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Corporate Governance Statement

The Board of Directors ("the Board") of Salcon Berhad ("Salcon" or "the Company") is committed in ensuring that a high standard of corporate governance is practised throughout the Company and its subsidiaries ("the Group"). This is a fundamental part of discharging their fiduciary duty to safeguard shareholders' investments and protect their interests.

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Board Charter

The Board regards Corporate Governance as vitally important to the success of the business of the Group and are committed towards adhering to high standards of corporate governance as guided by the Malaysian Code on Corporate Governance 2012, the Listing Requirements of Bursa Malaysia, the Capital Markets and Services Act 2009 and the CA, in its effort to discharge its duties in ensuring an appropriate and sound governance system is implemented throughout the Group and to safeguard the interests of all stakeholders as well as to enhance shareholders' value.

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Board Charter Appendix

Code of Ethics & Conduct

The Company is committed to providing an environment that is free from discrimination and harassment and expected you to conduct yourself everyday in a way that helps us to maintain an outstanding reputation in the communities we serve. This written code is an important reference source and legally binding for employees, officers and directors. Additional guidance is provided in the HR Policies & Procedures Manual, Company's standard operating procedures and guidelines accessible in our W, J, Y Drive and E-Admin.

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Whistleblowing Policy

To enhance corporate governance practices across the Group, a whistle-blowing policy was adopted which provides Directors, officers, employees and stakeholders of the Group with an avenue to report suspected improprieties such as illegal or unlawful conduct, contravention of the Group's policies and procedures, acts endangering the health or safety of any individual, public or employee, and any act of concealment of improprieties. The aim of this policy is to encourage the reporting of such matters in good faith, with the confidence that the person filing the report, to the extent possible, be protected from reprisal, victimisation, harassment or subsequent discrimination.

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Risk Management

The Group strives to apply the highest standards of risk management to minimize, monitor and control the probability or impact of unfortunate events and maximize the realization of opportunities.

The Risk Management Committee in Salcon is guided by the Integrated Risk Management Policy, which is in compliance with ISO 31000 and applies to all of our operations in the Group. The committee consists of 2 directors and 2 senior management personnel from non-Audit Departments who report to the board on risk management issues.

Guided under the Integrated Risk Management Policy & Audit Charter, the Risk Management Department will identify, analyze, evaluate, follow up and report on any non-compliance issues in the Group. We also commit to regular rotation of auditors for a neutral audit process and seek shareholders' approval to re-appoint the same audit firm to conduct the Group's accounts audit.

Risk management assessments will be conducted before starting a new project to analyze the potential risk factors and are submitted to the Board for consideration to facilitate the decision making process. The risk management scorecard is also being reviewed on a half-yearly basis by the Internal Audit & Risk Management Department.

Anti- Corruption

As part of Salcon's Code of Ethics & Conduct, Salcon employees are expected to maintain high ethical and professional standards in dealing with government officials and members of the private sector. The Company's funds, property or services must not be given, either directly or indirectly, to anyone in an improper effort to obtain or retain business for the Company or to obtain special or unusual treatment in connection with a business transaction.

Giving or receiving gifts or hospitality is often an important part of maintaining and developing business relationships. However, all gifts and hospitality should be for a genuine purpose, reasonable, given in the ordinary course of business and should comply with the local law.

All forms of bribery and corruption are prohibited. We will not tolerate any act of bribery and corruption. Any breach of law in relating to bribery could result in disciplinary action being taken and ultimately could result in dismissal.

The Company's stand on anti-corruption is well-communicated to our intermediaries. New or existing suppliers are required to sign and acknowledge a Statement of Policies & Business Ethics before commencement of supply of any works or services. On the other hand, new or existing sub-contractors are also required to do the same by signing and acknowledging the Condition of Sub-Contract (in Letter of Award) or Particular of Terms & Conditions (in Work Order) on the clause of termination on corruption, unlawful or illegal activities.

In order to monitor and prevent fraud and corruption in the company, a yearly risk assessment is conducted by the Internal Audit & Risk Management department based on the procedures stated in the Risk Management System. The risk assessment report will be submitted to the Audit Committee and Risk Management Committee for review. As at FYE 2017, the Company neither made any political contribution nor faced penalties in relation to corruption. There is no staff disciplined or dismissed due to non-compliance with anti-corruption policy/policies.