GOVERNANCE

Prestariang believes that good corporate governance practice is essential. We apply and administer transparent, effective, ethical and sustainable best practices, benchmarked against international best practices across the business operations.


Service and Delivery Excellence

Benchmarked Best Practices

Prestariang is committed to the highest standards of ethical business practices. We adhere and comply with the relevant legislations, regulations and codes of practice. Our culture of integrity strengthens our position as a trusted partner, employer of choice and preferred company for investors.


As a company with global partners, we regularly benchmark against our business partners' best practices, which are then adopted across our entire business chain.


We conform to ethical standards by conducting all activities at the highest level of integrity and compliance while ensuring business continuity. This collaboration has built the foundation for successful business undertakings through responsible and lawful conduct.


Quality Management for Service and Delivery

QUALITY POLICY
"Prestariang is committed to satisfying the needs and exceeding the expectations of our customers and stakeholders and comply with the statutory and regulatory requirements in the distribution and management of software licenses.

We are also committed to continually improve the effectiveness of our Quality Management System"


Prestariang implements quality control system to ensure that high quality service and timely deliverance are provided to our customers. The delivery of Microsoft Business Solutions by Prestariang Systems Sdn. Bhd. was awarded ISO 9001:2015 certification by SIRIM QAS International Sdn. Bhd. on 26 August 2016.


The certification covers the distribution and management of Microsoft MLA 2.0 (Master Licensing Agreement) Enterprise Agreement (EA) software licenses to Government and Government Agencies.


This practice is now adopted by Prestariang Berhad and in process of trickling down to other business levels.


Professionalism and Ethical Conduct

In order to uphold employee professionalism integrity, Prestariang strictly enforces various ethical guidelines as contained in the Company's Code of Conduct. The Code of Conduct ("the Conduct Code") includes professionalism conduct, code of ethics, guide on giving and receiving gifts and business amenities, use and dissemination of proprietary and confidential information, conflict of interest and copyrights concerns.

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For Personal Data Protection Notice, click here to read more

Corporate Governance & Policy

Corporate Governance Statement

The Board of Directors of Prestariang Berhad ("the Company") recognises the importance of maintaining the highest standards of corporate governance and best practices in the business and affairs of the Company and the Group.


The Board, Management and employees of the Group affirm their commitment in ensuring that the Group is at the fore front of good governance and in adherence to the Principles and Recommendations encompass in the Malaysian Code on Corporate Governance 2017 ("the Code"). The Code serves as a fundamental guide to the Board in discharging its principal duty to act in the best interest of the Company and the Group, and managing the business and affairs of both the Company and the Group efficiently and effectively while safeguarding and enhancing shareholders' value.


The Board views the corporate governance as synonymous with the four (4) prerequisites of a responsible corporate citizen, namely transparency, accountability, integrity and corporate performance. In recognition of the Company and Group's efforts, the Company continues to be listed in FTSE4Good Bursa Malaysia Index which is the Environmental & Social Governance Index (ESG) introduced by Bursa Malaysia to measure listed companies' responsibility in environmental, social and corporate governance. It is a collaboration with Financial Times Stock Exchange (FTSE) as part of the globally benchmarked FTSE4Good Index Series and is aligned with other leading global Environmental, Social & Governance frameworks such as the Global Reporting Initiative and the Carbon Disclosure Project.


The Board is pleased to share the following statement which indicates the Principles and Recommendations of the Code, in all material respect, have been adhered to and complied by the Company during the financial year ended 31 December 2016.

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Related Party Transaction Policies & Procedures

Prestariang is committed to the highest possible standards of ethical, moral and legal business conduct. This policy document sets out the requirements to be applied to all related party transactions entered into by Prestariang to ensure that such transactions are conducted on arm’s length basis and in accordance with good governance and with appropriate disclosures.


This Policy aims to provide an avenue for employees to understand the policies and procedures that need to be adhered to in identifying and treating related party transactions (“RPTs”) to ensure compliance with the Main Market Listing Requirements of Bursa Malaysia Securities Berhad (“Listing Requirements”) and other applicable laws.


This Policy outlines the framework and the processes for purposes of identifying, monitoring, evaluating, reporting and approving the RPTs and recurrent related party transactions (“RRPTs”). It also serves as a guide to the Audit Committee (“AC”) and Board of Directors (“Board”) of Prestariang in discharging its role, which is to provide oversight over RPTs and RRPTs within the Group.

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Board Charter

The Board Charter ("Charter") has been developed to highlight Prestariang Berhad's ("Company") Board of Directors' ("Board") commitment to corporate governance. The Charter governs how the Company and its subsidiaries (collectively "Group") conduct its affairs.


The Charter adopts the current 'best-practices', applicable rules and regulations, processes and procedures to guide the Board in the discharge of its duties and functions. This Charter will serve as a reference and benchmark to facilitate regular assessment of the Board's performance.


The Directors’ Code of Ethics is appended to the Board Charter and described the standards of business conduct and ethical behaviour for Directors in the performance and exercise of their responsibilities as Directors of the Company or when representing the Company, including declaration of interests, conduct in meetings and guidelines in accepting gifts.

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Remuneration Committee and Policy

Remuneration Committee carry delegated responsibilities by the Board Committees. The main objective of the Remuneration Committee is to assist the Board of Directors in ensuring that the Company has a competitive remuneration package to attract and retain directors and senior management staff (both present and potential future) needed to run the Company.


The Remuneration Committee has defined the terms of reference. Please click here to read further.


In addition to this, the Remuneration Policy entails the demands, complexities and performance of the Company as well as skills, knowledge and experiences required. The Policy helps promote long-term goals in safeguarding the Company’s interests and interest of the shareholders. The Policy is aimed at motivating the Board and the senior management to achieve the Group’s business objectives. The Policy also includes claw-back and malus provision. Please click here to read further.


Woman on Board

Prestariang Berhad's ("Company") Board of Directors' ("Board") acknowledges the importance of diversity as one of the element of good corporate governance. Prestariang has taken steps to ensure that women candidates are being sought as part of its recruitment exercise, which can equally meet the Company goals and target.


Whistle Blowing Policy and Grievance Procedures

The Company's Code of Conduct ("the Conduct Code") also contains policies and guidelines relating to the standards and ethics that all employees are expected to observe and obey for the purpose of regulating an orderly business environment in the Company. This policy is to express that the Company views of certain acts by the employees very seriously especially if these could jeopardize the Company's image, create discord amongst employees, and / or endanger employees' interest. This extends to our activities and operations to meet our social responsibilities and environmental preservation obligations.


With this in mind, the Company is also committed to highest standards of openness, probity, accountability and transparency to create a mechanism to enable staff and other members of the Company to voice concern in a responsible and effective manner. Therefore the Conduct Code also explicitly addresses the Whistle Blowing, Sexual Harassment and Grievance policy and procedure

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Good Risk Management

At Prestariang, sustainable governance processes are integral to sustainable operations. The adoption of best practices and common standards throughout our business chains includes on the awareness of risk management.


The disclosure of risk management and internal control among Malaysian public-listed companies increases each year to ensure accurate and timely disclosure of material information to investors. Risk management and internal control are integrated into management processes and embedded in all day to day business activities of the Group.


The Management Team is expected to provide assurance to the Board of Directors that the Group's risk management and internal control systems are operating adequately and effectively based on the risk management framework adopted by the Group.


Prestariang outsourced the Company's internal audit function and reporting to KPMG Management & Risk Consulting Sdn. Bhd. (KPMG MRC). KPMG MRC reports independently and directly to the Audit Committee in respect of the internal audit function.

Click here to read the Risk Management Framework


Commitment to Workplace Health Safety & Environment

Prestariang is committed to nurturing and sustaining a work culture that prioritises health, safety and consideration to the environment. With this in mind, we formalised the Health, Safety and Environment (HSE) Policy in 2017.

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Embracing Globally Recognised Corporate Responsibility Standards

In 2014, Prestariang was proudly selected to become among the early pioneer companies within the Malaysian market to address relevant corporate responsibility risks in the FTSE4Good Bursa Malaysia Index. The FTSE4Good Bursa Malaysia Index is designed to measure the performance of companies demonstrating good ESG (Environment, Social and Corporate Governance) practices.


In December 2017 ratings, we achieved an Absolute Score of 3.9 (2016: 4.4, 2015: 3.0). The ICB Supersector Relative Percentile Score was 83 (2016: 98, 2015: 64). We had an increase rating on our Social Pillar, in which will encourage us to do more. The FTSE4Good breakdowns consist of Pillar and Thematic Exposures and Scores that are applied to each company's unique circumstances and results are tabulated to achieve the overall score.

Although, we have dropped in our overall ratings, Prestariang is determined to improve in year 2018. Nevertheless, we thank our stakeholders for their feedback during our external and internal engagement to improve our business conduct, knowledge level, attitude and behaviour.


Prestariang is also a constituent of:

  • FTSE Bursa Malaysia Emas Shariah Index
  • FTSE Bursa Malaysia Small Cap Shariah Index


In addition to this, the Malaysia - ASEAN Corporate Governance 2017 reported by Minority Shareholder Watchdog Group Malaysia (MSWG) that Prestariang Berhad has maintained its ranking within the Top 100 Companies with Good Disclosure.

Prestariang has also maintained its ranking with the top 100 Companies for Overall Corporate Governance & Performance.



This has been a great honour for Prestariang to continuously improve our reporting and our implementation of good corporate governance.

Vendor Management Governance

Developing Vendor Competence

Prestariang has established the Strategic Partnership Program to continuously assess and monitor vendors' performance in meeting the Company's quality and standards criteria. This includes the appointment of strategic vendors, assessing vendors' systems, operations and deliverables of goods and services which are supplied.


Through this program, we can better evaluate the supply chain quality and management systems, procedures and compliance and accuracy of documentation.


To maintain a robust working relationship, we encourage our vendors to develop new capabilities to improve their core competencies via regular communication with them for a two-way improvement between both parties. The benefits of developing strong capabilities within our program will result in:

  • better control of time, cost, quality for any given project or program;
  • better identifying opportunities for cost savings;
  • implementing operational improvements; and
  • more effective and efficient review of deliverables and/or service levels.





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