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Corporate Governance

Fair and Ethical Business

Our success depends on the trust placed in us by our stakeholders. It is therefore the responsibility of all members of our staff to uphold our reputation as a fair and ethical business at all times.

Code of Conduct

In 2014, we carried out a comprehensive review of our Code of Conduct (“the Code”) for employees and made revisions so that it will be more understandable and user-friendly for members of our staff. Together with other corporate policies and guidelines, the Code reinforces the trust placed in us by our stakeholders. It aligns with our VMV and supports our goal to enhance transparency. Staff members at all levels of the organisation must uphold the highest standard of business ethics and respect principles of fairness, impartiality and integrity in all locations where we do business.

Ethical behaviour starts at the top, so leaders of our organisation must set an example for all members of staff. They are responsible for identifying potential issues, encouraging compliance with the Code, challenging unethical behaviour, and addressing any reported violations or practices that do not match our standards.


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Please refer to the latest version of our Code of Conduct.


Anti-Corruption and Whistle-Blowing

We encourage and assist whistle-blowers to raise grievances without fear of reprisal. Our Whistle-blowing Policy applies to all members of staff and to anyone who has dealings with the Company, including customers, business partners and suppliers.

All reports of misconduct are treated with the utmost urgency, confidentiality, and respect. During 2014, our Whistle-blowing Panel evaluated 14 cases, of which nine were determined to be unsubstantiated through follow-up investigations. The three cases that were substantiated or partially substantiated related to conduct of individual staff members and did not involve allegations of unfair or unlawful behaviour by the Company. Appropriate follow-up action is being taken in response to the substantiated cases, including disciplinary action where appropriate. Two of the cases are still under investigation.