Compliance & Ethics
Anti-Bribery & Corruption Policy
Nautical Resources Sdn Bhd is committed to maintaining the highest standards
of business ethics and integrity. This Anti-Bribery & Corruption Policy outlines
our zero-tolerance approach to bribery and corruption in all forms.
1. Introduction
Nautical Resources Sdn Bhd has a zero-tolerance approach to bribery and corruption. Nautical is committed to combating bribery and corruption in all our dealings and is resolved in upholding integrity, ensuring ethical business conduct and professionalism wherever Nautical Resources Sdn Bhd operates. Any employee or director or person associated with Nautical who is engaged in any corrupt practices shall be subjected to disciplinary action in accordance with Nautical’s policies, procedures, directives and guidelines or terms of contract and agreements.
2. Objectives
The objective of this Policy is to set out the responsibilities of Nautical in observing and upholding Nautical’s position on combatting bribery and corruption, as well as to provide information and guidance to those working for Anfort on how to recognize and deal with bribery and corruption issues that may arise in the course of business.
3. Scope
This Policy is applicable to ALL employees and directors of Nautical Resources Sdn Bhd. Nautical also expects that person associated performing work or services with, for or on behalf of Nautical shall comply with the relevant parts of the Policy when performing such work or services.
4. Definitions
In this Policy, unless the context otherwise requires, the following terms shall have the meanings respectively assigned to them:
Bribery
means the act of SOLICITING, GIVING, OFFERING, ACCEPTING OR RECEIVING GRATIFICATION, directly or indirectly, to/from a person in authority either in the form of money, services or valuable goods as an inducement or reward to do or not to do an act in relation to the person’s principal affairs.
Person Associated
refers to external parties with whom Nautical has or plans to establish some form of business relationship. This includes partners, contractors, suppliers, vendors, advisors, consultants, agents, and representatives.
Corruption
includes: – Any action which would be considered as an offence of giving or receiving gratification under the MACC Act 2009 – Any acts of extortion, collusion, breach of trust, abuse of power, trading under influence, embezzlement, fraud or money laundering – All deeds or behaviours that are defined as “corrupt act” under the relevant laws of each jurisdiction where Nautical operates
MACC Act
refers to the Malaysian Anti-Corruption Commission Act 2009 (Act 694) and shall include all subsequent revisions and amendments thereto.
5. Our Principles
- Nautical conducts all business in an honest and ethical manner. Nautical takes a zero-tolerance approach to bribery and corruption and is committed to act professionally, fairly and uphold integrity in all relationships and business dealings wherever Nautical operates.
- Nautical is committed to adhere strictly to the relevant laws in relation to bribery and corruption including but not limited to the MACC Act, the Penal Code (Act 574) and the Anti-Money Laundering and Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.
- Nautical is committed to develop and maintain a detailed OACP to ensure that its policy of zero tolerance is fully adhered to and implemented across all sections of the organization.
6. Bribery & Corruption
All forms of bribery and corruption are strictly prohibited. Nautical will not
tolerate any form of bribery or corruption. The participation or engagement
of an employee or a director, whether directly or indirectly, in any act of
bribery or corruption could result in disciplinary action being taken and,
ultimately, termination and dismissal. Acts of corruption under the MACC Act
are punishable by imprisonment for a term of up to twenty (20) years and a
fine of RM10,000.00 or not less than five (5) times the value of the
gratification whichever is higher. Forms of bribery and corruption include:
- Gratification
- Political Contributions
- Facilitation Payments
- Conflicts of Interest
- Kickbacks
- Forgery of Documents and False Claims
- Abuse of Power
7. Gifts, Entertainment and Hospitality
- The intention behind giving or receiving any gifts, hospitality or entertainment must always be considered first. It should never be for an improper motive to obtain or retain a business.
- If an employee is unsure, the employee must always disclose and refer the matter to the immediate supervisor or head of department to obtain advice and approval before proceeding.
- All employees are not allowed to give or receive any gratification, gifts, hospitality or entertainment where it is for an improper purpose.
- An employee must obtain prior clearance and approval from the immediate supervisor and/or head of department before giving or receiving any gifts, hospitality or entertainment.
- Where any gifts, hospitality or entertainment is received before prior approval can be obtained, an employee must always disclose such gifts to the immediate supervisor and/or head of department, regardless of its value.
- Any gifts, hospitality or entertainment provided by Nautical must always be of moderate and reasonable value and should never be given with an intention to exert improper influence or where it causes a conflict of interest.
8. Political Contributions
Nautical does not make or offer contributions whether monetary or in-kind to
any political party, political party officials or candidates for public offices.
However, Nautical may make contributions which are permissible under
applicable law, subject to the approval of the Nautical Board of Directors or
Nautical Chief Executive Officer (CEO).
9. Donations, Sponsorships & Charitable Contributions
- Any donations, sponsorships and charitable contributions by Nautical must be done with the approval of the executive director(s) and it must be done in a transparent manner for social and moral responsibility.
- It should never be paid in exchange for any business implications to Nautical, whether it is to obtain a business, or to obtain some form of advantage.
- Employees are encouraged to make donations and charitable contributions in their personal capacity, but it should never be in exchange for any improper purposes that affects the business of Nautical.
- All employees should not agree or promise to provide any form of political donation or support particularly where it is to obtain any business or advantage to Nautical.
10. Due Diligence
Department/unit are required to establish key considerations or criteria for
conducting due diligence on any relevant parties or personnel (such as
employees, agents, vendors, contractors, partners and consultants) prior
entering into formalized relationship. Method may include background
checks, documented verification process or conducting interviews with the
person to be appointed to key role where corruption risk has been identified.
11. Record Keeping & Training
- All employees of Nautical are required to complete and undertake all relevant documentations and processes particularly where it relates to anti bribery and corruption initiatives.
- Any failure to do so will impact the individual employee's performance review and, where it is a severe non-compliance, an employee may be subject to further disciplinary action. Repeated failure to undertake proper record keeping or undergoing compulsory trainings may warrant the dismissal of an employee.
12. Reporting for Violations of Policy & Whistleblower Rights
- Where there are reasonable grounds and genuine reasons to suspect that there is a violation of the Anti-bribery & Corruption policy, employees and other applicable persons are required to report the particulars of such suspicions to Nautical's dedicated channel for reporting.
- Any concerns, questions or reports should be addressed to their immediate supervisor or Head of Department, or where that is not possible, to other functions such as the Administrative Department, Legal, and Internal Audit.
- Employees are responsible to ensure that: - They exercise sound judgment that it is a genuine threat and violation of the Policy - They have evidence to support their allegations - They are available to provide evidence in any inquiry - They are not frivolous reports with the motive to scandalize
- Nautical ensures that there will be no retaliation or repercussions on the employee for making genuine reports. Any genuine reports made will be kept strictly confidential and only informed to persons on a need-to-know basis.