It is the Board’s policy to promote cooperation between the Company and its stakeholders to strengthen the Company’s performance.
To this end, the Board shall promote engagement and be vigilant of stakeholders’ interests pursuant to their legal rights. The Company’s stakeholders are, namely, its shareholders, customers, trade partners, competitors, debtors, employees, local communities and society, the environment, and the government.
RESPONSIBILITY TOWARDS STAKEHOLDERS
- Shareholders The Board of Directors shall perform its duties responsibly, prudently, earnestly, and honestly to generate continuous, sustainable, and good returns on investment for shareholders.
- Customers Understanding that customer satisfaction and confidence are critical factors that contribute to the Company’s sustainable success.
- Partners The Board of Directors shall treat trading partners equitably and take into account mutual interests.
- Competitors The Board of Directors shall ensure that the Company operates its businesses in accordance with the legal provisions.
- Creditors The Board of Directors shall make certain that the Company operates in a principled and disciplined manner in order to build trust among creditors.
- Employees Regarding employees as a valuable resource and a key factor in the Company’s success.
- Community and Society The Board of Directors shall operate the Company’s businesses with due regard to the duties and responsibilities owed to the nation, community, and society, as well as local traditions, in order to maintain social order.
- Environment The Board of Directors shall undertake businesses with due regard to the Company’s responsibilities towards the environment.
- State Sector To make sure that the Company operates in conformity with the rules and regulations enacted by the State.
CONFLICT OF INTEREST
To deal with conflicts of interest or connected transactions shall be administered prudently, fairly, and rationally. There shall be a transparent system for approving transactions that takes into account the Company’s best interests. Directors and executive officers shall be required to disclose their and related persons’ interests in accordance with the prescribed rules.
RECEIVING OR GIVING A MEAL OR GIFT
the Board of Directors aspires to operate within the framework of fair competition, it understands that receiving or giving a meal or gift is sometimes a necessary customary practice that fosters good relations. In this regard, the Board shall adopt the following guidelines:
- A gift, token, or meal that may influence a decision shall always be prohibited. If it is customary to give or to receive a gift, token, or meal whose value is in excess of normal practices, a report shall be filed to the respective supervisor.
- In the case of an assignment or authorization by a supervisor to assist with an external agency, a sum of money, an object, or a gift may be received in accordance with the applicable rules or standards prescribed by that external agency, e.g. gifts, presents, and lucky draw prizes.
- In the case where an agent, contractual party, partner, or any other person wishes to offer a gift, token, or meal in the name of the Company, prior authorization from the Company shall always be required.
- Expenses pertaining to these matters shall be maintained within a reasonable budget.
ANTI-FRAUD AND ANTI-CORRUPTION EFFORTS
It is the Board of Directors policy to comply with anti-corruption laws. In this regard, create consciousness, values, and attitudes for employees in performing their duties according to the law, rules with integrity. An efficient and effective internal control system shall be put in place. There shall be suitable supervision and a system of checks and balances to prevent employees from being involved in fraud and corruption. Directors, executive officers, and employees shall be prohibited from performing any act that amounts to a demand or acceptance of any property or any other benefit, whether for themselves or for others, as an inducement to wrongfully perform or refrain from performing a duty or to act in a way that could result in a loss to the Company’s legitimate benefits.There shall be a transparent and accurate financial reporting system. There shall be a channel for employees and related persons to provide notices of causes for suspicion with confidence of protection.
NON-INFRINGEMENT OF INTELLECTUAL PROPERTY
Pursuant to the Non-Infringement of Intellectual Property Policy, Business undertakings shall be consistent with laws, regulations, and contractual obligations governing intellectual property rights. Intellectual property works of the Company shall be safeguarded. Such intellectual property shall not be used or allowed to be used by outsiders without authorization. The intellectual property rights of others shall be respected. The works of others shall not be infringed upon or applied to personal use except when a license has been obtained or a fee paid to the owner of the work.
NON-VIOLATION OF HUMAN RIGHTS
With a great deal of respect for human rights, there shall be no activities or support for activities that violate human rights. Employees shall be provided with knowledge and understanding of human rights, which shall be applied to their respective functions. There shall be no limitations to independence or differences in ideology, gender, race, religion, politics, or other matters. Nonetheless, expressing an opinion that could cause conflicts or divisions shall be best avoided. Channels shall be provided for employees or persons who believe that their personal rights have been violated or that they have been treated unfairly to file a complaint with to Company. Such complaints shall be heeded and processed fairly.
OCCUPATIONAL SAFETY AND HEALTH
Attaching importance to occupational safety and health, business undertakings shall comply with safe and healthy work environment laws, regulations, and policies with due regard to the safety of life and property, as well as to the impact on the health of employees, trading partners, and stakeholders. Regular monitoring and safety assessment shall be conducted. Occupational safety shall be promoted. Work regulations, procedures, and standards shall be prescribed according to the level of risk. The safety of the working condition, work environment, and work procedures shall be improved. Protective tools and equipment shall be provided to employees.