FINANCIAL INFORMATION

At OCR Group, we understand how important it is to keep our shareholders empowered with the transparency of knowledge about our organisation. Therefore, we take proactive measures in delivering information about OCR Group’s strategies, performance, key business activities while maintaining fairness timeliness as well as creating value for each of our stakeholders.

At OCR Group, we are committed to our shareholders and we understand the importance of keeping our shareholders informed with the latest development of the company.

ANNUAL AUDITED ACCOUNT
YEAR FILE
20/11/ 2017 Annual Report 2017
30/12/2016  Annual Report 2016
30/11/2015  Annual Report 2015
03/12/2014  Annual Report 2014
27/11/2013  Annual Report 2013
27/11/2012  Annual Report 2012
29/11/2011  Annual Report 2011
02/12/2010  Annual Report 2010
26/11/2009  Annual Report 2009
28/11/2008  Annual Report 2008
07/12/2007  Annual Report 2007

BOARD CHARTER

THIS CHARTER HAS BEEN ADOPTED BY THE BOARD TO:

  • Provide a guidance and guidelines on the manner in which its constitutional powers and responsibilities will be exercised and discharged; and
  • Outline the core principles of corporate governance to which the Company adopts and to which each Director or the Directors collectively, as the case may be, should strive for.

 

A. BOARD RESPONSIBILITIES

The Board of Directors (“Board”) is responsible for the proper stewardship of the Company and its subsidiaries (collectively “Group”). The Board is to aim for the maximization of shareholders’ value and safeguarding stakeholders’ interests including securing sustainable long-term financial results and increasing shareholders’ value, without compromising on social and environmental considerations. Hence, the Board should collectively have sound and sufficient knowledge and expertise to enable effective governance and oversight.

The Board has the following major responsibilities, which facilitate the discharge of the Board’s stewardship in the pursuit of the best interests of the Company:

  • Maintain good corporate governance standards;
  • Formulating a strategic plan for the Company and tailoring the same from time to time by taking practical and realistic approaches;
  • Overseeing the conduct of the Company’s business to evaluate whether the business is being properly managed and sustained;
  • Identifying principal risks and ensuring the implementation of appropriate systems to manage these risks;
  • Reviewing the adequacy and integrity of the Company’s internal control systems for compliance with applicable laws, regulations, rules and guidelines.

 

B. BOARD COMPOSITION

It is intended that the composition of the Board be determined using the following principles:

  • The Board as a collective unit is responsible to determine the appropriate size of the Board;
  • At least two (2) directors or one third of the Board, whichever is higher, shall be independent directors. The tenure of an independent director should not exceed a cumulative term of nine (9) years. Upon completion of the 9 years, an independent director may continue to serve on the Board subject to the director’s re-designation to non-independent director. Otherwise, the Board must justify and seek shareholders’ approval at Annual General Meeting in the event it retains the director as an independent director.
    If the Board continues to retain the independent director after twelfth (12) year, the Board shall seek annual shareholders’ approval through a two-tier voting process;
  • The Chairman of the Board shall be a non-executive member of the Board and where the Chairman of the Board is not an independent director, the Board shall comprise a majority of independent directors.
  • Where possible, the position of Chairman and Chief Executive Officer of the Company shall be held by different individuals.
  • On boardroom diversity, the Board is supportive of the gender boardroom diversity as recommended by Malaysian Code of Corporate Governance 2012. The Board shall endeavor to have at least one (1) female Director at all times to possibly provide alternative views where applicable;
  • The Board shall comprise of directors with an appropriate range and mix of skills, experience, expertise and diversity that will enable the Board to effectively function. It is suggested that the Board shall where possible, at all times endeavor to have at least a member with financial background and experience and another with corporate legal background and experience.

As part of its Board induction programme, new board members shall be given a copy of the Charter and be briefed on the terms of their appointment, their duties and obligations and on the operations of the Group. The Board will ensure its members have access to appropriate continuing education programmes.

Board Members may hold shares in the Company. When buying or selling shares in the Company, Board Members must strictly observe the provisions of the Articles of Association and all relevant legislative and regulatory requirements.

 

C. BOARD STRUCTURES AND PROCEDURES

The Board may delegate specified matters to individual members or committees of the Board to oversee critical or major functional areas and to address matters which required detailed review or in-depth consideration.

There shall be established the following committees:

  • Audit Committee;
  • Nominating Committee;
  • Remuneration Committee; and
  • Any other Committee where required.

 

D. KEY RESPONSIBILITIES

In particular, the following are responsibilities and functions of the Board:

  • Appointment, terms of appointment, delegation of authority to, review of performance of and removal of the Executive officers;
  • Succession planning for the Board, Chief Executive Officer and his/her direct reports and seeking to ensure effective execution of the succession planning;
  • The appointment, review of performance, and where appropriate, the removal of, the Company Secretary and any other corporate service providers; and
  • Ratification of the terms of appointment of senior management- ie the Chief Executive Officer’s direct reports;
  • Formulation, review and ratification of the organization chart for senior management;
  • Ratification of evaluation and reward of senior management (including ratification of remuneration and incentive policies);
  • Requiring that there is continuing education and information provided to directors regarding:
    1. The Company’s various businesses; and
    2. The role of the Board and its functions and obligations.
  • Approval of budgets and the strategic plan to promote sustainability;
  • Evaluating the performance of the Company against strategies and business plan and the evolving environment it operates in;
  • Approval of the capital and operating expenditure budget and any alterations to it;
  • Approval and review from time to time the utilization of proceeds pursuant to any capital raising exercise;
  • Approval of significant mergers, acquisitions and divestitures of the Group;
  • Approval of expenditure and/or commitments that are in excess of budget or the Chief Executive Officer’s delegation;
  • Approval of interim and annual financial statements;
  • Approval for the release of financial announcements and any other significant announcements;
  • Approval of the Annual Directors’ report and Statutory Accounts;
  • Approval of interim dividends, the recommendation of final dividends and the making of any other distribution;
  • Adoption of accounting policies;
  • Reviewing the effectiveness of the Group’s system of internal control and establishment of a sound framework to mitigate risks. The function is delegated to the Audit Committee which will in turn report to the Board on its findings;
  • The granting of powers of attorney by the Company;
  • The entering into of any indemnities or guarantees;
  • Recommendations for the alteration of the Memorandum and Articles of Association of the Company;
  • Alteration of the accounting reference date, registered office and name of the Company;
  • Purchase of own shares by the Company;
  • Issue of any debt instruments;
  • Scheme of reconstruction or restructuring;
  • Any other significant business decision;
  • Any other matters requiring the convening of a general meeting of shareholders or any class of shareholders;
  • Any other matters as may be required by the laws or the governing authorities.

 

E. REVIEW OF BOARD PERFORMANCE

The Chairman keeps under review, informally, the contributions made by Board Members. The Nomination and Remuneration Committee (“NRC”) is given the task to review annually the activities and effectiveness of the Board and the Board Members. The Chairman of the NRC oversees the overall evaluation process.

 

F. RELATIONSHIP BETWEEN THE BOARD AND SHAREHOLDERS, INSTITUTIONAL INVESTORS, STAKEHOLDERS, PRESS, CUSTOMERS, ETC

The Board will use its best endeavours to familiarize itself with issues of concern to shareholders.

The Board believes that Management speaks for the Group, Nevertheless, individual board members may, from time to time at the request of the Management, meet or otherwise communicate with various constituencies that are involved with the Group. Comments from the Board, if appropriate in most circumstances, shall come from the Chairman/CEO.

The Company shall aim to ensure that shareholders are well informed of all major developments affecting the state of affairs of the Company. To achieve this, the Company has implemented the following procedures:

  • Shareholders can gain access to information about the Group, including media releases, communication with shareholders and key policies through the Company’s at website http://www.ocrberhad.com.
  • The Company encourages full participation of shareholders at General Meetings to ensure a forum is available for the discussion of the Group’s strategies and goals.

 

G. INTEGRITY, STANDARDS & CODE OF CONDUCT

As a matter of Board policy, directors and management are expected to conduct themselves with the highest integrity standards and to comply with the Company’s Memorandum and Articles of Association and this Board Charter shall at times be subject to the Company’s Memorandum and Articles of Association as may be amended from time to time. All directors, executives and staff are expected to be professional at all times and thereby protect and promote the reputation of the Company.

All of the Company’s directors, executives and staff are expected to:

  • Act honestly and fairly in all their business dealings and not to allow themselves to be placed in a position of conflict of interest;
  • Comply with the law and regulations set by relevant authorities;
  • Be diligent and professional in the execution of their duties; and
  • Work together to promote a safe, ethical and professional workplace.

 

 

OCR Group Berhad (“the Company”) – Whistle-Blowing Policy

Introduction

All stakeholders (Including but not limited to, employees, customers, suppliers, government bodies and financial institutions) are encouraged to raise genuine concerns about possible improprieties in matters of financial reporting, compliance and other malpractices at the earliest opportunity, and in an appropriate way.

This Policy is designed to:

a) Support the company’s values and code of conduct;
b) Ensure stakeholders can raise concerns without fear of reprisals and safeguard such person’s confidentiality;
c) Protect a whistle-blower from reprisal as consequence of making a disclosure;
d) Provide a transparent and confidential process for dealing with concerns. This policy not only covers possible improprieties in matters of financial reporting, but also:

  • Fraud;
  • Corruption, bribery or blackmail;
  • Criminal offences;
  • Failure to comply with a legal or regulatory obligation;
  • Miscarriage of justice;
  • Endangerment of an individual’s health and safety; and
  • Concealment of any, or a combination, of the above.

Principles

The principles underpinning the Policy are as follows:

a) internal procedures to facilitate necessary whistle-blowing, in a timely and responsible manner, are in place and made known to all employees of the company;
b) all disclosures will be treated fairly and properly, and addressed in an appropriate and timely manner;
c) the Company will not tolerate harassment or victimisation of anyone raising a genuine concern;
d) the identity and personal information of the whistle-blower will be protected and kept confidential, unless the individual agrees otherwise or unless otherwise required by law;
e) the whistle-blower and the alleged wrongdoer will be treated fairly. The wrongdoer will be informed of the status of his disclosure and the alleged wrongdoer will be given an opportunity to respond to all allegations at an appropriate time (not necessarily at the start, or during, the investigation);
f) personal information, including the identity, of the whistle-blower and the alleged wrongdoer shall only be revealed on a ‘need-to-know’ basis; and
g) the company will ensure no one will be at risk of suffering some form of reprisal as a result of raising a concern even if the individual is mistaken. The company, however, does not extend this assurance to someone who maliciously raises a matter he knows is untrue.

Covered Concerns

A disclosure relating to, but not limited to, either of the following concerns or wrongdoings by any person in the conduct of the business shall be reported:

a) corruption, bribery and fraud (including financial statement fraud);
b) criminal offence or any breach of the laws of Malaysia;
c) acceptance of gifts/ favour beyond the threshold allowed by the company;
d) misuse and/or misappropriation of the company’s funds or assets;
e) impropriety (including financial and operational, etc.) within the company;
f) gross mismanagement within the company (including serious potential breach to the interest of society and environment);
g) breach of code of conduct of the company, including sexual, physical or other abuse of human rights; and
h) act or omission jeopardising the health and safety of the company’s employees or the public.

Reporting Procedure

If any stakeholder believes reasonably and in good faith that malpractices exist in the Company, the stakeholder should report this immediately to the head-of-department.

However, if for any reason the stakeholder is reluctant to do so, then the stakeholder should report the concerns to the Audit Committee Chairman.

Employees concerned about speaking to another member of staff can communicate, in confidence, to the Audit Committee Chairman by email his/her concern to the Audit Committee Chairman. Any anonymous disclosure will not be entertained. However, the Audit Committee Chairman reserves his/her right to investigate into any anonymous disclosure.

These concerns will be managed by the Audit Committee Chairman and he/she shall have the right to decide whether to inform the Management or the Board of Directors or relevant enforcement authority(ies)(if the Audit Committee Chairman concluded that such incidents to be reported, based on the facts gathered), depending on the seriousness of the reported incident(s) and on need-to-know basis, without revealing the identity of the whistle-blower. The Audit Committee Chairman, at the cost to be borne by the Company, shall have the right and authority(ies) to decide on the next course of actions with the advice of the external professionals or experts, if required.

Whistle-blowers’ identity will not be disclosed without prior consent. Where concerns cannot be resolved without revealing the identity of the whistle-blower raising the concern (i.e. if the evidence is required in court), a dialogue will be carried out with the whistle-blower concerned as to whether and how the matter can progress further.

Consequences of Wrongdoing or Wrongful Disclosure

If the Person (i.e. the whistle-blower) has, or is found to have:

  • committed a wrongdoing;
  • taken serious risks which would likely cause a wrongdoing to be committed;
  • made a disclosure not in accordance with the requirements of this policy (for instance, dishonest, mischievous or malicious complaints); or
  • participated or assisted in any process pursuant to this policy otherwise than in good faith,

The corrective actions to be taken against that Person will be determined by the Audit Committee Chairman and the Managing Director or the Senior Management (if they are not the whistle blower nor the subject of the whistle-blowing), which may include, disciplinary measures, formal warning or reprimand, demotion, suspension or termination of employment or services or monetary or other forms of punishment.

Any attempt to retaliate, victimize or intimidate against anyone (whistle-blower) making report in good faith is a serious violation of the Policy and shall be dealt with serious disciplinary actions and procedures.

Protection

The identity and personal information of the whistle-blower will be protected and kept confidential, unless the whistle-blower agrees otherwise or unless otherwise required by law.

The whistle-blower will be protected from reprisal, including any form of harassment and victimisation, as a consequence of his disclosure.

If a whistle-blower reasonably believes that he is being subjected to reprisal, including harassment and victimisation, as a consequence of whistle-blowing, he may consult or report to the Audit Committee Chairman.

Administration

This Policy is administered by the Audit Committee with the assistance of the Management and overseen by the Board of Directors.

Contact persons:

Mr. Yap Sing Khon
Audit Committee Chairman

OCR Group (formerly known as O&C Resources Berhad) is a pioneer manufacturer and exporter of condoms and baby care accessories in Malaysia.

Copyright © 2017, OCR Group Berhad (440503-K). All Right Reserved.

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6B Persiaran Tropicana,
Tropicana Golf and Country Resort,
47410 Petaling Jaya, Selangor