Anti Bribery And Anti Corruption Policy
This anti-bribery policy exists in line with the Malaysian Anti-Corruption Commission Act 2009 ("MACC Act" or the “Act”) to set out the responsibilities of PHB Asset Management Berhad (“PHBAM” or the “Company”) and those who work for us in regards to observing and upholding our zero-tolerance position on bribery and corruption.
It also exists to act as a source of information and guidance for those working for PHBAM. It helps them recognise and deal with bribery and corruption issues, as well as understand their responsibilities.
In 2018, MACC (Amendment) Act 2018 have been gazetted and the principle of commercial organisation’s criminal liability (corporate liability) was introduced in Section 17A of the Act. The Malaysian Anti-Corruption Commission has stated that the corporate liability provision of the MACC Act will be enforced on 1 June 2020.
Pursuant to Guidelines on Adequate Procedures issued by the Government, the PHBAM Anti-Bribery & Anti-Corruption Policy and Framework (“PHBAM ABAC Policy” or the “Policy”) has been designed to provide company with a framework to establish the necessary measures to prevent the occurrence of corrupt practices in relation to our business activities. PHBAM encourage the use of the Pelaburan Hartanah Berhad’s (“PHB”) whistleblowing channel to raise concerns in relation to real or suspected corruption incidents (please refer to PHB’s Whistleblowing Policy).
The PHBAM ABAC Policy is link to other PHBAM policies, guidelines and procedures and it seeks to ensure that PHBAM’s employees, businesses and anyone acting for and on behalf of PHBAM comply with applicable laws and the provisions of this Policy.
It also exists to act as a source of information and guidance for those working for PHBAM. It helps them recognise and deal with bribery and corruption issues, as well as understand their responsibilities.
In 2018, MACC (Amendment) Act 2018 have been gazetted and the principle of commercial organisation’s criminal liability (corporate liability) was introduced in Section 17A of the Act. The Malaysian Anti-Corruption Commission has stated that the corporate liability provision of the MACC Act will be enforced on 1 June 2020.
Pursuant to Guidelines on Adequate Procedures issued by the Government, the PHBAM Anti-Bribery & Anti-Corruption Policy and Framework (“PHBAM ABAC Policy” or the “Policy”) has been designed to provide company with a framework to establish the necessary measures to prevent the occurrence of corrupt practices in relation to our business activities. PHBAM encourage the use of the Pelaburan Hartanah Berhad’s (“PHB”) whistleblowing channel to raise concerns in relation to real or suspected corruption incidents (please refer to PHB’s Whistleblowing Policy).
The PHBAM ABAC Policy is link to other PHBAM policies, guidelines and procedures and it seeks to ensure that PHBAM’s employees, businesses and anyone acting for and on behalf of PHBAM comply with applicable laws and the provisions of this Policy.