Thailand-based Ubon Bio Ethanol Public Company Limited (UBE) has received an “Excellent” five-star rating in the 2026 Corporate Governance Report of Thai Listed Companies (CGR), marking the fourth consecutive year the company has achieved the recognition.
UBE scored more than 90% in the assessment, which covered 840 listed companies. The annual evaluation is organised by the Thai Institute of Directors (IOD), with support from the Stock Exchange of Thailand (SET) and the Securities and Exchange Commission (SEC).
The latest rating recognises the company’s corporate governance practices, including shareholder rights, stakeholder engagement, transparency and board accountability.
UBE outlines four areas of corporate governance
According to the company, its governance framework focuses on four principal areas.
The first concerns shareholder rights and equitable treatment, including transparent shareholder meetings, fair voting procedures and safeguards for minority shareholders.
The second covers stakeholder responsibilities and sustainable business development. UBE said it incorporates environmental, social and governance (ESG) considerations into its business strategy, including organic agriculture, environmental management, renewable energy and community development.
The third area relates to disclosure and transparency, with an emphasis on providing accurate, complete and timely financial and non-financial information to shareholders, investors and the public.
The fourth focuses on board responsibilities, including board composition, independent oversight, strategic direction, risk management, internal auditing and anti-corruption measures.
Cassava-based ethanol and renewable energy operations
UBE operates an integrated cassava processing business spanning ethanol, tapioca starch and flour, and agricultural products.
The company’s ethanol operations have an installed production capacity of 400,000 litres per day, equivalent to approximately 146 million litres annually. Its production uses agricultural feedstocks including cassava and molasses.
The company also utilises by-products from its manufacturing processes to support renewable energy generation. Its sustainability operations include biogas production from manufacturing processes and wastewater treatment systems, alongside solar farm and floating solar projects.
These activities form part of UBE’s efforts to improve resource efficiency and create additional value from agricultural and industrial by-products.
UBE reiterates focus on ESG and stakeholder engagement
UBE Chief Executive Officer and Managing Director Suree Kowsurat said the fourth consecutive five-star rating reflected the company’s approach to transparent operations and corporate governance.
She said UBE aims to create value across its business value chain, including for farmers, local communities, shareholders and other stakeholders. The company also plans to continue strengthening its governance standards and ESG management as part of its contribution to Thailand’s bioeconomy.
The company said its approach includes balancing the interests of stakeholders while maintaining ethical business practices and supporting long-term growth.
