TM Group has a formal organisation structure with clearly defined lines of responsibility and authorities to facilitate quick response in the evolving business environment, effective supervision of day-to-day business conduct and accountability for operation performance.
The roles of Central Functions (Corporate Centres) have been strengthened to provide guidance related to specific core function strategies and governance related matters to the Lines of Business
Management has established four strategic thrusts to support the achievement of the Group’s key business objectives. They are: – Customer centricity and quality improvements;
– One company mind-set with execution orientation;
– Operational excellence and capital productivity; and
– Leadership through innovation and commercial excellence.
Internalisation of TM Group’s Core Values of ‘Total Commitment to Customers’, ‘Uncompromising Integrity’ and ‘Respect and Care’ serves as a foundation of the Group’s culture.
The Group has established a Limit of Authority (LOA) matrix that clearly outlines Management limits and approval authority across various key processes such as Capital Structure, Mergers and Acquisition, Procurement, Corporate Finance, Account Receivable and Property Plant and Equipment. The LOA is duly approved by the Board and subject to regular review and enhancement to ensure it reflects changes in accountability and the risk appetite of the group.
Clear accountability and responsibility for key business processes have been established through the Group’s Business Process Manual and Subsidiaries Policy, both approved by the Board.
TM’s Code of Business Ethics (CBE), launched in 2004 and revised in 2010, supports the Company’s vision and core values by instilling, internalising and upholding the value of ‘uncompromising integrity’ in the behaviour and conduct of the Board of Directors, management, employees and all stakeholders of the Company.
All Executive Directors, management and employees are required to declare their assets and interest annually to provide an update on the value of individually or jointly owned assets.
TM’s Procurement Ethics was formally introduced in 2006, outlining the principles and specific requirements related to the procurement process. It supports the Procurement Red Book introduced by the Government and complements the TM Code of Business Ethics, which provides guidelines on dealing with employees, customers, business partners, competitors and other parties. It promotes greater transparency and accountability in the procurement process by adopting a clear disclosure policy and cultivates an ethical working environment that reduces graft, enables products to be purchased at competitive market prices and ultimately improves profitability.
TOP Project also aspires to create a mind-set shift among TM staff, by empowering them to question current processes, and bring about a continuous improvement culture. Staffs are encouraged to identify improvement opportunities and generate solutions to capture these. These solutions are rapidly tested in mini-pilots, and refined before being implemented across the organisation.
TM’s efforts to develop its workforce and create a workplace which enhances their well-being do not go unnoticed. At the national level, in 2011, it won the Outstanding Employee Awards for both Executive and Non-Executive categories from the Ministry of Human Resources, Malaysia. Internationally, TM received Asia’s Best Employer Brand Award in recognition of its efforts in:
• Creating a culture of contribution and innovation at work • Consistently improving HR policies by measuring organisational health and inculcating values that help to achieve its vision • Being a social employer
• Developing future leaders
TM complies with all applicable Occupational Safety, Health and...
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