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1) Sustainable development policy

AssetWise (Public) Company Limited and companies within the group (“Company”) is aware of the importance of operating business pursuant to sustainable development principles through building values in 3 aspects, namely, economic, social, and environmental on the basis of good corporate governance to foster a secure and sustainable growth for the Company pursuant to the following operational guidelines.

  1. The Company attaches importance to fostering sustainability in respect of all procedures in the business chain. It also promotes and supports interested parties through the business chain to operate in accordance with sustainable development principles to create value and growth for the Company in the long term.
  2. The Company has established an effective, transparent, and concise management system through business ethics, anti-corruption policy, and standardized internal control and audit procedures to gain confidence from interested parties of the Company.
  3. The Company conducts business in a fair manner. It is committed to compliance with laws, trade rules, and fair competition without any regard to other benefits arising from non-compliance with laws, regulations, and morals.
  4. The Company promotes observance of human rights principles recognized and protected under the Constitution of the Kingdom of Thailand, taking into regard human dignity, rights, liberties, equality, and non-discrimination on the basis of gender, age, nationality, religious, ethnicity, or belief.
  5. The Company treats employees with fairness, as it considers employees a key factor in creating value for and driving the business. The Company therefore has to ensure a work environment which promotes happiness, a good quality of life and focus on increasing the potential of staff, provide training to increase professional skills, as well as provide an equal opportunity for all to progress in their profession.
  6. The Company underscores the importance of interested persons. Interested persons are grouped in accordance with their respective needs. The Company can therefore meet the needs of all groups of interested persons comprehensively. There are also channels of communication through which interested persons can voice their opinions and make recommendations.
  7. The Company develops products which meet the needs of consumers, focusing on quality and standardized services to achieve customer satisfaction.
  8. The Company promotes participation in community and social development for resilience and sustainability, by being involved in various educational, religious, and athletic activities, human resource development, promotion of recruitment, and various community development projects.
  9. The Company attaches great importance to the management of environmental quality. It promotes the prevention and mitigation of environmental impact as a result of Company operation, such as by construction management, waste management, greenhouse gases. The Company collaborates with other sectors in society to organize events to conserve and improve the quality of the environment.
  10. The Company gives importance and promotes efficient use of resources and energy. It has established measures and procedures to reduce resource and energy use.
  11. The Company considers it important to manage safety, occupational health, and work environment for employees. This also extends to the Company’s interested persons.
  12. The Company develops and promotes innovation, both from products and work processes. It also supports innovation in collaboration with interested persons of the Company, to create value to the Company, society, and the environment.
  13. The Company attaches importance to risk management which covers all work processes. It established guidelines in managing and monitoring risk management continuously to maximize opportunities and mitigate losses in business operation.
2) Identifying key sustainability issues

The Company identifies key issues concerning sustainability development, together with those relevant to the business operation of the Company, to reflect sustainability work of the Company in various dimensions, whether from an economic, social, or environmental perspective.

Processes involved in identifying key sustainability issues

1. Identification of sustainability issues

The Company deliberates on the selection of sustainability issues related to the Company’s business jointly with its interested persons in each business process together with the United Nations Sustainable Development Goals (UNSDGs).

2. Order of priority of key issues

In prioritizing key sustainability issues, the Company takes into account the issues that affect its operations and the operations of its interested persons.

3. Examine issues

The Company presents key sustainability issues and their order of priority to the Corporate Governance Committee for approval of each key issue and to form a guidelines for the Company’s sustainability efforts.

4. Review

A review on key sustainability issues is conducted on a yearly basis to ensure suitability of the issues.

Assessment on the significance of key sustainability issues
Key sustainability issues (Materiality)

Sustainable Development Policy

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1) Business value chain

The Company identifies the business value chain to ensure effectiveness in all procedures of key operations of the Company, which leads to sustainable development of the Company.

Value chain Procedure Relevant interested persons
Identifying location
  • Procurement of potential land
  • Conduct a feasibility study on project development
  • Employees
  • Business partners (landowners)
  • The community
Land purchase
  • Transparent land procurement procedure
  • Employees
  • Business partners (landowners)
  • Creditors (Financial institutions)
Design
  • Planning and designing of project area which takes into consideration ofthe environment
  • Building designs comply with laws and meets the needs of customers
  • Design of facilities in the projects to be diverse
  • Selection of construction materials with standardized quality
  • Employees
  • Business partners
  • The environment
  • The community / society
Locating financial source
  • Locating financial source from financial institutions
  • Determining fair terms and conditions of loan agreements
  • Employees
  • Creditors
Procurement
  • Transparent procedure in selecting service provider
  • Providing equal opportunity for all service providers
  • Procurement of environmentally0friendly materials
  • Fair assessment of service providers
  • Employees
  • Business partners
Marketing and sales
  • Providing clear and accurate advertising information
  • Keeping confidential customer information
  • Conducting customer satisfaction survey
  • Holding promotional and sales events for customers
  • Determining fair terms and conditions for sales and purchase agreements
  • Employees
  • customers
  • Business partners
  • Financial institutions
Construction management
  • Construction according to plan and agreement with customers
  • Control and inspection of construction works to be per standards
  • Monitor environmental impact of construction on nearby communities
  • Monitor occupational safety and health with respect to construction projects
  • Taking care of construction labour
  • Employees
  • Business partners
  • The community / Society
  • The environment
Quality control
  • Inspect the quality of construction works to be in accordance with plans and agreements with customers
  • Inspection of units before delivery to customers
  • Inspection of the project’s common area and facilities
  • Reworking the construction work to be complete
  • Employees
  • Business partners
  • customers
Delivery
  • Facilitate customers application for loans
  • Deliver completed units as agreed with customers
  • Facilitate ownership transfer to customers
  • Procedures for inspection and acceptance of units and rework for completeness
  • Employees
  • customers
After sales services
  • Management of condominium juristic persons
  • Customer complaint procedures
  • Customer satisfaction survey
  • Organizing events for customers
  • AssetWise Club
  • Employees
  • customers
2) Analysis of interested persons in the business value chain

The Company categorizes interested persons into internal interested persons and external interested persons, to ensure that all procedures in the business value chain are covered. The following is the Company’s guidelines for meeting the expectations and participation of interested persons.

Interested person Expectation of interested person Communication channel Response of the Company
Employees
  • Fair and proportionate remuneration and welfare benefits
  • Skill and knowledge development
  • Professional stability and advancement
  • Fair and equal treatment in accordance with human rights principles
  • Occupational health and safety and a good working environment
  • Equal access to news, communications, and policies of the organization
  • ASW Intranet
  • www.assetwise.co.th
  • Line: Assetwise Family
  • Facebook: Assetwise Careers
  • Annual internal training for employees
  • New employee training
  • Remuneration and welfare benefits which is proportionate to the work of each employee
  • Annual employee training and development plan
  • Various activities to strengthen body of knowledge and happiness in working
  • Criteria for annual performance assessment
  • Business ethics
  • Channels and procedures for raising complaints, voicing opinions, and whistleblowing.
  • Annual survey of employee satisfaction
Shareholders
  • Continuous growth in performance
  • Growth in asset value
  • Dividend payment
  • Transparent disclosure of information
  • Equal treatment of shareholders
  • Channels for voicing opinions and communicating
  • www.assetwise.co.th
  • Shareholder meeting
  • Meeting with analysts and investors
  • Facebook: Assetwise
  • Annual report (56-1 One Report Form)
  • Transparency in its operation under Good Governance principles
  • Divined payment policy
  • Corporate governance policy
  • Complete and transparent disclosure of business and financial information
  • Providing equal rights and opportunities to shareholders
  • Investor relations and Company newsletter subscription channels
Customers
  • Quality products and services
  • Fair and appropriate product price
  • Delivery of products in accordance with agreements
  • After sales services
  • Providing complete and accurate advertising information
  • Keeping confidential personal data of customers
  • Channels for voicing opinions and complaints
  • www.assetwise.co.th
  • Facebook: Assetwise
  • Facebook: Assetwise Club
  • Instagram: AssetWise Thailand
  • Youtube: AssetWise Channel
  • Call Center
  • App: AssetWise
  • Customer relation activities
  • Determining agreement terms and conditions which are fair and in accordance with the law
  • Providing complete, accurate advertising information in compliance with the law
  • Conducting quality control prior to delivery
  • Training sales and customer relations employees
  • Continuous design and development of products
  • Providing financial advice to customers before they decide to make a reservation
  • Organizing events for customers
  • Assetwise Club with various benefits for customers
  • System for notification of repairs and receipt of complaints
  • After sales service procedures
  • Customer satisfaction survey
  • Data security system for customers’ personal data in compliance with personal data protection law
Creditors
  • Fair agreement terms and conditions
  • Complete observance of agreed terms and conditions
  • Complete and timely payment of debts
  • www.assetwise.co.th
  • Facebook: Assetwise
  • Call Center
  • Customer satisfaction survey
  • Determining fair agreement terms and conditions
  • Strict compliance with terms and conditions of debt repayment
  • Procedure to ensure dept repayment is correct and timely
Business partners
  • Equal opportunities for all business partners
  • Fair process for the selection of business partners
  • Fair agreements
  • Appropriate and equal compensation
  • Respect for the human rights of business partners
  • Communication channel
  • www.assetwise.co.th
  • Call Center
  • Meetings with business partners
  • Determining a fair criteria and procedure for the selection of business partners
  • Establishing a procurement committee
  • Determining fair agreement terms and conditions with and compensation to business partners
  • Knowledge development and sharing with business partners
  • Effectuation an evaluation of business partners
The community / Society and the environment
  • Protection of environmental impacts to the environment from project construction
  • Construction work safety
  • Joint development of surrounding communities
  • www.assetwise.co.th
  • Call Center
  • Facebook: Assetwise
  • Facebook: Punn by Assetwise
  • Activities to develop and assist nearby communities
  • Prepare an Environmental Impact Assessment report.
  • Monitor safety of project construction in accordance with the law
  • Organizing joint activities which develop and assist nearby communities
  • The Grow Green project
  • Providing a channel through which complaints can be filed
Competitors
  • Fair competition
  • www.assetwise.co.th
  • Facebook: Assetwise
  • Call Center
  • Uphold fair competition and refrain from taking unfair advantage of business competitors
1) Environmental policy and practice

The Company operates its business taking the environment into consideration in every process of the business value chain. This is to ensure that the Company contributes to the mitigation of environmental impacts, and is able to strike a balance between business operation and the environment.

The Grow Green project

The Company has established an environmental policy and guidelines through its Grow Green project in which the Company has resolved that

“We all have an impact on the Earth. We will operate the business for the simultaneous betterment of life and of the Earth.”

2) Environmental performance

The Company underscores the importance of its environmental performance to reduce environmental impacts both through its operation and various activities, as follows.

1. Environmental Management (Headquarter) 2021

AssetWise places high priority on the environment and thus set out Grow Green Policy for the headquarter covering all environmental management efforts including waste management, water saving and electricity saving. For waste management, the Company encourages employees to sort waste at the headquarter with a target to reduce general waste by 70% and categorize waste into 4 types which are recycling waste, organic waste, hazardous waste and general waste. The performance in waste management in 2021 boasted the reduction of general waste by 60.57%.

Regarding water consumption, the Company promoted various good habits to optimize water usage including turning off water taps properly, getting just right amount of water for drinking and reusing water for other purposes. For the electricity saving, AssetWise encouraged people to set air-conditioning at 25C and only to turn on lights when necessary. Moreover, solar cells were installed in some parts of the building to reduce electricity usage while plants were placed to cover the building. The building was also designed to have facades to prevent heat from entering the building which helps save energy from air-conditioning.

2. Energy management

The Company gives importance to and promotes efficient use of energy and reducing energy use both in the office and in construction projects. This design takes into consideration wind direction and natural lighting to reduce the use of electricity from electrical appliance in the building and in the units. Equipment, tools, and appliances for use in the office, common area, and in each unit focuses on energy-saving, such as energy-saving light bulbs, energy-saving elevators and inverter air conditioners which are energy saving.

Moreover, a solar rooftop system has been installed on the main office’s rooftop to generate solar energy to be used in the office instead or conventional system

The Company collaborated with Haupcar, a car sharing service provider and rental provider of electrical vehicles for clean energy, in providing car rental service points through the HAUP application on smartphones which is available 24 hours for customers in the Kave Town Space project, in the Mingle Mall, and for employees in the office.

3. Water management

The Company focuses on efficient use of water resources with maximum benefits. The landscaping of the project lends itself towards the ability to recycle and reuse rainwater for maximum efficiency. The water system plan in the building is also designed for maximum efficiency.

Moreover, in the procurement process of materials and equipment for the project and units, the Company uses materials and equipment which help save water, such as water taps and pipes. It also continuously inspects and maintains the waterworks system both in the head office and in the project offices.

In terms of the construction process, the Company takes into consideration the wastewater arising as a result of operations. It established a system to examine wastewater quality, controlling the volume of wastewater discharge, and creating a wastewater treatment plant. The Company strictly upholds and adheres to the criteria on wastewater management as provided in the Environmental Impact Assessment Report (EIA).

Upon completion of project construction, the Company puts into place an ozone wastewater treatment plant in every project, to treat wastewater from the use within the projects, and to recycle for maximum use, such as to water the plants, to clean the roads, and to clean the common area space.

4. Garbage, waste, and pollution management

The Company attaches importance to waste management particularly those arising from the Company’s operations. The Company strictly observes the criteria stipulated in the Environmental Impact Assessment Report (EIA) with respect to every project of the Company. It also assesses air pollution quality, namely, smell, sound, and dust. It is found that legal standards have been met, and that there are no leakages of toxins from the business operation of the Company.

In addition, the Company supports its contractors in organizing campaigns for construction workers to separate waste from daily life, such as plastic bottles, food bags, glass bottles, and food containers, whereby recyclable garbage can be used to exchange for dry food items and beverages.

In respect of projects for which construction has been completed, the Company collaborated with Little Big Green to address waste separation in the projects through the “Yaek Bin Gun” project to manage waste from the source. There is color coding of the garbage bags for each unit type, and all garbage bin colors are available in each floor. This allows waste to be separated more easily later on. The juristic persons and general workers are trained on waste separation. Live activities are held to provide knowledge on waste separation to employees, customers, and the public in the topic “the new method of waste separation helps improve our lives” through the Little Big Green Facebook Fanpage.

For the main office, the Company has continuously held activities to call for employees to reduce creating waste and reduce the amount of waste from daily life, such as separation of food waste, reducing use of plastic cups and plastic bags, separation of plastic waste and cleaning plastic waste from employee use to deliver to Corsair, to be recycled into biofuel. The Company organizes the “toxic waste for donut” activity whereby employees separate toxic waste, such as batteries, light bulbs, spray cans, and expired medicine and hand such garbage to the Company for proper disposal. As for the Company’s computer equipment which is no longer used, they will be given to the Association of Persons with Physical Disability International for recycle and sold whereby the proceeds will be used for assistance of the disabled.

5. Management to reduce greenhouse gases

Given the impacts from global warming, many countries across the world became more aware and active in reducing the emissions of greenhouse gases. AssetWise is among those who prioritize this issue and put efforts in improving carbon footprint of the organization. The registration for carbon reduction certification for buildings was completed in 2021 to initially survey data to obtain greenhouse gas emission numbers from the Company’s business activities with the purpose to set a target for greenhouse gas emission reduction in the long term (Scope 1 and Scope 2) to set greenhouse gas emission reduction target in the long run compared to annual sales to 40% lower than 2020 emissions within 2030.

The Company is aware of the greenhouse effect, and as such has made a compilation of the details of all activities which cause the emission of greenhouse gases, whether directly or indirectly. The purpose is so that the Company can assess the total volume of greenhouse gases emitted by the activities of the Company’s headquarters and make calculations to determine the carbon dioxide equivalent. This allows the Company to be able to determine the approach of management to reduce greenhouse has emission effectively. The scope that the Company requested to be certified is the headquarter of AssetWise Public Company Limited between 1 January – 31 December 2020. The volumes of greenhouse gas emissions are as follows.

Perimeter 1: Direct emission and absorbance of greenhouse gases by the organization, such a greenhouse gasses directly arising out of the organization’s activities.

Perimeter 2: Indirect emission and absorbance of greenhouse gases from the use of energy, such as the volume of greenhouse gases from the use of electricity in the organization.

Perimeter 3: Other indirect emission and absorbance of greenhouse gases.

The total volume of greenhouse gases emitted by the Company is 987 tons (or kilograms) comprising 185 tons (or kilograms) carbon dioxide direct emission and 163 tons of indirect emission. The examiner is an environmentally-friendly business strategy research center.

In reference to the greenhouse gas emission report, Assetwise PLC. has established 2022's goal, namely greenhouse gas emissions reduction scope 1 and scope 2, where 2020 was selected as the base year, compared to 2022 as the current year.

Summary of greenhouse gas emissions
Scope Greenhouse gas emission source Volume of greenhouse gas (TonCo2e)
Scope 1 Use of fuel: On road_Gasohol 23.58
Use of fuel: On road_Diesel 118.54
Air conditioner Coolant: R-32_Leak 0.49
Air conditioner and refrigerator Coolant: R-134a_Leak 0.0049
Air conditioner Coolant R-41a_Leak 18.10
Wastewater from septic tank (employees, general workers, and security guards) 24.08
Total of Scope 1 184.79
Scope 2 PEA Electricity 162.70
Total of Scope 2 162.70
Scope 3 Water supply 2.19
Paper-miscellaneous 3.88
Paper-stationery 13.77
Garbage 8.32
Garbage transportation - departure (100% load) 0.01
Garbage transportation - arrival (100% load) 0.0002
Business transportation - Taxi 0.45
Employee commute - Gasohol 491.64
Employee commute - Diesel 80.59
Employee commute - Taxi 3.62
Employee commute – Skytrain 1.93
Total of Scope 3 638.56
Other separate reports Air conditioner coolant: R-22 6.04
Refrigerator coolant: R-600a 0.000004
Total of other separate reports 6.04
1) Societal policy and practice

The Company operates its business with due regard to social values. The Company is committed to develop its business for sustainable growth, by offering quality products, being honest in its profession, and being responsible for the development of society at large through the following societal policy and guidelines.

Respect for human rights

The Company is aware of the importance of the respect for human tights, human dignity, and fundamental rights. The Company is committed to fair and equal treatment of all. It has also mandated that treatment between employees be so in a respectful manner. Moreover, the Company gives importance to labour issues. Fair and equal treatment is observed throughout the entire procurement process. There is no discrimination from selection, remuneration, performance assessment, among others. The Company also promotes human rights. It will not engage in any act that violates human rights. It will not use forced labour, irrespective of its form, or labour from human trafficking, or illegal child labor.

Fair treatment to labour

Employees are considered the most valuable resource, and is a key success factor. As such, the Company is committed to develop and fortify a good corporate culture and working environment. It promotes teamwork and building of goodwill and unity within the Company. Employee treatment is merit-based. Moreover, the Company attaches importance to clear and tangible promotion of health, safety, and the environment with respect to employee work conditions. As such, it has adopted the following practice.

  1. Treat employees with respect. Respect the honor, dignity, individuality, and human rights of employees.
  2. Protect the personal data pf employees by limiting the disclosure and use of personal data such as family history, salary, performance assessment results, and medical history to Company personnel on a need-to-know basis. Personal data of employees will not be disclosed to any third party without the prior consent from the employee, unless required by law.
  3. Provide equal opportunities in employment, appointment, and relocation, as well as award, compensate, or sanction with honesty and on the basis of their knowledge, skill, and capacity, as well as Company rules, without regard to gender, nationality, ethnicity, religious, or belief.
  4. Fair remuneration of employees. Remunerate employees at the rate over that stipulated in the law, both for long and short term employment, taking into consideration the Company’s and the employee’s performance. The Company will manage the remuneration, salary, and benefits so as to incentivize and retain knowledgeable and skillful employees with the Company.
  5. Ensure that the working conditions is always safe to the life and property of the employees. Ensure occupational health and provide employee welfare and benefits, such as provident funds, medical care, annual health checkups, marriage monetary gifts, funeral monetary contributions, provision of accident and health insurances. The Company also continuously communicates to employees to make use of the benefits, so as to maintain a good quality of life.
  6. Attaches importance to the development and increase of skill and potential to prepare readiness for professional growth, by continuously and comprehensively providing opportunities for employees to learn.
  7. Uphold strict compliance with laws and regulations relevant to employees and avoid engaging in any act that is unfair or that will adversely impact employees.
  8. Cultivate and create moral consciousness in sharing, giving, respect towards each other, and being a good citizen of society.
  9. Determine policies on safety, health, and the environment in employees’ performance of work and ensure that employees strictly observe such policies. The safety policy is as follows.
    • Committed to supporting Company activity simultaneously with compliance to safety laws and relevant regulations.
    • Providing that occupational safety is the first responsibility in all performance of work for all employees.
    • Providing that supervisors in all levels must lead by example, and teach, train, and incentivize employees to perform work safely.
    • Providing that all employees be concerned about the safety of themselves, their colleagues, and of the Company property at all times.
    • Providing that all employees maintain the cleanliness and orderliness of their working area.
    • Committed to promoting safety activities which boosts, promotes, and develops consciousness of employees to be safe at work.
    • Committed to promoting the continuous review, improvement, and development of safety management systems.

Responsibility to customers

The Company is committed to achieve customer satisfaction, which has an impact towards the success of the Company’s business. The Company therefore continuously seeks ways to efficiently and effectively meet the needs of customers. It has put into effect an after sales service system to maintain amicable relationships in the long term. The Company has thus established the following operational guidelines.

  1. Deliver products and services which are of quality, meets or exceeds the expectations of the customers at a fair price. The products and services must be safe, not dangerous to the health of the customers, and reliable. The Company does not limit the customers’ right to access its products and services, and determines fair trade conditions for customers.
  2. Provide accurate, sufficient, and up-to-date news and information to customers to prevent any misunderstandings in the quality, quantity, or any conditions of the products or services without distorting the truth.
  3. Correspond with customers respectfully, effectively, and create reliability for customers. Respond to the customers need promptly to ensure maximum customer satisfaction.
  4. Effectuate a data security system for customers. Take care to not allow any customer data or secrets to be used for the illegal benefit of any party. The Company will not disclose customer information without prior consent from the customer or the Company’s authorized representative, unless required by law.
  5. Prepare a document introducing the service team personnel to customers after transfer of ownership. Monitor and conduct a survey on customer satisfaction. Foster relations with residence and support customers; social responsibility activities as well as to the environment.
  6. Make available a channel for customers to make recommendations and file complaints and report problems in connection with the Company, or to request assistance and advice on all matters relevant to the Company.

Treatment to business partners are contractual parties

The Company adopts a policy to observe fair and equal treatment of business partners. In taking all actions, consideration must be given to reputation, and compliance with laws, rules, regulations, and significant customary practice, as well as the promise given to business partners. Consideration must be given to equality in business operation and the mutual benefits of business partners. As such, the following guidelines have been adopted.

  1. The Company treats business partners with equality under the same conditions so as to be fair to all parties.
  2. Provides an opportunity for new business partners to collaborate with the Company, to ensure skill development and the adoption of new technology. The business partner selection procedure is fair, transparent, and accountable.
  3. Provide truthful information and reports to business partners.
  4. Not request, accept, or pay any benefits which are not of honest trade practices to business partners. To prevent unfair practices, the Company prohibits the acceptance of any property or benefits from business partners or other persons with a duty or business related to the Company. Gifts received as part of general customs, such as in New Year’s, shall be forwarded to the human resources division for common use in the Company.
  5. Promote business partner cooperation in the prevention of corruption by not providing any form of bribery to governmental officers or to employees of the Company to provide any advantage in any case whatsoever.
  6. Strictly comply with agreements and all agreed terms and conditions. In the case it is not able to do so, the business partners shall be notified so as to jointly resolve the matter on the basis of business relations.
  7. Determine a clear and timely due date for payment of product price and service remuneration.
  8. Take care and assist business partners to be able to operate its business simultaneously with the business of the Company, without taking unfair advantage thereof.
  9. Provide channels through which business partners can raise complaints on unfair treatment, whereby complaints can be directed to the chief executive officer, the head of the audit committee, and the head of the internal audit team.
  10. Put in place measures to keep confidential business partners’ confidential information to prevent use of information of business partners for the benefit of any party illegally. Business partner information will not be disclosed without the consent of the business partner or from an authorized representative of the Company, unless required by law.

Anti-corruption

The Company is keenly aware that bribery and corruption are serious threats which undermine economic and social development and hinder the Company’s sustainable growth. Accordingly, the Company has prepared and declared a separate anti-corruption and bribery policy to lay down the details on the policy and measures in relation to anti-corruption and bribery. The main policy are as follows.

“No director, executive, or employee of the Company shall tolerate any form of corruption, whether in respect of governmental authorities, private entities, or persons directly or indirectly involved, to acquire business of the Company or for its own benefits which is not ethically appropriate, namely, promising to give or accept any item, gift, entertainment, donation, or any other benefit from the person in business.”

The anti-corruption and bribery policy covers all business partners, customers, and interested persons of the Company both domestically and abroad. The Company holds an examination on its anti-corruption and bribery policy on an annual basis to assess the employees’ understanding of the observance of the policy, and conduct risk assessment in relation to the likelihood of corruption, so as to be able to determine an approach and plan to prevent risks in relation to corruption, as well as to monitor the results of such risk management. The Company also trains employees on the anti-corruption policy and practice of the Company at least once a year.

Treatment of the community, society, and the environment

The Company is always aware that it is a part of society, and thus has a responsibility towards society. Such responsibility includes the support of activities of the community to improve the quality of life and economic conditions of the community. The Company believes that to sustainably grow and survive in society, in addition to offering quality products and uphold professional integrity, the Company must also be responsible for the improvement of society at large. As such, it has laid down the following guidelines.

  1. Adhere to business commitments, taking into consideration the benefits and sustainability of the community, society, and the environment.
  2. Has a business policy which takes into consideration the community, society, and environment. Mandating that the operations relevant to the business of the Company shall not fall below the requirement by law and must comply with laws applicable to the real estate development business. Mandating that the business operation of the Company must be in compliance with environmental requirements and standards.
  3. Continuously raise awareness and communicate and educate employees on social and environmental responsibility to employees of all levels.
  4. Explore and become acquainted with the relevant rules and regulations to prevent operating business in a manner which impacts social or community way of life. Be respectful of the customs and traditions of each locality which the Company conducts business.
  5. Is able to adjust to changes and respond promptly and effectively to situations which impact the environment, the community, life, and property, as a result of Company operations. Cooperate fully with governmental authorities and relevant entities.
  6. Continuously organize activities which enhance the community and the environment to improve the quality of life of the community whether by itself or in collaboration with public and private sectors, and the community itself.
  7. Adhere to standard safety measure required by law.
  8. Support and promote cost effective use of resources. Improve the quality of life by addressing environmental problems. Consider that taking care of the environment is a responsibility shared by all.
  9. Develop projects which are able to enhance benefits to the community in a tangible manner. Monitor and conduct assessments in the long term.
2) Societal performance

Employees and labour

The Company considers employees to be the most valuable resources and is a key factor to the success of the Company. As such, the Company is committed to develop and foster a good corporate culture and working environment in addition to promoting teamwork, love, and unity within the Company. The Company has taken steps to ensure that the employee can grow with the Company in sustainable manner.

Employment

The Company follows guidelines in employee recruitment and hiring by considering the qualifications suitable to the job position without discrimination on the basis of diversity of the individual such as gender, nationality, religious, or political beliefs. The recruitment and selection process are fair and equal. Consideration is given to knowledge, capabilities, work experience, and attitude suitable to each job position.

In 2021, the Company hired 330 employees, whereby 120 are male and 210 are female. It also hired 3 persons with disabilities, accounting for 0.90 percent. The diversity can be summarized as follows.

Proportion of employee Amount (persons) Percent
By gender
Male 120 36.36
Female 210 63.63
By level
High level management 12 3.63
Mid-level management 37 11.21
Manager and up 101 30.60
Operational 146 44.24
Contract-based 34 10.30
By age
46 years and above 41 12.42
31- 45 years 221 66.96
Lower than 30 years 68 20.60

Employee development

The Company attaches important to continuously developing the skills, capabilities, and potential of employees in all levels in a manner which is appropriate to their positions to meet the business needs and to prepare for business growth. The Company is therefore committed to development personal in all professions and all levels, combing the development of skill, knowledge, and capability, as well as cultivate organizational culture and ethics simultaneously, so as to be in line with the Company Group’s business strategy and operational approach.

New employee orientation

New employees are required to undergo orientation before commencing work. Orientation allows the employees to understand the fundamentals of the Company, such as the structure, work systems, rules and regulations, important policies, business operation, and products and services of the Company. The different units are also introduced to the new employees for convenience in contact and coordination.

Annual employee development and training plan

The Company has a Training and Development Plan and Career Development Plan for executives and employees to grow in the organization and utilize their full potential in the performance of work, as well as create engagement with the organization, in order to meet the main strategies and goals of the Company in an effective and efficient manner. The approach to designing and developing the training curriculum is as follows.

  • Core Competency
  • Leadership Competency
  • Functional Competency

To allow employees and executives to discharge their functions in coherence with the corporate culture, with skill, and professional capabilities in respect of the work responsibilities, with leadership and capability in management, to prepare for simultaneous growth along with the Company.

Talent Management

The Company adopts an employee management policy with respect to those who are high performers and high potential, by providing career opportunities and ensuring the younger generation to become future drivers of the company.

Succession Planning

The Company has a succession planning policy with respect to key management positions in the Company Group with respect to positions of chief executive officer, deputy chief executive officer, and chief operating officer, under the supervision of the Company directors, executive board of directors, and the selection and remuneration committee, and the chief executive officer. There is a clear framework for the succession plan, from the analysis and assessment of the work force to be in line with business operation and strategies of the Company Group, a plan in identifying and developing, as well as determining the qualifications and capabilities which is suitable for each position, and determine an individual development plan. A selection, performance and potential assessment will be carried out to identify the successors, to prepare for handover and study of work. Continuous development and assessment will be conducted to ensure that such successor will be able to succeed as expected.

In the year 2021, the Company has conducted training for employees with the following details.

Employees trained 269 persons
Hours of training 1,301 hours
Average training hours (hour/person/year) 4.38 hours

Remuneration and welfare benefits

The Company attaches importance to payment of remuneration in the form of a salary. The salary structure is suitable for the labour market within the same business. The Company determines salary based on potential, responsibilities, and qualifications of each employee for each job position. The Company provides for an annual assessment for salary adjustment and bonuses in accordance with the annual performance assessment of the employee and the performance of the Company. There is a clear assessment system and performance index with respect to all employees so as to be fair.

Moreover, the Company has determined a suitable and fair welfare benefit for all employees in all levels, to take care of both short term and long-term employees as follows.

Accident insurance and health insurance For all employees in all levels. Employees will be entitled to benefits in accordance with the insurance policy the Company has determined for each job position.
Provident fund Employees may opt to join the Company’s provident fund after the probation period on a voluntary basis. The Company’s contributions will be in accordance with the employee’s years of service.
Annual health check-up To promote health and wellbeing of the employees. Employees with at least 1 year of service is eligible for the annual Company-organized health checkup.
Employee uniform The Company determines a uniform for employees every year on the basis of suitability for each type of work.
Monetary assistance

The Company provides monetary assistance to employees in various cases, namely,

  • For marriage,
  • To show condolences I case a family member of the employee passes away
Employee gift baskets Employees that are in-patients at the hospital or those who have given birth will receive gift baskets.
Employee birthdays The Company allows an additional day off for employees on their birthdays. The employee is able to exercise such right within their birth month.
Paternity leave Make employees whose wives have given birth are entitled to 15 days of paternity leave. The leave must be within 90 days of the day of giving birth. The leave may be in a consecutive or non-consecutive manner.
Leave for marriage Employees with at least 1 year of service may apply for leave for marriage purposes for not exceeding 5 days with pay.
Leve for funeral Employees may apply for leave to attend the funeral of their legal parent, spouse, and child for 5 days each without pay.
Employee child tuition assistance A child of an employee who qualifies as per the Company’s requirements is entitled to scholarship from the Company twice a year, for 5,000 THB each per child. The maximum number of children eligible is 2 children per 1 employee.
Annual party The Company holds an annual party to foster relations and to allow employees to relax from work.
Fitness center The Company provides a fitness center for employees to exercise before and after work.

Moreover, the Company has established a welfare committee by employee vote. The welfare committee represents employees in voicing opinions on welfare and wellbeing policies of the Company.

Safety, occupational health, and the work environment

The Company determines a policy on occupational safety, health, and environment, and monitors strict compliance with such policy both in the headquarters and in project offices in coherence with laws relevant to safety. The Company holds activities and communicates through the Company’s various channels, as well as trains employees to create awareness to all employees on the matter.

For what concerns the headquarters, the Company regulates workplace safety, determines a repair plan of the building, office equipment, electricity and lighting system, and fire pump system on an annual basis. The working environment is tidy and clean for good quality of work. Various sports activities are held to promote the health and wellbeing of employees, and employees are trained in safety, fire drills, and fire evacuations.

For what concerns the construction projects, the Company requires safety reports, inspection, training, recommendations, and addressing problems which might cause harm to the Company and contractors, to control the various aspects of safety while construction is ongoing. It also requires cleanliness and sanitary conditions in the projects and in nearby communities. Those performing work must exercise great care in all work processes. Safety gear must be worn, due care and expertise must be exercised in works which pose a risk of danger, to prevent harm to the worker and nearby communities. All construction projects are required to put in place a sign showing the safety statistics in front of the project to provide timely and continuous safety reports. This will foster trust of the safety of the construction works both to the worker and the nearby community.

Safety-related statistics of 2021

Safety information unit No. of employees No. of contractors Third party
Occurrence of accident Time 1 none none
Work-related injury Person none none none
Leave from work-related injury Day none none none
Persons on leave from work-related injury Person none none none
Work-related deaths Person none none none

Business Continuity Plan (BCP)

The Company has prepared a business continuity plan as a guideline for situations of crisis or emergencies whether caused by natural disasters, accidents, or malicious actions against the Company Group without allowing such crisis or emergency situations to result in the Company Group having to stop its operations or to not be able to provide continuous services.

The business continuity plan of the Company is used to address situations of crisis or accidents in the Company’s office area or within the Company group as can be summarized below.

Event of crisis Impact
Event of crisis Buildings/main work location Important materials and equipment Information technology and important information Main personnel Business partners/ service providers/interested persons
Fires
Floods
Pandemics

Employee relations

The Company Group has established guidelines for fostering relations and retaining employees for simultaneous growth with the Company. In 2021, the Company conducted a corporate engagement survey for 2021 as a way to gain insights into the opinions and needs of employees towards the Company. The Company will analyze the survey results and create processes within the Company to appropriately respond to the needs of the employees. The overall assessment results of the organization's engagement accounted for 78.3%

In 2021, the Company’s turnover rate is as follows.

Employees resigned Amount (persons) percentage
Number of employees who resigned 40 12.94
By level
High level management 1 2.5
Mid-level management 4 10
Manager and up 13 32.5
Operational 10 25
Contractors 12 30
By duration of service
Over 5 years 1 2.5
3-5 years 3 7.5
1-3 years 15 37.5

Customers

The Company Group aims to create and develop real estate projects to deliver products and services that are diverse and suitable for customers to the greatest extent possible. The Company believes that customers are key in our creation and development of good residences which are able to fulfill all the needs of the residents, under the slogan "YOUR BEST CHOICE - Delivering the best residents to customers in various aspects as follows.

  • PRIME LOCATION: Attention in choosing a potential location, close to major transportation sources and surrounded by important facilities and fundamental utilities.
  • FULL FACILITIES: Allocation of common areas in a diverse manner, with a full range of amenities to meet the needs of the residents’ lifestyles.
  • BRAND IDENTITY: Unique project design, design of functions and usable space to support a variety of lifestyles with state-of-the-art living technology emphasizing on comfort and safety in living.
  • CUSTOMER ENGAGEMENT: Providing advice and coordination in all aspects to customers with after sales services which continuously takes care of customers.

Moreover, in 2021, the Company group focused on project development to keep pace with the changes in today's society under the concept "ASW The Next Paradigm" to develop quality projects and deliver happiness to customers.

Facilities for New Lifestyle

Due to the Covid-19 situation, the behavior of residents has changed. The word "home" is more important than before in various dimensions, as people spend more time indoors whether for relaxation, working from home, and for recreational activities in accordance with each individual’s lifestyles of each person. For this reason, the Company Group attaches importance to all common areas, such as co-working spaces in various styles to avoid monotony, spacious libraries for studying from home, meeting rooms to accommodate online meetings, living lounges for working from home, and many other facilities that have been created for relaxation and various activities such as karaoke rooms, private theater rooms, and gym studios. All the facilities make houses and condominiums of the Company Group meets the needs for every happiness of every customer.

Gym Studio
Swimming Pool
Living Lounge

Health Concern

As health is a top concern in the present era, the Company Group has expanded the health care of its customers with a new common area called the "Health Station" with a complete set of equipment for initial health checkups for residents, such as

  • Tytocare: an innovation for initial health checkup by doctors to examine patients' symptoms online in real time, reducing the need for travel and close contact.
  • Body Mass Index (BMI) calculator
  • Automated External Defibrillator (AED)
  • Automatic blood pressure monitor

The Health Station is considered a new facility in the real estate industry. It has been piloted in several projects of the Company Group, such as Atmoz Chaengwattana, Atmoz Ratchada - Huaikwang, Kave Town Space and Kave Town Shift.

Innovation for Living

The Company Group searches for innovations and technologies that residents desire for its suitability and perfection, such as installation of a Bluetooth Sound System for watching movies and listening to music in the room, LED Lighting Motion Sensor system with motion sensors that automatically turn on / turn off the lights under the bed for convenience and safety at night. New facilities are also created in the projects, such as E-Sports Rooms and VR Rooms for customers who are interested in playing games as well as the development of various online applications for the convenience of users.

Strengthen Sustainability

In addition to the development of real estate projects, the Company Group is also committed to social development and is responsible for the environment for sustainable happiness through many projects such as

  • Organizing waste separation and hazardous waste management training for juristic persons and residents
  • Provide spaces for putting garbage bins and clearly designate with waste separation markings to facilitate and encourage participation in preserving the environment.
  • Creating electric vehicle rental service points via the HAUP application on smartphones available 24 hours a day for customers in the project.

In order to take care and facilitate customers in purchasing products and receiving services, the Company Group has developed various innovations to provide agility for customers as follows.

FIN PLUS

The Company Group has developed an application as a channel for communication between financial institutions and customers to assist in the preliminary assessment of the potential of customers to purchase a project of the Company group. It assists in estimating the price range of the units which is suitable for the customers’ ability to make payment. Overall, the process of selecting an apartment which suits the customer is more convenient and expeditious.

AssetWise Club - Community for the Company’s customers

The Company has established a network for customer care called “AssetWise Club” for sharing activities, information, news, privileges, and benefits for customers. In 2021, various activities were held, and privileges were given to customers as follows:

  • AssetWise Club x Rabbit Card which comes with special privileges such as discounts on the purchase of goods, service fee discounts, restaurant discounts, and hotel discounts.
  • Prevention and control of the Covid-19 pandemic, by screening and testing for the virus and disinfecting the project for residents.
  • Wonderful Sunday, where various activities are organized for residents on Sundays, such as cooking workshops, planting trees or small gardens, and oil massage therapy.
  • The “Aroi Around” activity which provides restaurant recommendations and special discounts for various restaurants.
  • Special activities on various occasions, such as Loy Kratong, Songkran, and New Year’s activities.
  • The “One drop to prolong a life” inviting customers to donate blood.
  • Collaborate with Bangkok Smile Dental Clinic to provide dental services via mobile dental cars at the project of the residents.
  • Other special discounts with partners, such as delivery fee discounts and hotel discounts.

Channel for customers to provide opinions, report complaints, or make suggestions

The Company provides the opportunity for customers to express their opinions, report a complaint, or make recommendations to the Company whereby the Company will analyze the comments or recommendations to develop and improve products and services to achieve maximum customer satisfaction.

Channel to provide opinions, report complaints, or make suggestions

  • Call Center: 02-168-0000
  • www.assetwise.co.th
  • Facebook: AssetWise
  • E-Mail: contactcenter@assetwise.co.th

In 2021, the Company received 878 complaints from customers through the available channels, with details of important matters as follows.

  • Employee-related complaints: 252 cases, comprising 250 cases of AssetWise Public Company Limited employees and 2 cases concerning employees from the Company Group.
  • Project related complaints: 622 cases, comprising 610 cases of complaints about the project, both in respect of the unit and the surrounding area of the project, such as repair notifications, delayed repairs, parking problems and problems related to the community surrounding the project, and 12 cases of complaints about advertisement billboards.
  • Mingle Mall / Mingle Market complaints: 4 cases, comprising 3 cases from noise levels from construction and music, and 1 complaint about a store within Mingle Mall/Market.

After receiving complaints from customers, the Company has established the following procedures to address the complaints.

  • The unit which received the complaint coordinated with relevant parties to contact customers within 1 hours.
  • Follow up on the conclusion of complaint resolution from related parties after receiving complaints for the purpose of recording and following-up on the results of complaint resolution in accordance with the respective remedial plan.
  • After resolution of the complaint, the unit that notified the evidence of correction to the unit which received the initial complaint to close the complaint in accordance with the period confirmed with the complainant.
  • Incorporate the complaints into a Q&A to communicate in the event such incident arises again in the future.

Customer satisfaction survey

In 2021, the Company conducted an overall customer satisfaction survey of the projects in the Company Group The results are as follows.

Satisfaction First time Second time
Trees and green space are in good condition, and aesthetically-pleasing. 88.33% 90.07%
The common areas within the project are clean and tidy. 84.46% 87.01%
Modern functions of use. 85.44% 85.80%
Design meets the current lifestyle. 82.30% 83.21%
Satisfaction towards use. 82.17% 83.10%
Quality of materials and installation of various equipment in the unit. 73.77% 75.46%
Quality of unit construction work. 70.26% 72.70%
Satisfaction in the juristic persons’ services 80.48% 81.28%
Satisfaction in the building mechanics’ services 80.50% 81.43%
Satisfaction in security guards’ services. 85.75% 85.51%
Satisfaction in general workers’ services. 85.49% 86.36%
Satisfaction in after sales services. 73.45% 75.29%
Suitable time in solving problems. 72.93% 74.79%
Quality of repair works and problem resolution. 72.53% 75.42%
Announcement of news, rules and regulations within the project are clear and interesting. 80.06% 81.70%
Announcements, news, and events from the Assetwise Club are interesting. 80.04% 81.83%
Satisfaction with past activities. 76.60% 78.98%
Average overall satisfaction score 79.68% 81.17%

Moreover, the average Net Promotor Score for 2021 is 21.06.

The community and society

The Company Group conducts business under principles of responsibility to society and communities. It supports projects or activities that benefits the community and society along with the following business operations.

Taking care of communities surrounding the Company’s projects

Prior to the development of every project, the Company Group has taken account in the impact to the nearby communities by following the guidelines in the EIA report, from analyzing the impact caused by construction to the nearby community by conducting a survey to gather opinions and needs of the community, planning to prevent the potential impact that may occur from the community, setting guidelines in remedying the damage caused to the community, in addition to improving and promoting the nearby community’s quality of life.

In 2021, the Company Group did not receive complaints from the community regarding societal and environmental impacts caused by project construction.

Being involved in community and societal development

In 2021, the Company Group organized the following projects or activities to assist and develop the community and society.

ASW Delivery Project

COVID-19 pandemic has impacted general population and businesses in the way that they have been unable to continue normal lifestyles or run their operations as normal especially restaurant business as consumers were not allowed to dine in due to the control measures. Therefore, AssetWise, as a real estate developer of Mingle Mall, designed a platform to provide delivery services to residents of Kave Town Space and Kave Town Shift. The intention was to serve our customers without charge sponsored by AssetWise as well as offering more distribution channels and generating income for restaurants while the risk from COVID-19 infection was minimized.

What makes ASW Delivery different from other delivery platforms is how it accommodates customers for each purchase as customers can order from multiple restaurants at a time which helps address needs of customers directly. The service has been available from June 2021 until the present with 21 restaurants participated. During June-December 2021, 100% of participating restaurants remained with the platform of the project.

The Company, in conjunction with Bhumibol Hospital, organized blood donation activities by having employees, business parters, allies, and people who live nearby the Company’s head office to participate in donating blood to pass on life onto a fellow human. In 2021, the Company held such activity for 4 times with a total of 437 blood donors and 130,950 CC of donated blood.

The Company organized a seminar to share knowledge to students, collegians, and the general public on the opportunity of digital assets in the real estate industry by Mr. Kromchet Vipanpong, the CEO of the company and a guest speaker with expertise in digital assets and cryptocurrency, Mr. Ake Atchawaranon, the CEO of “HAULIO (THAILAND) CO., LTD.” along with representatives of the new generation who are the customers of the Company that have experience in using cryptocurrency.

The Company has organized “AssetWise Fullness Sharing” activities to help those who are suffering from the Covid-19 pandemic in various areas, both in the area near the head office and the project office of the Company. The Company provides coupons to exchange food for free from participating stores. In addition, the Company set up food pantries to share fresh and dry food with the general public.

The Company established plastic waste separation points within the Company's office and cleaned plastic waste to deliver to various agencies for recycling as follows:

  • Delivered 54.5 kgs of plastic waste to Corsair in turning it into bio-oil using the recycling process
  • Delivered 6.45 kgs of plastic waste to N15 Technology Co., Ltd. to make mixed fuel.

The Company organized an acution of employee beloved belongings to use the proceeds from the auction and from donations from alliances and business partners for the Volunteer Sharing Happiness project. The project contributions went to sharing happiness to students of Baan Pu Bon school in Baan Rai District, Uthai-Thani province in the following school development.

  • Installing solar cell system for connection to the well pump
  • Installing mosquito nets, and rubber tiles in the kindergarten room
  • Improving the canteen, installing steel fences, constructing kitchen, giving away kitchen counters, install water filter machines.
  • Build a basin for brushing teeth, and paint the basin.
  • Paint the bathroom, change the hose.
  • Repaint the classroom
  • Organize a library from a mountainous pile of books.
  • Improve the computer room, check computer equipment.
  • Install a transmitter.
  • And donate rice and dried food products to the school

The Company organized Sharing Kindness to Society activities to pass on goods to the community and society as follows.

Donated 21 kgs of unused Employee carton boxes to SCGP to be recycled into beds for field hospitals receiving Covid-19 patients.


Share masks, medicine boxes, PPE kits, water filters, water coolers and dry food for the establishment of a Covid-19 patient care center in the Rangsit-Prachatipat community.


Share organic vegetables from vegetable planting activities of employees to personnel of Bang Khen District Office, Bhumibol Hospital personnel, and CGH Hospital for use in cooking.


Deliver exercise equipment to the police officers of Bang Khen Police Station to support exercise for health and fitness of the community around the police station.


Share decommissioned computer equipment to the Association of Persons with Physical Disability International to be recycled and sold to generate income for people with disabilities and their families or forwarded to schools for persons with disabilities that require the equipment for professional training.


Share dry food and fruit to the Bang Khen Waiting Center which forwards Covid-19 patients to Bangkhen Hospital, Thammasat University Hospital, and the Zen Dai center.


Donate money for the construction of King Mongkut's Hospital in the amount of 300,000 THB to support the purchase of medical equipment.


Deliver food to medical personnel to the Thammasat University Field Hospital and Bhumibol Hospital in the Bonkai community.


Donate survival kits to the elderly at the Suan Sai community, Phra Khanong District, to share food and essential items and help reduce family expenses.


Donate money to install the main distribution board system at the 9-storey meditation building, Saphan Temple, Phra Khanong District.


Deliver alcohol hand sanitizer gel to the following communities and government agencies to help prevent the spread of the Covid-19 virus.

  • Pathum Thani Provincial Administrative Organization
  • the Bon Kai community
  • the Pahon Yothin 52 community
  • the railway slum community
  • the Rama VI community
  • the Suan Sai, Sukhumvit 50 community
  • Bhumipol Hospital
  • Zendai Center
  • Personnel of the environment department, Bang Khen District Office
  • the Suer Yai Uthit community
  • Bang Khen District Office
  • Bang Khen Police Office
  • The Praisanee Niwate community