We operate in a very different environment than we did 10, even 5 years ago. Company shareholders and public in general are holding corporations to a higher standard of social responsibility. Government around the world are taking more active roles in fighting corruption and misconduct. Our Code of Conduct supports us in this complex business environment. It acts as central guide and reference for employees in support of day to day decision making.

You are expected to “Speak Up” – seek advice on your concerns and make a report internally or to the Anti-Corruption Bureau (ACB)

“Facilitation Payment” is a minor payment to induce a (usually low-ranking) Government Official to expedite or secure performance of a routine duty which that person is already obliged to perform and where such payment would exceed what is properly due.

No. Facilitation payment is a type of bribe and is strictly prohibited

We should not tolerate any form of retaliation directed at anyone who raises a concern in good faith about a possible violation. Any act or threat of retaliation will be treated as a serious violation.

Offences for:

• Undue preferential treatment;
• Misuse of information acquired during course of duty;
• Allowing private interests to conflict with duties

i). Low employee morale;

ii). Decreased productivity;

iii). Penalties/Financial loss;

iv). Ruined reputations and tarnished company/brand image;

v). No invitations to tender

Transparency International is a third party organisation, which focuses on ending the injustice of corruption globally and promoting transparency at all levels. They have released a Corruption Perceptions Index, which ranks countries globally on how corrupted they are perceived to be (i.e. in terms of doing business, government etc). In 2021, Brunei was not ranked on the CPI due to insufficient evidence however previously Brunei was ranked at #35 in 2020. You can find further information on their website at https://www.transparency.org/.

Where there are two or more competing interests that could impair or influence an individual’s ability to make objective decisions. Typically a CoI occurs when private/personal interests interfere with Company’s interests.

When in doubt, ask yourself, “Could someone, NOT knowing all the facts, think that decisions made by you and organisation were influenced by personal interests or relationships?”

Yes, if there is an overlap/potential overlap of your professional relationship. When in doubt, submit a declaration to your company’s Code of Conduct register or speak with your management.

Yes. However, if there is a business or industry link with the company you’re currently working for and the company you’re holding shares in, you are encouraged to submit a declaration to your company’s Code of Conduct register or speak with your management to mitigate any potential conflicts.

Yes. However, if there is a business or industry link with the company you’re currently working for and the business you own, you are encouraged to submit a declaration to your company’s Code of Conduct register or speak with your management to mitigate any potential conflicts.

Self due diligence can takes place with search in public domain (i.e. Google, FCPA blog) to identify any adverse/negative news related to the third party entity, shareholders and senior manager

Ultimate Beneficial Owner is the person that is the ultimate beneficiary when an institution initiates a transaction. Ultimate beneficial ownership (UBO) red flags must be addressed before proceeding with the third-party. Verification requirements and standards can vary depending on the third-party risk.

You may request the third party company to provide their latest company registration certificate to identify the shareholders and directors.

Unknown UBO triggers Anti-Bribery & Corruption (ABC), Anti Money Laundering (AML),Trade Compliance (TC) and reputational risks:

• Reputational risk, for example, because the beneficiaries of the counterparty could be involved in corrupt or criminal activities
• ABC risk, for example, because the counterparty could be owned by a politically exposed person or government official
• This also poses a significant Trade Compliance Risk, for example because the UBO could be a Designated Person under EU sanctions or a Special Designated National under US law

Red flag mitigation will vary, depending on the nature of the allegation, charges or incident. Common examples of red flag mitigation include:

• Follow-up with third-party to confirm the counterparty’s position regarding the allegation or incident;
• Seeking assurance that a sufficient control program addressing the issue is in place;
• Seeking confirmation that individuals involved in an incident are no longer with the company; or
• Seeking assurance that individuals involved in an incident are not involved in the negotiation, management or execution of the contract with your company;
• Conduct ABC interview/ questionnaire;
• Discussion/ review of the third-party’s compliance policies or controls;
• Additional controls (e.g. contractual warranties and representations).
• Where the identity of individuals is in question (eg common names), request documentation from counterparty to confirm identity

Please note that the following types of G&H should never be offered or accepted by an employee during the course of business:

• G&H that are illegal under local law or under laws with international effect (e.g., Brunei Prevention of Corruption Act, FCPA, UK Bribery Act);
• Items of exceptional value;
• Hampers;
• Cash, cash equivalents, or financial loans;
• Personal services (such as lawn trimming, auto repair, painting at own residence, etc);
• Invitation to events where a business partner has offered hospitality but not attending the event;
• G&H that is or can be linked to important business decisions during sensitive decision periods;
• Per diem payments offered as an alternative to gifts, meals, lodging, entertainment or travel-related expenses (unless required by contract or local government regulation);
• Additional days of travel to tourist destinations and private visits, with or without the inclusion of family members/guests

​It is important to understand local customs but equally important to make company’s policies on G&H clear at the beginning of every new business relationship.

​Yes. We would remind all to use good business judgment when accepting any hospitality and determining if it serves a legitimate business purpose and consider if your acceptance would create any potential perception risks, especially during any commercially sensitive periods

Yes, we recognize that certain acts of hospitality are necessary for the continuation of a good business relationship but would remind you to be mindful of your company G&H threshold

You can seek assistance from the BEIIP members, by using the materials available on the BEIIP website. Alternatively, you can also engage the ACB to conduct a BI training for your staff if required.

The training course should cover expectations and awareness-level learning in areas such as Anti-Bribery, Conflict of Interest, Gifts & Hospitality, Interactions with Competitors, and Speaking Up.

All staff must undergo your company Code of Conduct training to ensure they understand the risks and the mitigating controls required.

Refresher training is recommended every 2 years