Boa
rd R espo
nsi
bililies
it is stated that the Board is primarily responsible for the governance of the Corporation" setting the policies for the accomplishment of the corporate objectives, it shall provide an independent check on Management. lt is the Board's responsibility to foster the long-term success of the Corporation and secure its sustained competitiveness and profitability in a manner consistent with its corporate Under the Manual,
Corollary
to
objectives and the best interest of its stockholders. The Board should formulate the Corporation's vision, mission, strategic objectives, policies and procedures that shall guide its activities, including the means to effectively
monitor Management's performance. Treatment of Shareholders The Board shall respect the rights of the stockholders as provided for in the Corporation Code, namely their: voting rights, power inspection, right to information, right to dividends, appraisal right, and adoption of grievance procedure. Disclosure Duties The Company shall provide timely, accurate, consistent, complete and fair disclosure of material information to enable investors to make informed and orderly market decisions. Material information refers to anything that could potentially affect the Company's share price including earning results, acquisition and disposal of assets, changes in the composition of the Board, related party transactions, shareholdings of directors, and changes to ownership. Other information that shall always be disclosed includes remuneration (including stock options), corporate strategy, and off-balance sheet transactions. Commitments to principal stakeholders The following commitments to principal stakeholders were lifted from the Company's Code of Ethics: Customers
o o o
To create, develop, and sustain fair and long-lasting relationships with our customers. To understand our customers' business objectives and appreciate their unique needs in order to respond to them in a timely, effective, and satisfactory manner. To deliver high-quality products and services in accordance with agreed specifications and expectations"
Employees
o
To develop and maintain a safe, healthy, challenging, rewarding, participative, and fair working environment for all our people.
.
To utilize the futl talents and expertise of our people through effective selection, mentoring,
and
development.
o
To offer career opportunities to qualified employees regardless of gender, belief, ethnic or regional origin, and physical condition.
Shareholders
o o _
To make business decisions whose overriding objective is to increase long-term shareholder value.
To maximize returns on investment by maintaining efficient and productive operations and
using
resources judiciously.
Suppliers
o o r
To create, develop and sustain mutually-beneficial and long-term relationships with our suppliers.
To engage suppliers who will promote efficiency and quality to the benefit of all parties. To work only with those suppliers whose principles, policies, and practices are compatible with our own.
