ANTI-BRIBERY & CORRUPTION – POLICY AND PROCEDURE
Policy Statement
Amerex Singapore is committed to conduct business in an honest and ethical manner. We take a zero-tolerance approach to bribery and corruption and are committed to acting professionally, fairly and with integrity in all our business dealings and relationships, wherever we operate, and to implementing and enforcing effective systems to counter bribery.
Amerex Singapore will constantly uphold all laws relating to anti-bribery and corruption in all the jurisdictions in which we operate. We shall also adhere to the Guidelines issued by the Singapore government Corrupt Practices Investigation Bureau, in regard to our conduct both at home and abroad.
Scope and Applicability
This policy applies to Amerex, all its employees and directors (both executive and non-executive); and any business associates engaged in activities with Amerex.
Definitions
“ABC” means Anti-Bribery and Corruption
“Bribery” means offering, promising, giving, accepting or soliciting of an undue advantage of any value (which could be financial or non-financial), directly or indirectly, and irrespective of location(s), in violation of applicable law, as an inducement or reward for a person acting or refraining from acting in relation to the performance of that person’s duties.
“Business associates” means any individual or organisation we encounter during the course of our work, which includes actual and potential clients, customers, suppliers, dealers, business contacts, agents, advisors and government and public bodies, including their advisors, representatives and officials, politicians and political parties.
“Corruption” means the abuse of entrusted power for private gain.
“Donation” means something of value such as money or goods that is given to help a person or organisation for charity purpose.
“Employees” means any individual in the employment of Amerex including but not limited to directors (executives and non-executive), secondees and individuals on direct hire (full and part time for permanent, fixed term and temporary employment.)
“Entertainment” comprises of expenses incurred for the provision of food, drink, or recreation of any kind, by a party.
“Gift” comprises of cash money, free fares, shares, lottery tickets, club membership, any form of commission, hampers, jewellery, decorative items and any items that is given by a party to another party.
“Sponsorship” means the act of providing money for an event in exchange for promotion purposes.
“Board” means the Board of Directors of Amerex.
Compliance with the policy
Each of the employees, directors and business associates related to Amerex has an obligation to act with integrity and to ensure that they understand and comply with the policy.
Ongoing compliance and review shall be conducted on Amerex’s ABC policies and procedures and adherence to these to ensure they remain appropriate and proportionate to its business.
When in doubt
Employees and business associates shall consult with the following persons for advice when they are unsure about their obligations under this policy – Ron Tan (rontan@amerex.com.sg) or Phil Jump (philjump@amerex.com.sg)
POLICY AND PROCEDURE
1. Anti-bribery Compliance Function
Amerex shall establish and maintain an ABC compliance function within the company to be responsible for all anti-corruption compliance matters, including:
- Overseeing the implementation of ABC policies and procedures;
- Providing advice and guidance to employees and business associates on implementation of ABC procedures and issues relating to bribery and corruption;
- Monitor and report the performance of ABC procedures to the Board on a yearly
2. Corruption Risk Assessment
Amerex Singapore conducts annual risk assessments for assessing the risk of or reporting the occurrence of bribery and corrupt practices – for example:-
- opportunistic corruption and fraud activities arising from weaknesses in the company’s governance framework;
- suspicious financial transactions indicating disguised corrupt payments;
- presence of business activities in countries / sectors with high corruption risk;
- significant change in the business landscape; and
- potential non-compliance of business associates acting on behalf of Amerex regarding legal and regulatory requirements related to anti-corruption.
3. Conflict of Interest
Conflict of interest exists when an employee is/could be influenced by a personal interest in carrying out their duties, which can be intentional, perceived or potential. Conflict of interest is an act that leads to partial decision making which constitutes the element of a corrupt conduct.
Conflicts of interest may arise directly or indirectly through an intermediary, such as a third- party, friends or family. As such, Amerex requires all employees to report any actual or potential conflict of interest such as family, financial or other connections directly or indirectly related to their line of work as soon as they are identified.
4. Gifts and Entertainment
Amerex adopt a “No Gifts” policy, whereby it is applicable to all employees of the Company. The employees must not directly or indirectly accept or provide any gifts and entertainment from any party, regardless of local business custom and practices, which will influence their decision-making in the course of carrying out their duties.
However, Amerex is aware of the reality of commercial and business practices that gifts and entertainment giving are a central part of business etiquette. Hence, subject to limited exception, the employees are only allowed to accept flowers, fruits and gifts with promotional intention (i.e. items bearing the promoter’s logo) and provide gifts and entertainment on the condition that the cost is within the threshold established by the Board.
5. Charitable Donations and Sponsorships
Charitable contributions (i.e. donations or sponsorships in cash, or in kind) shall be given only to legitimate charities for proper charitable purposes, or for purpose of local community or welfare development. Charitable contributions must be documented for approval and subject to the guidelines stipulated within Amerex to ensure the funding never improperly influences a business outcome.
6. Facilitation Payments
All employees of Amerex are strictly prohibited from giving and accepting facilitation payments for expediting or securing an action or approval made in return for a business advantage. All payments made to or accepted from external parties must be supported with appropriate evidence to avoid violation of this policy.
7. Due Diligence
Amerex shall conduct due diligence on employees, business associates and third-party organisations, either on a regular or one-off basis, where there is significant exposure to bribery and corruption risk. As part of the due diligence procedures, Amerex will perform a search of relevant databases, public information portals, documentation screening and interview to understand their background to ascertain any indication of implication in present or past unethical or unlawful activities.
The scope of due diligence to be performed on employees, business associates and third-party organisations may vary depending upon the circumstances / natures of each proposed transaction. Criteria and results of the due diligence processes must be documented as procedures outlined within Amerex.
8. Financial and Non-Financial Controls
Amerex adopts segregation of duties for job functions (i.e. financial and non-financial related). Designated personnel for preparing, verifying and approving each transaction / activity is documented in written procedures (i.e. internal standard operating procedures) and communicated to employees for adherence.
9. Record Keeping
Records include accounts, invoices, correspondence, memoranda, tapes, discs, papers, books, and other documents or transcribed information of any type. Amerex must maintain written records to evidence that adequate financial and non-financial controls established within Amerex have taken place to mitigate any bribery / corruption risks. All records shall be retained for at least seven (7) years from its date of generation, to enable Amerex to comply with any requests from the relevant authorities.
10. Raising A Concern
Employees, business associates and any external parties are encouraged to raise concerns in good faith about any issue or suspicion of malpractice at the earliest possible stage. If it is uncertain whether a particular act constitutes bribery or corruption, or if there are any other queries or concerns, these should be raised directly with Phil Jump or Andrew Mawicke or with any other member of the Board. In all cases Attachment D of the Amerex Compliance manual (Complaint Form) should be used to document the concern.
11. Training and Communication
All new employees will be briefed about this ABC policy and all existing employees will receive regular refreshment memoranda including but not limited to compliance with laws, regulations or internal written procedures relevant for Amerex’s line of business and the position they hold within the company.
Amerex acts with due care before engaging with new business associates and ensure that they acknowledge Amerex’s commitment on prohibiting bribery / corruption activities. A copy of Amerex’s ABC Policy and Data Protection Policy are made available to all business associates via its official website (www.amerexsingapore.com).
12. Monitoring and Review
Periodical internal audits shall be performed on ABC policy and procedures implementation and the results of such assessments will be reported to the Board on to the Board on a regular basis.