Company     means     Muang Thai Life Assurance Public Company Limited

Suppliers      means     Vendors, Contractors, and/or Service providers, whether legal entities or natural

                                     persons, engaged by the Company, including their subcontractors.

Suppliers should adhere to ethical business principles to promote sustainable and transparent business partnerships, as follows

• Conducting business with honesty, integrity, and in compliance with applicable laws and regulations

Suppliers must conduct business with integrity, honesty, transparency, accountability, and in the right and proper manner, while upholding ethical standards. They must comply with all applicable laws, regulations, and rules, and establish effective channels for employees and stakeholders to raise concerns or file complaints, together with measures to protect whistleblowers.

• Anti-Corruption and Anti-Bribery

Suppliers must strictly comply with all applicable anti-corruption laws, including prohibitions against extortion, embezzlement, fraud, bribery or kickbacks, favoritism, giving or receiving gifts, hospitality, and entertainment activities. They must not offer or accept gifts, bribes, fees, services, discounts, or any privileges that could be perceived as granting an unfair advantage. Suppliers are expected to establish clear anti-corruption practices and cooperate in complying with the Company’s anti-corruption policies and measures.

• Conflict of interest

Suppliers must not have any business interests or relationships that could create a conflict of interest with the Company. If suppliers or their personnel have any such interest that may lead to a potential conflict of interest, they must disclose it to the Company to allow appropriate measures to prevent and manage the conflict.

Suppliers must not have any involvement with the Company’s directors, executives, or employees to obtain improper benefits, must not have any conflicts of interest with the Company’s business, and must not seek personal gain from their positions, roles, or opportunities arising from collaboration with the Company.

• Fair Competition

Suppliers must comply with all applicable competition laws and regulations, and conduct business based on trust and mutual respect. They should promote fair competition and fair trade practices, including establishing fair commercial terms or pricing.

Suppliers must not engage in any practices that unfairly restrict or hinder competition, nor cooperate with others to do so.

• Confidentiality and proprietary information

Suppliers must respect privacy rights, protect and maintain personal data in their care, and protect the confidential information of both the Company and other relevant suppliers. All data must be handled in compliance with applicable personal data protection laws. Any data obtained from providing services to the Company must be used responsibly and only for the purposes for which it was intended.

Suppliers must not misappropriate or improperly use the intellectual property of the Company or others, and must take appropriate precautions to prevent any infringement of such rights, unless properly authorized. 

• Data Security and Cybersecurity

Suppliers must maintain and safeguard the security of data, networks, and online systems used in business operations, in compliance with all applicable cybersecurity laws and regulations.    

Suppliers must establish and implement guidelines to maintain the security of data received from the Company, in order to prevent loss, unauthorized or improper access, use, modification, or disclosure, and to prevent access by any individuals not involved in providing services to the Company.  

Suppliers should implement systematic risk management practices to ensure smooth business operations and effectively address unforeseen events, as follows

• Risk Assessment and Management

Suppliers must establish processes to identify, assess, and appropriately manage potential business risks to prevent damage and negative impacts on the Company and its stakeholders. This includes managing risks related to business ethics, such as conflicts of interest, corruption, data security, and ESG risks, to ensure sustainable business operations with suppliers.

• Business Continuity and Crisis Management

Suppliers must establish business continuity guidelines to address emergencies or natural disasters that may impact operations, including fires, floods, earthquakes, epidemics, national emergencies, or political uncertainties. Regular preparedness and response measures should be implemented to ensure safety, occupational health, and environmental protection, while enabling business operations to continue without interruption or with minimal impact.

Suppliers must uphold human rights and treat their employees and workers with respect, in accordance with fair labor practices, as follows

• Compliance with Labor Laws

Suppliers must treat their workers in accordance with all applicable labor laws and standards, including the protection of specific labor groups such as minors, female workers, pregnant workers, elderly workers, persons with disabilities, and migrant workers.

• Anti-Discrimination and Anti-Harassment

Suppliers must respect the rights of workers and treat them with dignity and equality, without discrimination based on race, nationality, indigenous status, minority groups, language, religion, gender, age, education, disability, or political beliefs.

• No Forced Labor

Suppliers must respect and treat workers fairly, and must not use any form of forced labor or inhumane labor practices, including modern slavery, nor engage in human trafficking.

• Child Labor

Suppliers must not employ child labor below the minimum legal age as required by the laws of each country.

• Salary, Benefits, and Working Hours

Suppliers must establish working hours, days, and holidays in accordance with applicable laws, provide compensation and benefits as stipulated in employment contracts without violating any legal requirements, and ensure that workers can exercise their leave entitlements according to company work rules.

• Freedom of Association and Collective Bargaining

Suppliers must respect the rights of workers to freedom of association, peaceful assembly, participation in political activities, expression of opinions, and participation in collective bargaining, in accordance with applicable laws.

Suppliers must give the highest priority to safety, occupational health, and the working environment, as follows

• Compliance with Safety, Occupational Health, and Environmental Laws and Regulations

Suppliers must strictly comply with all applicable laws, regulations, rules, and standards related to safety, occupational health, and environmental protection.

• Safety and Working Environment

Suppliers must provide a safe working environment to protect the lives and property of employees and relevant stakeholders. This includes supplying adequate and appropriate personal protective equipment based on the risks involved and ensuring its proper use. Suppliers must also be prepared for emergencies or natural disasters that may impact safety and occupational health, to ensure business continuity.

Suppliers play a critical role in conducting their business with environmental responsibility by complying with all applicable laws and standards, and by actively participating in the conservation of natural resources, climate change management, and biodiversity, as follows

• Environmental Management

Suppliers must strictly comply with all applicable environmental laws, regulations, and standards relevant to their business operations.

Suppliers must conduct their business in an environmentally responsible manner, taking into account environmental impacts, ecosystems, and biodiversity to minimize negative effects on the environment and local communities. They must actively participate in the conservation of natural resources and the environment, and use energy, soil, and water efficiently and cost-effectively within their facilities.

Suppliers should prioritize the efficient and environmentally responsible management of waste generated from business operations by promoting proper waste handling and avoiding environmentally harmful methods, such as incineration or landfilling. They should implement measures to reduce waste at the source and encourage waste reuse, including recycling, repurposing, or value-added processing, in line with the principles of a circular economy.

• Climate Change and Biodiversity Management

Suppliers should support appropriate management of climate change and biodiversity. They must identify and manage risks related to climate and biodiversity, and collect and disclose environmental data transparently, such as greenhouse gas emissions, waste volumes, energy consumption, and water usage. Suppliers should also establish clear climate change targets and develop plans or guidelines to reduce greenhouse gas emissions from their operations, including measures such as reducing energy consumption, increasing the use of clean energy, and improving operational processes for greater efficiency.

Suppliers should conduct their business with social responsibility, being mindful of the impacts of their operations and actively promoting the development and quality of life of the surrounding communities and society, as follows

• Community Relations

Suppliers should build positive and sustainable relationships with surrounding communities by respecting cultural diversity and local traditions, communicating openly, and addressing any issues arising from their operations to ensure that their business does not negatively impact the quality of life or livelihoods of community members.

• Participation in Social Development

Suppliers should contribute to improving the quality of life and well-being of communities and society by supporting or initiating beneficial projects, such as those related to education, public health, environmental protection, or addressing community challenges, as appropriate.

Suppliers must strictly comply with the contracts and agreed-upon terms with their counterparties, including any requirements mandated by applicable laws, and take full responsibility for the quality of products or services provided to their counterparties.

The Company is committed to promoting and encouraging its suppliers to conduct business in accordance with this Supplier Code of Conduct, which is a prerequisite and an integral part of the Company’s procurement process. This Code provides a key guideline for conducting business with integrity and transparency, fostering sustainable and mutually responsible business relationships. The Company believes that adherence to this Code will create mutual benefits for all parties.

In the case that a supplier fails to comply with this Code of Conduct, the Company reserves the right to review the business relationship, considering the impacts and damages that may arise, in accordance with the principles of fairness and shared responsibility.

In the case that suppliers or any stakeholders have concerns or become aware of actions suspected to violate laws, regulations, or the Company’s Code of Conduct and business ethics, they may report such concerns or complaints in accordance with the Company’s Whistle-Blowing Policy through the designated channels. The identity of whistleblowers will be kept confidential and protected during the investigation and after its conclusion.

Further details of the policy and reporting channels are available on the Company’s website: https://www.muangthai.co.th/th/about-mtl/sustainability-development/cg-policies/whistle-blowing-policy 

The Company reviews the Supplier Code of Conduct annually, or whenever significant events warrant a review, and will communicate any material changes to all stakeholders.