The Group firmly believes that good corporate governance is essential to the long term sustainability of the Company’s businesses and performance. PEC is committed to maintaining a high standard of corporate conduct and operates in the spirit of the Singapore Code of Corporate Governance 2005 (the “Code”).

The Group continues to place importance on its corporate governance processes and systems so as to ensure greater transparency, accountability and protection of shareholders’ interests.

Whistle Blowing Policy

In line with good corporate governance practice of the Group and its commitment to open communication, the Company has implemented a Whistle-Blowing Policy with effect from 3 September 2009.

This objective of the policy is to provide an avenue for employees to raise concerns and reassurance that they will be protected from reprisals for whistle blowing in good faith.

The Whistle-Blowing Policy is intended to cover serious concerns that could have a significant impact on the Group, such as :

  • Group’s accounting, internal controls or auditing matters;
  • Impropriety, corruption, acts of fraud, theft and/misuse of the Group’s properties, assets or resources;
  • Conduct which is an offence or breach of law;
  • Serious conflict of interest without disclosure;
  • Breach of the Group’s policies or code of conduct;
  • Concealing information about any of the above malpractice or misconduct:
  • Financial or non-financial loss to the Group, or damage to the Group’s reputation;
  • Fraud or the making of fraudulent statements; and
  • Mislead, deceive, manipulate, coerce or fraudulently influence any internal or external accountant or auditor in connection with the preparation, examination, audit or review of any financial statements or records of the Group.

Channel & Reporting Structure for whistle blowing

Serious concerns relating to financial reporting, unethical or illegal conduct should be reported in the following way :

  • Reports should be made in writing with the following information using the prescribed form provided below:
    • Your contact details
    • Department and/or location of the suspected irregularity
    • Suspect(s) involved
    • Nature of the suspected irregularity
    • Date in which the suspected irregularity has occurred

    Annex 3 : Whistle Blowing Report Form

  • Reports should be sent via email and addressed to the Audit Committee