Anti-Bribery and Anti-Corruption Policy
Yun Nam Hair Care Sdn Bhd (“Company”) has adopted a zero tolerance policy against all forms of bribery and corruption. The Company is committed to the prevention, deterrence and detection of fraud, bribery and all other corrupt business practices.
This Anti-Bribery and Anti-Corruption Policy (‘Policy”) applies to all of the Company’s employee, its associated companies, the associated companies’ employee, the Company business affiliations and third party [including contractors, vendors, suppliers, agents, consultants, business partners (“Third Party”)] and any person associated with the Company.
Bribery refers to an act of offering, giving, promising, asking, agreeing, receiving, accepting, or soliciting something of value or of an advantage so to induce or influence an action or decision.
A bribe refers to an inducement, payment, reward or advantage offered, promised or provided to any person in order to gain any commercial, contractual, regulatory or personal advantage.
Bribery is not limited to the act of offering a bribe. If an individual is on the receiving end of a bribe and they accept it, they are also breaking the law.
A. Gifts and hospitality
B. Facilitation payments and kickbacks
C. Charitable contribution
A) Gifts and hospitality
Employees or members of their immediate families should not provide, solicit or accept cash or its equivalent, entertainment, favours, gifts or anything of substance to or from vendors, suppliers, customers or others that do business or trying to do business with the Company. All businesses that the Company deals with must be on an arm’s length basis. Nothing should be accepted, nor should the employee have any outside involvement, that could impair, or give the appearance of impairing, an employee’s ability to perform duties to exercise business judgement in a fair and unbiased manner.
“Gift” means something that is given to another person including but not limited to cash, vouchers or any item (e.g. pens, hampers, concert tickets) having any cost or financial value, including food or beverages (e.g. supplier or sub-contractor sponsored meals and entertainments) as well as any items of value.
No gifts of any kind that are offered by vendors, suppliers, customers, potential vendors and suppliers or any other individual or organization, no matter the value, will be accepted by any employee or their family members, at any time, on or off the work premises.
Exemptions from this No Gift Policy are gifts such as t-shirts, pens, goodies bags including cards, thank you notes, certificates or other forms of thank you and recognition that employees obtain as members of the public at events such as seminars, conferences, training events etc that is offered equally to all participants of the event.
Gifts of food that may arrive during the holidays, and at other times of the year when gift giving is traditional, belong to the entire staff even if addressed to a single employee.
The giving or receiving gifts is acceptable under this Policy if all the following requirements are met:
- It is not made with the intention of influencing a third party to obtain / retain business or provide business advantage or as in explicit or implicit exchange for favours/ benefits;
- It is not made with the suggestion that a return favor is expected;
- It is in compliance with laws and regulations;
- It is given in the name of the company, not in an individual’s name; and
- It is given openly, not secretly.
ALL GIFTS besides the exemptions are required to be declared to Chief Operating Officer Department and we will keep a written record of the amount and reason for the hospitality or gifts accepted, all gifts and hospitality are subject to management review.
If there are any doubt against the type of gifts received, you should contact Chief Operating Officer Department for clarification. To be on a safe side, do not accept any gifts will be the best way to eliminate the risks.
B) Facilitation Payments and Kickbacks
The Company does not make, and will not accept, facilitation payments or “kickbacks” of any kind. Facilitation payments are typically payments (sometimes known as “grease payments”) made to secure or speed up a deal or business decision. In return for a business favour/advantage, such payments are considered bribe to secure the award of a contract. All staff and business partner associated with the Company should avoid any activity that might lead to facilitation payments or “kickbacks”.
C) Charitable contributions
The Company accepts and indeed encourages the act of donating to charities, whether through services, time, or direct financial contributions (cash or otherwise) and disclose all charitable contributions it makes. The Company will ensure that all charitable donations made are legal and ethical under local laws and practices, and the donations are not offered/made without the notice of Board of Directors. All employees must be careful to ensure that charitable contributions are not used to facilitate and conceal acts of bribery.
The Company expects all Third Party(ies) doing business with the Company to approach issues of bribery and corruption in a manner that is consistent with the principles set out in this Policy. The Company requires all Third Party(ies) to cooperate and ensure compliance with these standards, to continue the business relationship.
All employee of the Company must sign a Letter of Declaration and Undertaking of the Anti-Bribery and Corruption Policy that they have read, understood and will comply with the information contained within this Policy, and with any training or other anti-bribery and corruption information given.
All employee of the Company should comply to the following:
- cannot give, promise to give, or offer, a payment, gift or hospitality with the expectation or hope that a business advantage will be received, or to reward a business advantage;
- cannot give, promise to give, or offer a payment to Third Party to “facilitate” or expedite a procedure;
- cannot accept payment from Third Party that the employee knows or suspect is offered with the expectation that it will obtain a business advantage for them;
- cannot accept a gift or hospitality from a Third Party if you know or suspect that it is offered or provided with an expectation that a business advantage will be provided in return; or
- cannot threaten or retaliate against another employee who refuse to commit a bribery offence or who has raised concerns under this policy.
All employees are equally responsible for the prevention, detection, and reporting of bribery and other forms of corruption. When a person has reasonable ground to believe there is any instances of bribery and other forms of corruption, he/she may report the matter to the Integrity Unit as follows:
All reports on any instances of bribery and other forms of corruption, made in good faith by an employee are treated as strictly confidential in accordance to the Company’s Whistleblower Policy.
The Company will provide employees with regular anti-corruption compliance training programmes to educate about the requirements and obligations of anti-bribery and corruption laws and this Policy.
The Company will establish and put in place appropriate performance measures and reporting system to monitor performance against metrics and compliance with the relevant policies, procedures and controls.
The Company will monitor the effectiveness and review the implementation of this policy, regularly considering its suitability, adequacy and effectiveness. Any improvements identified will be made as soon as possible. The Company reserves the right to amend, suspend or terminate this Policy at any time, at its sole discretion, with or without notice.
Any infringement of this Policy, including any acts of bribery, shall constitute serious misconduct or offences warranting disciplinary action against the offenders, including summary dismissal. The Company reserves its right to terminate its contractual relationship with any party which is in breach of this Policy.