IntegrityWe act with integrity without compromise. Khazanah continues to strengthen its integrity-related framework to bring the objectives of the National Anti-Corruption Plan 2019-2023 (NACP) to fruition, and implements various programmes for our staff, our vendors and our investee companies toward this purpose. Khazanah also complies with various national directives on anti-corruption measures, among which include the development and execution of the organizational Integrity & Anti-Corruption Plan (IACP). The individual deliverables under the IACP are reported directly to the Board’s Audit & Risk Committee.
Integrity Message from the Chairman of Audit & Risk Committee (ARC)
Integrity is always at the forefront of the global agenda to tackle corruption. In Malaysia, this continues to be a critical national agenda, which encompasses commitments from all walks of life. Specifically, for corporate organisations, one of the core strategic objectives under the National Anti-Corruption Plan 2019-2023 (“NACP”) is to ensure greater corporate entities’ resilience against the threat of corruption. Furthermore, the coming into force of Section 17A of the Malaysian Anti-Corruption Commission Act 2009 (“Corporate Liability Provisions”), in line with global trends, places a huge obligation on organisations to ensure that corrupt business practices are not tolerated or condoned.
Organisations are now required to demonstrate that it has in place “adequate procedures” to prevent corrupt acts. This entails an overall programme founded on risk assessment, governance, process, monitoring and communications. More importantly, there must exists top level commitments from Senior Management and Board of Directors to ensure that corporate culture of integrity remains the “soul” of the establishment.
For Khazanah, the Board of Directors, via its Audit & Risk Committee (“ARC”), plays an important role in providing guidance to this organisation’s effort in combating corruption. In 2019, the ARC approved the 1st phase of Khazanah’s Integrity & Anti-Corruption Plan 2019-2020 (“IACP Phase 1”). Despite the challenges encountered, mostly due to the implementation of the Movement Control Order, I am pleased to note that IACP Phase 1 was successfully completed. I am further pleased to announce that Khazanah Integrity & Anti-Corruption 2021-2022 (“IACP Phase 2”) was approved by the ARC recently and demonstrates a strong commitment by the Board of Directors in endorsing a coordinated organisation-wide plan to address these matters.
In that regard, it is our utmost expectation that as Khazanah staff, you continue to demonstrate the highest standard of integrity in your professional conduct and activities. As Malaysia’s sovereign wealth fund, it is always our goal to become the standard-setter in what we do, and this includes matters such as zero tolerance against corruption and practicing a culture of integrity in its business conducts. In return, as further demonstration of our commitments at the Board level, we will continue to support efforts to establish and enhance proper governance, among others, so that a “safe to speak” working environment is in place, which will allow staff to raise any matter and concern without fear or favour. As Chairman of the ARC, this is our assurance to you.
To conclude, let us strive together to ensure that integrity is an embedded culture, not just at work, but also as a way of life.
DATO’ ZAINAL ABIDIN PUTIH
Board Member & Chairman, Audit & Risk Committee
Khazanah Nasional Berhad
Given our commitments to inculcate the culture of integrity in Khazanah, we encourage anyone to report any matters involving any transgressions of integrity or improper conduct involving the organisation.
We commit to ensure strict confidentiality and will not tolerate any retaliation or retribution taken in respect of reports or complaints lodged in good faith.
Any complaints or reports can be channeled to our dedicated email at [email protected].