It is for this reason that we have adopted our own Code of Corporate Governance (the Code). We continue to develop our policies and procedures to support the provisions of the Code. Furthermore, we will use the Code as a basis to measure our corporate governance performance throughout our group of companies.
The material that supports our corporate governance system documents our values and culture which in turn requires us to adopt the right behaviours and to ensure that we adopt and maintain the highest ethical standards. By doing so we can demonstrate to all of those who care to look, that Darussalam Assets has, and will maintain, best practice governance standards that support and underpin our, and the country’s, overall business strategy.
In our dealings with our portfolio companies, our suppliers, our customers, our business partners and our competitors, we wish to be known as an organisation that can be relied on for the fairness and integrity in the way we conduct business. We have a reputation, which we must constantly strive to maintain, that marks us out as people that can be trusted.
We have sought through the adoption of the Code, and our supporting policies and processes, to promote and facilitate effective, entrepreneurial and prudent management that can deliver the long-term success of Darussalam Assets and the GLCs we own and/or manage.
To maintain the momentum, and to ensure that we strive to improve the effectiveness of our governance systems, the Board has established a standing committee to focus specifically on governance and training. The Governance Training Committee (GTC) is responsible to the Board for the detailed review of our governance structures and systems and to ensure that our people are provided with the most appropriate training to prepare them for their careers in our organisation. The GTC is currently developing a number of training initiatives to identify and develop the talent needed to fill future management and board positions.
The corporate governance framework includes the development of Corporate Social Responsibility (CSR) policies designed to operate within Darussalam Assets and the GLCs it is responsible for. It is our aim to lead the way in Brunei Darussalam as a responsible corporate citizen promoting environmental sustainability, community involvement and ethical business by adopting best international practice in this and all that we do.