BUSINESS

SIME DARBY CONCERNED OVER LIBERTY SHARED'S STATEMENT BUT WELCOMES RECOMMENDATIONS

07/08/2020 07:29 PM

KUALA LUMPUR, Aug 7  -- Sime Darby Plantation Bhd (SDP) today expressed its concern over a recent statement by Liberty Shared (LS), saying it insinuated the possibility of one of Malaysia’s most respected banking institutions colluding with the company to wage theft and money laundering.

SDP referred to the statement made by LS dated Aug 4, 2020 titled, ‘Response from Liberty Shared to statement by Sime Darby Plantation Berhad dated July 10, 2020 and statement by Malaysia’s Ministry of Human Resources dated July 16, 2020’.

“In its latest statement, LS highlighted the risks of bribery, as well as wage theft and money laundering when our workers hold their account at the same bank as SDP. These issues were not mentioned in LS’s earlier petition summary report to which we had clarified our position and current practices.

“This veiled remark must be substantiated with strong and clear evidence, as by implication, it also raises the question on the credibility of the related financial institution that is subjected to stringent banking laws and regulatory framework. SDP has no means to investigate these issues thoroughly without substantive details,” the company said in a press release.

Moreover, SDP stressed, if there were any instances of such allegations previously, the vocal, independent and formidable National Union of Plantation Workers (NUPW) would have brought the issue to light and conducted an immediate probe.

It said the Malaysian Department of Labour had also been conducting regular inspection on the wages paid and would have taken prompt action against SDP, had wage theft occurred.

“As a multinational public listed company operating in 16 countries and serving the interests of a large number of stakeholders, SDP has put in place a robust framework and various policies and operating procedures on corporate governance, risk management and internal controls, that extend beyond the regulatory and commercial requirements.

“They were painstakingly developed over the years and strictly put into practice, in line with the core values embraced and subscribed by the Board, Management and employees of SDP,” it said. 

SDP has among others, a Human Rights Charter, Modern Slavery Act Statement, Code of Business Conduct, and Anti-Corruption Policy Statement.

“As part of our commitment to ethical business practices, SDP has also implemented an Anti-Corruption Management System (ACMS), in which we adopt a zero-tolerance policy against all forms of bribery and corruption.

“The ACMS is based on the requirement of ISO 37001:2016 and is managed via an independent function within the Group. In line with the ACMS, SDP provides channels to communicate any concerns on bribery and corruption without fear of retaliation,” it said.

The company has a Whistleblowing Policy and Channel, “which are established to help all stakeholders raise concerns, without fear of retaliation, on any wrongdoing that they may observe within the Group”.

SDP noted that LS in its latest statement had also questioned the ability of non-government organisations (NGOs) in assisting with issues pertaining to corporate governance, risk management and internal controls.

“While we understand the concerns raised, SDP stands by the excellent work, dedication and passion that our NGO partners have demonstrated in ensuring we continue to improve our operations.

“These organisations have helped both us and the industry at large to devise and implement changes for progress in numerous areas over the years,” it said.

It said SDP would continue to engage and work with NGOs and like-minded organisations that share a common objective to further improve its own standards and practices, as well as raising the bar on sustainable growth for the industry.

Meanwhile, it acknowledged the recommendations made by LS in the statement.

“In that regard, and where applicable, we shall take into consideration those recommendations as part of our continuous and on-going efforts to improve SDP’s internal controls and governance.

“We have taken note that some of the other recommendations referred to measures that should be adopted ‘by the palm oil industry’ in general. Some of these recommendations have already been clarified and addressed by SDP in our previous statement dated July 10, 2020.”

SDP said it welcomed feedback from its stakeholders with any information that could help the company to conduct full and proper investigation on any malpractices that may have occurred within its operations.

The company emphasised that it would not hesitate to take action against any officer, staff or individual found to be guilty of any offence.

“We do not condone misdeeds and any such suggestion goes against the core values of our company that we zealously guard.

“In the spirit of openness, transparency and collaboration that SDP has always upheld, we intend to continue engaging with Liberty Shared to obtain further clarification and discuss its latest statement.

“SDP endeavours to provide further updates on this matter as well as our continuing discussion with LS, as soon as there are any new developments that would be of interest to our stakeholders,” it added.

-- BERNAMA

 

 


 


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