Sustainability Report Integrity, Compliance, Assurance and Reporting Concerns Wasco’s commitment in ensuring that integrity and compliance are observed in the day-to- day business operations, are pillars to a sustainable foundation of our culture and a business priority. We set high expectations to all our employees as outlined in our Principles of Business Conduct. These vital values of integrity and compliance are the fundamentals to good governance. Anti-Bribery and Corruption Wasco’s Anti-Bribery and Corruption Policy (“ABC Policy”) and Anti-Bribery and Corruption Management System (“ABMS”) together with its 24 Standard Operating Procedures (“24 SOPs”) established on 1 June 2020 and 1 December 2020 respectively are testimony of the Company’s initiatives and commitment towards an organisation that are integrity and compliant oriented. These fundamentals have been deeply rooted into the business perspective and in its corporate culture. Wasco adopted a zero-tolerance approach against all forms of bribery and corruption, such as fraud and illegal kickbacks. Wasco’s ABC Policy sets the tone and standards on anti-bribery and corruption across the Group while the ABMS together with its 24 SOPs communicate its comprehensive approaches and processes in deterring, mitigating and addressing corruption risks including bribery, fraud and corrupt acts. Wasco’s ABMS and its 24 SOPS are aligned to SIRIM ISO 37001:2016 standards and are the best practices as prescribed under Section 17A of the Malaysian Anti-Corruption Commission Act 2009 (Amendment 2018) (“MACC Act”). Wasco’s ABC Policy fulfils the provisions of the Guidelines on Adequate Procedures pursuant to Section 17A (5) of the MACC Act. Coverage of ABC Directors Employees Vendors Contractors Sub-contractors Consultants Clients Customers Representatives Business associates (including joint venture and consortium partners) Other intermediaries performing works or services, for and on-behalf of Wasco The ABC Policy applies to the Board of Directors and employees within Wasco. They have all completed the necessary initial training on anti-bribery and corruption as well as yearly refresher trainings pertaining to the same. The Board of Directors oversees our compliance with ABC Policy and the ABMS together with its 24 SOPS via the Governance, Compliance and Risk Committee and the Integrity Committee accordingly. Every employee is responsible for preventing and reporting instances of corruption, bribery, suspicious activity or wrongdoing which may lead to bribery and corruption using our established whistleblowing channels. Wasco recorded zero case related to bribery and corruption and received no (RM0) penalties due to ethical conduct breaches such as corruption during the year under review. A keen understanding of corruption risk exposure is the foundation of an effective anti-corruption compliance programme. Corruption risks, including bribery, are important elements in the Business Units’ risk register. This keen understanding helps the Company design effective mitigation strategies and strategically deploy resources to combat potential bribery, corruption and fraud, especially for high-risk operations. 60 Integrated Annual Report 2023
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