TOP GLOVE BUSINESS ETHICS
HONESTY, INTEGRITY,
TRANSPARENCY
Top Glove strongly believes that companies which live by a set of good values are more likely to thrive, as they attract and retain highly ethical employees and at the same time, gain public trust.
Upholding the highest standards of corporate governance throughout our business is the cornerstone of our corporate strategy. We are committed to gaining business on merit, capability and fairness. We also uphold the UN Global Compact (UNGC) Ten Principles which focus on Human Rights, Labour, Environment & Anti corruption.
Initiated by our founder, Tan Sri Dr Lim Wee Chai, Top Glove participated in the ISO 37001:2016 Anti Bribery Management System (ABMS) pilot programme in 2017, hosted by SIRIM QAS International. Top Glove Group’s practice covers anti bribery & anti corruption control, awareness & training, ethics & conduct as well as corruption risk management.
We strive to be the driver of positive change. Our Factory 9 in Meru, Klang was the first manufacturing facility in Malaysia to be certified the ISO 37001: 2016 Anti Bribery Management System (ABMS).
In FY2020, we embarked on new journey where the extension and expansion of harmonised MACC Adequate Procedures & ISO 37001:2016 Anti Bribery Management System (ABMS) project was initiated which covers Top Glove Corporation Bhd in which we oblige to comply with Corporate Liability Provision Section 17A that was enforced in 1st June 2020.
With endorsement from Board of Directors and Top Management, Anti Bribery & Anti Corruption Management System is implemented to corporate and operational groups in Top Glove Corporation Bhd.
Top Glove employees are required to sign Corruption Free Pledge every year to vouch that they will not condone or be involved in any corrupt practices, including facilitation payment. New staff of all levels are required to attend compulsory training specifically focused on combating corruption. Refresher courses on this subject are also conducted to long serving staff. Besides having hosted talks and participated in events with some of the notable drivers of business integrity in the country such as Transparency International and Trident Integrity, it has organised its own Top Glove Anti Corruption Day during which all senior management signed Corporate Integrity Pledge.
Top Glove does not make any monetary contributions and expenditure for political campaigns, political organizations, lobbyists or lobbying organisations. We do not create or influence public policy or support specific political parties.
Top Glove formed the Corporate Integrity to manage ABMS and initiate anti corruption efforts such as Whistleblowing Policy & Procedures, corruption free pledges, integrity roadshows and many more, as we consider anti corruption and prevention as our ongoing journey.
Management Incentive/
Executive Compensation Linked to ESG Metrics
Towards further ensuring that the Company’s sustainability goals are advanced, Management is held accountable for the achievement of these goals, with executive compensation tied in with the managing of identified material Environmental, Social & Governance (ESG) issues.
To this end, 40% of their Key Performance Indicators (KPIs) are related to the Social & Environmental pillar and aligned with the Group’s top 5 material issues. The ESG metrics used to determine executive compensation include:
| ESG Metric | Performance indicator |
|---|---|
Tax Principles & Strategy
Top Glove has outlined clear and sustainable tax strategies, articulating the following commitments:
- Compliance with the spirit as well as the letter of the tax laws and regulations in countries in which we operate.
- Not to transfer value created to low tax jurisdictions.
- Not to use tax structures without commercial substance.
- Undertaking of transfer pricing using the arm’s length principle.
- Not to use secrecy jurisdictions or so-called “tax havens” for tax avoidance.
- The tax policy to be approved and overseen by the Board of Directors.
Management System & Product Certification
As the world’s largest manufacturer of gloves, Top Glove is committed to demonstrate our top quality, environmental and safety performance in order to drive continuous improvement cross our manufacturing business. We uphold our commitment towards Environmental, Social and Governance aspects through certifying our factories with various management system and product ertification. Below is the list of our applicable management system and product certification.
a. Management System Certification
| Type of Management System Certification | Year of Certified since |
|---|---|
b. Product Certification
| ESG Metric |
|---|
|
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