Stakeholders’ Rights
The Company recognizes the importance of rights of all stakeholders, including parties both within the Company and outside, which include shareholders, employees, customers, trade partners and/creditors, competitors and the general public. For transparency and fairness to all stakeholders, the Company has set forth policies for the Board of Directors, management and employees to follow in the Code of Ethics and Employee Manual. The Code of Ethics, approved by the Board of Directors at 3 February 2005, has been communicated to every director, manager, and employee so they can understand and comply with. The summary of the code of conduct is as follows:
- To Shareholders
The Company is committed to operating with knowledge, ability, loyalty, honesty, transparency and fairness, for the Company’s growth and stability, and for shareholders to receive lasting returns from effective and efficient operations. Shareholders are to receive accurate, factual reports with reasonable supporting documents on the status and performance of the Company in a consistent and timely manner. - To Customers
The Company focuses on conducting business that is correct, fair, and responsive to customers’ needs by providing good products and/or services at reasonable prices through quality employees, using innovative modern technology, while protecting customers’ confidentiality. The Company also provides the opportunity for customers to complain and find corrective measures and/or respond to the customers’ needs as appropriate. - To Trade Partners and/or Creditors
The Company strictly abides by the conditions and contracts agreed to with trade partners and/or creditors, and does not request or accept goods or other benefits that are not a part of honest business transactions. If the Company cannot abide by such conditions, or if there is evidence of fraud, the Company will inform or release such information to the trade partners and/or creditors to together correct the problem and to prevent any damage. - To Competitors
The Company treats competitors with good business manners and does not seek their confidential information through inappropriate or unlawful approaches. The Company will not intentionally destroy any competitors’ reputation through groundless allegations. - To Employees
The Company encourages continuous knowledge development to enhance employees’ ability at all levels, and provide them with appropriate, fair compensation and welfare in accordance with labor and welfare laws. The Company respects the employees’ personal rights and responsibilities and ensures a good working environment for the health and safety of employees’ lives and properties. In addition, the Company encourages employees to conduct themselves with good values and to work together harmoniously within the organization. The Company also promotes employee participation in determining the outcome of their work and in solving the Company’s problems. - To Society
The Company creates and supports activities beneficial to the community and society at large, and consciously fosters the concept of social responsibility to the community and the general public in all employees. The Company does not enter into nor support actions which are illegal or damaging to the reputation of the country, natural resources and the environment, and may be dangerous to the society and the stability of the country.
The Company has also provided a channel for receiving requests, opinions and suggestions, as well as reports about actions that indicate employee related fraud or misdemeanors. Reports can be filed by employees, those who have interests and direct dealings with the Company to the Audit Committee via the website (www.gmmgrammy.com) so the information can be used to develop, correct and improve the issue more effectively. To protect the confidentiality of the party filing the report, the parties with knowledge of the report will be limited to related parties and those assigned to pursue the issue.
