Objectives and Scope
Magnus Energy Group Ltd. (“Magnus”) is committed to maintain a high standard of corporate governance. This Whistleblowing Policy (the “Policy”) is intended to provide a framework to promote responsible and secure whistleblowing without fear of reprisal, discrimination or adverse consequences when reporting in good faith.
Employees and external parties, such as suppliers, contractors and other stakeholders, may use the procedures set out in the Policy to report any concern or complaint regarding unethical conduct of employee, serious breaches of Group policy, unsafe work practices or any other matters involving actual or suspected fraud and corruption.
The Policy is meant to protect genuine whistleblowers from any unfair treatment as a result of their report. Frivolous or malicious allegations will be disregarded. The Policy is also not a route for taking up personal grievances.
Magnus encourages employees and outside parties to put their names to their allegations whenever possible. Reports made anonymously are difficult to act upon effectively although they will be considered, taking into account the seriousness and credibility of the issues raised, the likelihood of confirming the allegation from the sources, and information provided by the whistleblower. All concerns or irregularities raised will be treated with confidence and effort will be made to ensure that confidentiality is maintained throughout the process.
Reports lodged should be as specific and detailed as possible. The report can be sent to the chairman of the Audit Committee, Mr Ong Chin Chuan, using Whistleblowing Report form or email directly to:
All information disclosed during the course of investigation will remain confidential, except as necessary to conduct the investigation and to take any corrective measures, in accordance with any applicable laws and regulations. Please note that the reporter may be called upon to assist in the investigation if required.
Magnus reserves the right to refer any concerns or complaints to appropriate external regulatory authorities.