Latest news with #ABMS
New Straits Times
6 days ago
- Business
- New Straits Times
SunCon clears the air on MACC probe at investor briefing, maintains strong outlook
KUALA LUMPUR: Sunway Construction Group Bhd (SunCon) has dismissed concerns over its long-term prospects following the recent remand of one of its employees by the Malaysian Anti-Corruption Commission (MACC) over subcontractor-related dealings. In an investor briefing led by group managing director Liew Kok Wing, SunCon affirmed that the incident poses no threat to its long-term prospects or operational integrity, stressing the incident is isolated and does not implicate the company, Maybank Investment Bank (Maybank IB) said in a note. According to Maybank IB, the group assured investors and clients that the probe involves only a single contract manager and a few subcontractors, not the company as a whole. The employee has since been suspended and will be terminated after the remand period. SunCon, which is involved in several high-value data centre projects in the Klang Valley and Johor, has been in active communication with clients to explain the situation. So far, responses have been supportive, and the group does not expect any disruption to its ongoing projects, Maybank IB said. To further bolster investor confidence, SunCon highlighted its recent Anti-Bribery Management Systems (ABMS) certification, awarded just two months ago following an audit by SIRIM and external parties. "It believes its standard operating procedures (SOPs) are sound and the aforementioned case involved just that one employee. SCGB revealed that it conducts subcontracting tenders electronically and only awards to local companies that offer the lowest bid," Maybank IB said. The investment bank said that while acknowledging some reputational impact, SunCon believes the long-term outlook remains intact. "At the very least, it does not expect its existing projects to be affected. SunCon stated that its clients have been receptive of its explanation. Given SunCon's explanation, we believe there should not be too many negative repercussions over time once the case is settled, though there may be near-term distractions," Maybank IB said. Maybank IB reiterated its "BUY" call on SunCon, maintaining a target price of RM6.72 based on 24x fiscal year 2026 earnings, supported by annual job win expectations of RM7 billion. Similarly, Hong Leong Investment Bank (HLIB) echoed a bullish stance, reaffirming its "Buy" rating with a target price of RM6.70. HLIB noted that SunCon's management has assured the RM180 million work scope under the employee's purview can be absorbed internally if subcontractor changes are required. Technically, SunCon shares formed a Hammer candlestick pattern at RM5.49 on July 21, after sliding from an all-time high of RM6.27 on June 11 to a recent low of RM4.93 - a signal that a near-term rebound may be on the horizon. Despite the volatility, SunCon has delivered strong year-to-date performance, trading 12.96 per cent above its January opening price of RM4.63, with a trading range between RM3.29 and RM6.16 - reflecting both investor optimism and broader market swings. In a separate development, the Employees Provident Fund (EPF) - a key shareholder since 2018 - disposed of 20 million shares on July 14 via Citigroup Nominees, trimming its stake to 4.27 per cent and exiting its position as a substantial shareholder. SunCon, listed on Bursa Malaysia in July 2015, continues to demonstrate resilience amid market headwinds - underpinned by strong fundamentals, a solid project pipeline, and growing confidence from both clients and analysts.
New Straits Times
22-07-2025
- Business
- New Straits Times
SunCon brushes off corruption concerns, reaffirms growth outlook
KUALA LUMPUR: Sunway Construction Group Bhd (SunCon) has acted swiftly to reassure investors and clients, dismissing concerns over its long-term prospects following the remand of an employee by the Malaysian Anti-Corruption Commission (MACC) over subcontractor-related dealings. In an investor briefing led by group managing director Liew Kok Wing, SunCon firmly dismissed concerns over its operational integrity and future prospects. The company clarified that the case involves a single contract manager and a few subcontractors – not the company itself. It stressed that the incident is isolated and that SunCon is fully cooperating with the authorities, according to a research note by Maybank Investment Bank (Maybank IB). The employee has been suspended and will be terminated after the remand period, SunCon confirmed. SunCon also reported that it has been in active communication with clients to explain the situation. So far, responses have been supportive, and the group does not expect any disruption to its ongoing projects, Maybank IB said. To further strengthen investor confidence, SunCon highlighted that it obtained Anti-Bribery Management Systems (ABMS) certification just two months ago. The certification was audited by SIRIM and external parties, reinforcing the group's governance credentials. It also reaffirmed that subcontracting tenders are conducted electronically and awarded strictly based on the lowest bid among local companies. "It believes its standard operating procedures (SOPs) are sound and the aforementioned case involved just that 1 employee. SCGB revealed that it conducts subcontracting tenders electronically and only awards to local companies that offer the lowest bid," Maybank IB said. While acknowledging some reputational impact, SunCon believes the long-term outlook remains intact. "At the very least, it does not expect its existing projects to be affected. SunCon stated that its clients have been receptive of its explanation. Given SunCon's explanation, we believe there should not be too many negative repercussions over time once the case is settled, though there may be near-term distractions," Maybank IB said. The research house reaffirmed its "BUY" recommendation on SunCon, maintaining a target price of RM6.72, premised on a 24x fiscal year 2026 price-to-earnings ratio and anchored by annual job win expectations of RM7 billion. The stock was among the most actively traded in the morning session, with over 11.69 million shares changing hands. As of 10.24am, the stock fell to an intraday low of RM5.29, down 20 sen or 3.6 per cent from Monday's close of RM5.49.
Borneo Post
03-07-2025
- Business
- Borneo Post
Sarawak Forest Dept reaffirms integrity commitment at 2025 Integrity Day
Hamden (front, second left) leads his officers in reciting the integrity pledge during the event. BINTULU (July 3): The Sarawak Forest Department has reaffirmed its commitment to transparency and ethical governance by hosting the Sarawak Forest Department Integrity Day 2025 at Promenade Hotel Bintulu, under the theme 'From Seeds to Canopies, Everything Matters'. Sarawak Forest Department director Datu Hamden Mohamad said the theme underscores the idea that every role, regardless of rank or scope, plays a part in the success and transparency of the department's organisational ecosystem. 'It reflects that integrity should not only exist at the top level, but must also be ingrained at the grassroots. Integrity is not a slogan; it is a culture,' he said during the event, which was officiated by Deputy Minister in the Premier's Department (Integrity and Ombudsman) Dato Dr Juanda Jaya. Hamden further emphasised that to strengthen the culture of integrity, the department has invested in the competency development of its officers. 'In 2024, three of our officers successfully completed training as Lead Auditors for the Anti-Bribery Management System (ABMS) ISO 37001:2016 conducted by SIRIM QAS. 'This year, another three officers are undergoing the Certified Financial Investigator Programme (CFIP) virtually, from February to October 2025,' he said. He added that the CFIP is a collaborative initiative between the National Financial Crime Centre (NFCC), Bank Negara Malaysia, and Universiti Teknologi Malaysia (UTM), aimed at enhancing the capability of enforcement officers to detect and investigate financial crimes. 'This proves that we are not merely talking about integrity, but we are actively equipping our officers with the knowledge and skills to uphold it.' Hamden also reported that since the certification of MS ISO 37001:2016 Anti-Bribery Management System was awarded to the Sarawak Forest Department headquarters, the Kapit Regional Forest Office, the Industrial Forest Research Centre at Batu 6, and the R\&D Division at the Forest Research Centre in Kuching last year, a surveillance audit was carried out by SIRIM QAS auditors from June 17 to 20. 'The audit found three non-conformities (NCRs) and several opportunities for improvement (OFIs). We should not fear audit findings. Instead, we should embrace them as opportunities to strengthen our systems and workplace culture,' he added. A highlight of the event at Promenade Hotel Bintulu was the anti-corruption commitment signing ceremony by licensed timber operators, the second time such an initiative has been held in conjunction with Forest Integrity Day. 'As our strategic partners, licence holders are making a joint pledge to reject corruption and fully support compliance with laws and regulations. 'This is a form of shared responsibility where the private sector is also held accountable in strengthening governance, minimising abuse of power, and improving public perception of the forestry industry,' he added. In this regard, Hamden calls on all Sarawak Forest Department staff, regardless of rank or location, to uphold integrity in all daily responsibilities. 'We are not just managing forests in Sarawak; we are safeguarding a trust. Our integrity is the foundation of the public's trust in us,' he stressed. Datu Hamden Mohamad Integrity Day Sarawak Forest Department
The Sun
21-05-2025
- Business
- The Sun
Malaysia Aviation Group achieves anti-bribery management system certification
PETALING JAYA: Malaysia Aviation Group (MAG) has officially become the first airline group in Malaysia to achieve the ISO 37001:2016 Anti-Bribery Management System (ABMS) certification, reinforcing its strong commitment to zero tolerance for bribery, fraud and corruption within the organisation. This milestone marks the fulfilment of a key governance commitment under MAG's environmental, social and governance (ESG) agenda. MAG managing director Datuk Captain Izham Ismail said, 'An effective anti-bribery system must be driven from the top. This certification is not just a formality, it is a firm declaration of our zero-tolerance stance against bribery, fraud and corruption. ISO 37001 reinforces the controls we have built into every part of our operations, from procurement and policymaking to how we engage with partners be it in Malaysia or our international offices. This certification clearly signals our commitment to conducting business with the highest standards of integrity and our accountability in addressing any instances of non-compliance promptly. 'Trust and governance are not optional – they are the foundation of a sustainable aviation business, and this milestone reaffirms our leadership in that space.' The certification process was supported by MAG's board of directors and group executive committee, and included a detailed corruption risk assessment, the formation of a dedicated working group committee, and the development of the ABMS framework. This was complemented by 16 training sessions, workshops, and awareness campaigns rolled out across key business functions to embed the principles of integrity throughout the organisation. The certification currently applies to group-level functions involving governance, risk, compliance, sustainability and leadership, with controls in place to manage bribery risks across high-impact areas such as procurement, vendor engagement, and third-party interactions.
The Star
21-05-2025
- Business
- The Star
Malaysia Aviation Group receives ISO certification for anti-bribery system
MAG Group managing director Datuk Captain Izham Ismail — ART CHEN/The Star KUALA LUMPUR: Malaysia Aviation Group (MAG) has become the first Malaysian airline group to achieve the ISO 37001:2016 Anti-Bribery Management System (ABMS) certification. According to the International Organization for Standardization (ISO), the certification is an internationally recognised standard for the implementation of anti-bribery management systems within an organisation. MAG said in a statement the certification currently applies to group-level functions involving governance, risk, compliance, sustainability, and leadership, with controls in place to manage bribery risks across high-impact areas such as procurement, vendor engagement, and third-party interactions. "An effective anti-bribery system must be driven from the top. This certification is not just a formality—it is a firm declaration of our zero-tolerance stance against bribery, fraud, and corruption. "ISO 37001 reinforces the controls we have built into every part of our operations, from procurement and policymaking to how we engage with partners be it in Malaysia or our international offices," said MAG group managing director Datuk Captain Izham Ismail. MAG's certification process was strongly supported by its board of directors and group executive committee, and included a detailed corruption risk assessment, the formation of a dedicated Working group committee, and the development of the ABMS framework. This was complemented by 16 training sessions, workshops, and awareness campaigns rolled out across key business functions to embed the principles of integrity throughout the organisation. MAG also operates a publicly accessible whistleblowing platform, providing a safe and confidential channel for reporting suspected misconduct. Within the organisation, the Group Business Integrity unit currently has two Certified Integrity Officers (CeIOs), with plans to certify more personnel across departments to ensure the ABMS is sustained and embedded throughout the Group. The group now aims to progressively expand the certification scope to include other business pillars and entities, with the goal of fostering a business ecosystem grounded in integrity and ethical conduct across all touchpoints.
