MAGSAYSAY GROUP OF COMPANIES
Whistleblowing Policy

 

  1. Introduction

Magsaysay Group of Companies (“MGC”) is committed to achieving and maintaining the highest standards of fairness, transparency, accountability, and ethics, as embodied in its Code of Conduct. All staff at all levels of the organization are expected to conduct themselves with integrity, impartiality, and honesty. It is the responsibility of the directors, officers, principals, MPs, vendors, suppliers, contractors, and consultants to ensure that any genuine issues and concerns of wrongdoing, impropriety, or irregularity involving or affecting MGC does not occur. It is also critical to maintain a good corporate image and raise the standard of corporate governance of MGC. Hence, MGC adopted a whistleblowing policy (the “Policy”).

  1. Purpose

The purpose of formulating this Policy is to allow directors, officers, principals, MPs, vendors, suppliers, contractors, and consultants to freely communicate and report their concerns about illegal or unethical practices, without fear of retaliation in any form, against them. This Policy aims to deter and uncover corrupt, illegal, unethical, fraudulent, and other unlawful activities detrimental to the interests of MGC. Everyone is expected to support and encourage whistleblowing.

III. General Statement of the Policy

This Policy is intended to assist individuals who believe that they have discovered wrongdoing or impropriety in the conduct of the business of MGC through a confidential reporting channel. It is not designed to address concerns relating to employment matters which can be properly raised through the grievance procedure.

Whistleblowing matters may include but are not limited to the following:

  1. malpractice, impropriety, or fraud relating to internal controls, accounting, auditing, and financial matters;
  2. violation of the rules and regulations or the Code of Conduct of MGC;
  3. improper conduct or unethical behavior likely to prejudice the standing of MGC;
  4. breach of legal or regulatory requirements;
  5. criminal offences, breach of civil law, and miscarriage of justice;
  6. threats to someone’s health and safety; and
  7. deliberate concealment of any of the above.

 

  1. Protection and Confidentiality

This Policy protects employees and other whistleblowers from victimization, harassment, or disciplinary action as a result of any disclosure of impropriety, where the disclosure is made in good faith and is not made maliciously or for personal gain. MGC shall ensure that all disclosures raised will be dealt with appropriately, consistently, fairly, and professionally. Confidentiality will likewise be maintained to the extent permitted by law. MGC shall not tolerate retaliation in any form against the whistleblowers who, in good faith, raise a concern or report a possible violation under this Policy. However, this assurance will not extend to someone who maliciously raises a matter which is known to be untrue. Anyone who knowingly submits a false report or have fabricated evidence shall be subject to disciplinary and/or legal action.

  1. Whistleblowing Channel

Anyone who has a legitimate concern should complete the attached Whistleblower Report Form (WRF) and send it directly to hotline@magsaysay.com.ph. Alternatively, the matter may be sent to Mobile No. 0919-061-5720, whichever is more convenient to the whistleblower.

The WRF shall include full disclosure of the relevant details such as the parties involved, dates or period of time, type and reason of concern, and supporting documentation sustaining the claim, where possible. The whistleblower is required to put his name in the disclosure he made. Anonymous complaints will not be considered.

  1. Procedure

The Receiving Officer shall inform the Chief Legal Counsel (CLC) or the Deputy Legal Counsel (the “Whistleblower Champion”), in case the CLC is out of the office, upon receipt of the complaint.

Subject to the gravity and credibility of the issue raised and the probability of validating the concern from reliable sources, the matter will be investigated by the Whistleblower Champion or external lawyers or auditors. Depending on the nature of the complaint, the subject of the latter may be informed of the allegation against him and be provided with an opportunity to reply to such allegations. Anyone involved therein who fail to cooperate in the investigation or deliberately provide false information during an investigation, shall be subject to disciplinary sanctions, including dismissal or termination.

After the completion of an investigation, the findings shall be submitted to the Whistleblower Champion. If a violation occurred or the allegations are substantiated, corrective actions shall be undertaken. Identities of persons who have raised concerns will be held in confidence unless otherwise agreed. Page 3 of 4

VII. Record Retention

Records shall be kept for all reported complaints by AMI Legal. In the event a reported irregularity leads to an investigation, the party responsible for leading or conducting the investigation shall ensure that all pertinent information relating to the case is retained, including the details of corrective action taken for a period not exceeding six years or whatever other period may be specified by any relevant legislation.

VIII. Review of Policy

AMI Legal has the overall responsibility for periodic review of this Policy. Page 4 of 4

WHISTLEBLOWER REPORT FORM

(This Report Form is proprietary and confidential and not for the consumption of the public.)