Sustainability & Governance
Sustainability at the Core
- Value Creation DNA
- Sustainability Approach
- Sustainability Reports
- Anti-Bribery and Anti-Corruption Policy
- Code of Conduct
- Compliance with Export Control Laws
- Conflict Minerals Policy
- Corporate Policy on Exchange of Gifts
- Environmental Policy
- Health and Safety Policy
- Personal Data Protection Policy
- Quality Policy
- Whistle-Blowing Policy
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.
Venture recognises that a comprehensive business sustainability plan is essential in helping the Group build a resilient, sustainable and adaptable enterprise in a fast-changing and technology-driven world. The Group takes a strategic approach to sustainability by aligning its sustainability focus areas with its core values. The Group believes that success should be grounded by sound corporate governance practices, building a diverse and engaged workforce, as well as pioneering innovation.
Venture is committed to delivering exceptional performance and value to all its stakeholders. It is an everyday pursuit, to raise the bar of organisational and financial excellence. The Group has consistently been ranked “Best in Class” in areas of technology, quality, responsiveness, delivery, cost and environment.
In line with Venture’s commitment to environmental sustainability, we no longer print the Sustainability Report. Please view the online version instead.
Anti-Bribery and Anti-Corruption Policy
Venture firmly believes that a strong corporate culture of compliance translates into sound business decisions, which underpin sustained excellence in operational and financial performance, and ultimately deliver value to all stakeholders.
We conscientiously promote and maintain a corporate culture within the Venture Group that upholds the highest standards of integrity, and adopt a zero-tolerance approach towards inducement, bribery and corruption. All officers, directors and employees of the Venture Group are expected to conduct themselves with utmost business integrity under any circumstances.
The Venture Group prohibits all forms of bribery and corruption in all jurisdictions where we operate.
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 decision, underpinning its operational and financial performance and delivering value to all stakeholders.
Towards this end, the Group upholds a high standard of corporate conduct in conformity to the principles of the Code of Corporate Governance. In addition, the Group’s Social Code of Conduct (the “Code”) is modelled on and applies the language of the Responsible Business Alliance Code of Conduct. This Code builds on the Group’s commitment to good employment practices and workplace related human rights, among other desirable corporate practices. It set out a common approach for corporate wide development of policies and practices. The Code applies to every Venture employee around the world without exception.
The Group believes that corporate governance is not simply a matter of compliance with Code, policies and regulatory standards, however it is embedding the right corporate mindset in its people. Acknowledging that its people are the key upholders of such standards, the Group has conscientiously nurtured a 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 code similar to its corporate standards and practices.
Venture is committed to the ongoing review and refinement of its Code and internal processes by which the business and affairs of the Group are managed. The Group will also uphold its accountability to and auditability by all stakeholders.
Compliance with Export Control Laws
Venture’s Group-wide export control compliance programme (“ECCP”), which applies to all Venture employees, sets out a framework of operational controls and protocol that requires 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.
Any Venture employee who has knowledge of facts or incidents which 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. Further, employees will receive export control training including a run-through of the Group’s ECCP. Employees can refer to the Company’s guidelines to clarify any uncertainties that they may have.
The Group also periodically reviews practices at high risk operational units for compliance with its ECCP.
Conflict Minerals Policy
The Group is committed to sourcing components and materials from companies that share its values around human rights, ethics and environmental responsibility and is committed to sourcing responsibly and is fully supportive of global efforts to ensure responsible manufacturing process with transparent sourcing in accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act (“the Dodd-Frank Act”).
Venture supports the actions of Responsible Business Alliance (“RBA”) and the Global e-Sustainability Initiative (“GeSI”) and our Conflict Minerals Policy is modelled on RBA reporting requirements.
Venture works closely with its supply chain partners and suppliers to ensure compliance to RBA standards on conflict minerals which outlines that specified metals are not to be sourced from mines in Conflict Regions, which are controlled by non-government military groups, or unlawful military factions.
Corporate Policy on Exchange of Gifts
The Social Code of Conduct of the Venture Group discourages employees from accepting anything more than modest gifts, and meals from business associates at all times.
Other than ordinary business meals and small tokens of appreciation, employees are advised to decline all gifts which might reasonably be seen to compromise their personal judgement and/or integrity.
Similarly, employees are advised against lavish extension of hospitality and gift-giving.
The Group is however cognizant that there will be business associates including suppliers, customers and contractors who will still bear gifts especially during festive occasions. Employees are thus advised to refer to these guidelines and exercise discretion in the acceptance and retention of the gifts:-
- To observe compliance to acceptable business practices under Venture’s Code of Conduct at all times.
- To advise business associates who are insistence on presenting a gift to address the gift to the Company as opposed to an individual and to have the gift delivered to the Company official address. Employees who are in receipt of gifts at their home, are advised to bring the gifts to the office and declare them accordingly.
- Gifts of value equal to or in excess of S$50 including hampers should be declared to HR for further decision, with the exception of gifts in the form of cakes, cookies and/or other perishable confectioneries which may be distributed and shared among employees.
If any employee is in doubt as to how to deal with a gift, he or she is advised to consult the HR Department.
The Venture Group recognises and respects the delicate balance for co-existence of all natural resources. The attainment of the ISO 14001 certification is just a starting point. Beyond this, the Group has an Environmental Management System with key green manufacturing programmes. Group-wide green manufacturing initiatives include:-
- RoHs implementation with RoHs certified equipment in its facilities;
- Ozone Depleting Substance (“ODS”) FREE Process Verification Scheme;
- control and management of air emissions, noise and wastewater discharge in all its facilities;
- establishment of waste management systems and recycling programs;
- resource conservation extending to the use of water, power, paper and other materials in its manufacturing facilities and offices; and
- promulgation of its Environmental Policy and its programmes to all persons working for and on behalf of the Group.
The Group has an Environmental System Management (“EMS”) Committee to review and implement group-wide green initiatives. The Committee aims to comply with all regulatory requirements while improving the Group’s overall environmental footprint by reducing waste, water, power, CO2 emissions and any other materials by optimizing outputs and increasing productivity levels.
Year to date, Venture has not been subjected to any regulatory fines or penalties in regards to environmental matters or other environmental aspects. Venture is committed to publishing this information, along with any other significant matters relating to environmental performance, as they occur.
Health and Safety Policy
Recognising that its employees are its most valuable assets, Venture places importance in providing and maintaining a safe and healthy work environment across its global operations and facilities. To this end, Venture has implemented environmental health and safety quality standards at all sites and has put in place, processes to ensure that these safety regulations and standards are never compromised.
Regular management reviews are conducted to enhance its existing safety standards and practices, as well as its compliance to the applicable codes, regulations and laws in the countries in which it operates.
Personal Data Protection Policy
Venture respects the privacy of personal data disclosed to the Group and is committed to protect the personal data of an individual according to applicable laws. The collection, use and disclosure of personal data is outlined in Venture’s Personal Data Protection Policy.
If you have any questions or concerns on this Policy and any related queries, please contact Venture’s Personal Data Protection Officer at or by post at 5006 Ang Mo Kio Ave 5 #05-01/12 TECHplace II Singapore 569873.
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.
Venture does not allow any malpractice, impropriety, statutory non-compliance or wrongdoing by Group Employees in the course of their work. The Group has in place a Whistle-Blowing Policy to provide a framework for responsible and secure whistleblowing without fear of retaliation.
The objectives of the Whistle-Blowing Policy are to:
1. Build and strengthen a culture of transparency, trust and integrity within the Group;
2. Provide a reporting channel for the Group’s stakeholders;
3. Provide assurance that the Group recognizes the need for the protection of responsible Whistle-Blowers; and
4. Ensure that a fair and independent investigation is conducted where investigations are warranted.
Reports under this Policy shall be brought to the attention of the Whistle-Blowing Committee via any of the following channels:
b) By Telephone during Singapore office hours, 8.00 am to 5.30 pm from Monday to Friday. Outside office hours, we advise callers to report via email or by post:
(i) Head of Internal Audit (telephone +65-64848096)
(ii) Head of Human Resources (telephone +65-64848370)
(iii) Head of Legal (telephone +65-64847002)
c) By Post: Head of Internal Audit, Venture Corporation Limited, 5006 Ang Mo Kio Avenue 5, #05-01/12 TECHplace II, Singapore 569873.