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Financial Reports &
Governance Other Information HENGYUAN REFINING COMPANY BERHAD l ANNUAL REPORT 2023 75

HRC’s business integrity management comprises the b. BUSINESS INTEGRITY ACTIVITIES
following key controls:
Various activities were organised to strengthen the
a. ANTI-BRIBERY MANAGEMENT SYSTEMS MANUAL culture of business integrity in line with HRC’s core
values.
Business integrity is recognised as one of the main pillars
of HRC’s General Business Principles. All employees In December 2023, the Risk and Integrity Department
are expected to exercise integrity regardless of their organised the annual Business Integrity Week.
department or career level as Integrity is one of the The programme, called “ICARE for Integrity - Integrity
HRC’s core values. Matters” was organised to reinforce the core value
of HRC. A talk on “Integrity and Sustainability” was
The HRC Anti-Bribery Management Systems Manual delivered by the officer from Malaysian Anti-Corruption
(ABMS Manual) outlines the procedure, integrity Commission (MACC). Other talks were organised
screening and ethical behaviours expected from to strengthen ethical decision making in line with
the employees and business associates to avoid any Environmental, Social and Governance (ESG) initiatives.
instances of bribery, corruption or receipt of monies “Integrity Run”, a fun programme had been carried
derived from money laundering activities.
out during the annual Business Integrity Week to
The ABMS Manual was approved by the Board who is foster integrity at work.
committed to ensuring that ethical business practices These activities were organised to reinforce ethical
are being adhered to and adequate controls have been leadership, good governance, accountability and
put in place by the Company to mitigate the risk of individual integrity.
bribery and corruption.
The ABMS Manual covers areas such as: 6. COMPLIANCE MANAGEMENT
i. The contracting and procurement process The Management team led by the CEO is responsible
for ensuring day to day operational compliance within
ii. Offering and receiving gifts and hospitality
the Company.
iii. Conflicts of interest
HRC’s compliance management includes compliance
iv. Facilitation payments to all relevant laws, regulations, rules and guidelines.
It also covers risk-based compliance to the Company’s
v. Funding social investment, donation and sponsorship
internal policies, procedures, and code of conduct.
vi. Political payments and activities
In 2023, no major non-compliance was encountered.
vii. Recruitment
7. CODE OF CONDUCT
The ABMS Manual and its contents have been
communicated to all employees via memorandum, The Code of Conduct (Code) applies to every employee,
HRC’s intranet and in-house training. The same has also officer, and director in HRC as well as contract employees
been communicated to all vendors, suppliers, contractors working for HRC. Contractors and consultants who are
and any third parties that have business dealings agents of, or working on behalf of, or in the name of HRC
with HRC. (through outsourcing of services, processes or any business
activity), are required to act consistently with the Code
Employees and parties having business dealings with
HRC have also been requested to sign an integrity when acting on HRC’s behalf. Contractors and consultants
pledge to show their commitment towards ABMS are also made aware of the Code as it applies to their
Manual and to disclose any confirmed or potential dealings with HRC employees.
conflict of interest via HRC’s annual declaration process.
Business associates and senior management are subject
to integrity due diligence checks from time to time.

The ABMS Manual and HRC’s General Business
Principles are accessible to the public on HRC’s corporate
website.