We believe strong corporate governance is fundamental to maintaining a successful business. We have been taking steps to implement the highest standards of corporate governance in our business practices. As a leading company in Myanmar, we strive to set a high benchmark for good corporate citizenship and positively influence the business community in Myanmar.
We are dedicated to conducting our businesses consistent with the highest standards of business ethics and in accordance with applicable laws, rule and regulations in Myanmar at all times. We are committed to adhering to the ISO 26000 principles on Accountability, Transparency, Ethical Behaviour, Respect for Stakeholder Interests, Respect for the Rule of Law, Respect for the International Norms of Behaviour and Respect for Human Rights.
We adopt a “zero-tolerance” approach on all forms of corruption, bribery and extortion. Employees at all levels including senior management and board members are expected to follow this strict “zero tolerance” policy. The policy is clearly stated in our Employee Handbook given to all employees, and reiterated at orientation training for new employees. The sanctions to any breach of this zero tolerance policy are described in the Employee Handbook, and can lead to termination of contract. In addition, employees are encouraged to report any behavior that seems corrupt within the business and whistleblowers may remain anonymous.
We acknowledge that transparency in business practices is a critical element for sustainable development. We endeavour to provide a transparent, relevant and fair report on our activities. We dedicate time and manpower to provide accurate assessments of our procedures and actions. We communicate on both the progress of our projects and on our CSR activities.
We actively communicate our culture and vision to our stakeholders such as contractors and tenants and expect them to share the same desire for responsible and sustainability-oriented business practices.
We believe it is very important that our relations with stakeholders are based on mutual trust.
An example of our effort in positively influencing stakeholders is ensuring that our sub-contractors working on our two major real estate projects, Junction City and Crystal Tower and Residence, uphold the same principles on anti-corruption as we do. They signed an addendum to their contracts with ShweTaung committing them to anti-corruption and anti-bribery practices.
In November 2015, we embarked on our digital transformation journey by investing in Microsoft solutions for higher efficiency, productivity and security. The investment in our technology infrastructure reinforces our continued commitment to adopting international business practices and respecting intellectual property rights.
We engage both national and international institutions working to continue the development of responsible business standards at a global and local level. We maintain an open dialogue with such institutions in order to provide feedback on market standards and corporate responsibility in the context of sustainability.