The Code of Business Ethics (“the Code”) provides guidance to the Board of Directors and employees of Malaysian Technology Development Corporation Sdn Bhd (MTDC) on the expected behaviour and key principles of MTDC in creating sustainable business relationships, acting with integrity, honesty, accountability and professionally, and to comply with applicable laws and regulations.The following Code must be observed by the Board of Directors and all employees of MTDC:
- Do not advance personal interests at the expense of, or in conflict with MTDC;
- Refrain from corruption, unfair competition, fraud, waste and abuse;
- Do not undertake any practice that is detrimental to the industry, environment, society and MTDC;
- Abide by both the spirit and all applicable laws, rules and regulations; and
- Do not influence the decision of any party, including government officials, agencies, and courts, as well as customers, business partners, suppliers, auditors and etc.
Board of Directors and employees of MTDC must promote business relationship founded upon an unwavering respect for the intellectual property rights, proprietary information and trade secrets, and customers. The usage of MTDC’s assets are solely to achieve the mission and vision of MTDC.
MTDC expects its customers, suppliers, vendors, business partners, advisors and others who enter into contract with MTDC to understand, respect and abide by MTDC’s ethics, standards and culture. The Red Book, issued by the Putrajaya Committee on Government-Linked Companies High Performance (PCG), which provides best practices of procurement activities should act as a reference manual (Refer to Attachment 1) to MTDC.
To encourage an open culture of compliance to the Code, MTDC has established a Whistle Blowing Policy for the reporting of unethical behaviours which are subjected to investigation by designated officers of MTDC.
This Code applies to MTDC and its subsidiaries. The Board of Directors and all employees of MTDC must comply with various applicable laws and regulations and preserve and protect MTDC’s ethical values at all time.
The Red Book – Best Practices on Procurement
The principles of the Code of Business Ethics (Code) support the core values of MTDC and are consistent with the Red Book, which is a reference manual for procurement best practices issued by the Putrajaya Committee on Government-Linked Companies High Performance (PCG).
- Act with integrity
Suppliers will conduct all procurement and business relationship with integrity, respect and trust and will not disclose confidential or competitive information or data to any unauthorised party.
- Maintain accountability
Full accountability for services rendered / goods provided and honour their commitment on a timely basis and in accordance with their obligations under the specific agreements and undertaking with MTDC.
- Avoid the appearance of or actual conflicts of interest
Suppliers with a real or potential conflict of interest are expected to declare this to MTDC even if such knowledge arises after appointment and to take action to proactively address that conflict as soon as it is known. If in doubt, these should be highlighted to MTDC.
- Abide by the rule of law
Suppliers will comply with all applicable laws and regulations and will avoid practices which can give rise to charges of bribery, corruption and prohibited business practices.
- Honest presentation
Supplier will provide honest and open representation of the organisation, its qualification, experience and capabilities. Suppliers will also disclose accurate reference of previous work or engagements which they have undertaken.
- Prohibit any form of fits/ business courtesy to procure favours and / or unfair advantage
Suppliers will never offer a bribe kickback, bartering arrangement for goods or services or cash or any other incentives to MTDC employees and / or their families in order to obtain or maintain MTDC’s business. Suppliers should report to MTDC if any MTDC employees or business associates request for any such incentives.During a bid or evaluation process, suppliers should refrain from entertaining or treating MTDC employees in the evaluation and/ or their families such as providing special invitation to events or other functions.Any gifts given or received must be in compliance with the law and must not violate the giver’s and receiver’s policies on such practice. It is understandable that in certain industries, promotional items are part of normal business practice and it is MTDC’s policy that employees declare internally on any gifts received.
The word “suppliers” in the context of the Code extends to MTDC professional service providers including advisors, consultants and other business associates in addition to suppliers of goods and other services.