The MISC Group is governed by the Code of Conduct and Business Ethics (CoBE), which sets out MISC’s core principles in this regard; emphasizing the principles of discipline, good conduct, professionalism, loyalty, integrity and cohesiveness that are critical to the success and well-being of the Group. The CoBE contains detailed policy statements on the standards of behavior and ethical conduct expected of each individual who works at MISC.
The CoBE Guide is a user friendly guide which will serve to illustrate the application of the CoBE in practice.
CoBE – Country Supplement
In view of the CoBE’s international application, some provisions of the CoBE will be modified to adapt the CoBE to the requirements of the local jurisdictions which PETRONAS is operating. The country supplement is to cater to the respective local jurisdiction, applicable legislation and social mores.
Anti-Bribery and Corruption (ABC) Manual
The MISC Anti-Bribery and Corruption (ABC) Manual emphasises the Group’s zero tolerance policy against all forms of bribery and corruption. It provides guidance to employees concerning how to deal with improper solicitation, bribery and other corrupt activities and issues that may arise in the course of business. There are strict provisions within the ABC Manual that specifically addresses MISC’s anti-corruption practices, amongst others, with regards to entertainment and corporate hospitality, dealings with public officials, political contributions and the “No Gift” policy.
All directors, employees or third parties that work with or on behalf of the company are subject to the relevant parts of the ABC Manual. Joint venture companies in which MISC is a non-controlling co-venturer and associated companies are encouraged to adopt similar principles and standards.