Conflict of Interest

Good Corporate Governance

 

The Board of STA Directors has established a policy for preventing Conflicts of interests on the basis that any decision-making on business transactions must be made only for the best interest of STA, and that any act which may cause a Conflict of Interest should be avoided. It is required that a person involved in or having a Conflict of Interest in any agenda item to be discusses in a meeting shall report the relationship or Conflict of Interest in such agenda item to STA, as well as abstain from voting and shall have no authority to grant approval for such transaction.

The management policy for Conflict of Interest as following details;

  1. Control the Company to comply with the principle, method, and disclosure for the information of connected transaction that the law and corporate governance division have strictly specified and complied with the company’s rule.
  2. Avoid to do any connected transaction to relate with oneself, individual or juristic person that may cause the Conflict of Interest with the Company.
  3. In the event that the connected transaction shall not be taken in accordance with the Arm’s Length Basis under the approved principle by the Board of STA Directors or the category and size of connected transaction, which are not in the authority of consideration by management division, have to pass the inspection and give an opinion from Audit Committee before presentation to get the approval from the Board of STA Directors or shareholders.
  4. In the event to do any connected transaction if necessary, such connected transaction shall be in line with the Arm’s Length Basis under the approved principle by the Board of STA Directors with transparency and fair as same as such connected transaction shall be conducted with the outsider and considered for the utmost interest of the Company.
  5. The stakeholder does not involve in the consideration the connected transaction that they do not have the Conflict of Interest.