FIMA CORPORATION BERHAD ANNUAL REPORT 2020

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Fima CORPORATION Berhad (197401004110) (21185-P) • Annual Report 2020 68
Value Distribution to Stakeholder
(RM Million)
Employees
(salaries, wages,
and other benefits)
33.8
Government
(Tax and duties)
12.3
Shareholders
(dividends)
30.0
Reinvestment
in business
17.0
Ethical Conduct
The Group takes a zero-tolerance stance to unethical practices. We
are committed to complying with the rules and regulations of the
countries in which we operate and act ethically, consistent with
the principles of honesty, integrity, fairness and respect. Every
employee is accountable for ensuring that these principles are
always upheld in all we do. We expect the same standards from all
third parties who provide good and services to our companies.
In FYE2020, certain governance processes have been strengthened
after a thorough review of the Group’s integrity infrastructure for
which an external consultant had been engaged. The exercise
involved not only the review of the Board Charter and the terms
of reference of the Board committees, but also entailed a review
of the policies of the Group and the anti-bribery framework. This
is to ensure that our management practices remain relevant and
effective for the Group‘s ongoing performance.
Our Anti-Bribery policy includes inter alia policies on ethical
behaviour, including the acceptance of the offering of corporate
hospitality and gifts. For example, corporate hospitality must be
reasonable and proportionate, and any gifts given or received
must not conflict with our obligations to that party. Furthermore,
our procurement and authorisation procedures are consistent
and transparent so that all payments are documented and
understood. These internal control procedures are also subject
to regular review to provide assurance that they are effective
in countering any risk of bribery and corruption. A significant
number of written agreements entered into by our businesses
with their respective vendor and customers include specific anti-
bribery and corruption clauses.
In addition, the Board, through the Audit and Risk Committee
reviews and monitors all related party transactions and conflicts of
interest situation, if any, on a quarterly basis. A Director or member
of senior management who has an interest in a transaction must
abstain from deliberating and voting on the relevant resolutions, in
respect of such transaction.
Cybersecurity
The Group acknowledges the importance of cybersecurity as a
critical feature in preserving our data integrity and maintaining
trust amongst our stakeholders. Being able to provide continuity
of our cybersecurity agenda, will ensure protection towards the
Group’s IT network, information and communications assets.
Threats of malicious software, phishing attacks and spams are
all matters we take seriously. During the year, there were a few
incidents of phishing and malware targeted at our employees.
For this reason, we have taken additional security measures to
improve our readiness to respond against cyber attacks which
are getting increasingly sophisticated and prevent misuse and
unauthorised access to our systems. We strive always to ensure
that our cybersecurity is up to the latest industry standards.
The new Anti-Bribery Policy familiarisation e-training module
has been developed during the year. This training module
provides an overview of anti-corruption laws, the Group’s
ethical guidelines and grievance procedures and is also used to
familiarise and train third party service providers who perform
services for the Group.
All employees who have successfully complete the module are
required to sign a confirmation that they will comply fully with
the policy. Further, training on this Policy will form part of the
induction process for all new directors and employees.
There were also dedicated anti-bribery classroom-based
training for Directors, senior management and employees
organised by the business units during the year.
sustainability : governance