO*CT_LgWD*$S<$TE9U*T;$S< $EEC$TE<EVKS9a6D_,@TRODgT*DgV*$EEC$TE be good at formulating strategies, an operation and enhancing an <'Z'G9cgWCEg+h[$SMEOY';hZ_'D$;S OV L E R 7h O * CW ' I T C @ Eh O C b ; $ T E 9gZ C _ 9 b Lg b + running organizationâ&#x20AC;&#x2122;s performance, as well `GR9U'ITC_% Tb+$S<:ZE$V+%O*<EVKS9OD T* as willing to comply with rules and G$X.*hX EIC9*hS7Oh*_%Thb+_$DgWI$<SLBT@`I6GOhC regulation and being ethical.

30 | B o a r d r o o m

In his role as a director, Dr. Rojanasak is inspired to give recommendation and help to supervise companies, especially to work pro-actively. Moreover, he thinks that the role of directors, especially independent directors, should be to support the companyâ&#x20AC;&#x2122;s operation with the aim to add value for stakeholders and shareholders equally under ethical governance.

Experience and expertise Dr. Rojanasak has expertise in strategic management and marketing, including branding. When, he studied for his Masterâ&#x20AC;&#x2122;s Degree, he was interested in capital markets, financial management and using financial instruments to assess and supervise marketing operations to achieve the goal. Thus, an independent director, audit director and non-executive director, he applies his knowledge and experience to support his duty as a director by getting involved in reviewing strategy and the strategic approach of the company and using financial instruments to assess, monitor and supervise the company operation. Dr. Rojanasak also has a lot of experience as a director. He has served on many boards and held the positon as chairman of the audit committee, a director of the in risk management committee and chairman of the nomination and remuneration committee. This has given him valuable experience in supervising and supporting a companyâ&#x20AC;&#x2122;s operations through such activities as developing a risk management plan and process for a company, planning and pushing the audit department to be more effective and creating value for the company, including developing and managing an assessment system for the performance of executive directors in order to allocate the compensation properly and fairly, and, in particular, finding a successor for a listed company.

Duty of a company director and an objectives effectively, the company directors and independent directors must independent director A company director, especially an independent director, as the name indicates, should work independently, express his or her opinions and give recommendations, including pointing out the important issues which the executive director and stakeholders should focus on. As the directors have a role and duty to work towards achieving the companyâ&#x20AC;&#x2122;s

be knowledgeable and have years of experience. A board should be comprised of directors with diverse knowledge and experience, dedication and are independent, honest and consider the interest of the stakeholders equally. However, based on real experience, independent directors need to understand their roles to supervise and support the company operation to achieve its goals, thus they have to work B o a r d r o o m | 31

well with the other directors. In addition to knowledge and experience, the directors be familiar with psychology to be able to work effectively other people. Moreover, they have to manage relationships with other directors based on their role and duty as an independent director.

especially as the digital economy moves to the forefront, is a formidable challenge. Moreover, listed companies haves to cope with the challenges of an unstable economy and threats from all directions, such as globalization, which has created opportunities, but has also made competition fiercer. At the same time, the important role of the directors is to supervise company operations with The concept of direction nomination care, determination and honesty and ensure the company complies with of an organization relevant laws, is transparent and makes Based on empirical evidence, listed appropriate and accurate information companies often invite familiar contacts disclosure. to serve as directors because it is understandable that they do not want to As a consequence, company directors work with people that they donâ&#x20AC;&#x2122;t know. have to continue to improve themselves. Company directors, especially, independent Notably, as the business environment directors must be willing to dedicate has changed rapidly and dramatically, themselves to understanding the business listed companies that operate in a fiercely deeply. Furthermore, they have to competitive business environment need understand the changing business to focus on the nomination of directors, environment, stay on top of the important and relevant legal and accounting especially independent directors. standards that might affect the company. Taking into account the competence They also have to get involved in and experience of person who is assessing the acceptable risks that appointed to serve as director is might get in the way making the important. However it is not necessary companyâ&#x20AC;&#x2122;s operations sustainable. that his or her qualifications exactly match the business or environment because, In addition, company directors still need in many cases, a person that lacks to get involved in activities, such as experience relating to the business will social parties, which might not support have a different perspective, which can the company operation. Thus, the be an advantage in supporting the directors need to offer suggestions and recommendations for the company success of company operation. that takes into account the different stakeholders. They also have to ensure The challenge and development of that the company operations are attuned to the interest of all the stakeholders, as duties this is necessary for it to remain effective Serving as a director in a business and sustainable. environment that is rapidly changing,

32 | B o a r d r o o m

3L"DLAB=Ăż=K/3 WG;;K. Ms. Srirat Emmad Assistant Manager Member Realtions Thai IOD

3L"DLAD1R23O W .N%A_< Ms. Suthinee Kerdchuay Senior Officer Member Relations Thai IOD

B o a r d r o o m | 33

Anti-Corruption Update

=L<"L3 AL; L`AE3L` =JEAL_"W.GQ3 = (L ;-D"NEL ; 2560 (Progress Report: July-August 2017 ) W2@<@^:4(3M.JM (Collective Action Coalition) F!9K VF $2Z0;Y2 K<.F^.K_2 K<0"Q<.M (Thai Private Sector Collective Action Coalition Against Corruption: CAC)

BTER$+V%O*a'E*$TE CAC 9cgW66hU_;;V$TE b;-Ig*_6OY; $E$0T'C`GRL*VMT'C;hW c6`h$g 6 T;$TE%DTD`;IE IC=1V<S7V`GR$TEES<EO* <EKV9S_=;fLCT-$Va'E*$TE CAC b;EO<_6OY; 9>gWTg;CT8*X$TUM;6'E<ERDR_I;hIEE' 6 _6OY; %O*<EVKS99gW_'D=ER$TJ_+7;TEC5k`7gcCg c6hDgY;`<<=ER_CV;7;_O*_@gYO%OES<EO*_=f; LCT-V$a'E*$TE CAC BTDb;ERDR_IGT 18 _6OY; .*gXC+WU;I; 233 <EKV9S;;hSa6Db;+U;I; ;ChWW 14 <EKV9S9$gWG<S_%ThCT=ER$TJ_+7;TEC5k _%ThEIgCa'E*$TEO$W'E*hS LIg;LT_M7MZG$S9gW 9UTbM MGTD<EVKS9cC c6 $GS<CTE ICa'E*$TE @<ITg <T*<EKV9S_G$V$+V$TEMEOY'I<EIC$+V$TE CW $ T E _ = GgW D ; ` = G * 7S I $ E E C $ T E ` G R M EY O ><h[EMVTE-6ZbMCg `GR<T*<EKV9SD*S_%Thb+ITg`'g CTG*;TC_,De $CfW =S++Z<S;CW<EVKS99gW_'DG*;TC=ER$TJ _+7;TEC5 _ % T E I C7 O 7 T ;'OE ES = -S ; $S < a'E*$TE CAC `G I+U;I; 844 <EVK S9 a6Db;+U ; I ; ;hW _ =f ; < EV KS 9 + 6 9 R _ <W D ; b ; 7GT6MG$S9E@SDk 402 <EKV9S `GRC<WEKV9S>Tg; $TEE<SEO*b;EO<c7ECTL 2/2560 _@CgVO$W 41 <EKV9S (_=;f<EKV9S97gWOgOTDEZ<SEO*O$W 7 <EKV9S) EIC`G ICW<EVKS9> T;$TEES<EO*_= ;LCT-V$ CAC +UT;I; 273 <EKV9S b;6 T ;$TE9U*T;E I C$S < _'EY O % T D O*'$kEERMITg*=ER_9J;;hS CIPE MEOY Centre

34 | B o a r d r o o m

for International Private Enterprise .*gX_=;f O*'$kE+T$=ER_9JLME2SO_CE$VT `GR_=;f O * 'k $ E 9gW b Mh $ T E L ;S < L ;Z ; +S 6 7hS * a ' E * $ T E CAC CW `;I'V69Wg+R;U_L;O>G*T;%O* a'E*$TE CAC c=%DTD>Gb;7Tg*=ER_9JO;gYe 9CgW=WÂ&#x2030;SMT$TE'OEEk=S-;SCT$ _-;g O;Va6;_W.DW ELS_.DW <ET.GV @CTg `GR+R;UT>G*T;`GR =ERL<$TE5%kO*a'E*$TE CAC c=8TgD9O6 O*''kITCEh[ a6DCW Prof.Dr. David Cutler `M * Stanford Leadership Academy CMTI9VDTGDS L`7;AOE 6 _= ; >[ J X $ KT_@Y g O 8 T D9O6 =ERL<$TE5 %O* CAC `GR_%WD;_= ;$E5W J$XKT (case _study) LUTME<Sb-=hER$O<$TE J$XKTER6<S=EÂ&#x2030;VÂ&#x2030;Ta9%O*CMTI9VDTGDS ;O$+T$;Wh`G I a'E*$TE CAC $UTGS* @S 4 ; T a ' E * $ T E Dg O D _ @gY O _ L EV C L Eh T * L B T @ `I6G OCb;$TE7 O7 T;'OE ES=-S;`GR$TE 76VL;V<;O$WLTCa'E*$TE .*gX+R-IgD%DTD>G `GRLE T *=ERaD-; b M ` $ < EV KS 9 `GR =ER-T-;9gSIc=LTCTE8_%hTCTCWLgI;EgICc6h CT$%;hX a'E*$TE`E$ 'OY $TE%DTDa'E*$TE CAC c=L[ :ZE$V+%;T6$GT*`GR%;T6D OC MEYO SME a6DCW_$53 `GRIV:W$TELO<9T; 9_gWMCTRLC$<SLBT@:EZ$+V%O* SME a'E*$TE LO*'OY$TEb-@hG*S%O*<EKV9S9_gW%ThEIgCa'E*$TE CAC =ER_C;V'ITC@*X@Ob+b;$TEbM<hE$VTE %O*M;IgD*T;E2S7Tg*e 7TCCT7E2T;$TEbM < EV $ T E 9gW $U M;6b;@.E.<.OU;ID'ITC

LR6I$Q EIC8*X=ER_6;f_EOgY*$TE8$[_EDW$E<S L;V<;a6D_+ThM;Th9EgW2SITgC_W$6V%;hXMEOYcCg .*gX 9hS*<EVKS9`GR=ER-T-;$fLTCTE8b-h-gO*9T* EhO*_EWD;9gW+S69Ua6D'ITCE ICCYO%O*_O$-; ( .gX * CW M ;g I D * T ; $U $S < 6[ ` G%O*ES 2 bM $ TE L;<SL;;ZOD6g[Th;MG*S) `GRa'E*$TE9LgWTC _=f;$TE+S6LEhT*_$53k=ER_CV;b;ER6S<9gWL[* %hX;LUTMES<<EVKS9c9D9gW7V67gO'hT%TDb;7gT* =ER_9J _@OgYbM<hEKV9SLTCTE8b-=hERaD-;k +T$$TEE<SEO*%O*a'E*$TE CAC c6bh;ER6<S LT$G`GR_=;f9DgWOCE<S 6Th;'ITC_'GOgY;cMIb;BT'E2S 7TC9gW c6 CW$TE=ER$TJb- @ERET-<SÂ&#x2030;Â&#x2030;S7V$TE+S6 .OhY+6S+Th*`GR$TE<EMVTE@LS6BZT'E2S @.J. 2560 `GIh;;hS c6$hUTM;6bM$hEC<Â&#x2030;S-$WGT*b; 2T;R_G%T;Z $ TE'5R$EEC$TE'ITCE I C CY O = O *$S ; $TE9Z + EV 7 6U_;V ; $TE+S 6 9UE T * =ER$TJ_$53kCT7E2T;%hS;7Ug%O*;aD<TD `GR`;I9T*= O*$S;$TE9Z+EV7b;$TE+S6.YhO +6S+Th*9>gW=h[ER$O<7Oh*+6SbMChW 6IhD_M7;ZhW MT$<EVKS99gW+R_%hTCT_=f;'[ 'hT$S<M;gID*T; E2S E2SILVTM$+V O*'$kECMT-; +R7Oh*_7EDWC 'ITC@E OC+S69U;aD<TD7 O7 T;'OE ES=-S; `GR$TEbMLh;V<; EIC9*hSER<<'I<'CZBTDb; 9_gWMCTRLC +*X+R>Tg;_$539kIgWTg;hW 6IhD_M7;ZhW <EVKS9+X*'IE@S4;T<Z'GT$E`GR_LEVCLE T* 'ITCEh['ITC_%hTb+b;$TELEhT*ER<<=hO*$S; $TE76VL;V<;bM@hEOhCGIg*M;Th _@ETR;'gWOY CT7E2T;LUTME<S<EKV9Sb;O;T'7

9 T;LTCTE87V67TC$V+$EEC7 T*e %O*a'E*$TE OT9_V-;g $TE_%ThEIgCLCSC;T MEOY_%hTO<ECMGS$L[7E Anti-Corruption: The Practical Guide (ACPG) .*gX_MCTR LU M ES < _ +h T M ;h T 9gW >h[ ES < >V 6 - O < $ T E +S 6 9U ER<<'I<'ZCBTDb;_@gYO=hO*$S;'OEkES=-S; b;<EKV9S `GR Ethical Leadership Program (ELP) .*gX_MCTRLTUME<S$EEC$TE`GR><h[EMVTE ER6S < c6 _ % T b+IV :W $ TE>GS $ 6S ; ;aD<TD7 O 7hT;'OEkES=-S;c=Lg[$TE<EVMTE+S6$TE'ITC _LDgW*'OEEk=S-;S %OhCG[9*hSMC6LTCTE8_%Thc= 6c[69hgW www.thai-cac.com MEOYLO<8TC$TE LC'SE_%ThO<EC$<S'5ZB9SETBE5k 02-955-1155 7Og 216

of companies certified by CAC to 273. On the international front, the Centre for International Private Enterprise (CIPE), a U.S.-based organization that provided support in the establishment of CAC is planning to expand the project to other countries that suffer from severe corruption, such as Brazil, Indonesia, Russia and Myanmar. Part of the project will involve transferring knowledge and using the experience of CAC. Professor David Cutler from the Stanford Leadership Academy, Stanford University is studying the experiences of CAC to develop a case study for Master degree students at the university.

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Activities of the Thai Private Sector Collective Action Against Corruption during July and August in 2017 were as follows: Regarding the expansion of CAC and company certifications, over a six-month period, 233 companies had declared their intent against corruption but failed to submit the required self-assessment form within the 180-month timeframe. Fourteen of those companies have declared their intent again. The main reasons behind companies failing to move forward with their intent were the following: company mergers; change of directors or board members; and lack of understanding about the CAC submission procedures. Currently, 844 companies have declared their intent against corruption with CAC, of which 402 of them are listed on the stock exchange. In second quarter of 2017, 41 companies were certified (seven companies successfully expanded their certification), raising the total number

CAC is developing three subprojects to enhance the fight against corruption and bribery, which would expand the project and benefit companies. In addition, it is envisioned that these projects will encourage greater involvement of the public. The first subproject involves expanding the reach of CAC to small and medium enterprises (SMEs) with adjusted criteria and assessments tailored for them. The second subproject entails using the power of CAC members to evaluate the quality services of government agencies based on the service criteria described in the Act for Facilitation in Public License 2015, including issues pertaining to bribing government officers. Companies and the general public could use a channel, which was created in collaboration with the private sector (with support from regulators from the public sector). The third subproject is to create a higher assessment criteria for Thai companies that trade internationally, which would be used as a basis for CAC certification at the international level.

With regard to the corruption and the public sector, according to the declaration in the Act for Public Procurement and Article Administration 2017, the Controller General Department on behalf of secretary of the Anti-Corruption Cooperation Committee is to make a draft declaration of least standard of anti-corruption policy and approach in procurement relevant to entrepreneurs. Thus, companies interested in trading with a public agency, state enterprise or public organization have to be prepared to set an anticorruption and bribery policy, which includes an appropriate internal control system to meet the criteria. As a consequence, the companies should develop their personnel and enhance knowledge and understanding in creating an anti-bribery system in advance because it will be the standard for companies in the future. You can participate in CAC activities, such as seminars or the training course on Anti-Corruption: The Practical Guide (ACPG,) which is suitable for officers responsible for making an internal control system for corruption prevention or the Ethical Leadership Program (ELP), which is intended to help directors and executives understand the method applied to integrate anti-corruption policy into corruption risk management. All information is available at www. thai-cac.com or contact Ms. Pattaraporn 02-955-1155 ext. 216 ------------------------------------------------------3L< /NWN.% $3K1"K ?S Mr. Kitidej Chantangkul Project Manager Thai IOD

B o a r d r o o m | 35

Anti-Corruption in Practice

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Corruption has long been a deep-rooted problem to humankind and comes in various forms depending on changes of time, starting from the early primitive society when human began to live as a group, to the digital era that people interact more with smart phones, computers or tablets than with other people around them. Regardless of developed or less developed nations, none can be branded as 100% corruption-free. The level of corruption issues may vary in different countries. According to the assessment by the Organisation for Economic Cooperation and Development (OECD), estimated US$1 trillion were spent as bribe money the world over. Such amount is 11.5 times higher than Thailandâ&#x20AC;&#x2122;s national budget, fiscal year 2018. Understanding the global trend on anticorruption is crucial because it helps business sector prepare for any change. Ultimately preparation will be crucial for companies to remain competitive and resilience to changes than business rivals. Recently, I read â&#x20AC;&#x153;Five forces that will reshape the global landscape of antibribery and anti-corruptionâ&#x20AC;? by Price waterhouseCoopers. The topic focuses on the following five factors that will lead to changes in anti-corruption and antibribery in the next five years.

1 Probe and anti-corruption agencies from different countries will work more closely and systematically in a bid to support each other Several countries have came up with stringent law and regulation to counter corruption which are effective not only among domestic business operation but also partner companies worldwide, for example the U.S. Foreign Corruption Practices Act and the U.K. Bribery Act. Agencies working on anti-corruption from different countries cooperate and work more closely than ever. Rolls-Royce scandal is one of the evident case studies that reflects a close collaboration between anti-graft agencies in Brazil, the U.K. and the U.S. The company ended up paying up to ÂŁ 671million-fine to settle bribery and corruption claims that involve largescale companies in many countries including Thai state enterprise. 2 Social trend is more powerful than law and regulation when it comes to anti-corruption People have social media as a channel and motivation to expose anti-corruption which has become hardly acceptable everywhere. India, where corruption is deep-rooted and has become a standard in the society, successfully turns the tide by launching an anti-corruption campaign through website www.ipaidabribe.com. Information about authorities taking bribery provided by Indian people via this website is sufficient to pressure authorities to improve effectiveness in civil services and solve the issue of bribery money. Public participation is required to make such anti-corruption campaign successful and make a significant change in the society. Similar campaign to www. ipaidabribe.com is also implemented in other countries. 3 Technology will play an important role in reducing risk of corruption Technology plays an important role in all business types. Automation and Artificial Intelligence (AI) have been adopted by several companies as mechanism

to solve business problems and other risks including corruption, thanks to technological development, speed, time convenience and effectiveness in monitoring any violation against law and regulation that could lead to corruption. Global CEO Survey by Pricewaterhouse Coopers found 52% of CEOs in the world are studying positive effect of humantechnology integration. AI will be widely implemented in the future for data processing by using Algorithm to analyze risk on a real-time basis. Any action that can lead to corruption will be detected, leading suitable business management and corruption risk reduction. In fact, major corruption cases for example, law violation, duty negligence, taking or paying bribery money and incorrect, non-transparent accounting can be detected in advance. In the past, these unusual actions required human intelligence. However, the major limitation is lacking capable manpower to monitor information overload. Hence AI, particularly machine learning, will help rapidly and effectively detect any corruption action that may occur.

years. Electronic transaction helps benefit monitoring purpose. If people in the society use e-money instead of cash, corruption risk will be less. 5 Business ethics and transparency will become a new social norm Corporate governance has become a mainstream in the global business trend. Social monitoring by non-governmental organization, press or social media is unavoidable. Such trend will be more intensive in the next five years. We will see increasing number of corporate companies giving priority to this factor and adopting corporate governance as the principle of business model. There is also an increasing trend in business good governance and sustainability. Increasing number of clients also prioritize these factors. However, there are also some corporate companies that have not yet prioritized this issue, but even withstood the trend by covering up information as â&#x20AC;&#x153;confidentialâ&#x20AC;? and disclosing the least details they can by law and regulation. In the future, when business ethics and transparency has become a new social norm, these companies will lose business opportunity. Credibility and success will belong to those knowing the trend and beginning to adjust their business culture to meet such unavoidable challenges and changes. Only these corporate companies will be leading the pack in the near future.

In addition, rapid growth of blockchain technology will enable human to effectively monitor and control any unusual financial transaction with transparency. Machine learning can be adopted to systematically assess risks and enable us to make decision. We will soon see expansion of technology integration into business to Read the full report on https://www.pwc. com/gx/en/services/advisory/forensics/ reduce corruption risk. five-forces-that-will-reshape-the-global4 Paying utility bills will be decreased in landscape-of-anti-bribery-anti-corruption.html non-cash payment society Cash has been drastically faded out and replaced by credit card and e-money. Sweden, for example, reported only 2% of cash expenditure compared to 3L<8CN-R 8=E;#==<L 7.7% in the U.S. and 10% in the E.U. A Mr. Phisanu proportion of cash payment in several Phromchanya countries around the world including Public Relations Thailand drastically decreased. PWC Consultant expects cash transaction will be Thai IOD decreased by 30% in the next five B o a r d r o o m | 39

Legal Update

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Legal Issues in Thailand Raised by

RANSOMWARE ATTACKS Article contributed by

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BT@+T$ http://www.imdb.com/title/tt6788942/

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BT@+T$ http://www.imdb.com/title/tt6788942/

During the last few months, the attacks by ransomware named “WannaCry” and “Petya” have hit computers in tens of thousands of computer systems around the globe, including Thailand. A wide range of industries have been impacted by these attacks, including businesses, hospitals, utilities and government entities around the world. Ransomware leverages certain Windows vulnerabilities, encrypts files on infected systems and demands payment in exchange for the decryption key in order to gain access to those files again. If payment is not made within a specified timeframe, the files encrypted would never be recovered. Ransomware is one of the many types of recent cyberattacks that can have legal implications for affected entities and industries for which data access, integrity and availability are critical; health care and financial companies are particularly vulnerable. 1 2

As affected entities work to understand laws similar to the legislation described and respond to the threat of ransomware, above. Nonetheless, where an injured below is a summary of key legal issues. party has been harmed by the release of personal information by a business or other organization, it can sue for damages Considerations on such legal grounds as wrongful acts Legal Landscape _ In the United States, the Federal Trade or breach of contract or bring a criminal Commission has used its authority under charge. Section 5 of the FTC Act to pursue “unfair or deceptive acts or practices” to address Thailand is pushing for laws to protect data privacy and security issues. The personal data as embodied by the draft deception doctrine has been used to Personal Data Protection Bill, which is pursue companies that misrepresent under consideration by the Cabinet.2 The their use of personal information or the aforementioned draft legislation incorporates security measures used to protect such the Deceptive Doctrine and the Unfairness data, while the unfairness doctrine has Doctrine in the same manner as in the been used to bring actions against FTC Act, such as a prohibition against companies that fail to employ adequate allowing data controllers to collect or use safeguards prior to a security incident personal data without permission from (regardless of the company’s representations). the owner of the data or as permitted by law. There is also a requirement to inform It can be seen that the United States the owner of the data as to the reasons places great importance on protection for collecting the data and to use the of personal data. Thailand does not have data for those reasons as stated.

This article has been derived from an article originally published in Law360 by Hunton & Williams lawyers Lisa J. Sotto, Brittany M. Bacon and Jeffrey R. Duniforn. It has been revised to be in conformity with Thai law by Manida Zinmerman. The draft Personal Data Protection Bill had been presented to the Thai National Legislative Assembly for consideration. Afterwards, the Cabinet rendered a resolution withdrawing the matter back for further consideration and review.

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In addition, the draft law requires data controllers to have appropriate data security measures in place to guard against the unauthorized or unlawful loss, access, usage, modification or disclosure of personal data. In terms of penalty for violations, the draft law specifies civil damages for injured parties, criminal penalties and administrative fines. Breach Notification Laws In the United States and many countries around the world, there are laws that require data controllers to inform owners of personal data in the event of any breach of such data. As of now, Thailand does not specifically have any such laws in place. Data Security Laws As discussed, presently Thailand is considering a draft Data Protection Bill that addresses security measures and rules regarding the storage of personal data, as well as civil and criminal penalties applicable to data controllers. As for criminals who unlawfully breach personal data, the Computer Crimes Act B.E. 2550 (2007), as amended, enforces penalties against those who unlawfully access personal data guarded by security measures, or who modify or affect its integrity in some manner. In practice, however, it is difficult to prosecute offenders outside of Thailand under the aforementioned law. The draft Cyber Security and Safety Bill, which is currently being considered by the Council of State, requires government and private entities that store personal data belonging to the public to abide by the rules and regulations issued by the National Cyber Safety and Security Commission. If a government entity is in violation of any rules or regulations under the draft law, it will face punishment in the form of a disciplinary action. However, private entities would face criminal penalties.

Litigation In the event that ransomware results in a compromise of covered information, litigation is another potential risk. Despite the difficulty of bringing successful lawsuits against affected entities, plaintiffsâ&#x20AC;&#x2122; lawyers continue to actively pursue newsworthy breaches, as businesses are paying significant amounts in settlements with affected individuals. Affected entities also may face lawsuits from their business partners whose data is involved in the attack, and often battle insurers over coverage of costs associated with the attack. Businesses must also be cognizant of cyber-related shareholder derivative lawsuits, which increasingly follow from catastrophic security breaches.

and manage IT-related risks. Furthermore, there is a requirement to put in place policies and security measures about the IT system and storage of data; the rules also incorporate policies and practices on confidentiality, integrity and availability of data.

As for Thai law, since the draft Personal Data Protection Bill has still not been enacted, parties injured by a data breach have the right to file criminal proceedings against those responsible for ransomware attacks on the basis of the Computer Crimes Act. Furthermore, affected parties can file civil proceedings on the basis of wrongful acts or breach of contract. The draft law would also have extraterritorial effect in certain cases, such as where a Thai offender commits the act in a foreign country and the government of the foreign country or the victim files a complaint, or where the offender is not Thai, but the Thai government or a Thai victim files a complaint. In such cases, the offender faces punishment in the Kingdom of Thailand.

Industry standards and best practices may include, among other things: (1) conducting comprehensive information sharing on current threats, attack vectors and the systems within the enterprise; (2) implementing baseline protections such as patching against known vulnerabilities; (3) designing and testing security incident response and recovery efforts; and (4) enhancing communications and collaboration by engaging in more regular and formalized collaboration within the sector.

Industry Standards and Best Practices In addition to complying with explicit legal requirements, organizations should continually evaluate their practices against industry standards, which typically evolve and are updated more frequently than relevant legislation, and which help organizations better align their practices with the expectations of consumers, business partners and regulators.

Conclusion Ransomware is a growing concern, and while the recent global attacks have been some of the most high profile to date, they are part of an overall trend in the evolving threat landscape. Businesses and other organizations should take into account the legal considerations discussed above in their efforts to prevent, investigate and recover from these disruptive attacks.

Good Corporate Governance The Securities and Exchange Commission of Thailand, or SEC, has issued rules regarding good corporate governance, i.e., the Corporate Governance Code or CG Code for listed companies in 2017. The aforementioned code serves as a guideline for boards of directors of listed -----------------------------------------------companies in performing their duties. Regarding information technology security, it requires boards of directors to oversee

B o a r d r o o m | 45

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Board Review

+T$'OGCS;k Cover Story 9_gW%DW;8*X _EOgY* Cybersecurity _ET+*X%O`;R;TUM;*SLOY The Art of Invisibility 9'gWIE'Tg`$$gTEOTg; _ @gY O 9gW + R c 6h =h O * $S ; < EV KS 9 ` G R 7 ; _ O * + T $ _MGTg`P$_$OEOkDgT*9;S9Ig*9W The Art of Invisibility: The World's Most Famous Hacker Teaches You How to Be Safe in the Age of Big Brother and Big Data â&#x20AC;&#x201C; February 14, 2017 by Kevin Mitnick (Author) 1G_"Y? GG3[?3cY.<[;0_ SDJ .=G<

9$Z'E*hS9'gW5Z9Og*aG$OO;cG;k '5Z+R8$[ 76V7TC _$<f%OhCG[ .TUhD*S8$[%aCD%OhCG[LIg;7IS O$W6IhD _@ETR<EKV9SbMÂ&#x2030;eg `GR E2S<TG7Tg*e 7Oh*$TE9ET<`GRMT=ERaD-;+kT$L*gV9'gW5Z9TU 9UTbMh'ITC_=f;LgI;7SI$GTD_=f;LgV*9gW';OgY; _%Th8*Xc6*hTgD M;*SLOY_GCg;hW Kevin Mitnick b-_hM7$ZTE5k +EV*9Wg_'D_$V6%Xh; _@YgO9Wg+R`L6*bM _Mf;I T ORcE+R_$6V%;hX 8ThcCCg'WITCEh[ 'ITC_%Thb+ `GR D*SLO;JTL7E9kCgWO*cC_gM;f 9*hS$GI:VbW;aG$ OO;cG;`kGRb;aG$`M*g'ITC_=;f+E*V _@OgY9gW +R=Oh*$;S7IS'5Z_O*`GR'EO<'EIS a6DLO; 6hIDIV:W9gW_%hTb+c6h*gTDODgT*_=f;%hS;_=f;7O; M;S*LYO_G C;WhDS*LO;9Z$ e OD T*7Sh*`7 $TE =Oh*$;SEMLS `GR $TEb- Wi-Fi ODTg*-TÂ&#x2030;,GT6 +;8X*_9';'V%;hXL*[b;$TE=6V<*S7IS7; Kevin Mitnick E6h[IWTgC-WOg*aMI9gLgWTCTE8 ;UCTb- M T>G=ERaD-; c 6 ` GR7 O *9U ODTg*cE_@OgY=Oh*$;ScCbgM_h$6V%;hX b;2T;R `P$_$OEk9gWa6g*6S*9gWLZ6b;aG$`GR>h[.gX*_'D _=f;`P$_$OEk9gWLMES2O_CEV$T7hO*$TE7SICT$ 9LgW6Z _%T_'D_+TR%OhCG[_%Thc=b;ER<<%O* <T*M;gID*T;`GR<EVKS99gWCWOUT;T+.gX*_%hT8X* c6DhT$CT$%O*=ER_9J `GR_'DEO6+T$$TE +<S$CZ%O* FBI c68h*X 3 = =+S+<Z;S Mitnick c6 _=GgWD;<9<T9`GR_=f;9gWEh[+S$$S;ODgT*$IhT* %IT*b;2T;R>_h[-DgWI-TÂ&#x2030;6Th; Computer Security @G*S9CgWO*cC_gM;f cCcg6_h=;f`'%gO*_MGTg .=Z_=OEPkaWE_g9Tg;;hS `7MgCTD8*X'ITC_=;f LgI;7SI%O*9Z$';9gW_=f;@GS*9gWCW'gT`GR_=f;9gW 7Oh*$TEb;D'Z%O* Big Brother `GR Big Data

From the cybersecurity column on the cover story, we would like to recommend a book called 'The Art of Invisibility'. It could be a great guidance to help you prevent and protect yourself from hackers. The Art of Invisibility: The World's Most Famous Hacker Teaches You How to Be Safe in the Age of Big Brother and Big Data Hardcover â&#x20AC;&#x201C; February 14, 2017 by Kevin Mitnick (Author) Be online without leaving a trace. Your every step online is being tracked and stored, and your identity literally stolen. Big companies and big governments want to know and exploit what you do, and privacy is a luxury few can afford or understand.

invisibility"--online and real-world tactics to protect you and your family, using easy step-by-step instructions. Reading this book, you will learn everything from password protection and smart Wi-Fi usage to advanced techniques designed to maximize your anonymity. Kevin Mitnick knows exactly how vulnerabilities can be exploited and just what to do to prevent that from happening. The world's most famous-and formerly the US government's most wanted--computer hacker, he has hacked into some of the country's most powerful and seemingly impenetrable agencies and companies, and at one point was on a three-year run from the FBI. Now Mitnick is reformed and widely regarded as the expert on the subject of computer security.

In this explosive yet practical book, Kevin Mitnick uses true-life stories to show Invisibility isn't just for superheroes-exactly what is happening without your privacy is a power you deserve and need knowledge, teaching you "the art of in the age of Big Brother and Big Data. B o a r d r o o m | 47

LIg;M;*SLOY A Peacock in the land of Penguins (3 <"S/AKE3"_PZ3.3NX.3 G"3 W83 A3N) _%DW;a6D BJ GALLAGHER,HATELEY, SCHMIDT ;Sh; _=f;M;S*LYO9gW '5ZOBIV4ZV @CVG`L*LEZDVT I9VDT$Eb;*T; Chartered Director & Fellow Member Event b;MSI% O Story Telling _GTg_EOgY*ODTg*>;h[U c6`h;R;UbMOhTg; _@OgY9>gWOh[Tg; c6 _% Tb+`GR6X*JS$DBT@%O*@;S$*T;CTb- c6 OD T*_7fC 'ITCLTCTE8 M;S*LYO_GgC;hWc6hLR9hO;BTIR9gW$GY;cCg_%hT'TDcCg OO$ b;$TE9UT:EZ$+VERMITg*=ER_9J +R9UTODTg*cE8ThCW 'ITCMGT$MGTDb;$TE9U*T;9_gW@CgV%;hX `GR+R9UTODTg*cE b;$TE6*X'ITCLTCTE8 'ITC'6VLETh*LEE'k @G*S `GR 'ITCC*gZC;gS %O*@;$S*T;OO$CTb-h a6Dc6.hOg;=E-SÂ&#x2030;T LUT'Â&#x2030;S_$DgWI$<S$TE9UT*T;cI `GIh;UT_L;Ob;E=[%O*;9VT; L*gV97gWTg*$;SL6Z%IhS+RCT9TU*T;EIgC$;SODTg*C=WERL9V:BVT@ c6MhEOYcCg M;*SLOY%TD6_WGCg;+hWR-IgDbM'hZ5_%Thb+`GR6*X J$SDBT@%O*@;$S*T;CTb-ch6OhDTg*_7Cf'ITCLTCTE8 Another useful book is ' A Peacock in the Land of Penguin' which is recommended by Mr. Apiwut Pimolsaengsuriya, the speaker in Chartered Director & Fellow Member Event in the topic of Story Telling. This book can help you to understand and maximize the potential of your workforce. A Peacock in the Land of Penguins echoes the dilemma facing businesses across the country -- how to manage the increasing diversity of the workforce and how to capture the talent, creativity, energy, and commitment of all employees. Written in a charming, engaging style, the book is a fable about a peacock who struggles to be itself while surrounded by penguins. Can these seemingly opposite birds work productively together? This new, expanded edition of the international bestseller will help managers understand and maximize the potential of their workforce.

48 | B o a r d r o o m

Board Activities

Open House 2/2017

_COgYI;S9gW 23 C8V;ZTD; 9T*L8T<;Sc6+h6S IOD Open House 'E*hS9gW 2 _;OgY*+T$>G7O<E<S96gWCWT$+T$$TE+6S'E*hS9gW M;*gX .*gX*T;'E*hS;_hWMCTRLTUME<S_G%T;$ZTE<EKV9S +6SBTDb7h MIS%Oh "<9<T9_G%T;$ZTE<EKV9Sb;$TEL*g_LECV6Th;$TE$TU$<S 6`[G$+V$TE96gWbWM$h<SO*'$kE"_@OgY_>D`@E`gGRLETh*'ITC_%Thb+ ITg IOD LTCTE8CLWIg;L;<SL;;Z$TE6U_;;V*T;%O*O*'$kE 7Tg*e b;_EOgY*$TE$TU$<S6`[G$+V$TE96gWcW6OhDTg*cE<Th* a6D '5ZIEWIEE5 C;S;TB;V;S9k EO*>-h[IgD$EEC$TE>Oh[T;ID$TE U ?TgDI+VDS`GR;aD<TD IOD `GR 6E.8;OCJ$S6kV LIZEE5;OhD 9=gWE$XKT a'E*$TELUEI+$TE$U$<S6`[G$+V$TE<EKV9S+69R_<DW; _=;f>bh[M%hOhCG[b;_EOgY* CG trend 9_gWG%T;$ZTE<EKV9S 'IE9ET< '5Z$GZ_I- _+;I4S;I9VDk 9=gWE$XKT a'E*$TECAC c 6h ` <g * =S ; = E R L < $ T E 5k $ T E DgY ; % O ES < E O * b ; a ' E * $ T E `;IE IC=1V<S7V%O*BT'_O$-;c9Db;$TE7 O7 T;$TE9Z+EV7 (CAC)

Dr. Thanomsak Suwannoi

Ms. Wirawan Munnapinun

IOD organized its second open house following the positive response to the first open house. This event was fully booked on the first day of registration. The topic for this open house was the role of the company Mr. Kulvech Janvatanavit secretary in encouraging good corporate governance in an organization. Guess speakers were: Mrs. Wirawan Munnapinun, IOD Assistant Vice President, Research & Policy; and Dr. Thanomsak Suwannoi, IOD Corporation Governance of Thai Listed Company Advisor, who discussed the important trends in corporate governance that company secretaries should know be aware of; and Mr. Kulvech Janvatanavit, CAC Principal Project Advisor, who shared his experience in submitting his paper to qualify for the CAC certificate.

IOD Thank you & Welcome Board 2016 & 2017 Party

IOD c6+h6S*T;_G$fe _@OgY_GDhW*%O<'5Z'5R$EEC$TE-6Z_$Tg = 2559 9_gW@*gVMC6ITERc= c6`h$g '5Z_$E$Vc$E +EWR`@9Dk '5Z,7SE-DS IEWR_C:$WGZ `GR J.6E.LEZ@G ;7VcV$E@+;k @EOhC_GDhW*7Oh;E<S'5R$EEC$TEbMCg = 2560 c6`h$g JTL7ET+TED@k_VJK $7V@V*Jk OEZ@@W4S;@*Jk ;TD+ECS@E a-7$V_L8DWE `GR;T*LTI@+;DWk :;IET;-V ODTg*O<O;gZ _COgYI;S9gW 26 C8V;ZTD; 5 aE*`EC `$E;6 cP`O9 _OETI5S $E*Z_9@Q IOD held a small party on 26 June 2017 at Grand Hyatt Erawan, Bangkok to express its gratitude to the outgoing IOD members of the 2016 board. Mr. Krirk-Krai Jirapaet, Mr. Chatchai Virameteekul, and Prof. Dr. Surapon Nitikraipot and welcome the new board members, Professor Kitipong Urapeepatanapong, Mr. Charamporn Jotikasthira and Ms. Potjanee Thanavaranit.

50 | B o a r d r o o m

Family Business Event 2/2017

I;SO*S'TE9gW 27 C8V;ZTD; IOD c6+h6S IOD Family Business Event2/2017 b;MIS%Oh ”<9<T9$EEC$TEOLVER7Og'ITCD*gSD;Y%O* :EZ$+V'EO<'EIS” 5 aE*`EC`$E;6 cP`O9 _OETI5S $E*Z_9@Q _@gYO_=V6aO$TLbMh$EEC$TE`GR>h[<EVMTE%O*:ZE$V+'EO<'ESIc6h @<=R@6['DZ `G$_=GDgW;=ERL<$TE5k `GRE<S9ET<8*X<9<T9 $EEC$TEOLVER7Og'ITCD*gSD;Y%O*:EZ$+V'EO<'EIS a6DCW '5ZLIZBT _+E VD*gV $EEC$TE`GR$EEC$TE<EMVTE <EKV9SMG$S9E@SDk :;-T7 +UT$6S (CMT-;) _=;f><h[EEDTD b;'E*hS;hW On Tuesday 27 June 2017, IOD organized the Family Business Event 2/2017 based on the topic “The Role of Independent Director for Sustainability Family Business”. Held at the Grand Hyatt Erawan, Bangkok, the event provided board and managements teams of family businesses with the opportunity to meet and share experiences. Ms. Suvabha Charoenying, director and executive director of Thanachart Securities Public Company Limited gave a presentation based on the topic of the event.

Mr. Bandid Nijathaworn

Ms. Suvabha Charoenying

Nikkei Asia300 Global Business Forum “Resilient strategies for a shifting world order”

_COgYI;S9gW 14 $E$0T'C9>gWTg;CT IOD c6EhIgC$<S Nikkei +6S*T; Nikkei Asia300 Global Business Forum b;MIS%Oh“Resilient strategies for a shifting world order” 5 aE*`ECO;V_7OE'kO;7_V;;7GS $E*Z_9@Q a6DCW I9VDT$E>9h[E*'5ZI4Z9V*hSc9D`GR7Tg*-T7V OT9V EJ. 6E. LC'6V +T7JZE@W9V$SKk '5Z:EW@*Jk +;SJEVV '5Z@@V:V _O;$;:VV '5Z_$JET C S-JZEW '5Z$G;V9k LTEL;V Mr. Nicolo Galante Mr. Wang Yu QGQ a6DBT@EIC%O*$TE=ER-CZc6h @6[8*X 'ITC9Th9TD%O*aG$b;$TE_@CgV=ERL9V:BVT@%O*$TE+6S$TE aO$TL `GR'ITC9Th9TDb;7GT6$TE_*;VOT_.DW; `GR$TE_%Th8*XG$['Th_O_-DWb;$GCgZ ';-;hS$GT*bMCg

Thai Deputy Prime Minister Somkid Jatusripitak -Photo by Kosaku Mimura

IOD teamed up with Nikkei to organize Nikkei Asia300 Global Business Forum on 17 July 2017 at the InterContinental Hotel, Bangkok. The topic of the forum was resilient strategies for a shifting world order. Speakers at the event included Thais and foreigners, including, among others, H.E. Somkid Jatusripitak, Mr. Thiraphong Chansiri, Mr. Pipit Aneaknithi, Ms. Kesara Manchusree, Mr. Kalin Sarasin, Mr. Nicolo Galante and Mr. Wang Yu. Their lectures focused on three main topics, optimizing management for today’s global challenges, opportunities and challenges facing financial markets in ASEAN, and reaching Asia’s new middle-class consumers.

From right -Yoshihisa Kainuma- Nicolo Galante-Thiraphong Chansiri - Photo by Kosaku Mimura

B o a r d r o o m | 51

Fitch Thailand Seminar Addresses Credit Risks 20 Years after Asian Crisis

6E.<5S37V ;+V8TIE $EEC$TE>Oh[T;ID$TE U IOD c6Eh<S_- V_=;f><h[EEDTDMG$S b;*T; Fitch Ratings (Thailand) Limited's semi-annual investor briefing on Thailand's corporate credit outlook in Bangkok today _COgYI;S9gW 19 $E$0T'C9gW >Tg;CT 5 aE*`EC @GT.Tg `O9:;VW $E*Z_9@ BTDb;*T;@6[8*X BT@EIC%O*_JEK2$+V c9D`GR<9_EDW;9cgW6Eh<S+T$ I$VF7_JEK2$+Vb;O67W .*gX_$DgWI%Oh*$<S$TE$TU$<S6`[G `GR'ITC_LDgW*7Tg*e `GRc6@h6[8*X:;T'TEc9D`GR<EKV9S+69R_<DW;bM g e 9cgW6h =E<S=E*Z$TE$TU$<S6`[G@;hY2T; `7Dg*SC-WOg*ITg*b;$TE=E<S=E*ZLIg;O;gYe c6Oh$W Dr. Bandid Nijathaworn, President & CEO of IOD, delivered an address at the Fitch Ratings (Thailand) Limited's semi-annual investor briefing on Thailand's corporate credit outlook, which was held in Bangkok on 19 July 19 2017 at Plaza Athenee Hotel. He spoke about the economic outlook in Thailand and the lessons in the governance and risk culture from past crises in the final keynote session. During the talk he noted that "Thai banks and larger listed firms have improved their corporate governance standards, while there is room for improvement in other sectors".

CAC Award

Dr. Panas Simasathien

Mr Tada Tearprasert

52 | B o a r d r o o m

Dr. Bandid Nijathaworn

Mr Kulvech Janvatanavit

_COgYI;S@:Z9gW 28 C8V;ZTD; 2560 IOD b;2T;R_G%T;$ZTEa'E*$TE CAC c6h+S6*T;CO<=ER$TJ;WD<S7E`$g>h[>gT;$ER<I;$TEES<EO*`GR_=f;LCT-V$ `;IEIgC=0<V7S%VO*BT'_O$-;c9Db;$TE7Og7Th;9+ZE7VODTg*LC<E[5k _=;f +UT;I; 47 <EKV9S 5 MOh*`$E;6<kOGEC[ aE*`EC_EO_;L.O*L $E*Z_9@ ET-=ERL*' @EOhC9*hSE<SA*S_LI;Tb; MIS%Oh a6Dc6@h6[8*X E2S<TG+E*V+*S`'cgM;$<S$TE`$=h SMT9+ZE7V'OEEk=S-;S? _O$-; 9UTODTg*cE_COgYa6;_EDW$E<SL;V<;? `GROTI:ZbMCg (new tool) `$=h SMT _-*VER<< _-;g @.E.<.+6S.OhY+6S+Th* a6D '5Z:T6T _7DW=ER_LE2V $EEC$TE $GD9Z:k O*'$kE7Og7Th;'OEEk=S-;S 9T* IOD %O`L6*'ITCD;V6$W<S9$Z<EKV9S `GR%O9Tg;c6hEIgC_=;f Change Agent L;<SL;;Z<EKV9S''g[Th7Tg* e %O* 9Tg;c6_h%ThEIgCa'E*$TEEIgC$;S On June 28, 2017, the IOD, in its capacity as the Secretary of the CAC Project, held a ceremony to present Certificates of CAC Membership and Formal Certification by the CAC to a total of 41 companies and organizations, who have successful passed this anti-corruption practices certification process, at the Grand Ballroom, the Renaissance Bangkok Hotel. At this event, attendees also heard a presentation by Mr. Tada Tearprasert, Director of Strategy, Anti-Corruption Thailand (ACT) on “Things that the Private Sector wants to know …but dares not ask” in which he spoke about how sincere and serious the Government is in solving the problem of corruption, what the Private Sector should do if asked for bribes, and various new tools for use in solving this problem in a systematic manner – such as, Procurement and Purchasing Act. The IOD wishes to congratulate all the recipient companies and organizations, and urges that they joint change agent through asking their respective business partners to also participate in the CAC Project.

Member Corner

M R COORNERR MEMBER MEMBERCO b; Board corner ,<<S;%hWO_ECgV7;h6IhD $TE`L6*'ITCDV;6WbM `$ JVKD _$ T`GRJVKD =+S+<Z;S DCP E;gZ7Tg*e 9cgW6Eh<SET*IGS+T$MGTD `%;*`GRc6Eh<S$TE_GOgY;7TU`M;*g _ECgV6IhD J.6E. c@E-S :-SD@*Kk (DCP 114) =ER:T; $L$VE <.V_V;L - _9'a;aGDW $E=iZ (KBTG) c6EhT*IGS J;[D;kI7S$EEC96gW9WLgW6Z%O*c9D b;$GCgZL8T<;S $TE_*;V b;*T; The Asian Banker Technology Innovation Awards 2017 +S6a6DITELTE 6V _O_-DgW; `<*_$OE 5 @@V:VB5S3OkTED:EEC_O_-DW =ER_9JLV*'a=E n '5Z@4Z@V*Jk =ETLT9 9O*aOL8 (DCP 241) $EEC$TE>Oh[T;ID$TE U bMÂ&#x2030; _%ThE<SET*IGS Drive Award Strategy b; 2T;RO*'k$E9gW%S<_'GgYO;_JEK2$V+`GR:ZE$V+ ER6<S=ER_9J +T$*T; Drive Award 2017 9+gW6S%;hXa6DLCT'C;LV7V_$Tg_OCf<_WO '5R @T5V-DJTL7E`kGR$TE<Â&#x2030;S-W +NZTG*$E5k CMTI9VDTGDS n '5Z_9I;V9Ek I*JIkT;-V (DCP 21) =ER:T;_+ThM;Th9<gWEMVTE`GR$EEC$TE >+h[6S$TEbMÂ&#x2030;g <EKV9S =79. +UT$6S (CMT-;) _% TES<ET*ISG â&#x20AC;&#x153;>[ 9UT'Z5=ERaD-; 6W_6 ;6 T; 9E@SDT$EC;KZDâ&#x20AC;?k +T$ L8T<;S9E@SDT$EC;KZDk CMTIV9DTGSD:EECJTL7E n '5ZC;IBVT +B[<VTG (DCP 164) >-h[IgD$EEC$TE>+h[6S$TE bMÂ&#x2030; LUT;$S$+V$TEO*'$kE>`h[9;<EKV9ScOOTE@k.WW +UT$6S (CMT-;) E<SCO<ET*IGS >=h[ER$O<$TE 9gWCW>G*T;a66_6g;b;6hT;'ITCES<>V6-O< 7OgL*S'C L*gV`I6GOhC `GR$TE@4S;TO*'$kE ODTg*D*gSD;Y b;LT%T Investment in People +T$ Enterprise Asia O*'$kEOLVER6Th;L*g_LECV 'ITCES<>V6-O<`GR'ITCDgS*DY;%O*O*'k$E _O$-;b;BC[BVT'_O_-DW`=.AV'V n '5ZL$ZF7Dk LEZ<8aLB5 (DCP 132) $EEC$TE>+h[6S$TEbMÂ&#x2030;g E<SCO<ET*IGS=ER_B9<'Z'G Asiaâ&#x20AC;&#x2122;s Best CEO (Investor Relations) >;h[TUO*'$kEDO6_DDgWC b;_O_-DW`M*g=W '5ZE-S6TBE5k ET-_9I;V9Ek (DCP 204) EO*$EEC$TE>+h[6S$TEbMÂ&#x2030;g LTD <Â&#x2030;S-`WGR$TE_*;V <EKV9S cOOTE@k.WW +UT$6S (CMT-;) E<SCO<ET*IGS=ER_B9<'Z'GAsiaâ&#x20AC;&#x2122;s Best CFO (Investor Relations) `GR '5Z_$LET GChVCaW-'-DS (DCP 204) >[ - ID$EEC$TE >+h[6S$TEbMÂ&#x2030;g <EKV9S =79.LUTEI+`GR>G7V =aV7E_GDWC +UT$6S (CMT-;) E<SET*IGS Asiaâ&#x20AC;&#x2122;s Best CFO (Investor Relations) , ET*IGS Best Investor Relations Company (Thailand)

`GRET*IGS Asiaâ&#x20AC;&#x2122;s Best Environmental Responsibility b;*T; CO<ET*IGS The 7th Asian Excellence Recognition Awards 2017 5 _%7<EVMTE@V_JKP O*$*`M *LT:TE5ES2 =ER-T-;+;W n b;*T;CO<ET*IGS_$DWE7DVJ Money & Banking Awards CJWKVDk DCP 7<_9ThE<SET*IGS$;SODTg*G;hMGTC _ECgV+T$ '5Z-T7-VTD @DMZ;TI-WDS (DCP 116) E<SET*IGS ;$S$TE_*;V`M*g=W 2559 `GRET*IGS:;T'TE _@OgYG$['ThETDDOgD`M*g=W 2560, '5ZOT97VDk ;;S9I9VDT (DAP 106) $EEC$TE>+h[6S$TEbMÂ&#x2030;g `GR=ER:T;_+ThM;Th9<gWEMVTE :;T'TEc9D @T5-VDk E<SET*IGS:;T'TE`M*g=W 2560, '5Z LC-DS L*[LITg* (DAP 107) $EEC$TE>+h[6S$TE <EKV9S AOE9k LCTE9k _.OEIkLV +UT$S6 (CMT-;) E<SET*IGS<EKV9SDO6_DDgWC`M*g=W 2560 b;7GT6 MG$S9E@SDk _OCf _O cO `GR 7Oh*%O7<COY_=;f @_VJKbM$h<S '5ZLC-DS _GJVL9Z:IV*'k (DCP114) =Dr.Kasem ER:T;_+Wattanachai& ThM;Th9<gWEMVTE <EKV9S `O6IT;. OMr.;VaAChaiwat Ek _.OUtaiwan EIkLV +UT$S6 (CMT-;) E<SET*IGS <EKV9SDO6_DDgWC`M*g=W2560 b;7GT6MG$S9E@SDk `M*g=ER_9Jc9D 2017 `8CD*Sc6Eh<SET*IGS<EMVTE +6S$TEO*'$kEDO6_DDgWC +T$_I9W Drive Award 2017 .Xg*+S6%Xh;a6DLCT'CJVKD _$ T_OfC<W_O '5R@T5-VDJTL7E`kGR$TE<Â&#x2030;S-W +NZTG*$E5k CMTI9VDTGDSO$W n 6E.:;DS -E;V9ELkTE (DCP 98) 9@gWIg*7TU`M;*g$EEC$TEOT-@Wb;9TU_;DW< IOD %;hXE<SET*IGS Australian Alumni Awards Finalist +T$ Australian Alumni Awards 2017 `GRD*Sc6Eh<S`7*g7*hS_=;fO;$ZEEC$TE <EKV9S c=EK5DWck9D 7*hS`7_gCKTD; 2560 9>gWTg;CT _@OgY6`[G`>;$GD9Z:6kTh;_9'a;aGDLWTEL;_9J b;$TE>G$S6;S _9'a;aGD6WTh; IT _@OgY;TCT U b- b;$TE=ES<=EZ*$TE<EV$TEG[$' T`GR$TE <EMVTEO*'$kEO$W6IhD n 'Z5OT;;9k aOBTL @CVG:EEC (DCP 248) _%ThE<S7TU`M;*g $EEC$TE >Oh[T;ID$TE U MEOY President & CEO <EKV9S JEOWD:ZDT `'==7VOG +UT$6S(CMT-;) n _@OgY; LCT-$V LTCTE8L*g'ETI%TgI'ETI_@OgY9T* IOD +Rc6=hER-TLCS@;S:bkM`h$_g@OgY;LCT-$V c69hET< cCIgTg+Rc6_hGOgY;7TU`M;*g E<SET*IGS 7Tg*e MEOY_EOgY*O;gYe CTc6 9?gWTgDLCT-$V LCS@;S:ck69hMgWCTD_G% 02-955-1155 7Og 404 MEOY suthineeÂ˝thai-iod.com ----------------------------------------

Prof Dr Pairash Thajchayapong

Mr Puttipong Prasarttong-osoth

Miss Suwanna Jakraworavudh

Mr Tevin Vongvanich Miss Jareeporn Jarukornsakul

Ms Monwipa Choopiban

B o a r d r o o m | 53

Member Corner

M R COORNERR MEMBER MEMBERCO Board corner in this issue would like to begin with congratulating on the awards and promotions of alumni and current attendants of DCP classes. First, Prof. Dr. Pairash Thajchayapong (DCP 114), a Chairman of Kasikorn BusinessTechnology Group (KBTG) got the award “Best Innovation Center of Thailand in Monetary Institute” from The Asian Banker Technology Innovation Awards 2017 organized by the magazine Asian Banker at Asian Civilization Museum, Singapore. n Mr. Puttipong Prasarttong-osoth (DCP 241), a President received “Drive Award Strategy” on behalf of the organization that drove economy and business at national level from Drive Award 2017 organized by Alumni Association of Faculty of Commerce and Accountancy, Chulalongkorn University. n Mr. Tevin Vongvanich (DCP 21), a Chief Executive Officer and President of PTT Public Co., Ltd. received an award “an Outstanding Person in Human Resource” from Human Resource Institute, Thammasart University. n Ms. Monwipa Choopiban (DCP 164), a Vice President of Organization Affair Department, delegate from IRPC Public Company Limited received an award “an Outstanding Enterprise for Social and Environmental Responsibility and Sustainable Organization Development” in investment in people from Enterprise Asia, an independent organization in promoting responsibility and sustainability in Asia Pacific. n Mr. Sukrit Surabotsopon (DCP 132), a President received an individual award for “Asia’s Best CEO (Investor Relations)”. n Mrs. Rachadaporn Rajchataewindra (DCP 204), Vice President in accountancy and finance of IRPC Public Company Limited received and individual award “Asia’s Best CFO (Investor Relations)”. n Mrs. Kesara Limmeechokchai (DCP 204), a Vice President of PTT Petroleum Exploration and Production Public Company Limited received “Asia’s Best CFO (Investor Relations)”, “Best Investor Relations Company (Thailand)” and “Asia’s Best Environmental 54 | B o a r d r o o m

Responsibility” from The 7th Asian Excellence Recognition Awards 2017 in Hong Kong Chinese Special Administrative Region. n In Money & Banking Awards, there were many alumni from DCP classes, starting from Mr. Chatchai Payuhanaveechai (DCP 116) received an award “Financial Person of the Year 2016” and “Bank for Small Customers of the Year 2017” , Mr. Arthid Nanthawithaya (DAP 106), President and Chief Executive Officer of Siam Commercial Bank received an award “Bank of the Year 2017”, Mr. Somchai Soongswang (DAP 107), a Managing Director of Fort Smart Service Public Company Limited, received an award “Best Company of the Year 2016” in MAI stock exchange and specially congratulation for Mr. Somchai Lertsutiwong (DCP 114), Chief Executive Officer of Advance Info Service Public Company Limited received an award “ Best Company of the Year 2017” in stock exchange of Thailand. Moreover, he also received an award “Best Organization Management of the year 2017” from Drive Award 2017 which was organized by MBA Alumni Association of Faculty of Commerce and Accountancy, Chulalongkorn University. n Dr. Tanai Charinsarn (DCP98), Professional Director in IOD Chartered Director received an award “Australian Alumni Awards Finalist” and has been promoted for sub-committee of Thailand Post in April 2017 recently to supervise strategy plan in IT and push IT technology for the improvement of customer service and organization management n Mr. Arnon Opaspimoltum (DCP 248) has been promoted for President and CEO of Sri Ayuthaya Capital Public Company Limited. n If you have any news of our fellow members about receiving award, being promoted or other matters, you could contact IOD to publicize the news to other members via Member Relationship at Tel. 02-955-1155 ext. 404 or suthinee@ thai-iod.com -----------------------------------------------

Mr. Sukrit Surabotsopon Ms. Rachadaporn Rajchataewindra

Mrs. Kesara Limmeechokchai (Left)

MissSuwanna SuwannaJakraworavudh Jakraworavudh Miss

Mr. Somchai Soongswang- Mr. Arthid NanthawithayaMr. Santi Viriyarungsarit- Dr Somkid Jatusripitak Mr. Chatchai Payuhanaveechai- Mr. Somchai Lertsutiwong MissJareeporn JareepornJarukornsakul Jarukornsakul Miss

Mr. Arnon Opaspimoltum

Board Success

*T;CO<=ER$UTJ;WD<S7E`$g>h[>gT;$TEEO<EC MG$SL7[E DCP +6S%;hX_=;f'E*hS9gW 3 %O*=;WbhW;-Ig*Â&#x2020;ÂľĂ&#x2C6; I;S9gW 9 L*VMT'C 9>gWTg;CT 5 MOh* <OGE[C aE*`EC O;;S7ET LDTC `C+hR_=;fI;S?;7$9EgW876V`79g$Z';$f CT$;SODTg*@EOhC_@EDW* a6DCW JTL7ET+TEDMkEVÂ&#x2030;S E6WJ E,W '5Z@+;DWk :;IET;-V, JTL7ET+TED@k_VJK $7V@V*Jk OEZ@@W4S;@*J,k '5Z-J[$S6V 6_VE$I4S;-DS `GR6E.<5S37V ;+V8TIE $EEC$TE IOD CTEIgC`L6*'ITCD;V6`W$g For the 3rd time this year, the DCP Certificates presentation ceremony >Eh[<S=ER$TJ;DW<7SE DCP `GR>Tg;$TELO< Director for successful attendees of the DCP training courses was held in the Diploma Examination 9$Z9Tg;

CONGRATULATIONS Award Presentation DCP 237-241/2017 & Diploma 56-57/2017

evening of August 9th at the Ballroom, Anantara Siam Hotel, Bangkok. Despite the heavy rain downpour and resultant traffic jam, everyone arrived for the happy event, which was attended by Prof. Hiran Radeesri, Ms. Potjanee Thanavaranit, Prof. Kitipong Urapeepatanapong, Mr. Chusak Direkwattanachai, and Dr. Bandid Nijathaworn President and CEO of the IOD, who came to congratulate recipients of the DCP Certificate as well as certificate recipients who successfully passed the Director Diploma Examination. The event kicked off with a showing of various â&#x20AC;&#x2DC;photo and VDO clipsâ&#x20AC;&#x2122; of attendees and their activities during the DCP courses, resulting in much laughter and smiles from the attendees. This was followed by the certificates presentation ceremony for the successful recipients who passed the Director Diploma Examination Classes 56 - 57 as well as those recipients who successful attendees of the DCP Classes 237 - 241. During the last part of the ceremony, Mr.Thammayot Srichuai, Director PTT Pcl. and President of the DCP Class 239, representing all the Presidents of DCP Classes 237 â&#x20AC;&#x201C; 241, gave a speech. The event then ended with Dr. Bandid Nijathaworn, President and CEO of the IOD, giving the closing remarks and presenting rewards to those who achieved the highest scores in each class; namely: Dr. Supatra Assavasukee , Chairman of YHVH Co., Ltd., Mr. Surachai Saengsamran, Director of Thai Oil Public Company Limited, Mr. Pratchaya Sananvatananont, Director of Reed Tradex Company, Mr.Chaiyot Piyawannarat, Managing Director of ABB Limited, and also Mr. Jan Rosemeyer Director of BSMC (Thailand) Co.,Ltd who also achieved the highest score of all the attendees at the 5 DCP Classes. The IOD wishes to congratulate all successful recipients, and hope that they will all make full and effective use of the new knowledge obtained from the DCP Courses in their duties and responsibilities as a Board Director. The IOD also wishes that they will attend various other relevant training courses offered, as well as join in the various activities undertaken for its Members by the IOD so as to obtain even more knowledge and also to meet up with fellow IOD Members and colleagues.

_ EgV C 7h ; * T ; 6h I D $ T E _ =V 6 ' GV = = E R C I G B T @ â&#x20AC;&#x153;_$<f7$â&#x20AC;? ERMITg*$TEO<EC 9LgWETh*EODDChV `GR_LDW* MIS_ETR +T$>Eh[IgC*T;_=;fODgT*CT$ 7Og6IhD$TECO< =ER$TJ;DW<7SE`$>g>h[Tg;$TELO< Director Diploma Examination 'E*hS9gW56-57 `GR>>h[Tg;$TEO<ECMG$SL7[E DCP E;gZ9gW 237-241 b;-Ig*9ThD%O**T; '5Z:EECDJ JE-WIgD $EEC$TE <EKV9S =79. +UT$6S (CMT-;) =ER:T;E;gZ 239 c6%h;hX $GTgIb;2T;R7IS`9;=ER:T; E;gZ 237-241 =6V9ThD 6IhD 6E. <5S37V ;+V8TIE $EEC$TE>Oh[T;ID$TE IOD %hX;$GgTI=V6*T;@EhOCCO<ET*ISGbMh`$g>h[9gWc6h'R`;; L*[L6Zb;`7GgRE;gZ .*gXc6`h$g 6E.L@Z7SET OJSIL%ZW =ER:T; $EEC$TE <EKV9S ITD _O- IW _O- +UT$6S, 'Z5LEZ-DS `L*LUTET $EEC$TE<EMVTE <EKV9S c9DOODG +UT$6S (CMT-;), 'Z5=E-SÂ&#x2030; L;;gSI4S;T;;9k $EEC$TE <EKV9S E6hW _9E6_6$f.k +U$6S, 'Z5-DSDJ =DVRIEE5E7S;k $EEC$TE >+h[6S$TE <EKV9S _O<<WW +UT$6S .*gX Mr. Jan Rosemeyer Director BSMC (Thailand) Co.,Ltd _=;f>ch[6'hR`;; 9LgW*[L6Zb;9*hS 5 E;gZ;hW 9T* IOD $%fO`L6*'ITCD;V6`W$9g$Z9Tg; `GR MI*SIgT9Tg;+Rc6;hUT'ITCE9h[cgW6Eh<S+T$ DCP c=b-bh; M;Th9$gWEEC$TEc6OhDTg*C=WERL9V:BVT@ `GR%O9Tg; $G<SCTO<ECMG$SL7[E7Ogc= EIC9*hS_%ThEIgC$+V$EEC 7Tg*e%O* IOD _@OgY_@CgV@;['ITCEh[ @EOhC@<=RL*SLEE'k $<S_@OgY;LCT-$Vc6h

'OGCS;;k_hWETc6EhI<EIC ETD-OgY>>h[Tg;$TELO< Director Diploma Examination `GR>[ > T;$TE We present in this column the names of those persons who have successfully passed the Director Diploma Examination together with those persons O<ECMG$SL7[E DCP @EOhCBT@<EEDT$TJb;*T;CT who successfully attended the DCP Classes, together with offering various bM-hC$;S views of the happy ambiance of the certificates presentation ceremony. B o a r d r o o m | 55

Director Diploma Examination 56/2016

Director Diploma Examination 57/2016

Ms.Su Myat Hla Ms.Jasmine Thazin Aung Ms.Khin Sanda Win Dr.Sasamon Sanguansin Dr.Somneuk Sanguansin Mrs.Thiri Thant Mon Ms.Tina Singhsacha Ms.Victoria Bowman

Mr.Blake Dimsdale Mr.Chanchai Phansopha Ms.Wannawat Hemachayart

DCP 237

Director Certification Program 237/2017 ;TD_$EDW*c$E BE[IV9VDIk4S;T ;.L.$GZ;6T aONTEE$SK:kEEC ;TD-;;V9Ek +*_+E VDT;;9k ;.L.5I6W _EOY*E7S;_C:W ;TD;$VG[ JGVTLIZEE5 ;.L.;@_$Th L+ZE7V$GZ ;TD<5S37V @9V$SKLk9V:kV EJ.6E.<;ZDE-S7k $7VDVT;;S9k ;.L.=DV@E @EE5_-K2 @G.E.7.=DVR OT+C*Z'5Z ;.L.@+V7V7ET c7EE7S;:T6T

;T*@4S;@E c7E@@V4S;k ;TDLC+7VEk _=DgWC_=ECL%Z ;TDc@E7S;k 9<S9CV_9J ;TD_O$ @+VTE5+k7VE ;.L.E+ZEVT -IgD<UTEZ* ;T*O-VDT LTI;TD; ;T*EC6VT ELS_.GGk C5_WL8DWE ;TDO;-ZT7V 6=WER_LE2V ;TDOLVE;V9Ek LIZ4Sa; ;TDI-VDS LCVR:CS;;S9k ;TDIEWR@*Jk JBZ_JEK2Jk$S6kV ;TDD*D9Z: +;S9EaE9DS ;TDIJVKV1k E$SKIkJVKV1Ik*Jk ;TDDO6-TD OJSI:*-DS ;TD`L*-DS a-7-VIg*--SITG ;TD=2C@*J LEV-DSE7S;k ;.L.L:Z6VT C*'GL:ZW ;TDL9V:_V6- CDSGTB ;TDL;S7V =EIVLV9Z:kV 6E.L@Z7SET OJSIL%ZW

Prof. Hiran Radeesri

Mr. Thammayot Srichai

DCP 23º

Director Certification Program 238/2017 ;TD-CZ@E @GE$SKk ;TD_-TIE7S;k _-TI;-kIT;GV ;.L.2T;;S6Ek <EE+*6W ;TD:EWRI4S;k <IS9O* ;TD:EWJ$S6kV JEVaVLB5T ;TD;@V2VB5 < Z_LECV ;TD=ERI9VDk _7-RI+V7VEk ;TD=ER_IJ OJSI6T$E ;.L.>$T9@VDk aG@;S:JkEW >J.6E.@E IEVNZMEk$SKk 56 | B o a r d r o o m

;TD@EWR@4S;k JELW'Z;:k ;TDBI[LKV0k _-02Ok6ZCGTB ;TDC*'G ;F;T96UTE*' ;TDGOY-DS L6ZLT'E ;TDI;S-DS M*L_k-6V-DS ;TDIEI4S;k BTOTBE5 ;TDIEI9VDk <IEI4S;R ;.L.IcVG 7;S7;V;S9:k;T ;TDILZ JEVDV*gV ;TDL:ZW 7T5IT5-V$GZ

;TDLT:E O@Z;SI;S ;TDLCF9:kV @;S::kTE7S;k ;.L.LTE$VT OBIVEE:$$GZ ;TD_O$-DS %+E'UT ;TDOBEV$SKk +7VET;;9k ;.L.OCECTGD OCS@E@LV1V2k ;.L.OEOCZT L`WL*9O* ;TD@BV@ IEWR@*Kk ;TDLEZ-DS `L*LUTET ;TDL8T@E OTLRcID

Director Certification Program 239/2017 ;TD$7V7V < Z=ER'O* ;TD$UT:E $7V7OVLVET;;9k ;.L._+;+EVT $7V7OVLVET;;9k ;TD:;J$SDk O'SEBT;;9k ;TD:EECDJ JE-WIgD ;.L.;;S96VT $7V7OVLVET;;9k ;TD< Z-[ O*S-DSL%ZJEVV ;TD=ER$+V a.I$VGZ ;TD=E-S L;;gSI4S;T;;9k ;.L.=ET5JVT O+S,EDVJE@W*Jk ;TD=ER9=W L;S7IV4S;T

;TD=ERL*' @;S:GkCVT ;TDc@<G[Dk LUTET B7[V ;T*I;S9;T $;$L9Z:IV*Jk ;.L.IEKVT G@T;$ZEC ;T*`II';DWk OLSaLE7S;$kGZ ;.L.L9Z:T6T LIZEE5@7SET ;TDLC'6V _I';VI4S;_JEK2k ;TDLC-TD I*JEkJSCW ;TDLE2S _7$T +;I;-V 6E.LE5SDT `L*MEV S ;TDLIZL7V I9VDI+V$SK5k

;T*MF9DS L%ZD*gV ;TDO6JVE +;S9E>kOg* ;TDO;;S7k 7*hS7E*_I-$+V 6E.$GZDT 7;S7_V7C9V ;T*+EVIEE5 @*K@k-V7V$GZ ;TD=DVR +EVTBT@*JT ;TDCT;@ -;VIEVDV$GZ ;TDC;7EW ;:V$VGZ J.6E.BC[2VT; ES*'$G[;IZ4S;k Dr. Bandid Nijathaworn

Director Certification Program 240/2017 ;TD$T;7 E$SKTL%Z 6E.$FK1 ,;S9+EV@E ;TDa$I9V _;OgY*L%Z ;TD$Oh*$7V a$$;9ZTBE5k ;TD-T JBZIEE:;R$GZ ;TD-CZ@G =9T;'ZC ;TD-DSDJ =DVRIEE5E7S;k ;TD-DSI4S;k L$TI+7V @G.O._9DW;-DS E<S@E ;TD:;9S 7T7RDT;;9 ;TD:EW_6- _$6VLTOT*' U

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DCP 23»

DCP 240 B o a r d r o o m | 57

DCP 241

Director Certification Program 241/2017 Mr.Derek Van Pelt Mr.Jan Rosemeyer Mr.Jayanta Chakraborty Mr.Jean-Pierre Bienfait Mr.John Stevens Ms.Orayaporn Karnchanachari Mr.Puttipong Prasarttong-osoth Mr.Siew Pong Leong Mr.Thura Ko Ms.Tientip Narach Dr.Vincent Aloysius

Mr.Wayne Williams Mr.Chiranuwat Tanyacharoen Mr.Jean-Boris Roux Mr.Nishant Grover Mr.Paul Hayes Mr.Ricardo Augusto Amaro de oliveira Boarotto Mr.Thom Sirisant Mr.Vishal Kedia Mr.Zhisheng Xu Mrs.Zarchi Tin

DCP 240

58 | B o a r d r o o m

IOD New Exclusive Course

SBM English residential @ InterContinental Hua Hin Resort

Strategic Board Master Class Retreat SBM

SBM 2/2017

2 - 4 November 2017 Contact: 0 2955 1155 Ext.406 Ms. Tanyaporn tanyaporn@thai-iod.com

Welcome New Member

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Individual Member | Name

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Position

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62 | B o a r d r o o m

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B o a r d r o o m | 63

Juristic Member |

D;L%N DL;K}3N/4N R ?

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ASEAN’s Leader in Sustainable Energy

Myanmar Exploration & Production / Petroleum / Café Amazon

Laos Petroleum / Lubricants / Service Station / Café Amazon / Jiffy

Vietnam Lubricants / Chemicals / Exploration & Production

Cambodia Petroleum / Lubricants / Service Station / Café Amazon / Jiffy

Indonesia Lubricants / Coal Mining

Malaysia

Philippines

Gas Pipelines / Lubricants

Singapore Trading / Lubricants

Brunei Lubricants

Service Station / Lubricants / Café Amazon

Throughout our rigorous history, PTT Group’s determination and outstanding achievements in developing new technologies and innovations result in sustainable energy across the ASEAN community. With our trust in the people’s ability to push the boundary of innovation, our continuous exploration, business expansion as well as energy creation are the main drive for the economy, the society and the environment. By staying true to our belief in inclusive and sustainable approach, a greater collective benefit that will successfully further the ASEAN community’s growth can be achieved.