:: BANGCHAK PETROLEUM PUBLIC COMPANY LIMITED ::

The Board has had a written corporate governance policy since 2003 for its executives and employees to adhere to:

Accountability for all decisions made and actions taken
Responsibility
Transparency in regard to information disclosure and being open to scrutiny
Equitable Treatment to all concerned parties
Vision to Create Long-Term Value
Ethics and virtue.

The corporate governance policy, section 2, stipulates the roles, duties and responsibilities of the Board in reviewing the policy regularly.

It is through the coordinated contributions of Directors, Executives and employees that the Company has received awards and national recognition in Corporate Governance (CG).

Board of the Year Awards 2008/09 Project achievements:
- The Board of the Year Award for Exemplary Practices for the third consecutive year, ranking in the top five with the highest average score
- Audit Committee of the Year Award, ranking in the top five with the highest average score
- Honorary Award (Hall of Fame) for being a Board with Consistent Exemplary Practices, presented to the Board that has received the Board of the Year Award for Exemplary Practices for three consecutive years.
This was organized by the Thai Institute of Directors (IOD) in conjunction with the Stock Exchange of Thailand (SET), Board of Trade of Thailand, Federation of Thai Industries (FTI), TBA, Thai Listed Companies Association, and the Federation of Thai Capital Market Organizations (FETCO).
SET Awards of Honor, presented at the SET Awards 2010 event, organized by the Stock Exchange of Thailand (SET) and Finance and Banking Magazine:
- Top Corporate Governance Report, in its fifth straight year. This award honors listed companies with outstanding reports on compliance with corporate governance
- Corporate Social Responsibilities, in its fourth straight year. This award honors listed companies with outstanding social responsibility practices.
Titanium Award (Corporate Governance), presented at The Asset Corporate Awards 2010, organized by The Asset Magazine. This award honors entities with outstanding Corporate Governance, which compared aspects of listed regional companies.
A plaque presented under a project on transparent organizations to those with promotional activities for corporate governance, righteousness, and transparency. The Company was among the ten private-sector finalists at this event, hosted by the Office of the National Anti-Corruption Commission.
he assessment outcome of a survey on good corporate governance reports of listed companies of 2010, organized by IOD (Thai Institute of Directors), showed that the Company commanded ‘excellent’ ratings in all categories, with top average scores for all categories among the entrants.
A perfect score of 100 for its quality under the Annual General Meeting (AGM) for 2010 project, sponsored by the Office of the Securities and Exchange Commission (SEC) in conjunction with the Listed Companies Association and the Thai Investors Association.

The Board of Directors of BCP is fully committed to conduct businesses under the principles of Good Corporate Governance. It has therefore formulated policies on management mechanism and supervision system to ensure that the company performs its operations with efficiency to attain its objectives and targets in adhering to transparency, accountability towards all stakeholders, and responsibility to the society as a whole. Corporate Governance Policy Statement is composed of 10 sections as follows:

Section	Title	Download
Section 1	Business Ethics		80 kb.
Section 2	Board of Directors		60 kb.
Section 3	Sub-committees		84 kb.
Section 4	Management		40 kb.
Section 5	Policy on Internal Control		612 kb.
Section 6	Rights and Equitable Treatment of Shareholders and Roles of Stakeholders		36 kb.
Section 7	Disclosure and Transparency Policy		36 kb.
Section 8	Code of Conduct for Directors, Executives and Staff Members		72 kb.
Section 9	Procurement Ethics		32 kb.
Section 10	Policy on Health, Safety, Environment and Energy		20 kb.

In 2008, the Company improved its vision to “Greenergy Excellence” or “the determination to build an energy business that is friendly to the environment for sustainable development” by setting the corporate values for employees to hold and practice to achieve the values, as follows:

B – Beyond Expectation
C – Continuing Development
P – Pursuing Sustainability

In pursuing sustainable business development, it is necessary to carry out business justly, transparently in a way that can be audited, looked up to by the general public, emphasizing the highest returns for shareholders, taking into consideration all stakeholders, as well as be conscious of the responsibility towards the environment and society in accordance with good corporate governance principles, which the Company has adhered to as its guiding principle since the Company’s establishment which states that “The Company shall develop sustainable business, while safeguarding the environment and society” The Company has continually focused in building the knowledge and understanding of good corporate governance principles among our employees in their daily routines, until it has become part of the corporate culture which corresponds with the employee culture to “Be virtuous, knowledgeable, and contributive to society” To this end, the Board of Directors and executives have served as exemplary role models for the employees, in coordination with ongoing public relations activities to promote good corporate governance culture. The Company has stipulated a good corporate governance policy shared by Directors, executives and especially employees who also have opportunities to participate in drafting the actual principles so that they can execute it.

Throughout 2009, the Company launched of public relations activities to promote a corporate governance culture, participated in corporate governance publicity by sharing understanding of the corporate governance policy with interested companies and organizations on several occasions and welcomed delegates from public and private agencies, as well as several educational institutions, to its operation, where experiences were shared and studied the Company’s corporate governance practices.

To this day, the Company has continued its commitment to the development of good corporate governance for the benefit of our shareholders and various groups of stakeholders, with the goal of developing the standard of corporate governance to meet international standards in accordance to the intention of the National Corporate Governance Committee, the Stock Exchange of Thailand, and the Securities and Exchange Commission, which is determined to elevate the credibility of the Thai capital market to be internationally accepted levels and competitiveness, inevitably benefiting the entire country.