PBSN is adopting “NO GIFT POLICY” to reinforce its commitment in conducting business to the highest standard of integrity, ethics, good corporate governance and free of bribery / corrupted practices.

(1)  This Policy STRICTLY prohibits the exchange of gifts and hospitality directly or indirectly both within and outside of the work premise in course of their official duties and business dealings which may influence in a decision-making process or put the Directors, Member of Panel of Investment Advisers and Employees in a position of conflict or appearance of such conflict or obligation.

(2)  Directors, Member of Panel of Investment Advisers and Employees are not allowed to accept gifts and hospitality in exchange of doing or promising to do anything relating to the business or affairs of PBSN for potential or existing Clients and / or Third Parties.

(3)  Directors, Member of Panel of Investment Advisers, Employees and external parties are to avoid conflict of interest or the appearance of conflict of interest for either party in an on-going potential business dealing between PBSN and external parties as a gift and hospitality can be seen as a bribe that may tarnish PBSN’s reputation or in violation of anti-bribery and corruption laws.

(4) NO political donations and/or contributions to any political parties and / or any political causes are allowed in PBSN.

Exceptions to the “NO GIFT POLICY”

The following gifts and hospitality are permissible, subject to a Director, a Member of Panel of Investment Advisers and an Employee observing the value threshold limit, the Mandatory Requirements (as stipulated in Chapter 4 Mandatory Requirements of the Gifts and Hospitality Policy & Guidelines).

i.   Gifts & hospitality with indicative value of less than RM100 and equivalent in others currency;

ii.   Souvenir items and corporate merchandises with the external party’s company logo and / or PBSN’s logo such as diaries, pens, note books, calendars, mugs, umbrellas and T-shirts etc;

iii.  The souvenir items and corporate merchandises are given at public or invitational events;         

iv.  Gifts or financial support or contributions to charitable organizations or individuals on a charity basis under PBSN’s corporate social responsibility;

v.   Invitation to public event(s) such as sport events e.g golf tournament, badminton tournament, bowling etc organized by Third Parties to industry players;

vi.  Gifts given and received during festivals not on a personal basis, must be shared and distributed to all employees; and

vii. Perishable items (e.g cakes, flowers, fruits) are allowed to be retained in office.