The integrity and accountability of an organization must be upheld as they are vital in the endeavor to progress.
“Ensuring fair & healthy business environment is essential for our efficiency and in maintaining confidence of our stakeholders, potential investors and the public,” stressed SEDCO Chairman, Dato Sri Hj Nasir Tun Sakaran at the SEDCO Group Chairmen & Chief Executive Officers Meeting held at a leading hotel here on January 28, 2013.
According to Nasir, SEDCO along with several other GLSc in the State, in July last year, had signed the Corporate Integrity Pledge (CIP), an NKRA initiative under the Malaysia Anti-Corruption Comission (MACC) to help accelerate the attainment of the Government’s Transformation program.
The signing of the pledge was SEDCO’s initial step in a long-term program to create an effective system to increase integrity in the organization through implementation of good governance including measures to curb negative elements such as corruption and abuse of power. Nasir urged all subsidiaries to give their full commitment to the program once it is extended to the group in view of the importance of those aspects in the companies’ pursuit for profit and business growth.
Acknowledging the big responsibility and challenge of steering an established agency like SEDCO with a significant number of subsidiaries and investment in various sectors, Nasir said he placed his trust in all the chairmen and chief executives to exercise their prerogatives and freedom to decide and act for the well being and benefit of their respective companies.
Nasir however reminded that such autonomy must be exercised with full regard for SEDCO’s existence as parent agency and their obligation as a subsidiary companies.
“In whatever you do, please always be mindful of the interest of SEDCO and the State,” said Nasir adding that the Management of companies should refer to or keep SEDCO well-informed on any important development or major decision affecting their respective companies.
Touching on the Group performance, he advised companies not to be complacent registering similar result each year instead should strive harder to improve position. “Profitable companies should intensify efforts to achieve higher earnings while loss-making ones must do their utmost to return in the black and improve further,” urged Nasir.
Meanwhile, SEDCO Group General Manager, Pengiran Saifuddin Tahir disclosed that the Group recorded a better pre-tax profit of RM58.3m in 2013 as compared to previous year despite the turnover remained on a declining trend due to the challenging economic climate.
Saifuddin who took over as SEDCO head last December said the SEDCO Group with its multi-sectoral activities had significant intra business opportunities that should be tapped by its members. He suggested more discussions amongst the companies to find ways to complement and support each other activities so as they can grow together.
Also present at the meeting was Permanent Secretary to the Ministry of Industrial Development, Datuk Hj Hashim Paijan.