Delivering Sustainable Value For Our Stakeholders Delivering Sustainable Value For Our Stakeholders Press Metal Aluminium Holdings Berhad 104 105 Integrated Annual Report 2023 Upholding Good Governance and Economic Resilience HOW WE PERFORMED IN 2023 2022 2023 Percentage of operations assessed for corruption-related risks 57.1% 71.4% Percentage of employees that have received training on ABAC 79.3% 98.3% i. Senior Management 68.8% 70.9% ii. Management 77.0% 73.1% iii. Executive 63.7% 97.5% iv. Non-Executive 81.5% 99.5% Total number of ABAC training sessions conducted for business partners 0 5 Number of confirmed instances of bribery or corruption 0 0 Number of whistleblowing reports or complaints received 0 0 Notes: 1. Data collection only commenced in 2022. 2. The table above represented the aggregated data from all manufacturing facilities (PMBtu, PMS, PMAR, PMBA, PMI and PMIT) and our corporate headquarters (PMAH). GOING FORWARD We are committed to conducting business operations and internal practices with the best applicable standards of integrity, transparency and fairness. In doing so, we strive to foster a business environment characterised by sound corporate governance principles, in line with the requirements outlined in the MCCG 2021. Moving forward, we are committed to enhance our ethical business practices and increase awareness through training including e-learning platforms. Additionally, we will embed compliance into our business practices and adhere to all pertinent laws and regulations by implementing robust internal controls and closely monitoring our business processes and internal functions, thereby upholding high standards of integrity and transparency. In FYE2023, we did not receive any whistle-blowing reports and had zero (0) incidents of corruption, underscoring our commitment to a zero-tolerance approach pertaining to bribery and corruption. Additionally, we did not dismiss any employees or terminate contracts with any business partners in FYE2023 due to unethical behaviour. We maintain our commitment to assessing corruption-related risks within our operations, with 71.4% of our operations evaluated in FYE2023. This marks a 14.3% point increase compared to FYE2022. of employees have received training on ABAC 98.3% Upholding Good Governance and Economic Resilience OUR APPROACH Establishing Compliance Management We abide by the international laws and regulations governing our business operations. The key laws and regulations that we abide by in our areas of operation include, but are not limited to: Additionally, we adopt MCCG 2021 and Bursa Malaysia’s Sustainability Reporting Guide 2022 (3rd edition) as well as implement frameworks such as TCFD to address climate-related risks and opportunities effectively. The Group maintains dedicated legal administrators at respective entities that serve as the central point of access for legal requirements and continuously monitor and update legal-related developments into legal and compliance registers. They are also responsible for disseminating pertinent legal information to respective departments in various forms such as memos and electronic information hubs for further incorporation into policies, operational processes or standard operating procedures (“SOPs”). Subsequently, scheduled training sessions will be arranged to disseminate the compliance standards expected of our employees, with potential action taken against non-compliant personnel. To fortify our adherence, we conduct internal compliance evaluations through site inspections and internal audits, as well as externally through ISO audits. This vigilant approach helps us mitigate non-compliance risks and associated legal penalties. Malaysia • Capital Markets and Services Act 2007 • Companies Act 2016 • Employment Act 1955 • Environmental Quality Act 1974 • Factories and Machinery Act 1967 • MMLR of Bursa Malaysia • Occupational Safety and Health Act 1994 (“OSHA 1994”) China • Civil Code of the People’s Republic of China • Environmental Protection Law of the People’s Republic of China • Labour Law of the People’s Republic of China • Law of the People’s Republic of China on Work Safety Read more on our corporate policies in the Business Ethics and Corporate Governance section of this SR 2023. REGULATORY COMPLIANCE GRI 2-27, GRI 3-3 M3 WHY IT MATTERS Ensuring compliance with pertinent laws and regulations is crucial to safeguarding our business and maintaining responsible operations. In doing so, we not only avoid legal issues and financial penalties but also safeguard our reputation while proactively addressing potential risks. Ultimately, our commitment to compliance ensures our long-term sustainability. UN SDGs Capitals HC NC SRC The Board also reviewed relevant policies, including the CoC, CoE, Related Party Transaction Policy and Terms of Reference of the AC to ensure alignment with the Conflict of Interest Policy as well as current regulatory frameworks and ethical standards. In tandem with this, our Internal Audit Department has outlined the requirements and practices relating to ABAC conformance, ensuring standardisation across the Group. Awareness sessions, webinars and training programmes have been conducted for all employees to underscore the importance of adhering to the ABAC Policy. These efforts aim to reinforce the culture of integrity, ethical conduct and widespread compliance throughout the organisation.
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