FIBON BERHAD (or the “Company”) and its subsidiaries (collectively known as the “Group”) are committed to conduct business ethically and comply with the applicable laws and regulations in the countries where it does business.
The Group will not tolerate bribery and corruption of any kind, directly or indirectly, to or from third parties in its business dealing.
This policy applies across the Group to all employees including directors regardless of location or role, and third parties including customers, clients, distributors, consultants, service providers, agents or any other person associated with or acting on behalf of the Group.
The Group requires all employees including directors and third parties to abide and act in accordance with the applicable laws on bribery and corruption when conducting business on behalf of the Group. Violation of the applicable laws and regulations on bribery and corruption may expose the Group to the financial risk, reputation risk, legal risk or other negative consequences.
3. BRIBERY & CORRUPTION
Anything of value is not limited to cash, which includes cash equivalents like gifts or benefits, favours, business opportunities, favourable contracts, hospitalities, loans, fees, rewards, services, discounts, travels and entertainments, employment offers, sponsorships, commission or other advantages and benefits.
4. GIFTS, ENTERTAIMENT & HOSPITALITY
No employee should solicit, promise, offer and accept gifts and benefits on anything of value, directly or indirectly, to or from third parties as an inducement to secure or obtain an improper advantage.
In narrow exception, the Group recognises that occasionally exchange in giving or accepting reasonable and appropriate gifts, entertainment or hospitality as business courtesies of customary practices and provided that it does not have an attempt to improperly influence the decisions of the person involved or appear to cause a conflict of interest.
All expenditure must be adequately, explicitly recorded and accessible for review. Staggering or breaking any payment or receipt into a smaller amount to circumvent the approval process is strictly not allowed.
Facilitation Payment as a form of corruption constitutes an offence for offering a sum which is unofficial in any form whatsoever, whether directly or indirectly to quicken or speed up a routine service in exchange for convenience in conducting business.
Employees acting on behalf of the Group should conduct business transactions with the private or government sector in a transparent manner and in accordance with applicable laws and regulations. Employees should report to the Risk Management Committee when encountered with such requests for a facilitation payment.
Kickback payment is a form of negotiated bribery in which an illegal return of part of payment is paid by a third party to a company’s employee in a legitimate business transaction.
Employees of the Group should be aware of the consequences of the applicable laws and regulations and report to the Risk Management Committee when a third party requests or offers a kickback payment.
The Group prohibits making any contributions in any forms to political parties or candidates in any political campaign in any country.
The Group is committed to Corporate Social Responsibility. It supports the community and legitimate charitable donations and sponsorship in-kind of time, services or financial to education, events, sports and other social causes under local laws and practices that have no influence on business decisions.
All donations to be offered must obtain prior approval from the Executive Director.
Third parties include suppliers, distributors, contractors and agents conducting business with, for or on behalf of the Group are made aware of this Policy and ensure that they abide by procedures and applicable laws and regulations.
Risk Management Working Group shall execute the due diligence to review third parties’ background, qualification and reputation before entering any relationship of the business.
The Group shall not enter business dealing with any third party reasonably suspected or aware of engaging in bribery, request for commissions, kickback payments inducement, unusual payment term or channel, and / or for having improper favoured record in a previous role.
Improper acts of any Third Parties may have their contract re-evaluated or terminated as well as any other legal and remedial action available to the Group under applicable law.
Any employee found not complying with this policy, which includes neglect or remain silent when witnessing any act or behaviour that falls within the scope of violation of this policy will be subjected to disciplinary action, which may include termination of employment.
Employees in the position of power or responsible for the relationship should conduct business on behalf of the Group in a fair and transparent manner. Not to abuse the decision-making, bypass normal procedure and engage in any activity that might lead to breach of this policy.
Breach of this policy may also expose an individual to criminal and civil liability and could result in imprisonment or in the imposition of a significant financial penalty.
All payments made must properly be authorised and accurately accounted for, and with appropriate supporting documents which evidence the business reasons for making payment to third parties.
The Account department should report to the Executive Director for any accounting item that lacks clear supporting evidence or that doubt may violate this policy.
All employees shall undertake training on this policy, to raise awareness of various forms of bribery and corruption, and how to report suspicious activity or to consult immediate supervisor when unsure of whether a particular action constitutes bribery or corruption.
All employees shall receive updates on this policy as part of their ongoing training. Risk Management Working Group shall maintain records to identify employees who have received training and update training schedules.
It is the responsibility of employees to communicate and make aware the third parties, to abide and adhere to the Policy and both act for the interest of the Group.
Training and communication on this policy may be conducted by circulating the policy to employees or Third Party for learning, acknowledgement and awareness, or any appropriate methods that the Group deemed best fits.
All Employees are responsible for understanding and familiar with applicable requirements, and are required to avoid any activity that might lead to violation of this policy.
Employees are encouraged to raise concern promptly and disclose real or suspicious behaviour or misconduct of other employees or third parties with business relationships on breaches of the policy and escalate to the whistleblowing channels of the Group.
To protect employees from reprisals for the disclosure, any report made will be treated with utmost confidentiality and shall not disclose to any person the name and the details of the reports except such disclosure is required by the laws.
The Group has developed a Whistleblowing Policy which provides guidance and channels for secure reporting of concerns without malicious intent about any suspect, attempted or actual corruption incidents and other forms of misconduct.
Reporting on violations of policy could be escalated to the whistleblowing channels prescribed.
Further detail on the Group’s Whistleblowing Policy is available at
A due diligence will be conducted to verify and identify business partners and third parties prior entering any relationship with the Group.
The process helps prevent corrupt practices in the relationship and also protect the Group from any legal, financial and reputation risk.
The corruption risk assessments are conducted in a continuous manner by the Risk Management Working Group to identify, analyse, assess and prioritise the internal and external corruption risk of the Group. Intermittent assessment is required where circumstances indicate changes in the directorship or a significant change in any factor of the business.
Risk Management Committee and Executive Directors will review this policy every 3 years or when there is a change in the applicable law and regulations or circumstance in the business or a material change in the environment or circumstances in which the Group is operating or the current policies are found to be inadequate.
Executive Directors shall be responsible for overseeing and identifying any violations of the policy and other non-routine transactions or behaviours in daily operation.