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Corporate Governance Policies |
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Corporate governance is about maximizing shareholder value legally, ethically and
on a sustainable basis, while ensuring fairness to every stakeholder – the Company’s
customers, employees, investors, vendor-partners, the government of the land and
the community. Thus, corporate governance is a reflection of a Company’s culture,
policies, its relationship with the stakeholders, and its commitment to values.We
arise in response to the separation of ownership and control following the formation
of joint stock companies. The owners or shareholders of these companies, who were
not involved in day-to-day operational issues, required assurances that those in
control of the Company, the directors and managers, were safeguarding their investments
and accurately reporting the financial outcome of their business activities.
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We are thinking
1. Effectiveness and efficiency of operations
2. Reliability of financial reporting
3. Compliance with laws and regulations
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We believe that sound corporate governance is critical to enhance and retain investor
trust. Accordingly, we always seek to ensure that we attain our performance rules
with integrity. Our Board exercises its fiduciary responsibilities in the widest
sense of the term. Our disclosures always seek to attain the best practices in international
corporate governance. We also endeavor to enhance long-term shareholder value and
respect minority rights in all our business decisions.
Our corporate governance philosophy is based on the following principles: |
1. Satisfy the spirit of the law and not just the letter of the law. Corporate governance
standards should go beyond the law.
2. Be transparent and maintain a high degree of disclosure levels. When in doubt,
disclose.
3. Make a clear distinction between personal conveniences and corporate resources.
4. Communicate externally, in a truthful manner, about how the Company is run internally.
5. Comply with the laws in all the countries in which the Company operates.
6. Have a simple and transparent corporate structure driven solely by business needs.
7. Management is the trustee of the shareholders’ capital and not the owner.
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At the core of our corporate governance practice is, the Board, which oversees how
the management serves and protects the long-term interests of all stakeholders of
the Company. We believe that an active, well-informed and independent Board is necessary
to ensure the highest standards of corporate governance. |
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