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Swissco is committed to a high standard of corporate governance to ensure effective self–regulation practices are in place to enhance corporate performance and accountability.

The Corporate Governance Report, outlined in the Group’s 2014 Annual Report, sets out the corporate governance practices of the Group during the financial year ended 31 December 2014 with specific reference to the principles of the Code of Corporate Governance 2012 (the “Code”). The Code forms part of the continuing obligation of the Singapore Exchange Securities Trading Limited (“SGX–ST”)’s Listing Manual.

Whistle Blowing

The Policy

The Board and Management of Swissco Holdings Limited and its subsidiaries (“Swissco”) are committed to maintaining the highest standards of honesty, openness and accountability and recognise that you have an important role to play in achieving this goal.

The Audit Committee oversees this policy with designated management personnel to administer its procedures. It aims to encourage and enable employee and external parties to bring forward in confidence any concerns about possible improprieties and to report, any conflict of interest or wrongdoings such as fraud, corruption and malpractices, whether committed by senior managers, staff, suppliers or contractors, within our organization or any activity and matters that are, or appear to be, opposed to the best interest of the Company.

Scope of this Policy

This Policy governs the reporting and investigation of improper or illegal activities at Swissco, as well as the protection offered to the “Whistleblowers”. This Policy applies to all employees of Swissco and all external parties who have a business relationship with Swissco. External parties include customers, suppliers, contractors and general public.

Good Faith

Please rest assured that if you do raise a concern under the Policy, you will not be at risk of losing your job or suffer any form of retribution as a result, provided that the disclosure is made in good faith and you reasonably believe that information and any allegations contained in it are substantially true. Swissco does not expect you to have absolute proof of any misconduct or malpractice that you report. However, you will need to be able to show the reasons for your concern.

An employee who knowingly or recklessly makes statements or disclosures that are not in good faith may be subject to disciplinary procedures, which may include termination.

Making a report

You may raise your concern to your immediate supervisor and if the concern involves your immediate supervisor, manager or Head of Department, or for any reason you would prefer them not to be told, you may report to the designated officer as follows:

If, under the circumstances, you do not feel comfortable about making a report directly to management, then you can report instead to any of the following Audit Committee Members by email at the following addresses: -

The Company will do everything possible to keep your identity secret, if you so wish. However, there may be circumstances (for example, if your report becomes the subject of a criminal investigation) wherein you may be needed as a witness. Should this be the case we will discuss the matter with you at the earliest opportunity.

Concerns and Information provided anonymously

Concerns expressed anonymously are much less persuasive and may hinder investigation work as it is more difficult to look into the matter or protect your position. Accordingly, the Company will consider anonymous reports, but concerns and information provided anonymously will be investigated on the basis of their merits.

Investigation by Whistle-blowing Committee

Once you have made a report, the whistle-blowing committee will acknowledge receipt of it within [2] working days. The report together will be submitted to all the Audit Committee members and the whistle-blowing committee shall update the Audit Committee Members on the actions taken. The whistle-blowing committee will need to make preliminary enquiries to decide whether a full investigation is necessary. If such an investigation is necessary then, depending on the nature of the misconduct, your concerns will be either:

  • Investigated internally (by management or any senior management staff appointed by the Audit Committee); or
  • Referred to the appropriate external person (for example our external auditors or the police) for investigation.

Subject to any legal constraints, the committee will inform you of the outcome of the preliminary enquiries, full investigation and any further action that has been taken.