PART A

Summary

This presentation emphasizes the importance of anti-bribery and corruption, particularly within Malaysia's business environment. It highlights that corruption is not limited to public officials but affects civilians and corporate leaders as well. The Malaysian Anti-Corruption Commission Act (MACC) 2009, amended in 2018, holds companies accountable for corrupt practices. The IGB Group's anti-bribery policy enforces ethical conduct among employees, promoting integrity and the reporting of any corrupt activities. The presentation encourages choosing the path of integrity, even when challenging, as it defines our values and impacts both businesses and communities.

Takeaways

• 🎯 Anti-bribery and corruption is crucial for both business and personal integrity.
• 🇲🇾 Corruption is a significant issue in Malaysia, impacting both public and private sectors.
• 🏛️ The Malaysian Anti-Corruption Commission Act (MACC Act) of 2009, amended in 2018, holds companies accountable for corrupt practices.
• 🏢 The IGB Group has established a strong anti-bribery and corruption policy to comply with legal provisions.
• ⚖️ Corporate liability provisions mean companies can face consequences for corruption.
• 🤝 Employees are expected to adhere to high ethical standards and act with integrity.
• 🚫 Bribery and corruption can start subtly but lead to severe consequences like legal battles, fines, and loss of trust.
• 💼 Corruption affects businesses, jobs, and communities, leading to long-term harm.
• 🛤️ Choosing integrity, even in difficult situations, ensures alignment with personal and corporate values.
• 🔑 Integrity means doing the right thing, even when no one is watching, which defines personal and professional character.

Q & A

What is the main topic discussed in the transcript?

The main topic discussed is anti-bribery and corruption, focusing on its importance in the business and corporate environment, particularly in Malaysia.

Why is anti-bribery and corruption important for businesses in Malaysia?

Anti-bribery and corruption are crucial for businesses in Malaysia because corruption is a significant issue that can negatively impact a company's growth, reputation, and overall success.

What is the MAC Act 2009, and why was it amended in 2018?

The MAC Act 2009 is the Malaysian Anti-Corruption Commission Act, which was introduced to combat corruption. It was amended in 2018 to include corporate liability provisions, holding companies accountable for corrupt activities.

What has the IGB Group done to align with the MAC Act?

The IGB Group has established a robust anti-bribery and corruption policy that outlines their principles, stance, and adequate procedures to prevent bribery and corruption within their organization.

What is expected from employees of the IGB Group in relation to the anti-bribery policy?

Employees are expected to adhere to high ethical standards and conduct activities with integrity. They are responsible for preventing, detecting, and reporting any instances of bribery or corruption within the organization.

How can bribery and corruption start in a corporate environment?

Bribery and corruption can start subtly, such as through a small gift or a promise of a shortcut, and can escalate to more serious actions like offering cash-filled envelopes to gain unfair advantages.

What are the potential consequences of engaging in bribery for corporations?

Corporations involved in bribery can face huge fines, legal battles, lost trust, and even collapse, leading to job losses and negative impacts on communities.

What is the alternative to engaging in bribery or corruption?

The alternative is choosing a path of integrity, which means making ethical decisions and doing the right thing even when no one is watching.

What does it mean to act with integrity in a business context?

Acting with integrity means remaining true to one's values, making ethical decisions, and avoiding corrupt practices, regardless of how challenging it may be.

How does the transcript encourage employees to view their decision-making?

The transcript encourages employees to reflect on their choices and to consistently choose integrity, emphasizing that their decisions define who they are and shape the company’s ethical culture.