Business Principles

Code of Business Principles
Univanich enjoys a reputation for conducting its business with integrity and with respect for the interests of those people and environments our activities can affect. This reputation is an asset, just as real as our people, factories, and brand.

Our first priority is to be a profitable business and that means investing for growth and balancing short term and long term business interests. It also means caring about our customers, employees, shareholders, suppliers, and the communities and environments in which we conduct our operations.

In the course of meeting our business objectives, we consider it essential that all employees understand and comply with our values and therefore share the Univanich way of doing things.

It is very easy in the realm of business ethics to make high sounding statements of little practical value. The general principles contained in this Code are the bedrock; more detailed guidance tailored to the needs of different countries and companies will be further developed.

This Code of Business Principles is a core Univanich statement and we commend it to you.


Standard of Conduct
Univanich will conduct its business with honesty and integrity and with respect for the interests of those with whom it has relationships.

Obeying the Law
Univanich will comply with the laws and regulations of the countries in which we operate.

Employees
Univanich will recruit, employ, and promote employees on the sole basis of the qualifications and abilities needed for the work to be performed. Univanich is committed to providing safe and healthy working conditions for all its employees. Univanich believes it is essential to maintain good communications with employees, through transparent information and consultation procedures.

Conflicts of Interest
Univanich expects its employees to avoid personal activities and financial interests which could conflict with their commitments to their jobs.

Public Activities
Univanich neither supports political parties nor contributes to the funds of groups whose activities are calculated to promote party interests.

Univanich companies are encouraged to promote and defend their legitimate business interests. In so doing they may either directly, or through bodies such as trade associations, raise questions, and discuss particular government actions or decisions.

Univanich will respond to requests from governments and other agencies for information, observations, or opinions on issues relevant to business and the community in which operate.

Product Assurance
Univanich is committed to providing products that consistently offer value in terms of price and quality. Where possible this will be supported by ISO certification.

Environmental Issues
Univanich is committed to running its business in an environmentally sound and sustainable manner. Our aim is to ensure that our processes and products have the minimum adverse environmental impact commensurate with the legitimate needs of the business. Where possible this will be supported by an appropriate certification of environmental sustainability.

Competition
Univanich believes in vigorous yet fair competition and supports the development of appropriate competition laws. Employees receive guidance to ensure that they understand such laws and do not transgress them.

Reliability of Financial Reporting
Univanich accounting records and supporting documents must accurately describe and reflect the nature of the underlying transactions. No undisclosed or unrecorded account, fund, or asset will be established or maintained.

Bribery
Univanich does not give or receive bribes in order to retain or bestow business or financial advantages. Univanich employees are directed that any demand for or offer of such bribe must be immediately rejected.

Application
This Code applies to Univanich’s activities throughout the world. Where Univanich companies participate in joint ventures the application of these principles will be actively promoted.

Compliance
It is the responsibility of Univanich managers to ensure that the principles embodied in this Code are communicated to, understood, and observed by all employees. Independent Internal Auditors will support the Board in monitoring compliance with the Code.

The Board of Univanich will not criticize management for any loss of business resulting from adherence to these principles. Equally, the Board of Univanich undertakes that no employee will suffer as a consequence of bringing to their attention or that of senior management, a breach or suspected breach of these principles.

In this Code, the expressions “Univanich” and “Univanich companies” are used for convenience and mean the Univanich

Group of companies comprising Univanich Palm Oil Public Company Limited and its subsidiary companies. The Board of Univanich means the Directors of Univanich Palm Oil PCL.