Serba Dinamik Holdings Berhad believes the Board of Directors is committed to high standards of corporate governance to ensure that it is practiced throughout the Group as a fundamental part of discharging its responsibilities to protect and enhance shareholders’ value and raise the performance of the Group.
The Group’s corporate governance framework is directed towards achieving its business objectives in a manner which is responsible in accordance with high standards of honesty, transparency and accountability.
The Board continuously reviews its corporate governance framework to ensure its relevance, effectiveness and sustainability in conducting the business and in addressing the challenges of the business.
Taking cognizance of the introduction of Corporate Liability in the recent amendment to the Malaysian Anti-Corruption Commission Act 2009 (MACC Act 2009), which would come into force on 1 June 2020, the Company has taken proactive actions to ensure that it has adequate procedures in place designed to prevent associated persons from undertaking conduct that would trigger the newly introduced Section 17A of the MACC Act, 2009.
The Corporate Liability provision criminalises a company based on illegal actions by the employee without the presence of adequate procedures, for the benefit of the company.
The Company conducted a session on 29 October 2019 and 20 February 2020, to equip the Directors with the relevant understanding on their liability and penalties imposed for the offences, if any.