- Global
Ethical Business & Regulatory Compliance
Why Is It Material
We are subject to applicable laws and regulations of many jurisdictions and multiple industries. We comply with these laws and regulations to maintain our licences to operate. We have zero tolerance for fraud and corrupt practices and ensure we meet all relevant laws and regulations.
As a company listed in Singapore, we are also bound by the listing rules and guidance promulgated by the Singapore Exchange (SGX), and we also comply with the requirements listed in the Singapore’s Code of Corporate Governance.
How We Manage
The Risk & Assurance function oversees matters relating to governance, risk and compliance. It has in place a regulatory compliance framework and continually train our global workforce on our Code of Business Conduct and Ethics (Code).
What We Do
We have promulgated the Code to govern professional and ethical conduct of all employees. The Code sets out the guiding principles and desired behaviour with which our people are expected to operate, and embraces the business practices and standards of behaviour that support our commitment to honest and ethical business conduct. Many standards set out in the Code have also been embedded in various policies and procedures.
To support our position of zero tolerance for fraud and corrupt practices and ensure we meet all relevant laws and regulations, we continue to:
- Maintain a whistleblowing programme where violations of our Code, laws, regulations, or any other wrongdoings may be reported anonymously
- Train all employees on the Code annually as part of our compliance and ethics training programme
- Train relevant employees on Anti-bribery and Corruption topics every two years
- Maintain management systems (such as quality, environment, occupational safety and health) certified to international standards
- Maintain a regulatory compliance framework that proactively identifies applicable laws and regulatory obligations, and embeds compliance into day-to-day business processes
- Distil and share lessons learnt from audit findings, violations, fines and penalties, if any
- Review our compliance policies from time to time to move towards a global and harmonised approach of managing risk and compliance matters
- Identify and implement e-initiatives to enhance controls and compliance
As a responsible defence manufacturer, we do not design, produce or sell anti-personnel mines, cluster munitions, white phosphorus munitions and their related key components.