WEC ETHICS POLICY

Introduction

WONG ENGINEERING Corporation Berhad (“WEC” or “the Company”) will conduct our business in accordance with the highest ethical standards and in full compliance with all laws and regulations, and we encourage employees to address ethical questions with Management so that we can maintain our high corporate standards. The high standards of business ethics that have characterised our approach to business in the past demand high professional standards, place a premium on integrity and fair dealing in relationships with our customers, suppliers, communities and employees. The Ethics Policy is an important document issued by the Board of WEC to the Management and employees of the Company as a testament of our commitment to subscribe to the following principles when conducting business.

Our Commitment

  • WEC uphold the highest of ethical and professional standards through fair and honest dealings with employees, business partners, stakeholders and other persons having dealings with the Company, as follows:
    • Employees: We are committed to diversity in a working environment where there is mutual trust and respect and where everyone feels responsible for the performance and reputation of our Company. We will recruit, employ and promote employees on the sole basis of the qualifications and abilities needed for the work to be performed. We endeavour to support fair practices in the work place and equal opportunities in employment regardless of race, creed, religion and national origin. We are committed to providing safe and healthy working conditions for all employees and will not use any form of coercion, compulsory or child or illegal labour. We believe in continuous training and development to equip employees with required skills and capabilities to perform their work effectively. We respect the dignity and rights of each individual employee to freely join any association. We strive to maintain good working relationships with employees through open communication and consultation procedures.
    • Business partners: We are committed to establishing mutually beneficial relations with our suppliers, customers and business partners. In our business dealings, we expect our partners to adhere to business principles consistent with our own. We place high importance on customer satisfaction and good faith in all agreements, quality, fair pricing and after-sales service.
    • Shareholders: We will conduct our operations in accordance with internationally accepted principles of good corporate governance. We will ensure timely, regular and reliable information on our activities, financial situation and performance are provided to shareholders.
    • Community involvement: We strive to be a trusted corporate citizen and, as an integral part of society, to fulfil our responsibilities to the societies and communities in which we operate.
    • Environmental commitment: We are committed to making continuous improvements in the management of our environmental impact and to the longer-term goal of developing a sustainable business. We will work in partnership with others, whenever possible, to promote environmental care, increase understanding of environmental issues and disseminate good practices.
  •  We respect the law and endeavour to comply at all times with the regulatory requirements of the countries in which we operate;
  •  We act with integrity and avoid any conflicts of interest;
  • We do not place ourselves in situations which result in divided loyalties; and
  • We are to use, protect and keep confidential all the Company’s assets and business information responsibly and in the best interest of WEC.

Compliance, Monitoring and Reporting

Compliance with these principles is an essential element in our business success. The Board of Directors of WEC is responsible for ensuring these principles are communicated to, and understood and observed by all employees of the Company. Day-to-day responsibility is delegated to the Senior Management of the respective departments. They are responsible for implementing these principles, if necessary, through more detailed guidance tailored to required needs. Assurance of compliance is given and monitored each year. Compliance with the Ethics Policy is subject to review by the Board. Any breaches of the Ethics Policy must be reported in accordance with prescribed procedures. The Board will not criticise Management for any loss of business resulting from adherence to these principles and other mandatory policies and instructions. The Board expects employees to bring to their attention, or to that of Senior Management, any breach or suspected breach of these principles. Provision has been made for employees to be able to report in confidence and no employee will suffer as a consequence of doing so.