Corporate Governance

Corporate Governance

GLP operates its business in accordance with the highest ethical standards and according to all applicable laws. The foundation of our success is in the trust and confidence that we establish with our customers, employees, shareholders, investors, suppliers, and communities. This trust and confidence is earned by providing quality products and services through efficient, ethical and responsible business practices.

GLP has adopted a Code of Ethics and Standards of Business Conduct which describes our company values and principles. The Code of Ethics and Standards of Business Conduct is our guide to the GLP value system of ethical conduct. It helps us make good decisions by applying values and principles to specific issues that arise in the workplace. Used in conjunction with the company’s published policies and practices, the Code of Ethics and Standards of Business Conduct will help each of GLP employees apply our institutional and personal values of honesty, fairness, and integrity to everything we do at GLP.

Among several rules, we highlight the following in our Code of Ethics and Standards of Business Conduct applicable to all employees across the globe:

  • In no event, no value is allowed for improper contribution to an Agency and Public Official Agent, as well as cash payments to service providers.
  • No supplier, service provider and business partner should have (i) a relationship with an Agency or Public Official, which should be construed as a potential undue favor to GLP or the Agency or Public Official; and (ii) criminal actions or related to failure to comply with anti-corruption legislation.
  • No facilitation of payments is allowed. Facilitation payments are defined as any payments or consideration in contravention of any applicable laws or regulations and/or which are not formalized in writing.
  • When offered a business courtesy or before giving a business courtesy, employees are expected to use good business judgment in determining whether it is appropriate to accept/give the courtesy according to GLP relevant company rules (including check whether the business courtesy does not violate any law or regulation);
  • Employees cannot (i) ask for a business courtesy; and (ii) use GLP position as a means of obtaining business courtesies, such as personal discounts or credits on products, services, or other items.
  • Procurement decisions must be made on the basis of quality, service, price, delivery, best value, and other similar factors.

GLP operates its business in accordance with the highest ethical standards and in accordance with all applicable laws. The foundation of our success is in the trust and confidence that we establish with our customers, employees, shareholders, investors, suppliers, and communities. This trust and confidence is earned by providing quality products and services through efficient, ethical and responsible business practices. Employees of GLP are expected to conduct themselves with integrity, impartiality and honesty. GLP's success is dependent on each member's commitment to these enduring values.

Inquiries and Reports

If you have any questions about GLP's code of conduct policy or if you have any concerns, you are encouraged to share these concerns. You can do so by:

 

Confidentiality

To the extent that it is lawful and the investigative process reasonably allows, all reports received and the identity of the reporting party will be handled in strict confidence. However, please note that a reporting party may be requested to make a statement to the relevant law enforcement authority(ies) or otherwise give evidence to facilitate the investigative process and/or to the extent otherwise required by law.

GLP is committed to ensuring the highest standards of corporate governance as a means of enhancing corporate performance and accountability. To demonstrate its commitment towards excellence in corporate governance, the Company has established a series of well-defined policies and processes to protect key stakeholder interests.

Management of the Company recognize the importance of strong corporate governance and the maintenance of high standards of accountability to our shareholders, and remain firmly committed to seeing that those standards are satisfied through an evolving suite of governance practices that are woven into the fabric of the Company’s business.

The Company continually reviews and refines its processes in light of best practice, consistent with the needs and circumstances of the Group.

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