ANTI-BRIBERY AND CORRUPTION POLICY
Bribery is when a person corruptly solicits, accepts, receives, offers, gives, promises, or attempts to corruptly solicit, accept, receive, offer, give or promise, whether alone or with another, any gratification as an inducement or reward, whether in doing an act or forbearing to do an act, in order to give or obtain an improper benefit or advantage, or which will likely give or obtain an improper benefit or advantage whether to/for themselves and/or the Company. An improper benefit or advantage can take the form of any financial or non-financial gain, and includes regulatory, contractual, commercial, payment in kind, and monetary benefit or advantage. Company’s personnel are prohibited from carrying out such activities, whether in their own capacity, or with others, and/or as representatives of the Company.
As individuals and as a corporation, the Company and Company’s personnel are bound by the laws of Malaysia in opposing bribery and corruption, and shall also abide by all laws against bribery and corruption in other countries the Company does business in. The Company is committed to upholding our core values when operating in foreign jurisdictions, in particular, when dealing with foreign private citizens, companies and/or public officials.
The law governing anti-bribery and similar offences in Malaysia is the Malaysian Anti-Corruption Commission Act 2009 (the MACCA) which came into force on 1 January 2009. Contravention or violation by the Company and/or any individual, of anti-bribery and anti-corruption laws are punishable by a stiff fine and/or imprisonment. Further, should the Company or any individual violate or contravene one or more of the relevant laws against bribery and corruption, it will not only affect the Company’s reputation, and possibly involve the Company in costly litigation, but the Company may be excluded from tendering for any projects.
This policy covers the following:-
a. Facilitation Payments/Bribes
Facilitation Payments are unrecorded payments made to any public official to speed up and expedite routine and requisite actions, such as obtaining governmental approvals, permits, etc. Under Malaysian law, and the laws of other foreign jurisdictions, these will be regarded as bribes. Similarly, any unrecorded payments made, whether directly or indirectly through a third party, which are not made in accordance with contractually agreed payments, or commercially stipulated payments, (for example payment of fees stated in tender documents), to obtain a benefit or an advantage, for example, from a prospective client, will be regarded as bribery.
b. Gifts and Hospitality
While the occasional and reasonable business related gift giving or business related hospitality may be acceptable, and only after prior approval has been sought and obtained from Management, and properly recorded, excessive and/or expensive business related gift giving and hospitality will not be tolerated, and may be a violation of local laws and/or the laws of foreign countries, and/or policies of other organizations. Employees and contract personnel are not permitted to personally accept any business related gift or hospitality from any person and/or organization, unless prior approval has been sought and obtained from Management. This would include but not be limited to travel and accommodation costs, kickbacks such as cash or jewelry, and tickets to entertainment and food outlets. Whilst the intention of the giver may be honourable, prior approval from Management is best sought and obtained in such cases, to prevent any impression of possible bribery or corruption.
c. Charitable Contributions
Any and all charitable contributions by the Company must be legal, recorded, properly receipted, and must be done in a transparent manner so as not to be interpreted as an improper inducement or reward, and thereby giving the mistaken impression of concealing an act of bribery. Any charitable contributions, whether financial, or non-financial (such as providing free service), shall be made after prior approval has been sought and obtained from Management. The Company’s personnel are not prohibited, in their personal capacity, from making charitable contributions and donations and are in fact encouraged to do so for the greater good, as long as such donations and contributions are not made to persons, government bodies and private/semi-private organizations having, or likely to have, a business relationship or dealings with the Company. Should such donations and contributions be to persons, government bodies and private/semi-private organizations having, or likely to have, a business relationship or dealings with the Company, it is mandatory to seek and obtain prior approval from Management before making any and all such payments.
d. Political Donations
The Company has no political affiliations and is not a political party, and therefore, contributions and donations of Company funds to any political parties are not permitted. Such payments may also be viewed as a means to gain an improper benefit or advantage to enhance the business interests of the Company. Company personnel, and other third parties having dealings with the Company, may make political contributions or donations in their personal capacity, as long as such political contributions or donation are legal, and do not contravene local, and where applicable, foreign laws.
Company personnel and third parties dealing with, or on behalf of, the Company, are responsible to ensure that they do not violate or breach this policy and local laws, and any other anti-bribery and corruption laws of countries in which Company business is undertaken. Any activity that may be interpreted as a breach or violation of this policy should be avoided and should be reported to Management, including any attempt or possible attempt at bribery or any other suspicious or observable corrupt acts you or may be a victim of such acts.
In the event of uncertainty on the receipt or giving of gifts, gratuities and entertainment, it is recommended to consult with, and seek advise from, the Human Resource Department of the Company or Management executives or managers. No Company personnel or third party shall face any ramifications for reporting on any acts which may be seen as illegal or corrupt. Management shall investigate in full any such illegal or corrupt acts. There should be full disclosure to Management of all business related expenses, gifts and hospitality, including the reasons for such business related expenses. No such expenses shall be kept off the record, and all such financial records must be prepared and maintained with strict accuracy. Any employee, contract personnel or third party found to be violating these rules and controls, and not adhering to this policy, shall be subject to the appropriate disciplinary action, including, where appropriate, dismissal, or termination, as the case may be. Where appropriate, civil and/or criminal actions may be instituted.