Anti-Bribery and Corruption Policy

1.     Introduction

Integrity is our core value and the guiding principle of our decisions and actions in the workplace. Partners Corporate Services Sdn Bhd (“the Company”) is committed to doing our business in a fair, open, honest, and transparent manner. The Company practices high ethical standards in everything that we do.

Bribery and corruption compromise business ethics and damages an organization’s reputation. As such, the Company strongly opposes any practice that improperly or illegally disrupts proper business conduct.

This Anti-Bribery and Corruption Policy (“ABAC Policy”) provides a clear statement of the conduct which is expected of the Company’s personnel. This policy also applies to any third party who performs services for and on behalf of the Company.

 2.      Objective

The Board of Directors of the Company is committed to complying with the anti-bribery and corruption laws in Malaysia, and also other anti-bribery and corruption laws in all the countries that the Company operates. Thus, this ABAC Policy has been developed with the purpose of fulfilling the said legal and regulatory requirements and sets out the Company’s overall position on bribery and corruption in all forms, such as dealing with third parties, managing conflicts of interest, gifts, hospitality, and whistleblowing.

Ultimately, the objective of this ABAC Policy is to provide guidance for our personnel and business associates and assist them to identify and deal with bribery and corruption issues, as well as understanding their roles and responsibilities.

This ABAC Policy should also be read together with other policies and procedures, such as the Company’s Code of Ethics and Professional Conduct.

3.       Scope

This ABAC Policy applies to:

• directors (both executive and non-executive), officers, employees of the Company (including permanent, part-time, and contract (fixed-term) employees), and volunteers (“Personnel”);

• any third party (person or entity) who performs services for or on behalf of the Company. This includes actual and potential clients, customers, outsourcing providers, contractors, consultants, sub-contractors, suppliers, vendors, agents, distributors, representatives, intermediaries, and shareholders (“Business Associates”); and

• any companies related to the Company.

 4.      Definitions

For the purpose of this ABAC Policy:

•  Bribery means the act of giving or receiving ‘gratification’ in exchange for some kind of influence or action in return, that the recipient would otherwise not offer.

•  Chief Risk Officer refers to the Compliance Officer of Partners Corporate Services Sdn Bhd.

•  Company means Partners Corporate Services Sdn Bhd.

•  Corruption is the abuse of entrusted power for personal gain. Essentially, it is the act of giving or receiving of any gratification or reward in the form of cash or in-kind of high value for performing a task in relation to his/ her job description.

•  Facilitation Payment is a payment or other provision made to or received personally from a third party in control of a process or decision, in order to secure or expedite a routine or administrative duty or function.

•  Gratification refers to “something of value” which includes, but not limited to money, donation, gift, loan, fee, reward, valuable security, information, property or interest in property, employment, appointment, release, forbearance, undertaking, promise, rebate, discount, services employment or contract of employment or services and agreement to give employment or render services in any capacity.

•  MACC Act means the Malaysian Anti-Corruption Commission Act 2009 (including its amendments).

 5.      Anti-bribery and Corruption Statement

The Company takes a zero-tolerance approach to all forms of bribery and corruption and shall continuously conduct its business activities ethically, honestly, and with high standards of integrity.

Since the provisions in this ABAC Policy are based on legal requirements, violating this policy may subject individuals and the Company to penalties, including fines and imprisonment. Such violations may also severely damage the reputation of the Company and its Personnel. As such, Personnel and Business Associates shall not, whether directly or indirectly, offer, give, receive, or solicit any item of value, in an attempt to illicitly influence the decisions or actions of a person in a position of trust within an organization, either for the intended benefit of the Company or the persons involved in the transaction.

The anti-bribery and corruption statement applies equally to the Company’s business dealings with Government (public sector) and commercial (private sector) entities and includes their directors, employees, agents, consultants, representatives, and other appointed representatives such as officials, politicians, and public bodies.

The Company shall also conduct due diligence on every Personnel (including prospective personnel), Business Associate, project, and major business activities including donations and sponsorship, in particular where there is significant exposure to bribery and corruption risk, in line with this ABAC Policy.

The Company encourages Personnel and Business Associates to report any suspected, attempted, or actual bribery and corruption cases, and prohibits retaliation against those making reports in good faith. The Company also provides assurance that no Personnel shall be penalised or suffer any adverse consequences in retaliation for refusing to pay or receive bribes or participate in other illicit behaviour.

 6.      Principles on Anti-bribery and Corruption

 6.1      Conflict of Interest

Conflict of interest may arise in situations where Personnel engage in business or other activities outside the Company or have personal interests, whether it benefits themselves or their closely related person(s), i.e. relatives or close associates, which competes or conflicts with the interests of the Company.

Employees must obtain written approval from the Managing Director of the Company before undertaking activities that may give rise to a conflict of interest.

All Personnel shall declare their conflict of interest, both on a scheduled basis, and ad hoc as soon as they arise.

 6.2     Gifts and Hospitality

6.2.1    GENERAL

 (a) Any gift must be unsolicited and not affect or be perceived as affecting business judgment. Gifts should only be offered to and received in connection with a customary business or cultural occasion. Cash, loans, kickbacks, or equivalent advantages are absolutely prohibited.

(b) Generally, Personnel may accept or offer gifts and hospitality ONLY where they are:

• Infrequent (less than 4 times a year with the same person);

• reasonable and not excessive (the value must be approved in accordance with the limits set by the Company from time to time);

• where there is no risk that they will improperly influence or be seen to improperly influence a decision; and

• disclosure of the gifts and hospitality are recorded in the Company’s “Gifts Records”.

(c) The general limits on the value of hospitality must not exceed RM150 (for non-management), RM250 (for managers and executives), and RM600 (for Directors).  The general limits may be varied with the approval of the Board of Directors, especially where the hospitality takes place outside Malaysia. Spouses or other guests of the invitee must not be included.

(d) Under no circumstances can gifts or entertainment of any description be offered to:-

•  any government official

•  any person working for any Regulator in Malaysia

•  procurement Teams of any existing or potential clients 

(e) Hospitality must be unsolicited and not affect or be perceived as affecting business judgment. Meals and entertainment should only be offered to and received from Personnel dealing with the customer or service provider in their role in the Company, is for purposes supported by the Company, and may only be offered in conjunction with legitimate business meetings.

 6.2.2 GIFTS AND HOSPITALITY RECEIVED

(a) The Company’s Personnel are prohibited from directly, or indirectly, receiving or asking for (soliciting) gifts, which include cash or cash equivalent in the form of gift certificates/vouchers or discounts or in any related forms. It is the responsibility of the Personnel to inform external parties involved in any business dealings with eh Company that the Company practices a “No-Gift” policy and to request the external party’s understanding to adhere to the said policy.

(b) Although the general principle is to immediately refuse and return gifts offered by the external party, accepting or receiving a gift on behalf of the Company may be allowed only under limited circumstances as follow:

• Corporate Gift not exceeding RM500 in a single receipt;

• Customary and lawful under the circumstances (eg. Food hampers during festivals);

• Do not have or are perceived to have (by either the giver or the receiver), any effect on actions or decisions.

• No expectation of any specific favour or improper advantages from the intended recipients;

• Independent business judgment of the intended recipients not affected;

• No corrupt/criminal intent involved; and

• Gifts and Hospitality are to be done in an open and transparent manner

(c) However, under no circumstances may a Personnel, his/ her closely related person(s), i.e. spouse(s), family members, relatives, or close associates accept gifts in the form of cash or cash equivalent. Cash or cash equivalents (including gift certificates, loans, commissions, coupons, discounts, or any other related forms) are STRICTLY PROHIBITED and must never be accepted, except if it is part of customary practice and this should be limited to a nominal value and reported to the Chief Risk Officer.

(d) As a general rule, all gifts accepted under this policy on behalf of the Company should remain on the Company’s premises so that the gift may be shared with other Personnel or for the Company to donate the gift to charity. Exceptions to this rule would be a modest personal gift such as flowers for a Personnel’s birthday.

 6.2.3 GIFT AND HOSPITALITY GIVING

(a) Personnel shall not offer or give a gift or hospitality if they are aware or suspect that it would be in breach of the rules of the organisation where the recipient works or if it is against local laws.

(b) The Company may give corporate gifts, i.e. bearing the Company’s logo/ identity and of nominal value for the purposes of promotions/ branding/ marketing. Any gift-giving or event of hospitality is subject to approval according to the authority limits specified in this Policy and shall fulfil the following conditions:

• They are limited, customary, and lawful under the circumstances;

• They do not have or are perceived to have (by either the giver or the receiver), any effect on actions or decisions;

• There shall be no expectation of any specific favour or improper advantages from the intended recipients;

• The independent business judgment of the intended recipients shall not be affected;

• There shall not be any corrupt/ criminal intent involved; and

• The giving out of the gift and hospitality shall be done in an open and transparent manner.

 (c) Personnel from the Company must be present (as the host) when providing hospitality. Otherwise, the expenditure is considered as a gift. 

6.3     Entertainment

Entertainment could be considered to be a bribe if it is given or received with the intention of influencing someone to act improperly, or as a reward for having acted improperly.

Personnel are STRICTLY PROHIBITED from either paying for or participating in any activities which are exorbitant, illegal and immoral such as lavish/ extravagant social functions not related to the Company’s business activities or entertainment from a business associate (including potential business associate) during the procurement process. 

6.4     Donations and Sponsorship

The Company allows charitable donations and sponsorships for legitimate reasons and as permitted by existing laws and regulations. However, the Company STRICTLY PROHIBITS the giving and receiving of donations and sponsorships to influence business decisions. 

6.5       Political Donations

 As a business, the Company is politically neutral. The Company does not have any political party affiliations and does not make political donations. 

6.6     Facilitation Payments

Facilitation Payments are classified as acts of bribery and corruption under the MACC Act and are illegal. As such, the Company prohibits the giving, offering, or promising of Facilitation Payments of all kinds by either Personnel or Business Associates acting on behalf of the Company. Personnel are also prohibited from receiving or requesting such payments whether in cash or in kind. 

6.7      Recruitment, Promotion and Support of Personnel

The Company’s recruitment, training, performance evaluation, remuneration, recognition, and promotion for personnel shall be designed and regularly updated to recognize integrity. The Company shall not offer employment to prospective personnel in return for their having improperly favoured the Company in a previous role. 

6.8    Business Associates

The Company is committed to conducting our business in a fair, transparent, and ethical manner. The Company will only do business with entities or individuals who share the same values as the Company and will uphold the Company’s principle of applying high ethical standards in our business dealings.

 7.      Anti-bribery and Corruption Compliance Function

The Company shall maintain an independent anti-bribery and corruption compliance function through the Managing Director in collaboration with the Board of Directors to oversee the design, implementation, management, and improvement of the Company’s anti-bribery and corruption policies and procedures (integrity programme).

 8.     Training and Awareness

The Company shall conduct awareness programmes for all Personnel on the Company’s position and practices regarding anti-bribery and corruption, integrity and ethics.

Training shall be provided on a regular basis, in accordance with the level of bribery and corruption risk related to the position and function.

 9.     Raising Concerns (Whistleblowing)

The Company strongly encourages reporting (whistleblowing) of real or suspected cases of bribery and corruption without fear of retaliation or reprisal.

The Company has established an avenue for the reporting of bribery, corruption, and other forms of misconduct, including violations of this ABAC Policy through designated secure channels, available to all Personnel and external parties including Business Associates.

The Company is committed to the enforcement of this policy and provides assurance that whistleblowers will not suffer any form of retribution, victimization, or detriment, so long as the reports are done in good faith (i.e. not done with malicious intent and without substantiation in order to damage another person or organization). Such protection is accorded even if the investigation later reveals that the whistleblower is mistaken regarding the facts, rules, and procedures involved.

 10.    Audit Review and Monitoring

The Managing Director is responsible for monitoring the adequacy and operating effectiveness of this Policy and shall review its implementation on a regular basis, including assessing its suitability, adequacy, and effectiveness.

Internal control systems and procedures designed to prevent bribery and corrupt gratification are subject to regular audits to ensure that they are effective in practice.

The Company may amend this ABAC Policy at any time so as to improve its effectiveness at combatting bribery and corruption. 

11.      Failure to Comply

The Company regards bribery and acts of corruption as serious matters and will impose penalties in the event of non-compliance with this policy. For Personnel, non-compliance may lead to disciplinary action, up to and including termination of employment.

For Business Associates and other external parties, non-compliance may lead to penalties including termination of contracts. Further legal action may also be taken in the event that the Company’s interests have been impacted by non-compliance by individuals and organizations.

 12.     Policy Owner

This ABAC Policy is owned by the Company. Any feedback or enquiries regarding the provisions of this policy should be directed to the Managing Director.