DEALING WITH BUSINESS ASSOCIATES POLICY AND PROCEDURES
- PPB Group1 is committed to dealing with its Business Associates2 in a fair, transparent, and ethical manner. As such, the objective of this Business Associates Policy and Procedures is:
- to outline the responsibilities of PPB Group’s Personnel3 to ensure that the collaboration with Business Associates is done in accordance with applicable laws, PPB Group’s policies and procedures, and standards of conduct.
- to promote Personnel’s awareness of suspicious circumstances that may conceal bribery or corrupt behavior on the part of Business Associates.
- This Policy and Procedures applies to all PPB Group’s businesses and Personnel. PPB Group’s Business Associates are required to read, understand, and comply with this Policy and other relevant Group policies and procedures.
- This Prior to entering into a new contract or commitment with a Business Associate, Personnel from the Procurement Department, or the Business Sponsor/ Project Sponsor4 are required to:
- conduct and document the due diligence on the Business Associate which involves proportionate and risk-based due diligence, including, as appropriate, a review of the potential Business Associates’:
- links to government or government officials
- financial performance
- qualifications and experience
- governance and business conduct frameworks, and
- any other considerations relevant to the engagement of the Business Associate.
- perform regular/ ongoing monitoring of Business Associate’s conduct, in particular where “red flags” have been identified. This can be achieved during their performance evaluation. For more information on conducting due diligence on Business Associates, please refer to the Third-Party Due Diligence Policy and Procedure.
- communicate PPB Group’s expectation, by directing our Business Associates to the respective entities under PPB Group’s website, to review the Group’s Anti-Bribery and Corruption Policy and Procedures, and any other relevant policies under PPB Group. PPB Group may also require certain Business Associates to attend training, especially where significant bribery risk has been identified.
- document the terms of relationship by entering into a written agreement which contains appropriate legal and contractual provisions (including in relation to compliance with PPB Group’s Anti-Bribery and Corruption Policy and Procedures, and any other relevant policies, and the right to immediate termination in the event of a serious violation of PPB Group’s policies and procedures, or applicable law).
- obtain all necessary internal reviews and approvals of the written agreement in accordance with the applicable delegated authority, having regard to PPB Group’s internal review process, including a legal review.
BUSINESS ASSOCIATES' RESPONSIBILITIES
- PPB Group expects all its Business Associates to share the Group’s values and adhere to its stance on bribery and corruption. This particularly applies to any Business Associates working on behalf of the Group, e.g. agents, distributors, and intermediaries, who are required to ensure bribery and corruption does not occur in such organization’s related business dealings.
- All PPB Group’s Business Associates must be aware of PPB Group’s Anti-Bribery and Corruption principles, as well as the behavior expected of them, and agree to abide by them as long as they have a business relationship with the Group.
- New Business Associates are required to sign (i) Conflict of Interest Declaration, and (ii) Business Associate Integrity Pact, which is a commitment by the Business Associate to conduct its business without any element of bribery and corruption. Business Associates must be aware that if they are found to be involved with any bribery and/ or corruption or acted in a manner which is inconsistent with the Group’s ABAC Policy and Procedures, during the course of business, the Group then reserves the right to terminate the business relationship with the Business Associate.
- Business Associates are required to report any suspected instances of bribery and corruption that they encounter in their dealings with the Group’s Personnel via the Company’s Whistleblowing channels. For more information on making a whistleblowing report, please refer to the Group’s Whistleblowing Policy and Procedures.
CONSEQUENCES OF NON-COMPLIANCE
- Laws prohibiting bribery and corruption may not differentiate between illegal acts made by PPB Group or someone acting on PPB Group’s behalf. Bribery and corruption are very serious offences under local and international laws, and corrupt behavior by PPB Group’s Business Associate, particularly intermediaries, could expose PPB Group and its Personnel to severe criminal (a fine or imprisonment or both) and civil liabilities (a financial penalty and liability for damages).
- Association with Business Associates who act disreputably or illegally, may:
- damage PPB Group’s reputation and jeopardize future business opportunities.
- expose PPB Group to scrutiny by regulatory bodies.
- make PPB Group complicit to any criminal or illegal acts carried out by the Business Associate
- Any non-compliance with this Policy and Procedures by Personnel will be regarded by PPB Group as serious misconduct which may lead to disciplinary action, including termination of employment/ appointment. For Business Associates, it may lead to immediate termination of the relationship.
“PPB Group” or “ the Group” refers to PPB Group Berhad and its subsidiaries.
For purposes of this Policy and Procedures, the term “Business Associates” includes, but not limited to, suppliers, vendors, contractors, agents, service providers, consultants, advisers, distributors, joint venture, or partners consortia parties, and any other third party acting for or on behalf of PPB Group.
Includes directors and employees.
Refers to the relevant Personnel/ Department in the company that wishes to transact or enter into an official relationship with a Business Associate.