News Update

EGCO Group Wins 2 CG National and Regional Awards, Affirming Its International-Standard Corporate Governance Practice

23 January 2023

Electricity Generating Public Company Limited or EGCO Group’s commitment to international-standard good governance practice has been emphasized once again as the Company won 2 corporate governance (CG) awards in the 2022. The Company has continually achieved CGR score of “Excellent” level of recognition in the Corporate Governance Report of Thai Listed Companies (CGR) and received the ASEAN CG Scorecard – ASEAN Asset Class PLCs at the ASEAN Corporate Governance Scorecard.

Mr. Thepparat Theppitak, EGCO Group’s President, said, “EGCO Group has been operating electricity generating and comprehensive energy business with the commitment to environmental, social and governance (ESG) practice throughout the past 30 years. We have been upgrading our operations by strictly adhering to the good governance principles and responsibility towards all stakeholders. We believe this will enable the Company, the society and the environment to grow together in harmony and with optimum efficiency. EGCO Group has regularly reviewed and improved our corporate governance principles to best address the ever-changing business environment and comply with the good governance guideline set by national and international regulatory bodies. Our strong commitment and practice have enabled us to receive high recognition at both national and international levels.”

The CGR program has been regularly organized by the Thai Institute of Directors (IOD) and with support from The Stock Exchange of Thailand (SET) and The Securities and Exchange Commission (SEC). In 2022, EGCO Group has achieved “Excellent” level scoring with average score of 97 out of 100. This is significantly higher than the average scoring of SET-listed companies of 85, and higher than the average score of the 94 among SET50 companies. The Company also received 100 full scores for the Annual General Meeting (AGM) checklist.

At the regional level, ASEAN CG Scorecard has been regularly organized by ASEAN Capital Market Forum (ACMF) every other year. The result announced in 2022 reflected the operations and CG standard in 2021 of listed companies in 6 countries across ASEAN, including Thailand, the Philippines, Malaysia, Vietnam, Singapore and Indonesia. The ASEAN CG Scorecard is considered based on the listed companies’ English information published on their websites. EGCO Group received the award in the ASEAN Asset Class PLCs category, which is the award given to listed companies with higher than 97.50 scores (75% of the 130 full scores). This year, 234 ASEAN companies achieve this level of scoring and EGCO Group is among the 76 Thai listed companies receiving the award in this category.