Social and Governance – Venture Corporation Limited

Social and Governance.

Built on a foundation of fairness, integrity and strong ethical practices, Venture has a zero tolerance for corruption and dishonest business practices. We ethically manage our operations for the long-term benefit of all stakeholders.

Our people are our most valued asset. We are committed to maintaining a professional work environment where our employees succeed and thrive. Our human capital management strategy is guided by our Code of Conduct, the principles of the United Nations Global Compact, and applicable laws and regulations.

Sustainability.

Value Creation DNA.

Since its founding, it is Venture’s strong belief that value creation must lie at the heart of all the operations carried out by the Group. Guided by its vision, mission and values, Venture has seen its relentless pursuit of excellence contribute to its all-round progress. Besides having a strong focus on economic performance and technological leadership, Venture takes pride in having contributed to the economy and the society through the creation of more than 12,000 quality jobs worldwide, covering Research, Products and Solutions Development, Advanced Manufacturing, Supply Chain Management and Order Fulfilment, Product Distribution and Reverse Logistics.

As Venture continues to build on its current success, the Group remains appreciative of how an increasingly interconnected economic-social-environmental landscape can impact the natural environment and fabric of the society. At Venture, it is the Group’s belief that business success must be accompanied by unwavering principles of integrity.

Code of Conduct.

The Group recognises that its growth and success must be anchored firmly on a framework of sound corporate governance principles, practices and processes. It believes that its drive towards effective corporate governance and ethical corporate conduct will translate to sound business decisions, underpinning its operational and financial performance and delivering value to all stakeholders.

Acknowledging that its people are the key upholders of such standards, the Group has conscientiously nurtured strong corporate governance culture amongst its Board of Directors, Management and its employees. In addition, the Group engages its supply chain partners and business associates actively in the development and implementation of robust corporate standards and practices.

Venture’s Code of Conduct sets out a common approach for corporate-wide development of policies and practices. The Code applies to every Venture employee around the world without exception.

Supplier Code of Conduct.

Venture is committed to providing products and services produced in a way that respects fundamental human rights and the environment, preserves every worker’s right to a safe and fair workplace, and upholds high standards of business ethics. We are keen to work with all stakeholders, including our suppliers in the value chain, to promote and maintain a resilient and sustainable supply chain. Through close cooperation with our suppliers, we strive to positively influence their environmental, social and governance performance.

Responsible Business Alliance.

Member of the Responsible Business Alliance.

As an Affiliate Member of the Responsible Business Alliance (RBA), Venture fully supports the vision and goals of the RBA:

Vision: A coalition of companies driving sustainable value for workers, the environment and business throughout the global supply chain.

Mission: Members, suppliers and stakeholders collaborate to improve working and environmental conditions and business performance through leading standards and practices.

Venture commits to progressively align its own operations with the provisions of the RBA Code of Conduct and to support and encourage its own first-tier suppliers to do the same. Wherever possible, Venture will seek to adopt the RBA approach and tools in practical ways in the spirit of the industry’s common goals.

Member of the Responsible Business Alliance.

As an Affiliate Member of the Responsible Business Alliance (RBA), Venture fully supports the vision and goals of the RBA:

Vision: A coalition of companies driving sustainable value for workers, the environment and business throughout the global supply chain.

Mission: Members, suppliers and stakeholders collaborate to improve working and environmental conditions and business performance through leading standards and practices.

Anti-Bribery and Anti-Corruption.

Within Venture, we conscientiously uphold the highest standards of integrity and a zero-tolerance approach towards inducement, bribery and corruption. All employees are expected to conduct themselves with utmost business integrity under any circumstances.

Compliance with Export Control Laws.

Venture’s Export Control Compliance Programme (ECCP) sets out a framework of operational controls and protocols that require the Group’s internal and external transactions to be conducted in compliance to applicable export control laws and regulations, including without limitation, the U.S. Export Administration Regulations and the International Traffic in Arms Regulations, the Singapore Strategic Goods (Control) Act and the Malaysia Strategic Trade Act.

An employee who has knowledge of facts or incidents which he/she believes may violate applicable export control relations, whether intentional or accidental, is required to report the matter promptly to the Group Export Compliance Officer. Comprehensive training on export control regulations are regularly conducted.

Sourcing Responsibly.

Venture is committed to sourcing components and materials from suppliers that share its values around human rights, ethics and environmental responsibility. We are committed to sourcing responsibly and support the responsible manufacturing process with transparent sourcing in accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act).

Venture endorses the Responsible Business Alliance (RBA) and the Global e-Sustainability Initiative (GeSI) and our Responsible Minerals Policy is aligned to the RBA- reporting requirements.

We work closely with our supply chain partners and suppliers to ensure compliance to RBA standards on conflict minerals which states that specified metals are not to be sourced from mines in Conflict Regions controlled by non-government military groups, or unlawful military factions.

Gifts and Business Entertainment Policy.

The Venture Group and its Employees shall not accept or provide gifts or business entertainment to any party if the intent is to improperly influence a business decision or to secure a favour or a benefit in exchange.

This Policy sets out the rules which apply in situations where Employees intend to receive or provide any Gifts and Business Entertainment.

Health and Safety.

Venture places importance in providing and maintaining a safe and healthy work environment across its global operations and facilities. With a focus on the health and safety of our employees, we promote a ‘zero injuries’ culture and ensure that our facilities have safety management systems in place. We keep our manufacturing plants as safe as possible and in compliance with all safety standards and regulations.

Personal Data Protection.

Venture respects the privacy of personal data disclosed to the Group and is committed to such data protection according to applicable laws. The collection, use and disclosure of personal data is outlined in Venture’s Personal Data Protection Policy.

Any queries on this policy should be directed to Venture’s Personal Data Protection Officer at dataprotection@venture.com.sg or by post to 5006 Ang Mo Kio Ave 5 #05-01/12 TECHplace II Singapore 569873.

Quality Policy.

Ensuring customer satisfaction – this is the underlying core value on which we have built our quality mission. We believe that quality is the cornerstone of customer satisfaction and provides the foundation for long-lasting partnerships.

Venture’s first rate services and quality proven products are achieved through an effective customer feedback system, a fervent compliance with relevant regulatory requirements and a mindset to continuously improve and maintain the effectiveness of its Quality Management System.

Venture adopts a Total Quality Control (“TQC”) approach through total participation and commitment of staff at all levels. Venture’s quality policy and its objectives are clearly communicated throughout the organisation as well as to its customers and suppliers. Venture’s operations and processes have been built to meet international quality standards.

Venture has a comprehensive quality assurance system that satisfies the requirement of international standards including ISO 9001, IATF 16949, ISO 13485, EN 9100 and TL 9000.

Venture’s head office in Singapore is a member of the Singapore Quality Class, a recognition accorded by the Singapore government for excellent and consistent quality standards and practices.

Whistle-Blowing.

Venture does not condone any malpractice, impropriety, non-compliance with its policies, statutory violations or any wrongdoing by its employees. The Whistle-Blowing Policy provides a channel for employees and external parties to raise and report, in good faith without fear or favour, any concerns about possible improprieties.

Reports and related queries under this Policy shall be brought to the attention of the Audit and Risk Committee (ARC) Chair via any one of the following channels:

a) By Telephone: to the Head of Internal Audit (+65-6484 8096) during office hours, 8.00 am to 5.30 pm (GMT+8 hours) from Monday to Friday.

b) By Email: whistleblow@venture.com.sg

c) By Post: Head of Internal Audit, and marked to the attention of the ARC Chair, Venture Corporation Limited, 5006 Ang Mo Kio Avenue 5, #05-01/12 TECHplace II, Singapore 569873.