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KUALA LUMPUR, 28 March 2019 – PETRONAS continues to enhance its education and communication activities to promote integrity with another round of Corporate Integrity Advocacy Programme (CIAP) for its top management.
The CIAP 2019 event, with the theme on “Corporate Liability – A Change in Corporate Integrity Landscape” will address the change in the corporate integrity landscape after the introduction of the corporate liability clause in the Malaysian Anti-Corruption Commission (Amendment) Act 2018.
The clause not only imposes liability on companies but also accord strict personal liability on their officers and members of senior management. The provision also has extra-territorial reach as it covers locally incorporated companies and partnership, as well as companies and partnerships incorporated overseas with business presence in Malaysia.
Senior Vice President & Group General Counsel Maliki Kamal Mohd Yasin, who represented PETRONAS President & Group CEO Tan Sri Wan Zulkiflee Wan Ariffin, at the event, highlighted that PETRONAS’ zero tolerance to bribery and corruption is crucial in maintaining an ethical, law-abiding culture which provides enormous benefit to the organisation.
“In June 2017, PETRONAS Management had signed the Corruption-Free Pledge (CFP), to strengthen the Company’s resolve towards becoming a graft-free organisation. The signing of the pledge signified continuous commitment in upholding high standards of governance and in combating any form of corruption within the organisation. The Company was also among the first in Malaysia to be certified with ISO 37001: Anti Bribery Management System certification in November 2017,” he added.
PETRONAS Chief Integrity Officer, Dato’ Rohaizad Yaakob said that the corporate liability clause requires all commercial organisations to take real measures to ensure their businesses do not participate in corrupt practices.
“PETRONAS has already subscribed to UK Bribery Act 2010 (UKBA), one of the internationally recognised laws on anti-corruption, as well as putting in place adequate measures as prescribed by the UKBA, including the establishment of PETRONAS Integrity Compliance Framework (PICF) in 2012,” he said.
The event today also signifies PETRONAS’ strong commitment in supporting the National Anti-Corruption Plan (NACP) with the attendance of Tan Sri Abu Kassim Mohamed, Director General of Governance, Integrity and Anti-Corruption Centre (GIACC). In the NACP (Strategy 6), corporate entities are required, among others, to inculcate good governance and establish greater resilience against the threat of corruption.
Issued by
Media Engagement
Group Strategic Communications
PETRONAS
