The Group is cognisant of the importance of continuously maintaining good governance and is dedicated to conduct its business in accordance with the highest standards of integrity, responsibility and accountability. Pursuant to these ethical standards, Kim Teck Cheong Consolidated Berhad (hereinafter referred to as “KTC”) has adopted a stand of zero tolerance towards all forms of corruption, especially in respect of bribery, malpractice and illegal acts.
Following the above-mentioned ethical standards, the Group is committed to uphold anti-corruption policy (hereinafter referred to as “ACP” or “the Policy”) that promulgates principles and standards on anti-corruption as well as maintenance of business documentation and financial records for reasons of accountability and responsibility. Such policy is designed to be in congruent with Malaysian Anti-Corruption Commission Act 2009 (Act694) (“MACC Act 2009”) and advocates similar principles and standards in KTC’s business management and approach. In upholding these commitments, all members of the Board of Directors, staff and third parties are required to exercise the highest standard of integrity and accountability in discharging their duties and to ensure that the Group’s business activities are conducted in compliance with applicable legal and regulatory requirements.
The Board of Directors (“the Board”) and Management are engaging an anti-corruption framework which is in line with the Guidelines on Adequate Procedures as promoted by the Prime Minister’s Department of Malaysia pursuant to subsection (5) of Section 17A of MACC Act 2009, as provided in the Malaysian Anti-Corruption Commission (Amendment) Act 2018 (“MACC Amendment Act 2018”). The underlying objectives of this framework are to assist KTC in preventing the occurrence of corrupt practices in business activities, especially in the deterrence of corruption, bribery, malpractices and illegal activities that may arise in its daily operations. The elements within such anti-corruption framework includes:
The Group has put in place a Whistleblowing Policy and Procedure to provide an avenue which serves as a dedicated and confidential platform for all employees and third parties to report and highlight any act of corruption in a confidential manner that protects the whistle-blower from any risk or reprisals. All whistle-blowers are assured of protection in respect of their identity in accordance with the Whistleblower Protection Act 2010 that has been in force.
For any breach of KTC’s Anti-Corruption Policy, employee may be subjected to stern disciplinary actions and the Group and Company reserves the right to terminate any relationship with third party.
Continuous Monitoring and Evolution
Compliance with this Policy is being regularly monitored by KTC, and internal review on the Group’s anti-corruption framework is being conducted at least once every 3 years or when deemed necessary. KTC is committed to continuously evolve its anti-corruption policy and framework as described in this document as part of its aspirations towards establishing, implementing and maintaining pervasive anti-corruption monitoring and management framework.