Anti-Bribery & Anti-Corruption
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AIIMAN is committed to zero tolerance approach towards all forms of bribery and corruption. We uphold our core values of Integrity, Teamwork, Excellence, and Pioneering in this regard, to which our Anti-bribery and Anti-corruption (“ABC”) Policy sets out to elaborate upon. The ABC Policy serves as a guide to all personnel, including the Senior Management and the Board of Directors, on how to minimise corruption risk and avoid potential bribery and corrupt practices when dealing with our clients and business associates that may arise throughout their course of employment in AIIMAN. Please click here for details.
AIIMAN’s employees are prohibited from paying facilitation payments and accepting or receiving any gifts and/or entertainment from any other persons that may create a sense of obligation and/or compromise their professional judgement or may create the appearance of doing so.
We are guided by the Malaysian Anti-Corruption Commission Act 2009 (“MACC Act”), MACC (Amendment) Act 2018, and the Prime Minister’s Directive in respect of Integrity & Governance, along with any relevant laws, regulations, and guidelines with regards to anti-bribery and anti-corruption in Malaysia. In 2018, Section 17A of the MACC Act 2009 was enacted to introduce a statutory corporate liability offence. It provides that a commercial organisation commits an offence if a person associated with the commercial organisation commits a corrupt act in order to obtain or retain business or an advantage in the conduct of business for the commercial organisation.
Pursuant to subsection 17A(5), the Guidelines on Adequate Procedures (“GAP”) were issued and are aimed at assisting commercial organisations better understand what adequate procedures should be implemented. This will help minimise the occurrence of corrupt practices relating to their business activities, thereby safeguarding these businesses against unwanted issues. These guidelines have been formed on the basis of 5-principles which may be used as reference points for any anti-corruption policies, controls and procedures which the organisation may choose to implement towards the goal of having adequate procedures in place as part of the statutory provisions requirement and which could be relied on as a defence to absolve liability under section 17A.
The 5 principles which a commercial organisation may use as the reference points for its anti-corruption policies, procedures and controls are:
The Board of Directors and the Senior Management of AIIMAN are responsible for establishing a culture of zero-tolerance towards bribery, and to ensure that there is an effective implementation of the anti-bribery and anti-corruption programme to counter any potential or real cases of corruption. The Board and Senior Management of AIIMAN will strive to make clear and have a united stance about the culture they expect AIIMAN employees to have and to enforce consequences of breaching the provisions of AHAM Asset Management’s (“AHAM Capital”) Anti-bribery and Anti-corruption (“ABC”) Policy programme. Please click here for details.
Risk assessment serves as the foundation for the composition of an adequate anti-bribery and anti-corruption programme. AIIMAN will work closely with AHAM Capital to establish appropriate processes, systems, and controls, approved by the Board and Senior Management of AIIMAN to mitigate the specific corruption risks the business is exposed and peculiar to AIIMAN. A continuous risk assessment will allow this programme to effectively combat the changing conditions and risks. Please click here for details.
The commercial organisation should establish appropriate control and contingency measures which are reasonable and proportionate to the nature and size of the organisation in order to address any corruption risks arising from weaknesses in the organisation governance framework, processes and procedures. AIIMAN is committed to the implementation of AHAM Capital’s ABC policies inclusive of the gift and entertainment, facilitation payments, political donations, and sponsorships etc. Please click here for details.
AIIMAN is committed to ensure that regular reviews are conducted to assess the efficiency and effectiveness of the anti-bribery and corruption programme, and ensure the program is enforced. Such reviews may take the form of an internal audit, or an audit carried out by an external party. The reviews shall form the basis of any efforts to further improve the existing anti-bribery and corruption controls in place in the organisation. Please click here for details.
The anti-bribery and anti-corruption policy must be appropriately communicated to all its employees and business associates. These communications would encompass key points of the Policy (such as reporting channels, consequences of non-compliance), to whom these points should be communicated to, and how these should be disseminated.
AIIMAN disseminates information about our commitment to zero-tolerance of bribery and corruption via a few mediums to ensure maximum coverage of communication to our business associates and the public, which includes messages and banners displayed on AIIMAN website, AIIMAN’s intranet as well emails, posters and/or letters to all clients, associates and partners in the normal course of doing business, contractual agreements between AIIMAN and our business associates and letters of offers or employment letters/contracts of staff.
Training is fundamental to obtaining the full commitment of directors, senior management and employees to this programme and to provide employees with the skills needed to deal with situations in which they may encounter corruption. Our employees (including Board members) are required to undergo training on an annual basis, and further training will be provided to those whose level of bribery and corruption risk is higher due to their position within the company. AIIMAN will work closely with AHAM Capital on the training programs for the employees (including Board members). Please click here for details.