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Our Approach
S
takeholders are putting
increased emphasis on
businesses to meet corporate
responsibility and sustainability
standards, which is also reflected in
consumer behaviour and legislative
requirements. In order to meet
these expectations and achieve
long-term success and sustainable
growth, we are committed to
undertake responsible business
practices through good governance
which are supported by dedicated
policies, resource and operational
efficiency and being accountable for
our actions.
Responsible Business Practices
T
he economic returns created
by responsible and sustainable
business practices benefit
a broad range of stakeholders.
This includes the provision of
employment to more than 1,700
people in 2 countries. In addition
to corporate income taxes, the
companies within the Group pay
many other taxes, including social
security contributions on the wages
of its employees, SST, customs
duties, property taxes, etc. All
these taxes are a significant source
of funding for public services by
governmental institutions. We view
the fulfilment of our tax obligations
as part of the process of creating
sustainable value for all our
stakeholders.
During the reporting year, our
Indonesian subsidiary PTNJL had
been awarded “50 Pembayar Pajak
Terbesar Tahun 2018” category in
Kalimantan Utara under the “Wajib
Pajak Badan”. This is the third time
that PTNJL has been awarded this
recognition.
Ethical Conduct
T
he Group has a zero-tolerance
approach to unethical
practices. The Group is
committed to complying with
the laws and regulations of the
countries in which we operate and
act in an ethical manner, consistent
with the principles of honesty,
integrity, fairness and respect and
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 goods and
services to our companies.
We have policies in place that set
out standards for ethical behaviour
including the acceptance or offering
of corporate hospitality and gifts.
Corporate hospitality must be
reasonable and proportionate and
any gifts given or received must
not conflict with our obligations
to that party. Furthermore, our
Economic
Employees
(salaries, wages, and
other benefits)
32.03
Government
(Tax and duties)
20.66
Shareholders
(dividends)
33.89
Reinvestment
in the business
22.91
Value Distribution
To Stakeholder
(RM Million)
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 risks of bribery and
24
Fima Corporation Berhad
(21185-P)
SUSTAINABILITY Report 2019