Building a good relation with both internal and external parties is one of the most primary things in a corporate business. As a large company which fully supports good corporate governance, Kimia Farma Trading & Distribution (KFTD) is also aware of this matter.
However, during the business practices, the practices of bribery and conflict of interest might come up between one party to another. This is a possible risk that every company should face up—and KFTD is no exception. In spite of it, the company has its own way to prevent and handle this matter effectively.
Preventing the Risk of Bribery: The KFTD Ways
To prevent bribery and gratification, KFTD holds onto the Gratification Guidelines as well as Anti-Bribery Management System. With these rules in mind, the company members are obliged to perform the following actions:
- Announce a prohibition on giving and receiving bribes in the forms of gifts or entertainment in all company activities.
- Assign every function and unit related to vendors, suppliers, or third parties to share form letter regarding the company’s rules about bribery and gratification.
- Carry out socialization about the Gratification Guidelines to Corporate and Operational Units within the company.
- Delegate the work units of risk management to monitor the implementation and execution of anti-bribery system periodically (every 3 months).
How KFTD Prevents Conflict of Interest
In addition to preventing bribery practices, KFTD encourages all of its company members to prevent and avoid conflict of interest. Therefore, they are not allowed to do some certain actions, including:
- Performing transaction using the company’s financial resources for personal matters.
- Receiving or offering gifts and other kinds of benefits in any form to support the company’s business.
- Making use of the company’s discreet information and business data for external affairs.
- Using the company’s copyright or brands that can inflict a financial loss.
- Building a business relation with certain parties that already have connection to the company.
In short, KFTD makes sure that its company members must professionally avoid any action leading to bribery conflict of interest. If such cases occur, the individuals involved have to step down from their position.
The way KFTD prevents such conflicts proves that the company takes this issue as a serious matter. This also indicates that Kimia Farma Trading & Distribution has successfully followed the principles of good corporate governance, making it a reliable partner for distribution in the pharmaceutical business.