Statement from the President/Group Chief Executive Officer
The MISC Group has proactively undertaken a series of initiatives in recent years to reinforce its framework for overseeing the Group’s business ethics and conduct. We have rolled out the MISC Compliance and Ethics Programme, one of the key components of the Governance Pillar within MISC’s Sustainability Strategy. This programme, aligned with international compliance standards is designed to embed a robust compliance and ethics culture across the organisation, supporting MISC’s growth agenda and providing the framework for enhancement and monitoring of good business ethics and conduct within the organisation.
At MISC Group, we maintain a strict zero-tolerance stance on bribery and corruption, as articulated in the MISC Policy Statement on Anti-Bribery and Corruption, which has been endorsed by the MISC Board. Our board of directors and management at all levels of the organisation are committed to exemplifying integrity and ethical standards through their behaviour, actions and deliverables in alignment with this policy. Furthermore, MISC has established a robust Compliance Management Framework that encompasses internal controls and measures addressing critical legal areas consisting of ethics and integrity, personal data protection, sanctions, export control and competition. This framework is further supported by our certification in the ISO 37001:2016 Anti-Bribery Management System, attained in 2019, which validates our capacity to effectively prevent, identify and respond to bribery.
We place a strong emphasis on ensuring that all our employees fully understand, take ownership of, and actively participate in upholding business ethics and integrity, as an integral part of our daily operation and culture. It is imperative that the MISC Code of Conduct and Business Ethics (“CoBE”) is fully understood, embraced, and adopted by all employees and directors within the MISC Group worldwide. To support this, we continuously conduct awareness sessions to ensure our employees are familiar with the principal elements of MISC’s CoBE. The MISC Whistleblowing Policy further provides a channel for reporting any suspected unethical and/or unlawful conduct or non-compliance with the CoBE involving MISC and/or any of its employees.
We extend these expectations to our third-party partners, requiring adherence to relevant parts of the CoBE when performing/providing/supplying such works, supplies or services or when entering into a business relationship with MISC. To reinforce this, we have introduced the CoBE for Third Parties, which emphasises and advances the principles of discipline, good conduct, professionalism, loyalty, integrity, and cohesiveness that are critical to the success and well-being of the MISC group of companies. Training is provided to third parties to ensure they understand MISC’s expectations and compliance due diligence is conducted as per the MISC’s Third Party Compliance Due Diligence Operational Guidelines. Failure by a third party to comply with the principles and standards set out in the CoBE for Third Parties may result in the termination of the non-complying party’s relationship with MISC and other adverse consequences.
I am immensely proud to be leading the team and building on the culture of integrity that has made MISC an extraordinary company that it is today.