Upholding Good Governance and Economic Resilience Integrated Annual Report 2024 SECTION 5 • DELIVERING SUSTAINABLE VALUE FOR OUR STAKEHOLDERS 109 OUR VALUE CREATION In upholding good business ethics and corporate governance, Press Metal integrated key policies and frameworks such as CoC, CoE, Whistle-Blowing Policy, COI Policy, and ABAC Policy across our operations. These guiding principles were embedded into our policies and procedures such as Responsible Sourcing Policy, SCoC, and Procurement Standard Terms and Conditions were extended to our suppliers, promoting ethical and responsible practices across our entire value chain. Comprehensive training materials on these policies are made accessible through our website and/ or e-learning platform, to keep our stakeholders informed and to seek guidance when required. This approach has underscored our dedication to ethical business conduct and has fostered a culture of openness, compliance, and continuous improvement. Through the incorporation of these policies into our procedures and processes, we enable our employees and stakeholders to engage in business dealings with integrity and transparency. HOW WE PERFORMED IN 2024 Key Performance Indicator 2022 2023 2024 Operations assessed for corruption-related risks 57.1% 71.4% 57.1% Employees who have received training on anti-corruption 79.3% 98.3% 92.4% i. Senior Management 68.8% 70.9% 84.0% ii. Management 77.0% 73.1% 91.8% iii. Executive 63.7% 97.5% 92.9% iv. Non-Executive 81.5% 99.5% 92.4% Total number of ABAC training sessions conducted for business partners 0 5 6 Number of confirmed incidents of corruption and action taken 0 0 0 Number of whistle-blowing reports or complaints received 0 0 0 Notes: 1. FYE2022 and FYE2023 contained the aggregated data from our corporate headquarters (PMAH), midstream (PMBtu, PMS, and PMAR) and downstream (PMI, PMIT, and PMBA Klang) facilities. 2. FYE2024 contained the aggregated data from our corporate headquarters (PMAH), midstream (PMBtu, PMS, and PMAR) and downstream (PMI, PMIT, PMBA Klang, PMBA Nilai 1, and PMBA Nilai 2) facilities. In FYE2024, we did not receive any whistle-blowing reports and had zero (0) incidents of corruption, demonstrating our commitment to a zero-tolerance approach to bribery and corruption. Additionally, we did not dismiss any employees or terminate contracts with any business partners in FYE2024 due to unethical behaviour. GOING FORWARD Moving forward, we will continue to focus on increasing awareness through training and e-learning initiatives as well as to continuously implement stringent internal controls, rigorously oversee business procedures, and maintain high standards of integrity and transparency across all operations. We maintain our commitment to assessing corruption-related risks within our operations. In FYE2024, 57.1% of our manufacturing operations were evaluated, compared to 71.4% in FYE2023 due to new additions of manufacturing plants under PMBA, namely, the PMBA Nilai 1 and PMBA Nilai 2. Both the manufacturing plants under PMBA, along with two (2) existing plants in China, are scheduled for corruption-related risks evaluation in FYE2025. Zero (0) cost of fines, penalties, or settlements in relation to corruption in FYE2024.
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