Corporate Governance and Business Ethics
Goals and Performance Highlights
Goals
Performance in 2025
Challenges and Opportunities
As an organization dedicated to promoting health and human well-being, the Company recognizes that Good Corporate Governance and adherence to Business Ethics form a non-negotiable foundation for conducting business sustainably.
Our Mission is to provide healthcare solutions for prevention and treatment that are best-in-class and value for money by professional team and advanced technology. Achieving this Mission with quality and long-term sustainability requires a strong and transparent governance structure.
The Company has therefore established Corporate Governance and Business Ethics policies in alignment with the Corporate Governance Code (CG Code 2017) issued by The Securities and Exchange Commission (SEC). These policies have been approved by the Board of Directors and are reviewed at least annually to ensure consistency with applicable regulations and international standards.
Management Approach and Value Creation
Praram 9 Hospital Public Company Limited (“the Company”) was registered as a public limited company on 29 March 2018 and listed its ordinary shares on the Stock Exchange of Thailand on 30 October 2018, under the ticker symbol “PR9”
Recognizing the importance of compliance with the principles of good corporate governance, the Board of Directors has, therefore, set a policy to continuously promote better corporate governance within the organization with a belief that it is a significant factor promoting the Company’s effective business operations.
Good corporate governance is a tool to demonstrate the effectiveness, transparency, fairness and accountability of management systems, which will enhance confidence of the Company’s shareholders, investors and all stakeholders that enables long-term growth and sustainable value for the business.
Since the conversion into Praram 9 Hospital Public Company Limited, the Board of Directors has developed a written policy on corporate ethics and good corporate governance of the Company (which does not have any subsidiary and affiliates). The main content of the policy complies with the laws, CG Code of the Securities and Exchange Commission’s, CG Principles of the Stock Exchange of Thailand, the criteria set by the Institute of Directors (IOD), ASEAN Corporate Governance Scorecard (ASEAN CG Scorecard).
The Company has also prepared for complying with the Corporate Governance Code for Listed Companies of the 2025 Corporate Governance Report of Thai Listed Companies (CGR) to incorporate all sustainability issues with an emphasis on disclosing environmental, social and corporate governance (ESG) data in order to cover all key factors and support changes in business environment requiring making adjustments to the Company’s goals, strategies and operations.
The company has a clearly defined written corporate governance policy, code of conduct, and anti-corruption policy. In 2025, the company communicated these policies and code of conduct and conducted training to raise awareness. This training took two forms: 1) training for new employees and managers during employee orientation, and 2) annual review training for employees and managers via the internal intranet. This training is mandatory for all participants. The information was also disseminated to directors and external stakeholders, including service recipients, shareholders, customers, business partners, etc., in document form and via the website www.praram9.com under the Investor Relations section. Furthermore, a knowledge test was administered after the training, requiring participants to pass with a passing score and sign a written acknowledgment of their commitment to implementing the policies. The company subsequently monitors compliance; for example, at quarterly audit committee meetings, management is required to report on the summary of reported ethical violations and corruption and the company's operational procedures. This report is then subsequently submitted to the Board of Directors. Furthermore, the company has developed and published a Supplier Code of Conduct and Guideline to guide responsible business practices throughout the supply chain (please see www.praram9.com, Investor Relations section for more details). Due to the company's strong emphasis on and strict adherence to these guidelines, the company recorded no violations of its corporate governance and code of conduct last year.
In 2025, the Company uplifted its corporate governance as follows:
- The Board of Directors reviewed the annual Corporate Governance Policy and determined that the Company should communicate signed to acknowledge receipt and monitor compliance with the Corporate Governance Policy and the Anti-Corruption Policy of the Company.
- Focusing on expanding a transparent business network to clients, suppliers, business partners as well as persons and/or related agencies and encouraging them to join in tackling all forms of corruption and join the CAC Change Agent.
- Two of our business partners, ANC International (Thailand) Co., Ltd. and Master Laundry Co., Ltd., have submitted a declaration of intent to the Thai Private Sector Anti-Corruption Alliance (Thai CAC) to join the alliance.
The Company has designed its organizational structure and governance mechanisms in accordance with Good Corporate Governance principles, with a clear allocation of roles and responsibilities between the Board of Directors and management. The roles of Chairman of the Board and Chief Executive Officer are held by separate individuals to ensure an appropriate balance of authority and effective checks and balances.
The Company upholds three key principles to promote governance excellence that is directly aligned with its Mission:
Stakeholders Directly Impacted
Employees
Shareholders and Investors
Customers
Suppliers
Communities and Society
