All departments of SiRUBA will regularly engage with stakeholders through established communication channels. If potential significant negative impacts between stakeholders and the company are identified, the responsible department will conduct due diligence on the stakeholder’s financial situation and present the findings to the chairperson. The chairperson will assess whether reporting to the board of directors is necessary based on whether the specific outcomes have caused substantial harm to the company’s overall operations. Subsequently, the board of directors will review the due diligence report submitted by the department and oversee its Implementation. For the year 2023, there have been no potential negative major adverse events between SiRUBA and relevant parties, thus no instances requiring reporting to the board of directors have occurred. SiRUBA acknowledges that the current company practice of solely conducting financial due diligence on stakeholders is insufficient. In the future, the scope of due diligence will encompass stakeholders’ compliance records, environmental protection, labor rights, and other areas, ensuring a more comprehensive assessment of stakeholders and enabling the board to effectively address potentially negative material impacts.
Policy
SiRUBA ‘s organizational culture is based on legal compliance and upholds integrity as its core value. The company conducts its business with a spirit of honesty and legal adherence. To ensure that the principle of honest management is effectively implemented within the company, SiRUBA places great importance on the character of its employees. The company has established the “Ethical Corporate Management Best Practice Principles.” The company’s Sustainability Development Committee, as the dedicated unit for promoting corporate integrity, reports to the board of directors on the implementation of integrity management at least once a year.
Additionally, SiRUBA has set forth a “Code of Ethical Conduct,” emphasizing core corporate values such as integrity, innovation, discipline, positivity, and customer trust. With the mission of fostering global connections through innovation and care, the company introduces these values to new employees during their on boarding process, facilitated by the Human Resources Department, to cultivate a strong sense of integrity among colleagues. Management is also expected to lead by example, strictly adhering to principles of integrity, subtly shaping the company’s overall integrity culture.
The company has established “Procedures for Handling Internal Information and Prevention of Insider Trading”, prohibiting directors, employees, and other insiders from trading securities based on undisclosed market information. Directors are not allowed to trade stocks during the blackout period, which is the 30 days prior to the annual financial report announcement and the 15 days prior to each quarterly financial report announcement.
SiRUBA has established complaint and reporting channels, internally and externally, alongside reward and punishment systems. Continuously monitoring developments in domestic and international integrity management regulations, the company encourages directors, managers and employees to offer suggestions for review and improvement. By implementing integrity management policies and promotional initiatives, the company aims to enhance the effectiveness of its corporate integrity management.
The Reporting Mechanism can be found on the website: Reporting Mechanism.
Implement of Integrity Management
In 2023, SiRUBA did not receive any reported cases. Additionally, through the Corporate Governance Group within the ESG Committee at SiRUBA is responsible for designing and reviewing complaint channels and overseeing case handling. Going forward, this aspect will be evaluated and discussed during stakeholder communication meeting with customers aiming to enhance our complaint handling procedures.
