Good Corporate Governance
Anti-Corruption Policy
The Board of Directors has issued the anti-corruption policy which forbids directors, executives, and employees from giving or receiving bribes of any form or any other benefit that is intended to induce any action or to procure, for himself or other person, any advantage to which he is not entitled by law.
The policy also requires transparency in charitable donations, business gifts and funding of activities in order to prevent any action with an aim for any benefit, whether from public or private sector.
Policy Implementations.
The Company has evaluated the risks associated with corruption in various areas, for instance, procurement, supplier relations, and liaise with government sector. In addition, the evaluation results were used to create “Guideline on Anti-Corruption”. The Guidelines are summarized as follows.
- The Company does not have any regulation, whether directly or indirectly, to give political aid to any political party.
- The Company requires that the charitable contribution is intended exclusively to service the public or promote quality of live.
- The Company has policy to give financial support exclusively for activities that are intended for business or reputation of the Company without ulterior motives for competitive advantages in the business.
- The Company has placed policy forbidding executives and employees from giving or receiving gift, hospitality and additional fees that are unnecessary or inappropriate to/from government officer or any other individual.
The Company's Board of Directors has commissioned the Good Corporate Governance Committee to be responsible for supervising and monitoring the compliancy with the Anti-Corruption policy as well as appointed the Office of Compliance its responsibility to study, monitor and audit the compliancy with the Corruption Risk Avoidance policy and report the result of its work to Good Corporate Governance Committee which will later be presented to the Board of Directors.
At the same time, the Office of Compliance, as Secretary of Good Corporate Governance Committee, perform its duty to educate employees - at the orientation for new employees every quarter and annual training for present employees, coupled with information update on Anti-Money Laundering and Combating the Financing of Terrorism Policy.
