One annual programme. Six bilingual deliverables. One engagement letter.
Othello quotes SET-listed Thai corporates against a single annual disclosure programme — not against per-deliverable vendor sprawl. The substantive procurement reality at SET-listed tier: a single Thai listed company in 2026 has to deliver bilingual 56-1 One Report, bilingual Sustainability Report, the new IFRS S2 climate-related disclosure (SET50 phase-in begins 2026 per SEC Thailand roadmap), bilingual investor relations website, bilingual AGM materials, annual rating-agency submissions (SET ESG · Thai IOD CGR · FTSE Russell), and historical Thai-only annual reports backfilled into English for institutional investor access and M&A diligence. Multi-vendor procurement destroys terminology consistency, slips deadlines, and adds compliance risk at exactly the wrong governance moment. Othello bundles all six deliverables under one engagement letter, one in-house bench, one termbase, one operating standard — substantive ESG writing capability and bilingual disclosure-grade delivery sit under the same accountability chain. บริการครบวงจร · รายงานประจำปี · ความยั่งยืน
- 0156-1 One ReportSEC Thailand · bilingual · annual✓
- 02Sustainability ReportWritten + bilingual · GRI / SET aligned✓
- 03IFRS S2 Climate DisclosureSET50 phase-in 2026 · climate-first✓
- 04IR Website RefreshBilingual · continuous · disclosure-grade✓
- 05AGM MaterialsNotice · proxy · presentation · Q&A✓
- 06Rating-Agency SubmissionsSET ESG · CGR · FTSE · CDP · MSCI✓
One bench. Six bilingual deliverables. One annual programme.
Below: the substantive procurement architecture comparison. Left: the typical SET-listed multi-vendor procurement sprawl — translation vendor (cheap, doesn’t understand frameworks) + ESG consultancy (writes English-only, expensive) + Big 4 assurance (separate engagement) + IR website agency (doesn’t understand disclosure) + Bangkok PR/IR shop for AGM materials. Five vendors. Five engagement letters. Five terminology systems. Terminology drift, deadline slippage, and compliance risk at every interface. Right: the Othello Annual Programme — one in-house bench, one engagement letter, one termbase across every deliverable, one accountability chain from the named methodology specialist through to founder. This is structurally why Othello quotes are competitive at SET-listed institutional procurement tier — the bundle eliminates the coordination overhead that procurement teams pay for invisibly when running multi-vendor disclosure programmes.
What’s in the bundle. Six bilingual deliverables. One annual cycle.
Every SET-listed Thai company in 2026 carries the same substantive bilingual disclosure obligation — the SEC Thailand 56-1 One Report, sustainability disclosure aligned with GRI + SET conventions, the new IFRS S2 climate-related disclosure (phase-in begins SET50 2026), bilingual investor relations website maintenance, AGM materials, and annual rating-agency submissions across SET ESG, Thai IOD CGR, FTSE Russell, and where applicable CDP / MSCI / DJSI. Othello bundles all six under one annual programme — substantively written, bilingually delivered, audit-grade evidenced, and anchored against the same termbase across every deliverable.
Annual · mandatory
56-1 One Report
SEC Thailand’s mandated integrated annual disclosure combining financial reporting, governance reporting, and sustainability reporting in a single instrument. Bilingual delivery is operationally required for any SET-listed company with foreign institutional investors, dual-listing exposure, or ADR / DR programmes. Othello delivers the full bilingual 56-1 — financial sections, governance disclosure, sustainability sections — under one editorial chain, with the same termbase that anchors the standalone Sustainability Report and the IFRS S2 Climate Disclosure. Year-over-year consistency is the procurement-evaluation differentiator.
Annual
Sustainability Report
Othello substantively writes the Sustainability Report — not only translates it. This is the structural differentiator from translation-only vendors and from English-only ESG consultancies. The bench drafts the report in either Thai or English (per client preference), aligned to GRI Standards + SET Sustainability Reporting Guide + the company’s material topic universe. Bilingual delivery is the same engagement letter, same editorial chain, same termbase. The Sustainability Report and the sustainability sections of the 56-1 One Report use exactly the same terminology — terminology drift is the #1 friction on multi-vendor procurement and the bundle eliminates it.
SET50 first · expanding
IFRS S2 Climate Disclosure
The new mandatory climate-related disclosure standard under SEC Thailand’s ISSB Roadmap. Per SEC Thailand’s published roadmap, SET50 companies begin IFRS S2 disclosure in 2026 with phased expansion to broader SET-listed coverage; transition reliefs allow climate-first reporting for the initial five years before full IFRS S1 sustainability disclosure. Scope 1 and Scope 2 emissions require limited assurance under recognised international standards. Othello delivers the full IFRS S2 disclosure — governance, strategy (including scenario analysis), risk management, metrics + targets, GHG inventory disclosure — bilingually under the same annual programme letter as the 56-1 and Sustainability Report.
Continuous refresh
Investor Relations Website
Bilingual IR website refresh and ongoing maintenance. The investor relations website is the public-facing companion to the 56-1 + Sustainability Report — financial highlights, governance documents, sustainability disclosures, ESG datasheets, AGM materials archive, regulatory filings index, historical reports library. Bilingual EN/TH consistency is the procurement-grade quality signal — institutional investors and rating agencies (FTSE Russell, MSCI, Sustainalytics) reference the IR website during their research cycles. Othello refreshes the IR website on the same termbase as every other deliverable in the annual programme.
SET AGM season
AGM Materials
The full AGM materials package. Notice of meeting, proxy forms, board commentary, presentation deck, voting materials, Q&A preparation, and where required simultaneous interpretation at the AGM itself (interpretation is an optional add-on to the annual programme — see Interpretation). The substantive content of the AGM presentation references the 56-1 + Sustainability Report + IFRS S2 disclosure — under bundled annual programme, all four deliverables share the same financial and ESG figures, the same narrative, the same terminology. Foreign institutional investors reading the bilingual AGM pack see exactly the same numbers and language as the 56-1 they referenced six weeks earlier.
Multi-agency
Rating-Agency Submissions
The annual rating-agency engagement cycle. SET ESG Ratings, Thai IOD CGR, FTSE Russell ESG Score (SID portal cycle June–March), MSCI ESG, Sustainalytics, CDP Climate / Water — these are the rating instruments that determine index inclusion, ESG fund eligibility, and investor benchmarking. Othello prepares and submits the rating-agency responses under the same annual programme — indicator-by-indicator gap analysis against each framework, supplementary public disclosure remediation, feedback-round response drafting. The substantive credibility anchor: a SET-listed healthcare operator achieved FTSE Russell ESG Score 4.0/5.0 in 2025 with Othello methodology support.
Old Thai annual reports → English compliance. Same termbase. Single engagement.
Most SET-listed Thai corporates carry a substantive blind spot: five-to-ten years of historical annual reports exist in Thai only. When foreign institutional investors run a multi-year diligence pass, when a sell-side M&A advisor builds a CIM, when a sustainability rating agency runs a longitudinal ESG performance review, when a US/EU acquirer’s external auditor opens a data room — the absence of English historical reports is a procurement-grade compliance gap. Othello backfills historical Thai-only annual reports into English under the same termbase that anchors the current 56-1 + Sustainability Report — so the historical time series reads continuously with the current disclosure. This is structurally why bundling the annual programme + historical backfill under one engagement letter is uniquely valuable at SET-listed institutional tier.
One backfill engagement. Five-to-ten years of historical Thai annual reports brought into English compliance.
The substantive procurement reality: foreign institutional investors, rating agencies, sustainability researchers, M&A counterparties, and cross-border lenders need continuous English-language access to historical disclosure — not just the current year. When the historical reports exist in Thai only, every external party has to either commission ad-hoc translation (expensive, terminology-inconsistent, slow), engage a domestic legal partner for diligence translation (expensive at Big Law hourly rates), or work with incomplete information (the worst option from a Thai listed-company shareholder-value perspective).
Othello’s offer: a single backfill engagement covering five-to-ten years of historical Thai-only annual reports translated into English under the same termbase as the current annual programme. The historical time series reads continuously with the current 56-1, Sustainability Report, and IFRS S2 climate disclosure. Same vocabulary for governance terms, segment names, business unit nomenclature, sustainability metrics, board structure, and ESG performance indicators across the entire ten-year window. This is operationally impossible to deliver through multi-vendor procurement — the terminology drift across vendors and years destroys the continuity.
Foreign institutional investor diligence
Asset managers, pension funds, sovereign wealth funds running multi-year historical diligence on SET-listed positions. 10-year continuous English time series.
M&A diligence by foreign acquirer
Strategic acquirers and PE houses running data-room diligence on Thai targets. VDR backfill in 4–8 weeks under NDA, not months.
Rating-agency longitudinal review
FTSE Russell, MSCI, Sustainalytics, CDP running multi-year ESG performance review. Continuous time series anchors index inclusion candidacy.
Cross-border lending · DR / ADR
USD-denominated lenders, dual-listing applications, ADR / DR sponsors requiring historical disclosure in English. Compliance evidence on the public record.
Scope & index
Historical archive catalogued. Backfill window scoped (5 / 7 / 10 years).
Termbase build
Current programme termbase mapped against historical vocabulary. Governance + ESG terms anchored.
Backfill delivery
Year-by-year delivery in reverse chronological order — most recent year first.
Cross-year QA
Terminology consistency QA across all backfilled years. Segment names, ESG metrics, governance terms locked.
VDR-ready handoff
Audit-grade evidence trail · indexed VDR-ready package · IR website archive deployment.
Why bundle wins. Eight procurement-grade dimensions.
Below: side-by-side procurement comparison across the eight dimensions that matter at SET-listed institutional procurement evaluation. Each dimension is a substantive line of friction in multi-vendor procurement that the Othello Annual Programme structurally eliminates. Procurement panels at Thai listed company sustainability committees, CFO offices, and IR departments reference these dimensions at vendor evaluation — terminology consistency, deadline coordination, NDA scope, audit-grade evidence trail continuity, and procurement contract overhead are not optional considerations at institutional tier.
How the Annual Programme works. Scope-locked. Bench-named. Audit-grade.
The Annual Programme runs under a single engagement letter covering the full bilingual disclosure calendar — scope-locked at signing, bench-named on the letter, milestone-tied, KPI-tracked, and renewable annually. Multi-year commitments (2-year and 3-year programmes) provide programme-level discount and structurally better economics than annual rotation. Every commitment in the engagement letter is documented at signing and audit-grade tracked across the programme cycle.
One engagement letter. Eight substantive scope-locked components.
The annual programme engagement letter is the procurement-grade contract instrument. Every substantive dimension of the programme is documented and scope-locked at signing. No surprises, no scope creep, no hidden cost escalation. Change orders run through formal written amendment with transparent re-pricing against the original engagement-letter baseline.
- 01Six bilingual deliverables in scope — 56-1 · sustainability report · IFRS S2 · website · AGM · ratings
- 02Named in-house bench — methodology-credentialed specialists assigned per deliverable
- 03Programme calendar — milestone schedule across the full annual cycle
- 04KPI matrix — on-time delivery · accuracy · framework alignment · client revision rate
- 05NDA + compliance package — mutual NDA · GDPR + Thai PDPA · data handling protocol
- 06Pricing structure — bundle programme fee · milestone-tied progress payments
- 07Change-order mechanism — formal written amendment process · transparent re-pricing
- 08Audit-grade evidence trail — timestamp logging · named specialist per stage · client-accessible
One year, two-year, or three-year programme. Structurally better economics.
Multi-year programme commitments deliver structurally better economics. The mechanism is operational: year-over-year terminology continuity reduces editorial cost, multi-year bench continuity reduces scoping overhead, and scope-locked multi-year engagement letters eliminate annual procurement workflow. Most SET-listed Annual Programme engagements run on two-year or three-year structures with annual programme reviews.
Annual
One-cycle commitment. Standard programme fee. Year 1 termbase build.
Two-Year
Programme-level discount. Year 2 continuity in termbase + bench.
Three-Year
Deepest programme economics. Full multi-year continuity. Annual review.
The path from first email to engagement letter in five steps.
Substantive engagements move from first NDA-bound enquiry through to signed engagement letter on a standard five-to-ten business day window. The pathway is identical whether the engagement is a single-year programme or a multi-year programme; what varies is the depth of scoping conversation and the complexity of the engagement-letter draft.
NDA from first email
Substantive enquiry. Othello NDA template attaches or client NDA signed within 1 BD.
Programme scoping call
30–60 min scoping call. Six deliverables walked through. Calendar mapped to client cycle.
Programme proposal
Bundle programme proposal with scope · bench · calendar · KPI matrix · pricing structure.
Engagement letter draft
Engagement letter draft circulated. Procurement review. Mutual amendment as needed.
Signed · programme starts
Engagement letter signed. Programme calendar locked. Bench engaged. Termbase initiated.
SET-listed procurement questions answered.
Substantive answers to the questions Thai listed-company CFOs, sustainability committee chairs, IR heads, and procurement evaluation panels ask when scoping the Annual Programme bundle. Click to expand each.
Q.01Can we engage just the 56-1 translation without the full bundle?
Yes, but the bundle is structurally where Othello is most competitive. Othello does deliver standalone 56-1 translation engagements — many SET-listed clients enter Othello on a single-deliverable basis and expand to the full Annual Programme in Year 2 once the termbase and bench are established. The standalone-to-bundle migration path is operationally common and supported through engagement-letter amendment without re-tendering.
That said: the single-deliverable economics are different from the bundle economics. Bundle pricing reflects the structural efficiencies of one engagement letter, one bench, one termbase across all six deliverables; standalone single-deliverable pricing does not capture those efficiencies. If your company’s full disclosure scope includes more than one of the six bundle deliverables, the bundle is materially more competitive than standalone procurement.
Q.02We already have an ESG consultancy — can Othello just do the translation?
Yes, and this is a common entry pattern. Many SET-listed companies have established relationships with sustainability consultancies (Big 4 sustainability practices, boutique ESG firms) and engage Othello specifically for the bilingual delivery of those consultancy outputs. Othello operates as the bilingual editorial chain on the Sustainability Report, the 56-1 sustainability sections, and the IFRS S2 disclosure — translating and editorially anchoring what the ESG consultancy drafted in English.
What you should know: there is a substantive cost to splitting the writing from the translation. The English-only consultancy produces text without bilingual constraint, and the translator inherits terminology choices that may not align with prior Thai disclosure or with the company’s existing 56-1 Thai vocabulary. Over time, many clients consolidate writing + translation under Othello — same bench writes the substantive content and delivers it bilingually, eliminating the handoff loss. The migration is supported through Annual Programme amendment.
Q.03How does the historical backfill work and how many years can you cover?
The historical backfill engagement scopes 5-to-10 years of historical Thai-only annual reports into continuous English disclosure. The substantive deliverable: every year of historical annual report in your company’s archive, translated into English using the same termbase that anchors the current Annual Programme. The reverse-chronological delivery order (most recent year first) means the most-investor-relevant years arrive first.
Typical engagement timeline: 5 years backfilled in 6–8 weeks; 10 years in 10–14 weeks, depending on per-year document length and complexity. The single most important quality dimension is cross-year terminology consistency — governance terms, segment names, business unit nomenclature, sustainability metrics, ESG indicators, board structure language all anchored against one termbase across the entire historical window. This is operationally impossible to achieve through multi-vendor procurement and is the structural reason foreign institutional investors increasingly require the backfill before completing positions in SET-listed Thai stocks.
Q.04Does Othello write the Sustainability Report from scratch or just translate?
Othello substantively writes the Sustainability Report — this is the structural differentiator from translation-only vendors. The bench drafts the report in either Thai or English (per client preference), aligned to GRI Standards Universal + Topic, the SET Sustainability Reporting Guide, the company’s material topic universe, and where applicable IFRS S2 climate disclosure and TCFD-aligned scenario analysis. Bilingual delivery is automatic — the same bench delivers EN and TH versions from the same source content.
The drafting engagement covers: materiality assessment review, framework alignment scoping, source data collection from sustainability team and operating units, narrative drafting, ESG performance metrics presentation, governance narrative, climate risk disclosure under IFRS S2 framework, GRI Content Index, and bilingual delivery. The Sustainability Report and the 56-1 sustainability sections use exactly the same terminology, same metrics, same narrative — terminology drift between the two deliverables is eliminated by structure.
Q.05What about IFRS S2 — we’re SET50 and required to disclose in 2026, how does Othello help?
Per SEC Thailand’s published ISSB Roadmap, SET50 companies begin IFRS S2 climate-related disclosure in 2026, with transition reliefs allowing climate-first reporting (IFRS S2 + climate-relevant IFRS S1) for the initial five years before expanding to full sustainability disclosure under IFRS S1. Scope 1 and Scope 2 emissions require limited assurance under recognised international standards. The phase-in expands beyond SET50 in subsequent years.
Othello’s IFRS S2 delivery covers the full disclosure architecture: governance disclosure (board oversight, management responsibility); strategy disclosure (climate-related risks and opportunities, scenario analysis as required by IFRS S2.46, business model and value chain impact); risk management disclosure (climate risk identification, assessment, prioritisation processes); metrics and targets disclosure (GHG emissions Scope 1+2+3 where material, internal carbon pricing where applicable, climate-related targets with timelines and milestones). The IFRS S2 disclosure integrates with the 56-1 One Report architecture per SEC Thailand’s adoption framework, and bilingual delivery is automatic under the same engagement letter. Assurance coordination on Scope 1+2 emissions is managed against your existing audit firm or coordinated with AccountAbility AA1000AS assurance through Othello’s bench.
Q.06How do you price the bundle compared to procuring vendors separately?
The Annual Programme is priced as a bundled programme fee against the locked scope of six deliverables, with milestone-tied progress payments across the annual cycle. The substantive economics: bundle programme pricing is materially more competitive than the sum of equivalent standalone procurements because the bundle eliminates real costs that multi-vendor procurement carries invisibly — five engagement letter negotiations, five NDA processes, five vendor onboarding cycles, terminology reconciliation across vendor outputs, deadline coordination across vendor interfaces, and the procurement overhead of managing five concurrent vendor relationships.
For multi-year programmes (2-year and 3-year), programme-level discount applies on top of the bundle economics. Specific pricing is confirmed under engagement-letter proposal after the programme scoping call — substantive pricing depends on company size, deliverable depth, multi-year structure, language scope, and any custom scope inclusions (sector-specific frameworks, custom rating-agency engagements, multi-jurisdiction disclosure).
Q.07Can we add interpretation services for our AGM or investor days into the bundle?
Yes — interpretation is offered as an optional add-on to the Annual Programme, particularly for AGM proceedings, investor days, board meetings, analyst calls, and any session requiring bilingual delivery in real-time. The structural advantage of bundling interpretation into the Annual Programme is termbase continuity across modalities: the interpreter team on your AGM works from exactly the same termbase that anchors the translated 56-1 and Sustainability Report your foreign institutional investors read in advance.
Othello offers five interpretation modes — simultaneous (booth-based, AGM-grade), consecutive (board meetings, bilateral sessions), court & legal (arbitration, tribunal), RSI (hybrid sessions), and whispered (small-group bilateral). Engagement-tier pricing structure: half-day, full-day, multi-day, or annual retainer. See the Interpretation column for the substantive modes, and reference the AGM as an add-on scope component in the Annual Programme engagement-letter proposal.
Q.08What about confidentiality — we’re handling material non-public information for our 56-1?
NDA from first email is the operating standard across every Othello engagement, and applies to the full Annual Programme without modification. The substantive enquiry — anything referencing your company name, regulatory deadline, specific financial figures, or material non-public information — triggers the NDA workflow before any content moves. Othello’s standard NDA template attaches on first substantive reply, or Othello signs your procurement-team’s NDA template within 1 business day.
The substantive confidentiality discipline: all bench specialists are in-house under direct employment, bound by engagement-letter confidentiality with engagement-specific NDA extension where required. No freelance handoff, no overseas vendor relay, no consumer-AI endpoint exposure of substantive client content, no undisclosed subcontracting. The discipline aligns operationally with SEC Thailand insider-information regulation, SET-listed company disclosure governance, and the institutional confidentiality regime that applies to material non-public information across the SET-listed market. GDPR + Thailand PDPA B.E. 2562 dual-jurisdiction compliance covers all data handling.
Q.09How do you coordinate with our existing audit firm and ESG assurance provider?
Othello operates alongside your existing audit firm and ESG assurance provider, not in competition. The substantive role distinction: Othello delivers the substantive content drafting, bilingual editorial, and disclosure-ready deliverables; the audit firm / assurance provider performs independent assurance against those deliverables. Othello is named on the engagement letter as the disclosure-content provider; your auditor or AA1000AS assurance practitioner is named separately.
Operational coordination: Othello shares draft deliverables with the audit / assurance team on agreed milestone schedule; remediation feedback is incorporated through standard editorial review cycle; the audit-grade evidence trail covers every Othello-side editorial decision and is available to your audit firm during their independent review. For Scope 1+2 GHG emissions limited assurance under IFRS S2 (required from 2026), Othello coordinates with your designated assurance provider — typically your audit firm’s sustainability practice, an AccountAbility AA1000AS-credentialed firm, or a Big 4 sustainability assurance team.
Q.10How does the Annual Programme align with Othello’s broader engagement framework?
The Annual Programme is the operational expression of Othello’s one operating standard applied to the substantive Thai SET-listed bilingual disclosure obligation. Across every deliverable in the bundle — and across optional add-ons like interpretation, historical backfill, rating-agency engagement programmes, sector-specific framework alignment — the same operating disciplines apply: NDA from first email · named in-house bench on engagement letter · audit-grade evidence trail at every stage · GDPR + PDPA dual-jurisdiction compliance · scope-lock at letter signing · KPI tracking against engagement-letter commitments.
What this means substantively: a SET-listed client running the Annual Programme + AGM interpretation + historical backfill + multi-year programme commitment + sector-specific framework alignment work all gets cross-deliverable methodology continuity under one engagement letter, one bench, one termbase, one accountability chain. One operating standard. Six bilingual deliverables. One annual programme. See Our Process for the substantive delivery methodology, Our Team for the methodology-credentialed bench, and Contact for the four engagement pathways.
One annual programme. Six bilingual deliverables. One bench.
SET-listed Thai corporates running their full bilingual disclosure programme through Othello’s one engagement letter, one in-house bench, one termbase across the 56-1 One Report, Sustainability Report, IFRS S2 climate disclosure, IR website, AGM materials, and rating-agency submissions — plus optional historical annual report backfill and AGM interpretation. Substantive ESG writing capability and bilingual disclosure-grade delivery under one accountability chain. Multi-year programme commitments structurally most competitive. Programme proposal turnaround is 3–5 business days following NDA + scoping call.
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