Anti-Corruption Policy

 TTCL Vietnam Corporation Ltd. (TVC) operates under the management framework of business ethics, transparency and accountability; specifically in related processes or risk of corruption in all forms, either directly or indirectly to enhance stakeholders’ trust and indoctrinate good awareness and establish good value for directors, managements and employees in all level of the company.

TVC will also adopt Anti-corruption policy as guided by its mother company – TTCL Public Company Ltd. As necessary, TVC will inform to get support from the mother company for anti-corruption measures.

A. Definition of Anti-corruption policy

Corruption means any action, whether offering, promising, soliciting, demanding and giving or accepting assets or other benefits to government officials or other persons in business dealing with the Company, either directly or indirectly, as a motive for them to do or refrain from doing any act to acquire or keep benefits that are unsuitable to the business, except as allowed by laws, rules, notifications, local culture and tradition or commercial practice.

B. Anti-corruption policy

Director, Managers and Employee are prohibited from operating or accepting every type of corruption both direct or indirect manner covering every business under its control and company representative in countries including people relating to its business operations to comply with Anti-Corruption Policy. The Anti-Corruption Policy is needed to be reviewed regularly, including with a possible revision of such policy and implementation provision shall comply with business transformation, rules, regulations and laws.

C. Roles and Responsibility

  • The Board of Directors is responsible for determining the business direction and overall for Anti-Corruption of the company and consideration to approve the Anti-Corruption Policy and form an effective system supporting Anti-Corruption act in order to affirm that the executive management team intensively concerns, emphasizes, and cultivates Anti-Corruption mindset as the company’s culture.
  • Board of Management is responsible for determining Anti-Corruption system, promoting and encouraging Anti-Corruption manner conveyed to all staffs and related parties.

D. Anti-Corruption Guidelines

  • The Company shall conduct business with honesty and integrity.
  • Directors, Managers and Employees in all levels shall not get involved in corrupt practices or corruption in any form either directly or indirectly.
  • Directors, Managers and Employees in all levels are prohibited to offer bribe or reward to suppliers, government organizations or relevant persons. On the contrary, employees are prohibited to receive bribe or reward from suppliers, government organizations or relevant person. However, this regulation allows occasional greetings with traditional souvenirs.
  • Directors, Managers and Employees in all levels shall resolutely oppose unlawful or unethical practices, for example corporate racketeering, and shall not make unlawful or unethical settlements, financial or otherwise, as a consequence of such practices.
  • Directors, Managers and Employees in all levels shall immediately report any suspected corrupt practices or corruption to supervisor or a person responsible in this regard and cooperate in the investigation. In case of any problems, the employees shall consult their supervisor or a person responsible regarding the compliance with Business Ethics via provided channels.

 E. Measures / Operational

  • TVC will support and encourage its personnel at all levels to realize the importance of countering corruption and raise their awareness in this respect. In addition, the Company has implemented effective internal controls to prevent all forms of corruption and bribery in countries and regional where the company has business.
  • The Anti-Corruption Policy also covers Human Resources procedures including recruitment and selection process to the promotion, training, performance appraisal and benefits provided to employees. Supervisors at all levels must communicate with their subordinates to make them understand and adopt these guidelines in all business activities under their responsibility and to monitor such implementation to be the most effective.
  • TVC will provide fairness and protection of employees or other person who inform about the corruption relevant to the Company and its subsidiaries including the employees who refuse to act on corruption by not demoting, punishing, or causing negative impacts. The Company will strictly provide protection to the complainant or the person who cooperates in reporting corruption as defined in measures for reporting and whistle blowing.
  • Offenders of corruption are considered those who violate employment regulations in regard to personnel management will receive disciplinary punishment and legal punishment if such offences are also against the law.
  • The Company communicates its Anti-Corruption Policy including channels of whistle-blowing, complaint or recommendations within the Company through various means such as announcement board, information given i.e. new employee orientation for understanding in the implementation of the policy and to the public and stakeholders through various means such as the Company’s website or annual report.

Anti-corruption Guidelines

In order to clarify procedures in subjects at risk of corruption, Board of Directors, the Executive Management Team and employees at all levels must act with cautiousness when dealing with the following matters.

A. Corporate Philanthropy or Public Charity

Corporate philanthropy or public charity may place the company at corruption risk. Since donation activities involve spending the company’s funds without constructive returns, such could be misused as means of corruption.

To avoid misusage of corporate funds for corporate philanthropy or public charity; the company’s policy, monitoring and control procedures regarding corporate philanthropy or public charity are as follows;

  • Donations must be made transparent, legal, and must not be activities that contrary to good morals, or have negative impact on the society.
  • Donations must not be made in an exchange for any personal or organizational benefit. The company refuses to allow misusage of such charitable activities for purposes that lead to corruption.
  • Forms of charitable activity can be in cash such as donations for national disaster relief, or in-kind such as computers donation to support education.
  • Donations must be proved for its existence; that such activities are carried out for charitable purposes and pubic benefits. Aforementioned actions must be verifiable and successfully carried out to the benefits of the society and in conformance with the company’s CSR objectives.
  • Donations must be reported in internal memorandum, indicating the recipient’s name and the purpose of charitable contribution. All supporting documents must be submitted for the company’s authorized person approval.

B. Sponsorship

Sponsorship differs from corporate philanthropy or public charity. It is considered as a channel to promote the company’s business, display its logo, build business reputation and reliability, and strengthen business relationships.

Sponsorship can be a risk of corruption as it involves with cash payment or other benefit which are difficult to detect or evaluate, and can be related to bribery.

The company’s policy, monitoring and control procedures for granting sponsorship are as follows:

  • Sponsorships must be granted transparent, legal, and must not be activities that contrary to good morals, or have negative impact on the society.
  • Sponsorships must be verifiable and must not be made in an exchange for any personal or organizational benefit. The company refuses to allow misusage of sponsorships for purposes that lead to corruption.
  • Forms of sponsorship granted both in cash or in-kind which can be converted into cash such as food and accommodation or equipment.
  • Sponsorship projects must be verifiable. The individual soliciting sponsorships must carry out activities in accordance with the planned project. This is to ensure that the genuine purpose of any grant is completed successfully to benefit the society and that it is in conformance with the company’s CSR objectives.
  • Sponsorships must be made with internal memorandum, indicating the recipient’s name and the purpose of sponsorship. All supporting documents must be submitted for the authorized persons’ approval.

C. Giving and Receiving Gifts, Hospitality and other benefits

The company recognizes that fostering positive relationship with business partners is the key to its ongoing success. Board of Directors, the Management Team, and employees are permitted to offer and accept gifts, hospitality, and other benefits to/ from any person or any organization. However, all conducts must conform to the following regulations;

  • Giving and/or receiving must be revealed.
  • Give and receive in the company’s name, not in the employee’s name
  • Give and receive without the intention to influence, induce or reward any person or organization to gain improper business advantage or undue exchange for favors or benefits.
  • Give and receive only goods, not cash or cash equivalent such as gift certificate, gift voucher.
  • Give and receive in accordance with the company’s regulations and not violating to the law.
  • Give and receive in appropriate circumstances. For instance, it is customary to exchange gifts during special occasions; such as New Year, traditional New Year (TET holidays) and festivals. Also, it is a proper etiquette to arrange welcoming celebrations for certain individuals in consideration of their positions and duties.
  • Give and receive in appropriate timing. For instance, Board of Directors, the Management Team, and employees must not give/ receive gifts, or other benefits to/ from any organization involved in the bidding of the company’s tendering process.
  • Board of Directors, the Management Team, and employees are permitted to receive gifts under conditions provided in 1 – C.7. In cases where the following conditions are not met and the receipt of gifts cannot be denied, the higher authority must be informed. The receipt of gift report must be provided for consideration of the appropriate conduct.
  • When Board of Directors, the Executive Management Team and employees wish to offer gifts to partners or any organization, the internal memorandum, attached with relevant documents, must be submitted for the authorized persons’ approval.

D. Company Business & Related persons

 Mother Company

TVC will inform and get certain support from its mother company – TTCL Public Company Ltd. regarding anti-corruption policy and measures, as necessary.

  • Agents and other intermediaries

Board of Directors, the Executive Management Team and employees are prohibited to employ agents or any kind of business intermediaries for the purpose of committing acts of bribery or corruption.

  • Supplier/ service provider, and contractors

TVC will conduct the procurement of goods and services in a fair and transparent manner and will act with due care when evaluating prospective suppliers, service providers, and contractors. The company shall inform the suppliers and contractors of its anti-corruption policy. The company reserves the right to terminate a relationship if it is discovered that the other party has paid bribes or acted corruptly.