The objective of Sumatec Resources Berhad's petroleum business is to develop and produce oil and gas and to develop other energy resources. The Company aims to create value for its shareholders through organic growth, while operating in an economically, socially and environmentally responsible way for the benefit of all its stakeholders.
Internal governance instruments and practices such as the Code of Conduct and the Rules of Procedure of the Board, will evolve, following internal developments as well as changes to applicable legislation, stock exchange rules and other regulations.
Sumatec Resources Berhad adheres to principles of corporate governance found in both internal and external rules and regulations of the country we operate in.
Articles of Association
Sumatec Resources Berhad's Articles of Association, which form the basis of the governance of the Company's operations, set forth the Company's name, the seat of the Board, the object of the business activities, the shares and share capital of the Company and contain rules with respect to the Shareholders' Meetings.
Code of Conduct
Sumatec Resources Berhad's Code of Conduct is a set of principles formulated by the Board to give overall guidance to employees, contractors and partners on how the Company is to conduct its activities in an economically, socially and environmentally responsible way, for the benefit of all its stakeholders, including shareholders, employees, business partners, host and home governments and local communities. The Company applies the same standards to its activities worldwide to satisfy both its commercial and ethical requirements and strives continuously to improve its performance and to act in accordance with good oilfield practice and high standards of corporate citizenship.
Policies, Guidelines & Procedures and Management System
While the Code of Conduct provides Sumatec Resources Berhad ethical framework, dedicated policies, guidelines and procedures have been developed to outline specific rules and controls applicable in the different business areas. The Company has policies, guidelines and procedures covering, for example, Operations, Accounting and Finance, Corporate Responsibility (CR) including Health, Safety and Environment (HSE) and Anti-Corruption, Legal, Information Systems, Human Resources and Corporate Communications. The policies, guidelines and procedures are reviewed on a continuous basis and are modified and up-dated as and when required. Some of these documents can be found on this website, whereas others are only available internally.