We are committed to honest and ethical business conduct and we do not tolerate fraud or dishonest conduct of any kind. Our core values therefore are the key principles that guide our conduct and our relationships. They define how we conduct our business and deal with our fellow employees, our customers, business partners and other stakeholders, wherever we are located, while striving for excellence in operational and financial performance.
Meeting legal and regulatory requirements is a basic expectation across our global operations. Beyond full compliance to legal and regulatory requirements, we align our management systems to international standards such as ISO, OHSAS and GRI. Accordingly, our processes adopt a precautionary approach.
To maintain an ethical environment that encourages and promotes professional and ethical conduct of the management and staff members, a Code of Business Conduct and Ethics has been promulgated. We believe that for a policy to be effective, it should be understood. The Code is therefore written in clear and simple language.
The Code reflects our expectations of responsible behaviour towards our material sustainability issues. It sets out the guiding principles and desired behaviour with which our people are expected to operate, and embraces the business practices and standards of behaviour that support our commitment to honest and ethical business conduct. Many standards set out in the Code have also been embedded in various policies and procedures.
Violations of the Code, as well as violation of laws or regulations, or any other wrongdoings may be reported through the whistle-blowing channel. The whistle blowing channel is published in the employee intranet portal. Employees can report to the channel on an anonymous basis. Subject to applicable laws, the identity of the employees who raise any such reports is kept in strict confidence and they are protected from any disciplinary or retaliatory action arising by reason of their having made these reports. All fraud and suspected fraud cases received through the whistle-blowing channel are notified to the Audit Committee Chairman. The Audit Committee has the powers to inquire into the concerns raised.
Our customers must be able to rely on our products and services to perform their intended functions satisfactorily. As a defence and engineering group, this means our products must be safe to produce, safe to operate and safe to maintain. Accordingly, product quality encompasses all faculties of engineering, including system safety and product reliability.
The culture of continuous improvement and engagement with our customers underpins our approach to quality and safety. We manage the safety implications of our products throughout the entire product life cycle, where safety is assessed and managed from the start at the design stage. We implement 3rd party certified quality management systems in all our Singapore operations, that allow us to meet the stringent requirements of authorities and customers.