Establishment of MSMWhistleblowing Channel (System) & Committee On 25 May 2021, the Board has approved the establishment of Whistleblowing Channel (System) & Committee in MSM Malaysia Holdings Berhad and its group of Companies for implementation. Previously, MSM adopted FGV whistleblowing reporting channel & committee, being managed by FGV Whistleblowing Secretariat. The channel which allows reporting of any allegations of misconduct within the Group is also a preventive measure against unethical conduct. The channel thereby supports MSM to maintain the highest standard of ethical and legal conducted within the Group. MSM External Gift Entertainment and Hospitality Policy MSM Group recognises that the giving and accepting of gifts, entertainment and hospitality can be part of building normal business relationships. The aim of the Policy is to ensure that the highest standards of integrity are maintained and that it can never be suggested that there was an improper motive behind the offer or acceptance of the gift, entertainment and hospitality will unduly influence the recipient. The policy was approved by the Board. MSM Referral Policy On 25 August 2021, the Board has approved the establishment of MSM Referral Policy. The purpose of this policy is to establish the rules and principles for referrals on criminal cases including but not limited to fraud, bribery and abuse of power to Enforcement Agencies. This policy provides guided parameters to ensure that referral protocols are adhered to in relation to when the information is received, the results of investigation and any other matters related to it. MSM Conflict of Interest Policy On 25 August 2021, the Board has approved the establishment of MSM Conflict of Interest Policy. All employees and third parties of MSM Group shall act, at all times, in the best interest of MSM Group and not based upon their personal interest. Employees must not put themselves in a position where they are involved in an activity for personal gain, to themselves, their ‘relative’, ‘associate’ or third parties, or any activity that conflicts with MSM Group’s interest. MSM Code of Business Conduct and Ethics (CoBCE) Policy for Employees On 25 November 2021, the Board has approved the revision of MSM CoBCE Policy. The MSM CoBCE Policy guides our employees in embracing the Group’s values and in complying with applicable law and regulations through honest, transparent and ethical business practices. The MSM CoBCE Policy covers areas such as compliance, integrity, conduct in the workplace, business conduct, protection of the Group’s assets, confidentiality and conflict of interest. Authority and Responsibility Organisation Structure The Group has a comprehensive organisational structure which organises its business operations. The organisational structure provides clear lines of reporting, authority and segregation of duties, which promotes ownership, accountability, and delegated authority. Limits of Authority (LOA) A documented Limits of Authority (LOA) with clear lines of accountability and responsibility serves as a tool of reference to identify the appropriate approving authority at various levels of management including matters that require the Board’s approval. The new LOA of MSM Group was approved and subsequently implemented effective 23rd November 2020. Job Description Each role in the organisation structure is supported by clear description of job responsibilities which are linked to the vision and goals of the Group. A well developed and effective job description has been designed for clarity of responsibilities and relationship between functions which will enhance collaboration across the Group moving towards operational efficiency besides supporting the succession planning. It can retain and motivate the best talents by ensuring that employee’s engagement and helps drive high performance culture. SUSTAINABILITY JOURNEY HOWWE ARE GOVERNED FINANCIAL STATEMENTS ADDITIONAL INFORMATION 261
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