Huntsman has an internal system of control whereby a group of people are being authorised to approve external commitments with different limits (Delegation of Authority). The contract can only be signed after the aforesaid approval has been obtained. Thereafter, the Company needs to arrange for Kin Keong or Ms Pang to sign any contract of value exceeding THB 50 million as stipulated under the attached Affidavit.
Query from our business is: Can the people with the DoA sign contract on behalf of the Company under Thai law?