Anti-Bribery and Anti-Corruption Policies & Procedures
1. OVERVIEW
BCT ASIA ADVISORY SDN BHD (“BCT Asia” or “Company”) is committed to act professionally and with integrity in all its business relationships. The Company has zero tolerance towards any acts of corruption or bribery.
Corruption is defined as a dishonest and fraudulent conduct by people in positions of power or with authority entrusted to them by the Company, in soliciting for monetary and/or non-monetary rewards privately.
Bribery is defined as an act of offering monetary and/or non-monetary rewards to influence the judgement of conduct of a person to do something of unfair advantage.
This Policy outlines the adequate procedures the Company has in place in its commitment against corruption and bribery :
- Assert the Company’s strict stance towards any acts of corruption and bribery
- Create awareness to all staff against corruption and bribery and the consequences for any violation
Make known to staff of their responsibility to report suspected cases of corruption or bribery to the top management or the board of directors.
2. BACKGROUND
Malaysia Anti-Corruption Commission (MACC) in 2019 had established a new provision (Section 17A) in the MACC Act 2009 which will be effective from June 2020 to enable the prosecution of commercial organization involved in corruption.
Section 17A was passed in the Parliament on 5 April 2018, enacted to enable commercial organization involved in corruption activities to be subjected to legal action. Commercial organization could be prosecuted if a person associated with the organization commits a corrupt act to enable the organization to acquire or retain a contract or interest. Additionally, the provision also requires a commercial organization to create policies and established efforts to prevent corruption in the organization.
In conjunction with the amended Act, the Prime Minister’s Department issued a Guidelines on Adequate Procedures that highlights the 5 Guiding Principles : TRUST.
a) T: Top Level Commitment
The Board of Directors and Senior Management of BCT Asia are responsible for establishing a culture of zero-tolerance towards bribery.
b) R: Risk Assessment
Risk Assessment serves as the foundation of the composition of the anti-bribery programme and gives a systematic view of where the risk of bribery and corruption lies within BCT Asia.
c) U: Undertake Control Measures
Policies, procedures and controls must be introduced to mitigate the corruption risks within BCT Asia as defined by the risk assessment.
d) S: Systematics Reviews
Regular reviews and audits must be conducted to assess the effectiveness of the programme within BCT Asia
e) T: Training and Awareness
All employees will need to undergo training to ensure employees are equipped with the skills needed to deal situations in which they may encounter corruption. Awareness of our commitment to the anti-bribery programme must also be communicated to all our employees and associates.
Following this new Section 17A in the MACC Act 2009, we introduce an Anti-Bribery and Anti-Corruption Policy with an accompanying Whistleblowing Policy to have better controls and to mitigate the identified bribery and corruption risk within BCT Asia.
3. AUDIENCE OF DOCUMENT
The intended audience of this document is as follows :-
| Audience | Application of the Document |
|---|---|
Board of Directors | The Board of Directors are responsible in approving this policy and delegates the responsibility of overseeing the implementation and reviewing of this policy to Senior Management. |
BCT Asia Staff & Senior Management | BCT Asia’s staff will need to understand and comply with the Anti-Bribery & Anti-Corruption Policy in place in the company. Senior Management of BCT Asia will oversee the implementation, review and use of this document as a basis for all staff to be guided and follow strictly so as to conform to the requirements of this anti-bribery & anti-corruption policy. |
4. VIOLATIONS
Violations of this policy by staff will incur disciplinary measures that may lead to termination of service and not dispelling that the matter may be further escalated to the appropriate authorities for criminal actions to be taken against the erring person.
Violation of this policy by business associates and third party will result in their appointment being terminated and possible criminal actions taken against the erring party.
5. ANTI-BRIBERY AND ANTI-CORRUPTION POLICY
5.1 Based on the Guidelines on Adequate Procedures, MACC Act 2009 and business best practices, the Anti-Bribery and Anti-Corruption Policy aims to set out BCT Asia’s responsibilities to combat and comply with laws against bribery and corruption and to provide information and guidance to the employees of BCT Asia on how to recognize and deal with issues related to bribery and corruption.
5.2 The policies are as follows :-
a) General Policy
The Board of Directors, Senior Management, and all employees of BCT Asia are required to adhere to this policy.
Every employee of the company should have access to a copy of this policy which may be included in existing communication mechanisms for policy dissemination (Intranet).
Clients, Suppliers or Third Party and business associates should also be made aware of the importance of BCT Asia’s anti- bribery & anti-corruption policy through communicating the policy to them where needed.
b) Top Level Commitment
Section 17A of MACC Act put emphasis on the responsibilities of the Board of Directors and Senior Management of commercial organisation with regards to their role in establishing a culture of zero-tolerance of bribery and corruption. Establishing a s strong tone from the top is critical to developing and maintaining the ethical integrity within the organization, and this policy highlights the commitment made by BCT Asia’s Board of Directors and Senior Management to ensure continuous effectiveness of the programme by highlighting their role and responsibilities.
In summary, the Board of Directors and the Senior Management will take responsibility for the continuous promotion of the culture of high integrity and to ensure the effectiveness of the anti-bribery and anti-corruption programme by continuously monitoring, auditing and reviewing the processes and procedures put in place.
c) Risk Assessment
A risk assessment process serves as the foundation for the composition of an adequate anti-bribery and anti-corruption programme. The risk assessment allows BCT Asia to have systematics view of wherein lies the risk of bribery and corruption and as such, gives a clear perspective on how to design the policies and procedures to mitigate these risks.
As such, BCT Asia will perform an annual and continuous risk assessment process, as and when there are major changes to the organization to effectively combat the changing conditions and risks associates with the bribery and corruption.
d) Undertake Control Measures
The mitigation of bribery and corruption risks is addressed under the control measures. There include, amongst others, policy on gift and entertainment, internal controls relating to gift and entertainment, charitable contributions, sponsorship and procurement.
In observing and conforming to requirements to ensure strict adherence so as not to violate any law or guidelines, the following are to be observed and to be adhered to strictly.
When dealing with our Clients, Suppliers or any Third Party who has mutual business interest with BCT Asia:
i) | The Parties undertake that neither the Party nor any party acting on the Party’s behalf, has offered, promised, given, authorised, requested or accepted any undue financial or other advantage of any kind or in any way connected with any purpose nor has either Party made any improper payments to or received from any person, including officials in the public or private sector, customers, suppliers and/or any other person related to or affiliated with the other Party, with the intention of influencing any act or decision where either Party is involved in or securing any improper business advantage for either Party. |
ii) | The Parties shall throughout the course of the business relationship, comply with and take reasonable measures to ensure that any other parties acting on the Party’s behalf complies with all applicable laws, statutes and regulations relating to anti-bribery and anti-corruption. |
iii) | The Parties shall maintain in place throughout the course of the business relations, the Party’s own policies and procedures to ensure compliance with anti-bribery and anti-corruption laws, statutes and regulations including the maintaining of detailed and accurate accounting records of transactions. |
iv) | The Parties immediately report to the other Party in the event any offer, request or demand for any undue financial or other advantage of any kind is made by or received from any party acting on the Party’s behalf and/or from any officials in the public or private sector, customers, suppliers and/or any other person related to or affiliated with either Party. |
In the Company’s business relationships with its business partners and customers, and third parties such as consultants and suppliers:
All employees are not to engage in making payments or transfers or the promise of payments and transfers of monetary or non-monetary value; receiving or accepting any monetary or non-monetary advantage; permitting or authorizing the acts mentioned which has the effect of being an unlawful or improper means of obtaining or retaining business, commercial advantage, or the improper fulfillment of any function or activity.
Gifts and Entertainment
All benefits, including gifts, invitations and entertainment, must be accepted or given in good faith and must be reasonable in value :
i) | Such benefits are accepted or given in good faith to improve the image of the Company and to improve the cordial relationship with the party concerned |
ii) | Such benefits must be proportionate to the occasion and it must not be felt that an unfair advantage has been gained |
iii) | Gifts should not be in cash and not give the appearance of being a bribe or a payoff |
iv) | Gifts should be accepted or given openly and transparently, and not embarrass the Company should the gifts be disclosed publicly |
Donations and Sponsorship
The donations or sponsorship given must not be used as a trickery to conceal bribery.
Ensure donations to charities or beneficiaries given are not disguised as illegal payments to public officials or conduit to fund illegal activities. All donations and sponsorship must adhere to the following:
- Ensure such contributions are allowed by applicable laws;
- Be accurately reflected in the company’s accounting books and records.
All donations, charitable contributions and sponsorships must also be made in good faith and in compliance with the Policy.
e) Systematic Review, Monitoring & Enforcement
Review should be conducted to ensure the continuous efficiency and effectiveness of the anti-bribery and anti-corruption programme. The results of the reviews must form the basis of any further efforts to improve and strengthen the existing controls in place. These reviews will be conducted annually by the Board of Directors and Senior Management, and the findings will be used by the Senior Management to improve on any shortcomings within the programme.
Independent third party/expert may be used to conduct objective assessment as to effectiveness of the Anti-Bribery and Anti-Corruption framework.
Appointed Associate Director is the designated person (“PIC”) responsible to report directly on bribery and corruption issues to Board of Directors.
f) Training and Awareness
Communication | The Company’s zero-tolerance to corruption and bribery must be communicated to all staff and customers and third parties such as consultants and suppliers in its normal course of business. Various mediums, such as the website, emails, etc, will be used to ensure maximum coverage of communication. These efforts include, amongst others :
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Training | Regular training is to be provided to all staff to reinforce their awareness, strict adherence to and the consequences of any violations of the Policy. All employees, including the Board of Directors and Senior Management must undergo training annually. Training is fundamental to provide employees with the skills needed to deal with situations in which they may encounter corruption. New recruits, including contract/temporary staff and interns, will have to undergo anti-bribery and anti-corruption training during their orientation as well. |
g) Reporting
Reporting of bribery/corruption acts | Any act of bribery or corruption should be reported according to the Whistleblowing Policy |
Reporting to the Board | The Senior Management will continuously report to the Board of Directors as and when there are new developments pertaining to the programme, including results of audits, newly done risk assessments and any reviews. |
Reporting Channel | Any real and/or suspected cases of bribery or corruption may be reported to our confidential reporting channel at the following email address: |
5. STAFF RESPONSIBILITIES
All staff should be made aware of the importance of the anti-bribery & anti-corruption policy, which would be disseminated to every employee of the Company. All staff must strictly adhere to and comply with the Policy.
Any violations of this policy are deemed as serious and will incur disciplinary measures that may lead to termination of employment. Corruption and bribery are criminal offences. Such matters may also be further brought to the relevant authorities where criminal actions may be taken against the person involved in violation of anti-corruption or anti-bribery law.
Employees are encouraged to raise concerns or speak out against any suspected cases of bribery and corruption committed by staff in the Company directly to the top management or board directors soonest possible, in confidence and without any fear of retaliation.
7. RECORD-KEEPING
BCT Asia must keep all financial records as evidence of business reasons for making payments to third parties.
All expense claims relating to hospitality, gifts or entertainment incurred to third parties are to be submitted for approval by the directors with full disclosure of the occasion and parties involved.
All accounts, business contracts. invoices and other documents and records relating to dealings with business partners, customers and third parties including consultants and suppliers should be prepared and maintained with accuracy and completeness.
