Anti Bribery and Corruption Policy
Policies and Procedures on Anti-Bribery & Anti-Corruption Policy
(1) Policy Statement
Alpine Advisory Sdn Bhd (collectively referred as (“Alpine” or “Company”) firmly supports the national anti-bribery and anti-corruption effort by establishing and upholding good corporate governance and continuously inculcating good ethical business practices among its directors, employees, service provider and other business partners. In line with this commitment, Alpine has developed its Anti-Bribery & Anti-Corruption Policy (the “Policy”). All members of the Board of Directors, staff and related parties must uphold the highest standard of integrity and accountability in discharging their duties and to ensure that all activities, offer or services are conducted in compliance with this Policy and all other applicable legal and regulatory requirement on anti-bribery and anti-corruption.
The following definitions are included in this Policy.
Bribery – Bribery is defined as any action which would be considered as an offence of giving or receiving ‘gratification’ under Malaysia Anti-Corruption Commission Act 2019 (“MACCA”). In practice, this means offering, giving, receiving or soliciting something of value in an attempt to illicitly influence the decisions or actions of a person, in a position of trust within an organisation.
Gratification – Means (a) money, donation, gift, loan, fee, reward, valuable security, property or interest in property being property of any description whether movable or immovable, financial benefit, or any other similar advantage; (b) any office, dignity, employment, contract of employment or services, and agreement to give employment or render services in any capacity; (c) any payment, release, discharge or liquidation of any loan, obligation or other liability, whether in whole or in part; (d) any valuable consideration of any kind, any discount, commission, rebate, bonus, deduction or percentage; (e) any forbearance to demand any money or money’s worth or valuable thing; (f) any other service or favour of any description, including protection from any penalty or disability incurred or apprehended or from any action or proceedings of a disciplinary, civil or criminal nature, whether or not already instituted, and including the exercise or the forbearance from the exercise of any right or any official power or duty; and (g) any offer, undertaking or promise, whether conditional or unconditional, of any gratification within the meaning of any of the preceding paragraphs (a) to (f).
Board – Means the Board of directors of the Company and which shall include all independent and non-independent directors, executive and non-executive directors of Alpine.
The areas covered under this Policy are as follows:
(3) Conflict of interest
Alpine conducts its business according to the principle that it must manage conflicts of interest fairly. Alpine may face actual and potential conflicts of interest from time to time. Our policy is to take all reasonable steps to maintain and operate effective organizational and administrative arrangements to identify and manage relevant conflicts.
The management is responsible for ensuring that there are appropriate and adequate systems, controls and procedures to identify and manage conflicts of interest. The Compliance Director assists the management in the identification and monitoring of actual and potential conflicts of interest.
It is stated in the Alpine’s Employee Handbook that employees should exercise caution in their personal relationships with clients, suppliers, competitors or businesses introduced or affiliated with a client or supplier. This is to ensure there is no involvement of obligations that may prejudice or influence the business relationship or result in any conflict with their duties. If a conflict of interest arises between employees and a third party, the employees or the relevant department head should be made aware of the conflict, where appropriate, and inform the Compliance department.
Should a conflict of interest arise, it must be managed promptly and fairly. Alpine has in place arrangements and/or procedures designed to ensure that:
· There is control of the flow of information where, otherwise, the risk of a conflict may harm the interests of a client
· There is prevention of trading activities that harm the interests of a client
· Appropriate and adequate disclosures to client to enable the client to make an informed decision
· Staff declares the gifts and entertainment received, their external engagements and appointments
· Where necessary, exclusion of certain persons from working on a specific transaction, business activity or participating in the management of a potential conflict of interest.
(4) Gifts and Entertainment
Care should be exercised in the giving and receiving of business-related gifts/entertainment from clients, business partners and third-party suppliers. The act of giving or receiving these gifts must not carry any intention or obligation or expectation of favours. The Company’s aim is to deter givers of gifts from seeking or receiving special favours from Alpine employees. Accepting any gift of more than nominal value or entertainment that is more than a routine social amenity can appear to be an attempt to influence the recipient into favouring a particular client or vendor.
The acceptance of gifts under inappropriate circumstances may also amount to Bribery and/or a criminal act. Accepting gifts may be a crime under the MACCA, which provides that a person shall be guilty of an offence if he corruptly receives or gives a Gratification (whether in the form of cash, employment, business opportunities, favours or otherwise) as an inducement or reward to a person to do or not to do any act. To avoid the reality, the appearance that business judgement may be improperly influenced or compromised and to protect the staff from any perception of improper conduct or conflicts of interest, employees should observe the following guidelines when deciding whether or not to accept gifts.
· Gifts valued at Ringgit Malaysia RM500.00 and above, regardless an individual item or accumulated in value, are expected to be declared.
· Where circumstances make it impossible, difficult or impractical to reject gift or where the rejection of the gift may affect the relationship with the clients or business associates (other than cash or cash equivalent) or rejecting them is deemed as offensive given the local custom, you may accept the gift(s). If accepted, it is deemed to have been accepted on behalf of the Company and become the property of the Company. The use of the gift is to be determined by the management.
· Consumables like food gifts and hampers at nominal value will not need to be declared but instead be shared within the company staff.
The employee should obtain approval from his or her supervisor for business entertainment extended to the employee. As a guide, business meals are acceptable. The following need not be declared:
· Annual dinner/ gala dinner/ cocktail events which are also attended by employees or other companies / organizations
· Working lunches and other meals including those following / preceding official meetings, and
· Invitations to official opening ceremonies / seminars
Business entertainment that might compromise the employee’s ability to or appear to hinder his or her duties in a professional manner should not be accepted. The following deemed inappropriate:
a) Overseas trips in the form of paid holidays or holiday incentives.
b) Accepting invites or tickets by the employee when the prospective host will not be present at the event with the employee.
If there are doubts as to whether business entertainment might create the appearance of any conflict or impropriety, these situations can be referred to the management or Compliance Director.
Business entertainment valued at Ringgit Malaysia RM500.00 and above, is expected to be declared. If the staff receive or provide entertainment when on an official business overseas trip, this should be treated in the same manner as entertainment received locally.
Gifts and business entertainment valued at Ringgit Malaysia RM 500.00 and above (individually or in total value) are expected to be declared. Employees are required to email and inform the Compliance Director and the email is to be replied and endorsed by the Compliance Director.
(5) Donations and Sponsorships
Alpine is permitted to provide donation or sponsorship provided it comply with following:
– ensure such contribution is allowed by applicable laws.
– obtain all necessary authorization (where required);
– be made to well established entities having an adequate organizational structure to guarantee proper administration of the funds; and
– not to be used as a means to cover up an illegal payment or bribery.
The Company must ensure that such contribution is recorded in the Company’s books and/or records properly.
Alpine shall not make political contribution from the Company’s resources to any political party, political candidate or political campaign. In the event where Alpine is to make a political contribution, the prior approval from the Board must be obtained. Alpine must ensure that such contribution is properly recorded in the Company’s books and/or records.
(6) Facilitation Payments
Alpine adopts a strict stance that disallows facilitation payments or other provision made personally to an individual in control or a process or decision. Employees are expected to notify their immediate superior when encountered with any requests for a facilitation payment. In addition, if a payment has been made and employees are unsure of the nature, their immediate superior must be immediately notified and consulted. They must also ensure that the payment has been recorded transparently.
(7) Financial Controls
All the transactions and disbursement of monies are required to follow appropriate delineation process and approval matrix. The Company’s internal operational manual illustrated clear responsibilities and approval matrix of authorized officer in the Company to approve its purchase or payment or other expenditure.
(8) Non-financial controls
Due diligence shall be undertaken with regards to any service provider intending to act on Alpine behalf / act for Alpine. The extent of the due diligence will be risk-based and shall include a bribery risk assessment. Due diligence may include a search through relevant databases, checking for relationships with public officials, and documenting the reasons for choosing one particular service provider over another. Alpine expects all service providers acting on behalf of the Company to contractually agree to refrain from bribery and corruption practices, and to adhere to the Policy. In ensuring that the service providers adhere to industry best practice and accepted standards of behaviour, a service provider may be required to complete the Declaration on Anti-Bribery, where deemed necessary. Justification for engagement of a service provider shall be given during the onboarding due diligence process and 2 layers of approval is needed for such engagement.
On the other hand, due diligence and background checks during staff recruitment and on an ongoing basis, to be satisfied that they are fit and proper persons who have the necessary integrity and professionalism particularly on the personnel who will be appointed to a key role where corruption risk has been identified.
(9) Managing and Improving Monitoring Framework
(a) establish, maintain, and periodically review its anti-Bribery and anti-corruption programme, which includes clear policies and objectives that adequately address corruption risks, taking into account relevant developments in the legislature as well as evolving industry to ensure the efficiency and effectiveness of the programme;
(b) have the oversight of the implementation of compliance controls related to this Policy and conduct regular risk assessments to identify the Bribery and corruption risks potentially affecting the Company;
(c) ensure that the lines of authority for personnel tasked with responsibility for overseeing the anti-Bribery and anti-corruption compliance programme is appropriate;
(d) ensure that the results of any audit, reviews of risk assessment, control measures and performance are reported to all top-level management, including the Board, and acted upon;
(e) ensure all employees aware and familiar with the policy and the consequences of non- compliance;
(f) appoint a personnel/ department to perform internal audit on the anti-Bribery and anti- corruption measures in place; and
(g) consider an external audit to be performed by a qualified independent third party every 3 years.
(10) Record Keeping
Alpine shall maintain documentation related to the adequate procedure for 7 years. As a measure to satisfy the requirement of document retention, any disposal of relevant documents will require consent and approval from Alpine ‘s CEO. Each department should inform CEO and obtain his prior approval for any disposal of relevant documents.
(11) Awareness and Training
The Company will conduct a training session for all new staff within the first month of their employment. For all existing staff, refresher training on anti-Bribery and anti-corruption measures will be held once a year.
(12) Whistleblowing policy and Reporting Channel
Alpine is committed to a high standard of compliance with accounting, financial reporting, internal controls, corporate governance and auditing requirements and any legislation relating thereto.
A whistle blower may also report on any suspected and/or real corruption incidents or inadequacies to the following designated recipient via secured reporting channels:
Designated Officer: Julian Seng, Compliance Director of Alpine Advisory Sdn Bhd
Mailing Address: 32A-2, Jalan Kuchai Maju 8, Off Jalan Kuchai Lama, 58200 Kuala Lumpur.
Each Employee has a responsibility to ensure that suspected bribery and corruption incidents are reported promptly. Reports made in good faith, either anonymously or otherwise, shall be addressed in a timely manner and without incurring fear of reprisal or victimization regardless of the outcome of any investigation.
(13) Disciplinary action for non-compliance
Cases of misconduct or gross misconduct will be dealt with according to internal procedure. The procedure is designed to ensure that all staff are dealt with fairly. However, it does not form part of the contract of employment or otherwise have contractual effect. Alpine regards bribery and corruption as a serious matter. Non-compliance may lead to disciplinary action, up to and including termination of employment depending on the seriousness of the situation, the Company may decide at its sole discretion. Alpine shall notify the relevant regulatory authority if any identified bribery or corruption incidents have been proven beyond reasonable doubt.
Further legal action may also be taken in the event that the Alpine’s interests have been harmed as a result of non-compliance.
Alpine is committed to continually improving its Policy and to develop further integrity measures and enhance its anti-Bribery and anti-corruption procedures.
Any deviation or waiver from this Policy must be approved by the Board. Alpine shall make this Policy available to both internal and relevant external parties.
Effective 29 Nov 2020