Anti-Corruption Policy

ANTI-CORRUPTION POLICY

 
1. PRINCIPLE
The purpose of this Policy is to set out Amcorp Properties Berhad and / or its subsidiaries’ (collectively “Amprop”) principles and position on all forms and matters of corruption that might confront Amprop.

Amprop forbids any act of corruption regardless of its form as it has an adverse effect on the communities where such misconduct takes place. Amprop’s directors, employees and business partners should never engage in any form of corruption.

 
2. BOARD OVERVIEW AND COMMITMENT 
The Board is responsible for the proper stewardship of Amprop. The Board is to uphold the value of good corporate governance by continuously advocating transparency, accountability, integrity and responsibility to enhance long term shareholders’ value and safeguarding the stakeholders’ interests.

The Board is committed to observe high standards of business, professional and ethical conduct, whether acting in their own capacity or on Amprop’s behalf.

Any violation of this Policy by any Director, employee or business partner will be regarded as a serious matter by Amprop and subjected to disciplinary action, which may include termination or being reported to the relevant authorities.

 
3. CONFLICT OF INTEREST 
Directors are expected to avoid conflict of interest with Amprop in personal and professional capacity, Directors shall disclose and abstain from voting on matters of material personal interest. Employees must disclose any relationship with business associates / partners to avoid any unnecessary misunderstanding / dispute.

 
4. RISK MANAGEMENT 
Amprop must maintain a risk management framework to identify, analyse, evaluate and monitor significant financial and non-financial risks, including corruption risks, that may affect Amprop’s business.

 
5. GIFTS, ENTERTAINMENT AND HOSPITALITY 
Directors, employees and associated persons should uphold the highest standards of business ethics, respect local laws and not engage in any form of corruption, bribery, fraud or facilitation payments. Amprop’s policy for its Directors, employees and business partners is not to give or receive gifts. Amprop’s Directors, employees and business partners must not seek to influence others or to be influenced by others by giving or receiving gifts and / or hospitality.

Employees must disclose to Group Human Resources any gifts they have received in accordance with Amprop’s procedures.

 
6. POLITICAL CONTRIBUTION AND FACILITATION PAYMENT 
Political donation is strictly prohibited, unless permitted by law and approved by the Board of Directors. Facilitation payment (payment made to secure or expedite the performance of a routine or necessary action to which the payer has legal or other entitlement) is strictly prohibited.

 
7. BUSINESS PARTNERS 
Amprop strives to build and strengthen its relationships with Business Partners. The Code of Conduct for Amprop Business Partners (“CoCABP”) must be communicated to our Business Partners to ensure that Business Partners adhere to industry best practice and accepted standards of behaviour. The CoCABP must also be published on Amprop’s corporate website.

Business Partners include all joint venture partners, strategic business partners, suppliers, service providers, bankers, professional consultants and agents.

 
8. TRAINING AND COMMUNICATION 
This Policy must be published on the Company’s corporate website and communicated to all employees. Employees must be given appropriate training to implement anti-corruption compliance programs.

Amprop’s stand on anti-corruption must also be communicated to its clients through various communication channels.

 
9. MONITORING AND REVIEW 
Management must design, operate and monitor suitable internal controls to mitigate and control corruption risks. Amprop must have an internal audit framework to review the effectiveness of management’s actions.

 
10. WHISTLEBLOWING / REPORTING CHANNEL 
Amprop must have a Whistle Blowing Policy and must design, operate whistle blowing channel to enable any complainant to lodge a report on corruption related matters. The Policy must prohibit retaliation against those making reports in good faith.

 
11. REVIEW OF THIS POLICY 
This anti-corruption policy was approved by the Board on 28 May 2020. Any subsequent amendments to the policy must be approved by the Board. The anti-corruption policy must be reviewed by the Board at least once every 3 years, or in accordance to the need of Amprop and any new regulations that may have impact to stakeholders affected by this policy. 
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