Stakeholder Engagement

Sikarin Public Company Limited recognizes the critical role stakeholders play in supporting the long-term sustainability of the business and co-creating value for the organization. Therefore, the company is committed to building strong and transparent relationships with all stakeholder groups to effectively address expectations and concerns promptly, in alignment with societal changes.

The company has established a systematic stakeholder engagement process through various communication channels, including the 1728 hotline, annual meetings, satisfaction surveys, complaint mechanisms, and online platforms. These channels enable the company to comprehensively understand the needs and feedback of stakeholders, which can then be incorporated into responsive action plans to enhance operational efficiency.

Additionally, Sikarin consistently identifies and prioritizes stakeholders following international standards such as the AA1000 Stakeholder Engagement Standard (AA1000SES).

This ensures the engagement process is transparent, inclusive, and aligned with global sustainability standards. This effort is overseen by the Sustainability Committee, which reviews stakeholder inputs and provides recommendations and policies to the Board of Directors for approval. This governance ensures the company’s operations align with stakeholder expectations across all dimensions of sustainability.

Identification and Prioritization of Stakeholders

In 2024, Sikarin conducted a review of its stakeholder identification and prioritization process in collaboration with internal departments. This review ensured that all stakeholder groups were comprehensively managed. The process focused on evaluating the relevance and comprehensiveness of stakeholder groups, assessing the effectiveness of existing communication channels, analyzing concerns and issues raised by stakeholders, and determining appropriate management responses. Additionally, it considered the value stakeholders gained from the company’s operations, which strengthened trust and collaboration between stakeholders and the organization.

Stakeholders were identified based on their level of engagement with the company’s business activities. The prioritization of stakeholders was determined by two key factors: the influence stakeholders have on the company’s operations and the impact of the company’s operations on stakeholders, both in the present and the future.

Feedback collected through diverse communication channels is incorporated into the company’s strategic decision-making, enabling effective management of stakeholder relationships and fostering positive value creation across all groups equally.

Expansion of Stakeholder Groups in 2024

Following the 2024 review, Sikarin identified seven stakeholder groups, an increase from six groups in 2023. The newly added group is regulators, reflecting their critical role in the highly regulated healthcare industry.

Engagement with government agencies, such as the Ministry of Public Health, and accreditation bodies, such as JCI, is vital in defining legal frameworks and operational standards that directly impact the hospital's activities. Transparent and accountable engagement with regulators ensures compliance with relevant laws and prepares the hospital to adapt effectively to future regulatory changes.

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Customer and patient trust and satisfaction reflect the quality, standards, and safety of healthcare services, directly influencing the organization’s long-term success and sustainability. Additionally, their needs and feedback play a crucial role in driving innovation, enhancing service quality, and fostering transparent and strong relationships.

Service quality and safety
Data protection and confidentiality
Convenience and ease of access to services
Transparency in service delivery
Medical expertise and technological advancements
A diverse range of services tailored to individual needs

Established Hotline 1728 to provide consultations and address patient inquiries
Created multiple channels for complaints and satisfaction surveys
Set up a dedicated Customer Relations Department
Implemented an efficient appointment and queue booking system
Provided free community healthcare services
Enhanced service standards with a strong focus on quality and safety
Expanded training programs to ensure staff can effectively meet patient needs

97.98% outpatient satisfaction and 99.19% inpatient satisfaction
Increased patient return rate
Strengthened community trust and relationships
Enhanced transparency and adherence to industry standards

Shareholders and investors are key stakeholders in ensuring the stability and growth of Sikarin Public Company Limited (SKR). Building trust and confidence among them reflects SKR’s commitment to transparency and good corporate governance, both of which play a crucial role in fostering long-term business sustainability.

Delivering sustainable returns on investment and long-term business growth
Transparent, complete, and timely communication and disclosure
Sustainable business operations with adaptability to change
Effective risk management and integration of Environmental, Social, and Governance (ESG) considerations

Hosting Annual General Meetings (AGM), Analyst Meetings, and Opportunity Day events
Disclosing key information via the company website (www.sikarin.com)
Publishing Annual Reports, Sustainability Reports, and other key investor documents
Providing direct communication channels via phone and email for investor inquiries and feedback
Implementing a Conflict of Interest Policy to ensure ethical business practices
Engaging shareholders and investors to refine sustainability and ESG strategies

Strengthened investor confidence
Sustainable business practices contributing to stable and attractive financial performance
Enhanced corporate reputation as a responsible and respected entity in the capital market
Established strong and lasting relationships between SKR and its stakeholders

Employees are a vital asset driving the success of Sikarin Public Company Limited (SKR). Nurturing and developing their expertise while ensuring their well-being directly impacts the quality of service delivered to patients and customers. Additionally, investing in employee growth strengthens the organization’s long-term sustainability.

Job security, fair compensation, and comprehensive benefits
A safe and healthy work environment, free from accidents and occupational diseases
Opportunities for learning, skill development, and career growth
Effective communication and active employee engagement

Conducting annual employee satisfaction surveys to assess needs and gather feedback
Organizing regular meetings between management and employees
Offering diverse benefits tailored to employee needs
Enhancing workplace safety measures
Developing training programs aligned with future industry trends and employee interests
Promoting career-specific skill development

75% employee engagement rate
Zero work-related illnesses or injuries
Reduced employee turnover rate

Regulatory authorities play a crucial role in setting laws, standards, and policies related to healthcare services. Strict compliance with these regulations, along with maintaining strong relationships with these entities, enables Sikarin Public Company Limited (SKR) to operate in a stable, transparent, and compliant manner.

Strict compliance with laws, regulations, and policies governing the healthcare industry
Accurate, transparent, and timely reporting of operational performance, including Environmental, Social, and Governance (ESG) impacts
Collaboration in public policy development
Adherence to international standards and transparency in operations

Established an internal audit department and compliance system to ensure adherence to health, safety, and environmental regulations
Published comprehensive sustainability reports, including ESG disclosures and One Report submissions
Complied with international standards, such as JCI requirements, ESG Ratings, GRI Standards, and IFRS, to enhance global credibility

Strengthened industry credibility
Sustainable and stable business operations
Enhanced national and international collaborations
Elevated corporate reputation on a global scale

The quality, safety, and compliance of goods and services provided by business partners are essential to Sikarin Public Company Limited (SKR) in delivering high-quality medical services to patients and customers. Strong collaboration and long-term relationships with partners also help mitigate supply chain risks, ensure business stability, and drive sustainable growth together.

Fairness, equality, and transparency in all business dealings
Clear communication of policies, requirements, and terms of collaboration
Long-term partnerships that enhance stability and sustainability
Knowledge sharing and capability development for business partners
Collaboration on sustainability initiatives

Implemented a transparent and fair procurement process with standardized audit procedures
Established complaint channels for partners to report issues and ensure transparent resolution
Developed comprehensive procurement documentation outlining clear terms and conditions
Utilized multiple communication channels, such as the company website and meetings, to keep partners informed
Hosted annual meetings to evaluate performance and explore ways to strengthen partnerships
Provided training and development programs for business partners

Zero reported cases of fraud or unethical conduct among business partners
Strengthened trust and relationships with partners
Reduced environmental impact and enhanced supply chain stability
Improved partner collaboration to mitigate procurement risks

Community, society, and the environment are key stakeholders in Sikarin Public Company Limited’s (SKR) operations. A mutually beneficial relationship between the company, the community, and the environment is fundamental to sustainable growth. SKR recognizes the importance of actively contributing to community development, promoting public health and well-being, and operating with environmental responsibility. Maintaining strong relationships and addressing community and societal needs not only builds trust but also supports a balanced and sustainable business model in the long run.

Listening to community feedback and ensuring transparent engagement
Supporting health and well-being initiatives, such as medical check-up programs
Sustainable resource management, including carbon emission reduction and waste management

Hosting biannual community engagement meetings to gather feedback
Providing accessible communication channels, including Hotline 1728, for community inquiries and complaints
Organizing healthcare programs for local communities and society
Implementing energy-saving, waste management, and carbon reduction initiatives across business operations

Increased trust and community support
Improved health and quality of life for local communities
Enhanced environmental sustainability
Long-term social and economic stability

Competitors are an important stakeholder group in Sikarin Public Company Limited’s (SKR) business landscape. Healthy competition within the healthcare industry drives continuous improvement and service excellence. Maintaining professional interactions and adhering to ethical business practices fosters a fair and transparent market environment while also creating opportunities for industry collaboration.

Upholding ethical business conduct and industry standards, avoiding misconduct or unethical practices
Respecting fair competition regulations and legal requirements
Avoiding dishonest practices, such as misleading information or unfair claims, to maintain trust in the business ecosystem

Complying with laws, regulations, and international standards to ensure a fair competitive environment
Conducting business with transparency and accountability, adhering to ethical guidelines and promoting responsible business practices
Avoiding actions that harm competitors or the industry’s reputation, such as making false claims or engaging in negative attacks

No business disputes reported
Fair competition within the industry
Increased transparency and integrity in business operations

Stakeholder Engagement