Corporate Integrity Policy
Chief Executive Officer Foreword
PKNS Real Estate Sdn Bhd (PREC) is a company that highly values accountability, honesty and integrity.
We commit to:
- Conducting our business dealings in a fair, honest and transparent manner;
- Never offer or accept bribes, or participating in any form of corrupt practices as defined in the Malaysian Anti-Corruption Commission Act 2009 (Act 694);
- Reporting to the relevant authorities if we are offered, induced to/or forced to take/give bribes;
- Providing full and consistent support and assistance to the appropriate authorities in the fight against corruption.
These policies apply universally to the management and employees of PREC and its affiliated companies, in line with Malaysian anti-corruption laws. The general principles and prohibitions also apply to consultants and other third parties working on behalf of PREC, as well as contractors, suppliers, partners and others we do business with.
Tuan Sr. Haji Fakru Radzi Ab. Ghani.
Corporate Integrity System Policies and Procedures
Giving Gifts (Corporate Gifts)
Corporate gifts: A gift given from one organisation to another, to and from appointed representatives of each. The gifts are given openly. Examples: Corporate diaries, Calendars, pens and festive gifts. No gifts of cash, cash equivalents or loans allowed. If gift likely to create sense of obligation – do not give.
Receiving Gifts (Corporate Gifts)
Personal gifts: Items given to or received by an individual, by his/her spouse or by any other third party acting on behalf of the individual. Cash, cash equivalents and loans must be rejected. Gifts to personal addresses are prohibited. If gift likely to create a sense of obligation – Reject.
Hospitality: Cordial reception or disposition towards an individual, which might include entertaining guests in resorts, restaurants, conventions, concerts, sporting events, and other special occasions. For business purposes only. Do not provide hospitality if likely to create sense of obligation.
Do not accept hospitality if likely to create sense of obligation. Pre-approval from CEO is needed if Hospitality not directly related to the business where non-business guests are invited.
Prohibitions for giving & receiving
- Unregulated violent sports.
- Any unlawful or illegal activities against the Malaysian Law
- Any non-compliance activities against the Shariah Law
- Any other activities prohibited under Human Capital policies and procedures
Donations, financial or in kind, given for the purpose of supporting a worth and needy cause, through a registered charity. Prohibited donations: Politically linked and made to secure a business deal.
Financing part of a project or event strictly on a commercial basis, carried out by another person or organisation, in return for advertisement and promotion.
Contributions, financial or in kind, given for the purpose of supporting a political cause. No political contributions permitted including secondment of staff to political parties.
Payment to expedite the performance of routine official action. As per MACC Act: Facilitation payments = Bribe.
A support letter is a request from an influential individual asking for special privileges to be given to a specific individual, company or organization. Support letters received in any form are banned, including verbal requests, phone calls, emails, SMS, etc.
PERSONAL INTEGRITY STATEMENTS (Integrity Pledge)
Annual declaration to the company by all employees. Reminder of the company’s zero tolerance towards corruption.
A formal agreement between PREC and contractors/ suppliers / consultants which establishes rights and obligations between parties and provides privately enforceable sanctions in case of violation.
Objectives of the Integrity Pact
- Abstain contractors / suppliers / consultants from corruption and malpractices.
- Fair, transparent and equal opportunity to promote healthy competition free from corruption.
- Helps suppliers to channel funds into products & services, not bribes.
- Enhance confidence in the company’s procurement system.
- Improves the overall integrity of Malaysia as a nation
Disclosure by a person of mismanagement, corruption, illegality or other wrongdoings such as:
- Corruption, bribery, blackmail
- Criminal offences
- Failure to comply with legal or regulatory obligations
- Miscarriage of justice
- Endangering the health and safety of an individual
- Endangering the environment
- Concealment of any of the above
ii) PKNS Real Estate Sdn Bhd