Gift policy

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Gift and Hospitality Policy


Definitions

Stakeholders means persons/entities directly or indirectly impacted by the Company’s business or involved with the Company’s interests or impacting on the Company’s business, such as the Company’s directors, shareholders, customers, suppliers, competitors, creditors, employees, social and communities and environment.
Gift, tokens, assets, or any other benefits means anything of mental values, cash or non-cash, that are courteously given on important occasions according to common customs and culture, to award, honor, support, or to be given out of kindness. They could be privileges to service, entertainments, recreations, or coverage of expenses related to traveling, accommodations, meals, or any other similar expenses, such as tickets, lotteries, etc. It also includes tokens given out of courtesy, or in accordance with local traditions, such as New Year gifts, birthday presents, or congratulatory new job gifts, etc.
Hospitality means receptions, provision of food and drinks, and recreational activities, such as entertainments, sports event, etc.

Giving and receiving of valuable items such as presents or souvenirs, services, facilitating or entertainment of associates must follow the traditions in each local or country including relevant laws. At the same time, it should be of reasonable value and does not influence the Employees into wrongdoing.


Guidelines

  1. Before giving or accepting a present and hospitality to/from associates, the Employees should make sure that the price is appropriate to the occasion and complies with laws, regulations, announcements or custom in each locality.
  2. Avoid giving or accepting valuable item, service or hospitality that can cause influence to impair the objectivity and wrongfully act.
  3. Keeping records of expenses as evidence of the value of the items service or reception, so that they can be examined later.
  4. In the case that Employees have been assigned or permitted by their superior to an outside agency, they may receive money, items, or presents according to the guidelines or standards set by the outside.
  5. Be cautious when giving items, services and hospitality to the superior or internal people/units, and the case of receiving items, services and hospitality from the subordinate or internal people/units. Such activity must not create motivation leading to unfair decision making.