Business Ethics And Compliance

SMC upholds the highest standards of integrity, fairness, and honesty, recognizing these as foundational values that have kept us going for 134 years and key to the next hundred.

We believe strong governance safeguards our reputation, especially given the risks inherent in our industries. As a major player in power generation, fuel, infrastructure, transportation, and manufacturing, including tollways and airports, SMC interacts with numerous government agencies on a national and local level. Across our business operations, the amount of spending on the procurement of materials and services is massive. In this context, our people face potential ethical challenges on a regular basis. To prevent irregularities, we have reinforced our policies and systems to ensure transparency and compliance.

These policies are the following and are found on the websites of SMC and its major subsidiaries.

Discussion on the above policies is part of the onboarding process for new employees, with annual refresher sessions to ensure that all employees are fully aware and periodically reminded of these policies. Online modules are accessible on Success Factors, with monitoring conducted by the respective HR units to ensure completion.

For 2024, six reports received by the SMC whistleblowing officer (WBO) were determined to require action. Two of this were related to sexual harassment while four were about anomalies in different units across the businesses. Following investigation, one employee was dismissed, another suspended and one resigned while the investigation was ongoing. The other cases are still under investigation and being handled by the respective business units involved. Many other reports reached the WBO but were redirected to more appropriate units for action (e.g. product or service complaints, concerns on employee benefits, or requests for medical assistance).