6.1 As a general principle, the Group’s directors and employees are prohibited to ask, accept, offer or/and give gift for personal benefits to avoid conflict of interest or the appearance of conflict of interest. He/she should refrain from taking advantage of his /her position or exercising his/her authority to further his/her own personal interest at the expense of the company.
6.2 Gifts offered or received, will only be acceptable if they are: –
- Not intended to influence;
- Provided in accordance with this Policy.
The Group is well aware that the exchange of gifts can be a very delicate matter whereby in certain cultures or situations, gift giving is a central part of business etiquette . Refusal to accept the gift from another party or not providing such gift to another party may affect the Group’s business relationship with them. Receiving/accepting a gift or providing the gift on behalf of the Group is allowed only in limited circumstances as stated in 6.6 below.
6.3 Directors and employees are expected to immediately declare the gift (monetary and non-monetary) based on the following limits: –
- Receiving gift: RM1,000 and above or
- Providing gift: RM1,000 and above
Provided in the Declaration of Gifts Received or Provided respectively. This declaration form will be submitted to Managing Director who will then highlight to the Head of Department or Top Management for them to note and decide on the course of action. The type of gifts and decisions made are recorded in the Gift Register maintained by Human Resources Department.
6.4 In the event the gift is accepted, the Head of Department or Top Management must determine the treatment of the gift whether to: –
(a) donate the gift to charity; or
(b) hold it for departmental display; or
(c) share with other employees in the department; or
(d) permit it to be retained by the director/employee.
6.5 In determining the above, the Head of Department or Top Management are expected to exercise proper care and judgment in each case, taking into account pertinent circumstances including the character of the gift, its purpose, the position/ seniority of the person(s) receiving the gift, the business context, reciprocity, applicable laws and cultural norms.
6.6. Exceptions to the general rule on receiving and provision of gifts are permitted in the following situations: –
(a) exchange of gifts at the company-to-company level (e.g. gifts exchanged between companies as part of an official company visit/courtesy call and thereafter said gift is treated as company property);
(b) gifts from company to external institutions or individuals in relation to the company’s official functions, events and celebrations (e.g. commemorative gifts or door gifts offered to all guests attending the event);
(c) gifts from the company to directors and employees and/or their family members in relation to an internal or externally recognised company function, event and celebration (e.g . in recognition of an employee’s/director’s service to the Group);
(d) token gifts of nominal value normally bearing the Group’s logo or (e.g. t-shirts, pens, diaries, calendars and other small promotional items) that are given out equally to members of the public, delegates, customers, partners and key stakeholders attending events such as conferences, exhibitions, training, trade shows etc. and deemed as part of the company’s brand building or promotional activities; and
(e) gifts to external parties who have no business dealings with the Group (e.g. monetary gifts or gifts in-kind to charitable organisations).
6.7 In the above exceptional circumstances, directors and employees are expected to exercise proper judgment in handling gift activities and behave in a manner consistent with the general principles set out in the Group’s Code of Conduct as follows: –
- adhere to the highest standard of integrity and behaviour;
- avoid conflicts of interest;
- comply with applicable laws, regulations and company’s policies and procedures, and reporting on any non-compliance.
6.8 Any gift that falls within the categories below is not permissible and must be declined: –
(a) any gift of cash or cash equivalent in the form of vouchers, discounts, coupons, shares and commission etc.;
(b) any gifts involving parties engaged in a tender or competitive bidding exercise;
(c) any gifts that comes with a direct/ indirect suggestion, hint, understanding or implication that in return for the gift, some expected or desirable outcome is required;
(d) any gift that would be illegal or in breach of local or foreign bribery and corruption laws; and
(e) any gift which is lavish or excessive or may adversely affect the reputation of the company.
If any director or employee receive a request for a bribe or if you are offered a bribe, he/she must report it to your Head of Department or the Compliance Officer.