Introduction
This Anti-Corruption and Bribery Policy (ACBP) is to prevent the occurrence of corruption and bribery practice in relation to the businesses of the Company. Tai Crest Resources Sdn. Bhd. conducts its business in a legal and ethical manner. The Company will ensure its businesses or any transactions do not participate in corruption activity for its advantages or benefits.
General
The Company requires all employees including permanent, probationary, contract and temporary staff and sub-contractor as well as employee of subcontractor and
Directors of the Company to be committed to act professionally with integrity in their business dealings.
Objectives
This policy is set to provide information and guidance to the Board of Directors (BOD) and employees on the overall position bribery and corruption that might happened on daily operations. For all intents and purposes, the BOD and employees shall ensure compliance with all applicable laws in performing their duties.
Responsibility
This policy is applicable to all BOD, Management and employee (either permanent, contract or temporary), sub-contractor of Tai Crest Resources Sdn Bhd and employee of subcontractor. This policy needs to be read and understand clearly by the employee. Disciplinary action will be taken including termination of employment if violation of the policy.
Compliance to The Law
The Company comply with all applicable law including the Malaysian Anti-Corruption Commission Act 2009, The Whistleblower Protection Act 2010 and the Malaysian Anti-Corruption Commission (Amendment) Act 2018 or any amendments thereto.
Definition
Corruption is defined as abuse of position for personal gain or misuse of position to help others to improperly enrich themselves.Bribery is the most common form of corruption and it can be broadly described as the offering, promising, giving, accepting or soliciting of an advantage as an inducement of any action which is illegal or a breach of trust in order to gain personal or other advantage. It can be in the form of cash and other forms including non-cash gifts, lavish entertainment or hospitality, fees or other reward or benefit.
Anti-Corruption and Bribery
Gifts, Hospitality and Entertainment
Gifts and entertainment given and received as a reward, inducement or encouragement for preferential treatment or any other advantage, or inappropriate or dishonest conduct are strictly prohibited. Particularly, no gifts, hospitality or entertainment may be given or accepted during a crucial process such as contractual negotiations or tender processes if there are any realistic risks that giving and acceptance of such articles could very well manipulate and influence the outcome of such processes and negotiations.
Gifts or entertainments may only be presented to a third party only in the situation that it is consistent with the customary business practice, and that the gifts or entertainment are humble in value and cannot be interpreted as inducements to trade. Guidance from the Management must be sought if there is any doubt regarding this issue.
Facilitation Payments (“FP”)
Usually small bribe payments (usually paid to low-level officials) made directly or indirectly to secure or speed up performance of a routine or to avoid bureaucratic delays and red tapes that may slow down certain business dealings.
In any case, employees must never pay, offer, solicit or receive bribes of any forms including facilitation payments, employee immediately notify immediate superior for consultation. For any above cases, the documents need to be shown to the immediate superior and to be kept properly.
Political Contribution
In respect of political contributions, funds or resources of the Company must not be used to make any direct or indirect political contributions on behalf of the Company without approval from the BOD. Any appearance of making such contributions or expenditure to any political party, candidate or campaign, must also be avoided.
Donations
Donations in the form of charity may be permissible depending on the circumstance but should be made directly to an official entity and be able to be disclosed publicly when required to.
Record Safekeeping
All record should be in proper filing to be maintained with accuracy and completeness for all payments made to third parties in the ordinary course of business which is prove as evidence that such payments not linked to corrupt and/or unethical manner.
Reporting
Employees should report any cases of wrongdoing or a violation of the Policy is encouraged to report using whistle-blowing channel via dcc@taicrest.com immediately. Investigation would carry out upon receiving report of violation.Note: Failure to comply with this Policy may lead to Employees being subject to disciplinary action, up to and including dismissal.
Review of The Policy
The BOD will monitor compliance with the Policy and review the Policy at least once every 3 years to assess their effectiveness and ensure that it continues to remain relevant and appropriate.
