Honesty
Vichitbhan Palmoil always recognizes the importance of its vision "Unstoppable Development for Versatile Sustainability" to ensure honesty in operating the business considered as the company's fundamental moral, as part of the intention to boost confidence in the organization among shareholders, clients, partners and staff members. The company also aims to promote its business honesty and transparency to enable the company to generate sustainable achievement.

Roles and Responsibilities
Everyone in Vichitbhan Palmoil is assigned to handle important tasks differently. Without doubt, handling the assigned tasks with full responsibility and competency will result in highly desirable quality, ensuring that all tasks are always accomplished fully and with accuracy.

Creativity
Vichitbhan Palmoil is always committed to seeking new opportunities and solutions in solving problems while encouraging the use of creativity based on self-experience, technology and other productive methods to overcome all problems and obstacles.

Relationship
The company strives to promote unity among employees and executives as well as foster a concrete relationship with government organizations, business firms, clients and surrounding communities aiming to create the most desirable benefits for all parties.

Quality
Quality is considered as one of the most important factors that all business firms should take into account. Therefore, Vichitbhan Palmoil has consistently developed the quality of its products and services since the company's business began. For us, the word "quality" doesn't refer only to the quality of our products or services, but it also includes the quality of human resources and production technology that provide us with the reputation of our excellent quality products and services.

Social Responsibility
Vichitbhan Palmoil offers concrete support to the responsibilities of individuals. Everyone in the organization is required to behave and practice in accordance with the requirements under the law, emphasizing business morals, tradition and value dedicated to the love of nation, religion and His Majesty the King.

This Business Ethics shall come into force for the Board of Directors, executives, employees, affiliates, partners and other businesses authorized by Vichitbhan Palmoil Public Company Limited. In this Business Ethics, "Executive" is deemed as an authorized executive with the definition and meaning under the Securities and Exchange Act, where "Employee" inclusively means a full-time employee, part-time employee, contract employee and outsourced employee. This Business Ethics is divided into various policies as follows:

1. Conflict of Interest Policy
   

   The employee shall not take any action contrary to the interests or benefits of the company or proceed with any action to cause loss of benefit or lower-than-expected benefit to the company.

   In case that the employee holds shares in other companies or businesses deemed as the company's competitors, the employee shall manage the shares effectively, not allowing the shares to cause any undesirable action or omission on the part of the employee's duties or the company's operations.

   The employee shall not use his working position, information or documents belonging to the company, client, partner, creditor or business-related person to seek benefit for the sake of oneself, family or any other person that may cause damage or loss of benefit to the company.

2. Property, Information and Confidentiality Management Policy
   • Use of Properties and Resources
     

     Property and resources of Vichitbhan Palmoil have been allocated for the purpose of business operations, where all employees are required to be responsible for the use of such properties and resources varying in knowledge, technology, information, patent and concession for the company's businesses only. Any wrongful or illegal use of the company's properties and resources will be deemed as a violation.

   • Use of Information Technology Resources
     

     Information technology resources, inclusively referred to as emails, computers, software, the Internet and access, intranet network, facsimiles, telephones, cellphones and other mobile devices and voicemail equipment, are deemed as the company's property and reserved for the use of employees and other authorized partners with regard to the business of the company.

     Any employee who is authorized to use Vichitbhan Palmoil's information technology resources shall never disclose his/her password to any third party. If the employee has allowed any third party to use his/her password or other office equipment under his/her authorization, the employee shall be fully responsible for any action taken by such third party.

     Vichitbhan Palmoil shall reserve the right to monitor the use of the company's information technology resources under the authorization specified by the law. The company is authorized to proceed with disciplinary action or the prohibition of using the company's information technology resources if such use is found to be unlawful. The employee shall agree with the monitoring of the use of such information technology resources.

   • Permission for Using Computer Software
     

     All employees of Vichitbhan Palmoil shall fully understand terms and conditions of the permission for the use of computer software as well as the policy of the use and duplication of computer software. The company is authorized to use a variety of different forms of computer software, where certain agreements in such software have specified a limitation on the number of users and the duplication of the software.

     The purchase of computer software shall be approved in accordance with the company's processes and procedures in the implementation of the cost. The installation of computer software shall be conducted by the official of the information technology agency or implemented in accordance with the required procedures and resources approved by the information technology agency only. If further information on this topic is required, it is suggested that contact be made directly with the information technology agency.

   • Confidentiality of Information
     

     All employees of Vichitbhan Palmoil are required to be responsible for maintaining confidentiality of the company as well as confidentiality of the information they have access to in their position as an employee, and that of clients, manufacturers and shareholders. Even after termination of employment, a former employee of Vichitbhan Palmoil is still deemed to have both legal and contractual obligations to maintain such confidentiality. The use or disclosure of confidentiality for personal benefit is deemed as violation.

3. Gift Acceptance and Presentation Policy
   • The employee shall not request or agree to receive any payment or benefit from anyone involved in the company's business.
   • The employee is allowed to accept or present a gift in accordance with conventional conducts, where such acceptance or presentation shall not have any impact on the business decision of the giver and receiver. The gift acceptance and presentation shall not have any conflict with the company's policy and be appropriate for certain occasions and festivals. Meanwhile, gifts accepted or presented shall not be those that are abnormally expensive or of extraordinary high value.
   • If the employee shall receive a gift with extraordinarily high value on any occasion or festival from anyone involved in the company's business, such employee is required to report the case to the respective manager or supervisor.
4. Securities Trading and Use of Internal Information Policy
   • The Board of Directors and executives are responsible for the report of their holding of securities complying with the requirements of the Stock Exchange of Thailand and the Securities Exchange Commission.
   • Vichitbhan Palmoil and its affiliates listed on the Stock Exchange of Thailand shall strictly comply with the law corresponding to the use of internal information by proceeding with fairness and equality for all shareholders, as part of the goal to prevent any illegal action of employees from all levels as well as their family members who have acknowledged the exposed information or non-publicized information. The company has therefore prevented such groups of people from trading the shares or persuading others to trade the shares belonging to the company or its affiliates listed on the Stock Exchange of Thailand, whether the said actions are conducted by themselves or other agents particularly during the possession period of such non-publicized information. The company and the Stock Exchange of Thailand shall consider that such trading of securities is made to create an advantageous opportunity for certain groups of people.
   • The use of "internal information" for trading the securities or persuading anyone to trade the securities belonging to Vichitbhan Palmoil on the securities market is deemed a severe violation of the rules and regulations of securities trading as well as compulsory policies of Vichitbhan Palmoil. Examples of such internal information include the company's non-publicized financial information, business merger and acquisition plans, amendment of shares' par values, information of new products, marketing plans, sales and employment contracts and production plans.
   • Vichitbhan Palmoil shall prohibit its employees from using any content stated in the internal information in trading the company's securities as well as making use of the internal information belonging to the company's affiliates. Besides, no employees are allowed to publicize or implicitly convey the internal information to any third party who may intend to trade the company's securities.
5. Securities Trading and Use of Internal Information Policy
   • Control System and Internal Audit Policy
     

     The company shall arrange an effective control system and internal audit under the supervision of the internal auditor and the inspection of the audit committee.

   • Accounting and Financial Transaction Policy
     

     The company's management department shall be responsible for the preparation of a complete annual and quarterly financial report with accuracy and timeliness. The preparation of the financial report shall be conducted in accordance with the required standards, where all business transactions shall be recorded accurately and completely in a timely manner and can be inspected without any limitation or exception, while at the same time, any distortion of reporting of information is totally unacceptable. The employees from all levels shall proceed with business transactions in accordance with the rules and regulations of the company. It is also required that important documents and references be provided in a sufficient and timely manner in order to facilitate everyone involved in the preparation and collection of accounting and financial transactions. Meanwhile, the preparation and recording of all types of accounting and financial transactions shall be conducted with accuracy and due completion.

   • Desirable Practices for Law and Compliance
     

     The employees from all levels shall strictly comply with local and international rules and regulations in order to facilitate the preparation and collection of accounting and financial transactions accurately and completely. In addition, all employees are required to be committed to honesty and impartiality in dealing with the preparation and collection of such transactions.

6. Responsibility for Shareholder Policy
   • The employees from all levels shall strictly perform their duties with honesty and implement things with fairness and equality towards the shareholders aiming for sustainable business achievement.
   • The company shall regularly keep the shareholders fully informed about its organizational status.
   • The committee shall report on the company's business trend, both positive and negative, to the shareholders with sufficient supporting reasons.
   • The committee shall also participate in every shareholder meeting if there is no urgent and important mission in order to listen to feedback and respond to all inquiries raised by the shareholders.
7. Customer Treatment and Product Quality Policy
   • The company shall treat all clients politely and fairly by producing and distributing quality products in accordance with the requirements or beyond the expectation of the clients under justified conditions of the contract.
   • The company shall maintain clients' confidentiality and avoid the use of such confidential data for personal benefit or for the benefit of others. In addition, the company shall respond to the clients in a timely manner while developing an effective communication channel to greatly facilitate any client's filing of complaints with products and services.
8. Partner and/or Creditor Treatment Policy
   • The company shall treat partners and creditors fairly and equally under the principle of unbiased benefit returns for both parties.
   • The company shall strictly comply with the agreed requirements specified in the contract. In case that the compliance of any certain requirement has become impossible, it is required to inform the partners and/or creditors immediately in order to seek solutions for such difficulties.
   • The company shall avoid the acceptance of any illegal benefit when making a business negotiation with partners and/or creditors.
   • The company shall disclose full information and suggest mutual solutions to clients or creditors when the acceptance of any illegal benefit exists.
   • The company shall make a report on financial information accurately and in full and submit it to the creditor in a regular manner.
9. Employee Treatment Policy
   • The company shall treat all employees fairly and equally with respect to their honor and dignity.
   • The company shall specify the compensation and welfare to be offered to the employees appropriately and fairly with regard their work performance and the company's ability to proceed with the payment of such compensation and welfare.
   • The company shall proceed with the appointment, rotation, award presentation and punishment in an unbiased manner based on knowledge, ability and appropriateness of its employees.
   • The company shall always recognize the importance of the development of knowledge, ability and proficiency of the employees by providing them with frequent opportunities.
   • The company shall take care of its working environment to ensure safety for lives and property of the employees as a whole.
   • The company shall offer its sincere respect to freedom of individuals and not disclose personal information of other employees to any third party not involved in the business, while strictly complying with the requirements corresponding to the employees.
   • The company shall provide an opportunity to develop an effective communication channel for the filing of suggestions and complaints resulting from undesirable working conditions. All suggestions and complaints will be considered thoroughly and seriously while specifying effective solutions to ensure mutual benefit and good relationship in working together.
10. Competitor Treatment Policy
    • The company shall seriously promote a free and fair trade policy.
    • The company shall abide by the rules of competition.
    • The company shall not seek confidential information belonging to competitors by illegal or dishonest means such as offering remuneration to the committee or the competitors' employees.
    • The company shall never discredit or destroy a competitor's reputation by making a false accusation.
11. Employee Behavior Policy
    • The employees shall perform their duties with commitment, honesty and transparency, while refraining from offering any presents to their supervisor or manager or accepting any present from a subordinate.
    • The employees shall respect the rights of others. The supervisor or manager shall possess respectful behavior and the employees shall show sincere respect to the supervisor or manager.
    • The employees shall be disciplined and behave in accordance with the organization's rules, regulations and traditions, whether they be specified in a written form or not.
    • The employees shall mutually create and maintain a vision of harmony and solidarity among themselves. Meanwhile, the employees shall avoid any unfavorable action that could affect the company's reputation and image or cause a problem to the company in the future.
12. Social and Environmental Responsibility Policy
    • The company is strictly committed to the conservation of environment, tradition and culture aiming to bring greater happiness and better quality of life to the surrounding communities through collaboration with the government sector and surrounding communities.
    • The company shall always encourage its employees to have greater awareness of their social and environmental responsibilities.
    • The company shall promote accident prevention and ensure that waste control occurring from the production process remains at an acceptable level.
    • The company shall speedily and efficiently respond to any incident affecting the environment and the surrounding communities resulting from the company's business operations by collaborating with the government sector or other related agencies in promoting greater social and environmental responsibilities through desirable environmental management with the company's employees.

The code of conduct for this business is approved by the Vichitbhan Palmoil committee in the committee meeting No. 6/2556 dated September 23, 2013, effective from September 24, 2013.