Page 71 - KEX EXPRESS (THAILAND) PUBLIC COMPANY LIMITED : ANNUAL REPORT 2024

KEX EXPRESS (THAILAND) PUBLIC COMPANY LIMITED 71

Risk Management and Internal Control

Risk Management Committee Report Operational Highlights and Financial Summary

Dear Shareholders,
The Risk Management Committee (RMC) consists of four qualified executive and non-executive members, with
extensive skills, knowledge and experience in the industry. The Risk Management & Compliance Manager serves
as the secretary to the RMC. The Committee held 2 meetings during the year with the following attendance record;

Member Position *Attend / Total Meeting
1. Mr. Kamthorn Tatiyakavee* Chairman 1/1
2. Ms. Bee Ti Ooi* Member 1/1
3. Mr. Hoi Ching* Member 1/1 Key Milestones
4. Mr. Kwan Wai Leon Chow* Member 1/1
5. Mr. Kin Hang Ng** Chairman 1/1
6. Mr. Chalush Chinthammit*** Member 1/1
7. Mr. Chun Sang Choi*** Member 1/1

Remark: * Mr. Kamthorn Tatiyakavee was appointed as Chairman of Risk Management and Ms. Bee Ti Ooi, Mr. Hoi Ching Yeung and Mr. Kwan Wai Business Overview
Leon Chow were appointed as Members of Risk Management Committee on November 8, 2024.
** Mr. Kin Hang Ng resigned from his position as Chairman of the Risk Management Committee on November 8, 2024.
*** Mr. Chalush Chinthammit and Mr. Chun Sang Choi resigned from their positions as the Company’s director on May 10, 2024.

In 2024, the Company encountered substantial internal To augment the efficacy of corporate risk assessment,
and external challenges. These included alterations to the Risk Management Committee has mandated the
the shareholder structure, a strategic reduction in active participation of senior management in the risk
workforce, and significant regulatory modifications management process for the ensuing fiscal year,

promulgated by the Office of the Consumer Protection concurrent with the rigorous augmentation of
Board (OCPB) pertaining to Cash on Delivery (COD). operational risk management activities. Governance Structure and Practices
Consequently, the Company was compelled to

recalibrate its operational procedures, particularly The Company acknowledges that effective risk

concerning clientele engaged with commercial management constitutes a fundamental pillar of sound
platforms, and to institute more formalized risk corporate governance, and that the cultivation of a

management protocols. robust risk and compliance culture throughout the
organization is indispensable for sustained long-term

Notwithstanding these exigencies, the Company business viability.
maintained a steadfast commitment to a risk-based
operational methodology. Furthermore, the Risk Financial Performance
Management Committee initiated a comprehensive
review of the Company’s risk management frameworks
for the fiscal year 2025, in response to prevailing
challenges and the evolving business landscape.
This review is concentrated on the refinement of core
process adjustments, the fortification of operational On behalf of the Chairman of
tool controls, the enhancement of systems, and the the Risk Management Committee
mitigation of IT risks. Mr. Kamthorn Tatiyakavee Sustainable Development