Introductions

Prestar Resources Berhad (123066-A), together with all its subsidiaries ("Prestar" or "the Group") are committed in maintaining high standards of corporate governance and integrity in the conduct of its business activities. In line with this, the Board of Directors ("Board") and the Management of Prestar, must maintain a workplace that practices good corporate governance in all its operational activities and business dealings. Whistleblowing is a platform to empower the employees and stakeholders to report any genuine concerns about any wrongdoing that they may have observed within the Group.

Objective

This Whistleblowing Policy is designed to uphold the Group's efforts and commitment in doing business with honesty and integrity, henceforth providing a transparent and confidential process in handling the whistleblowing reports. Prestar expects the highest standards of integrity from all its employees, Management, Directors and stakeholders (i.e. shareholders, customers, suppliers, contractors and consultants). Hence, the Whistleblowing Policy is structured to facilitate its employees and stakeholders to report instances of misonduct, wrongdoing, corruption, fraud, waste of Company's resources or abuse of rules and regulations within the Group without fear of retaliation.

Types of Wrongdoing

Some of the examples of reportable concerns which are non-exhaustive are as follows:

a)
Fraud, bribery, corruption, forgery, cheating or malpractice;
b)
Involvement in conflict of interest situations;
c)
Misappropiation or unauhorised use of the Group's funds or assets;
d)
Sexual harassment;
e)
Sale of proprietary information and/or collusion with competitiors;
f)
Giving false or misleading information and/or acts or ommisions which may cause loss to the Group;
g)
Non-compliance with Prestar's procedures or breach of internal control;
h)
Failure to comply with legal or regulatory requirements;
j)
Any attempt to conceal or suppress information relating to the above or other wrongdoings;

Whistleblowing Channels

(a) The whistleblower should report the suspected or known instances of wrongdoing directly to the Audit Committee Chairman.

(b) The whistleblower should disclose the following information:-

1.
Name of whistleblower
2.
Contact details
3.
Details of person(s) involved
4.
Nature of allegation, time and venue of the incident took place
5.
Provide evidencem if any together with the report

Whistleblower may choose to make an anonymous reporting but the Audit Committee reserves its right whether to proceed with the investigation or not.

(c) The report must be in writing, submit via post or email to whistleblow@prestar.com. Report prepared in such a manner must be properly sealed in an envelope and indicated "Strictly Confidential - To Be Opened by Addressee Only" and addressed to:-

Audit Committee Chairman of
Prestar Resources Berhad
c/o Securities Services (Holdings) Sdn Bhd
Level 7, Menara Milenium, Jalan Damanlela,
Pusat Bandar Damansara, Damansara Heights,
50490 Kuala Lumpur, Malaysia
T : +603 2084 9000 (general) | +603 2084 9182 (direct)
F : +603 2094 9940 | +603 2095 0292

(d) The Secretary of the Group who receives the report will forward the report to the Audit Committee Chairman, who will then conduct a preliminary assessment on the whistleblower's report received. The Group reserves the right to drop the whistleblower case received due to insufficient evidence or other factors.

(e) The whistleblower shall be notified on the outcome of the investigation, if appropriate.

(f) All investigations shall be tabled to the Audit Committee during the Audit Committee Meeting and the Audit Committee will subsequently update the Board on reports that require their attention and approval.

Proctection from Retaliation

This Whistleblowing Policy provides an assurance to the whistleblower that he/she would be protected against any unfair practice not limited to retaliation, threat or intimidation of termination/suspension of service, disciplinary action, transfer, demotion, refusal of promotion or any direct or indirect use of authority to obstruct the whistleblower from continuing making his/her disclosure.

The identity of the whistleblower shall not be revealed to anyone, inside and outside the organisation, except to the court upon involvement of any legal proceeding or required by the law.

Acting in Good Faith

Only genuine concerns should be reported under the whistleblowing procedures. This report should be made in good faith with a reasonable belief that the information and allegations are substantially true, and the report is not made for personal gain. Malicious and false allegations will be viewed seriously and if proven might lead to appropriate disciplinary action, including legal action, where it deems appropriate.

Confidentiality

All reports submitted will be treated as confidential and efforts will be made to maintain strict confidentiality of the employees, Directors or any stakeholders' identity consistent with the need to conduct an adequate investigation. The information obtained will only be revealed on a "need to know" basis or if required by law, court or authority.



 
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