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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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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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.

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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.


Commitment to Workplace Health Safety & Environment

Our emphasis on Health, Safety & Environment (HSE) are cascaded to our employees via a vigorous safety and health management program. This HSE Policy has created an ideal workplace where safety and health risks as well as environmental concerns are identified, assessed and controlled or minimised if not eliminated.


Throughout 2016, various HSE programs and initiatives were implemented which included documentation of safe work procedures, briefings and trainings, emergency preparedness and response, wellness activities, management of contractors and incident reporting and investigation.


HSE meetings, Workplace Inspections and HSE Audits are conducted and reports are generated to monitor and evaluate the effectiveness of our programs.


Opportunities for improvement are discussed and where applicable, implemented to minimise the safety and health risks and environmental impact.


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.

Prestariang is also a constituent of:

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


In December 2016 ratings, we achieved an Absolute Score of 4.4 (2015: 3.0), just short of 12% from achieving the highest score of 5. The ICB Supersector Relative Percentile Score was 98 (2015: 64). Breakdowns into underlying Pillar and Thematic Exposures and Scores are applied to each company's unique circumstances and results are tabulated to achieve the overall score.


This commendable performance is due to our effective internal engagement with our employees to successively increase their knowledge level, attitude and behaviours.


In addition to this, the Malaysia-ASEAN Corporate Governance 2016 report by Minority Shareholder Watchdog Group Malaysia (MSWG) has also ranked Prestariang Berhad at No. 20 from the Top 100 Companies for Overall CG & Performance for the year 2016. This is a significant 6% increase of ranking from the year 2015.



Also, we were ranked No. 42 from the Top 100 Companies with Good Disclosures. This is a significant 2% increase of ranking from the year 2015.


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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