Page 73 - KEX EXPRESS (THAILAND) PUBLIC COMPANY LIMITED : ANNUAL REPORT 2024

KEX EXPRESS (THAILAND) PUBLIC COMPANY LIMITED 73

risk management plan, including efficiency and 2. Risk Assessment
effectiveness of the Company’s risk management, and All identified risks shall be evaluated by estimating their
provides suggestions for improvement for more efficient likelihood and impact, including KRI results, which are
risk management. developed for monitoring significant risks. Operational Highlights and Financial Summary

The Risk Management Team 3. Risk Response
The Risk Management Team is responsible for Proper plans depending on the risk level, and the cost
developing the risk management framework and and benefits of each plan, are executed as part of the

policy, ensuring effectiveness of risk management risk response.
process, and monitoring risks that have potential to
affect the Company’s mission and vision, objectives, 4. Risk Monitoring
strategies, goals, and business operation processes. The Risk Management Team shall monitor risks and
The team reports to the Risk Management Committee report to the Risk Management Committee, and the
and proposes suggestions to improve related plans Board of Directors on a quarterly basis to ensure the Key Milestones
when circumstances and the business context change. Company is managing risks properly.

Risk Owners Review and Revision
All members of the management and employees are risk KEX has continuously monitored and reviewed risks and

owners who must be responsible for following risk performance of the Company. The changes that may

management framework, policy, and process. Risk substantially affect strategies and business objectives Business Overview
owners shall determine risk mitigation, prepare are identified and assessed to ensure if revision or
additional plans, and monitor to keep the risks within additional control is required. The Company also
the Company’s risk appetite. conducts regular reviews and revision to ensure
Corporate Risk Management is adequate, effective, and
Strategy & Objective-setting efficient.

KEX has integrated enterprise risk management, Information, Communication and Reporting
strategy, and objective-setting in the strategic planning KEX has developed a reliable reporting process, and a
process. The objectives have been established and simple channel for communication so management and
aligned with the Company’s strategies and risk stakeholders can be updated with risk assessments, and Governance Structure and Practices
appetite by taking into account the internal and important operational issues on time. The Company
external contexts of the business, including evaluating emphasizes on both top-down and bottom-up
alternative strategies and their potential impact on the communication to ensure all necessary information is
Company’s risk profile. reported and handled effectively and in timely manner.

Risk Management Process

KEX’s Risk Management framework covers risks at both
the corporate and department levels. The framework Financial Performance
must be implemented in accordance with the following
processes

1. Risk Identification
The Company identifies risks that have the potential to
affect the Company. The root causes and potential
effects of each risk shall be analyzed, with all details
updated regularly. Sustainable Development