The business conduct principles and rules set
out in this policy are provided as the governing
standards to ensure that we promote the Supreme
Maritime Surveyors (P) Limited, (hereinafter
the "Company") vision and meet our
targets in an ethical, honest and legal manner.
Behavior :
The company conducts its business with honesty
and integrity. The Company competes fairly and
ethically within the framework of applicable
competition laws.
Laws and Regulations: The Company complies with
the applicable laws, rules and regulations of
the countries in which the Company operates
or under which the Company has any contractual
association.
Confidentiality
of Company Information :
All Personnel must not, directly or
indirectly, use, disclose, reproduce or make
available in any form any confidential Company
information. This applies to internal Company
matters, as well as industry information other
than that which is generally available to the
public and extends beyond the termination of
employment / contractual relationship.
Conflict of Interest
:
All Personnel must pay particular attention
to conflict of interest issues. If an employee
is faced with a situation in which his or her
personal financial, political or other interests
or those of individuals or entities close to
them may conflict with that of the Company,
they must report it immediately to their Management.
In this respect, no Personnel shall acquire
an interest or accept a position as consultant
or part-time employee with a competitor, a supplier
or a customer without prior written agreement
of his or her Management.
Insider Trading
:
Each individual working for or with the Company
who has access through his or her position in
the Company to privileged non-public information,
which could influence the price of the shares
of the Company, or companies with which the
Company has a business relationship, shall not
engage in divulging such information nor trade
in those shares, or any other financial instruments,
including exercising share options.
Proper Accounting and Record Keeping : All transactions
on behalf of the Company's entities must be
appropriately described in the records of the
Company and accounted for in accordance with
the Management System and may be subject to
audit. No secret or unrecorded fund of money
or other assets is to be established or maintained.
Ethical Conduct,
Disclosure and Compliance :
The Company promotes honest and ethical conduct
and adopts relevant policies that mandate full,
fair, accurate, timely and understandable disclosure
in the reports and documents filed with the
Securities and Exchange Commission of Pakistan
and in other public communications by the Company,
as well as strict compliance with applicable
governmental laws, rules and regulations.
Internal Control
System :
Management is committed to establish, maintain,
and regularly evaluate the effectiveness of
a business-wide internal control system including,
but not limited to, detailed procedures for
surveying and valuations, inventory controls,
accounting, financial reporting and disclosure.
Appropriate guidelines for the internal control
structure and the disclosure controls and procedures
are defined within the relevant policies and
work instructions.
Relationships
with Government Officials, Customers, Suppliers
and Partners :
These relationships should be conducted ethically
and in compliance with local and international
statutory requirements and standards applicable
to local subsidiaries as well as to the Company's
parent company. Gifts within the context of
business relationships or activities should
not be given, directly or indirectly, or accepted,
directly or indirectly, if they could be considered
extravagant. Similarly, entertainment should
not be extended or received if it could be seen
as extravagant or unduly frequent.
Joint Ventures
:
When participating in joint ventures, the Company
promotes the application of the above principles
and rules in the management of the joint venture
operation.
Applicability
& Enforcement :
The Company's policy on business conduct is
applicable to all directors, permanent and temporary
members of staff, including the Chief Executive
Officer, (the principal accounting officer),
contractors and consultants (hereinafter the
"Personnel") and should be complied
with at all times. In line with the principles
of this policy, all Personnel are expected to
carry out their duties and maintain their internal
and external relationships in a professional
manner with utmost integrity while avoiding
any conflict of interest. The Company will not
tolerate any breach of this policy. Individuals
found to be in breach of the rules of conduct
will be subject to disciplinary action up to
and including termination of Service.