Page 105 - BTSGroup ONE REPORT 2021/22_EN

BTS Group Holdings Public Company Limited 4.3 Risk Management Review 103
Annual Report 2021/22

This transition to an aging society may result in passengers considering The diversification of these risks will help support and respond to changes
alternative modes of transport or mass transit systems (e.g. private hire cars, in Thai society toward a super-aged society and strengthen the stability of
taxis, buses, MRT) or other modes of services (e.g. payment services, online the Group’s sustainable income growth.
trade or other delivery services) that are more responsive to the specific needs
and necessities of the elderly. Therefore, if the Group cannot adjust the services • Technology Risk and Cybercrime Risk
and facilities on the train stations and in the trains to accommodate the use of
the services of the elderly within a reasonable period of time, this may affect Changes in today’s technologies and responses to the COVID-19 pandemic
the growth of passenger numbers in the mass transit business and the reduced has cause consumers to adapt to the New Normal, and are shifting online.
number of passengers may affect the media business in the mass transit system An increase in remote working, online classes, e-commerce have been driven
and other services business of the Group. In addition, the adjustment of such by the advancement of information technology, telecommunication system,
services and facilities to be sufficient for the increasing number of elderly people digitalised system, and cyber system. With the adaptation of new technologies,
in the future may result in an increase in the cost of doing business for the BTS Group are able to collect and analyse information of customers, passengers,
Group. The aforementioned may have a negative impact on the overall revenue and Rabbit Card members. In the past year, the number of online users have
and operating results of the Group. increased more the 15.8 percent compared to 2020/2021.Personal data,
i.e. first name, address, telephone number, or credit card information becomes
In response to this risk, the Group plans to accommodate the transition towards a core value for businesses in the digital era, are now susceptible to theft.
an aging society. This includes improving the train stations and trains by adding Ransomware is one of the highest growing cybercrimes. With, the advancement of
adequate and suitable facilities for the elderly, such as escalators, passenger technology, especially the ones the Company uses to collect, analyse and process
lifts, ramp stairs, handrails, passenger seats, development of public relations immense pool of data, is an appealing channel for cyber terrorism
media and payment modes that are convenient for the elderly (user friendly Malware blocks the victim’s access to their personal data in exchange for
interface), as well as personnel training to create understanding and awareness financial gain. The Company may incur costs for data recovery and information
of service to the elderly at all levels. technology systems and other related expenses as well as build confidence in
the Company or organisation back. This risk is a social and technological risk.
Moreover, the Group has also linked online and offline advertising media and There is a cause of macro economic factors that can drastically affect
develop consumer insights analytics technology based on Big Data from the Company in the long run. Therefore, the Company closely monitors
the Group’s various platforms. This makes it possible to understand consumer the security of information and personal data.
behaviour and utilise it to develop a service model that meets the needs of
each consumer group including the elderly. In addition, the Group sees the BTS Group has consistently invested in technologies such as the signal
opportunity to expand and develop other businesses, such as the development transmission system for the SkyTrain network, automatic fare collection system,
of online payment channels via mobile applications such as Rabbit LINE pay and electronic payment system, as well as multimedia advertisement system.
the development of the distribution business unit such as Kerry Express Thailand. In addition, in order to prepare the Company for other technology risks, BTS
These services will increase the convenience and speed of purchasing goods Group has set out various guidelines and frameworks to deal with the issue,
and services for the elderly, both in terms of payment and delivery and reduce namely (1) constantly keeping its technology and operating systems up to date
the need for travel among the elderly. and secure to provide the most efficient services for customers; (2) making risk
assessment and appropriate adjustments to various circumstances; (3) constantly