PSP achieves 5-Star CG Rating, Reinforcing Corporate Governance Standards and Strengthening Investor Confidence Toward Sustainable Growth

P.S.P. Specialties Public Company Limited (PSP), the leading lubricant solutions partner, has received a 5-star, or “Excellent,” rating in the 2025 Corporate Governance Report (CGR) from the Thai Institute of Directors Association (IOD), supported by the Stock Exchange of Thailand (SET). This marks an improvement from the previous year, when the company received a 4-star, or “Very Good,” rating. The recognition reflects PSP’s commitment to continuously enhancing its corporate governance practices with transparency, accountability, and a strong focus on all stakeholders. The company remains dedicated to advancing its operations under robust governance principles while driving sustainable business growth.

Mr. Sakesan Krongphanich, Deputy CEO of P.S.P. Specialties Public Company Limited (PSP), said that the company’s upgrade from a 4-star, or “Very Good,” rating last year to a 5-star, or “Excellent,” rating in 2025 stems from more comprehensive disclosure of 2024 sustainability information across all dimensions. It also reflects improvements in corporate governance practices and disclosures to align with the Corporate Governance Code (CG Code) for listed companies, as well as the development of various operational practices to better meet the assessment criteria of the Thai Institute of Directors Association (IOD).

In the past year, PSP has continued to prioritize improving its operations under strong corporate governance principles. This includes undergoing assessments based on the IOD’s CGR criteria and enhancing the disclosure format in the annual report as well as in the 56-1 One Report to more fully reflect the company’s operations,” Mr. Sakesan explained.

Mr. Sakesan added that the company’s board of directors plays an important oversight role, such as disclosing information on complaints related to fraud and legal non-compliance, participating in strategic plan reviews and performance monitoring, and providing details on each director’s qualifications to ensure that board recruitment aligns with the company’s business direction.

Regarding the risk management system, PSP has advanced its Business Continuity Plan (BCP) into a Business Continuity Management (BCM) system in accordance with ISO 22301:2019 requirements to enhance its readiness to handle events that may affect operations.

PSP also places importance on communication with stakeholders by distributing the notice of the shareholders’ meeting and related documents to shareholders at least 28 days in advance. This allows shareholders sufficient time to review the meeting agenda and supporting information. Regarding personal data protection, the company has appointed a working group to oversee, review, and monitor operations to ensure legal compliance, and has organized training sessions to provide knowledge about the PDPA and personal data protection practices. At the same time, the company promotes cybersecurity awareness by offering training on the safe use of information technology, helping to build a stronger sense of security awareness among employees across the organization.

Over the past year, PSP has advanced its corporate governance practices by providing training on good corporate governance, business ethics, conflict-of-interest prevention, the use of inside information, anti-corruption measures, and whistleblowing channels. The company also required employees to complete an ethics questionnaire to strengthen awareness of ethical conduct in the workplace and to use the findings to further improve the effectiveness of its ethics policies.

The 2025 corporate governance assessment was conducted by the Thai Institute of Directors Association (IOD), covering a total of 844 listed companies, comprising 626 companies on the SET and 219 on the MAI. Receiving a five-star corporate governance rating this year has strengthened the confidence of shareholders, investors, and stakeholders in PSP. The company aims to maintain its standards in operations and disclosure, while continuing to develop its corporate governance system in line with international assessment criteria.