General Business Principles

  • Purpose
  • The objectives of PolyMirae are to engage efficiently, responsibly and profitably in polyolefins and other
    selected businesses. PolyMirae seeks a high standard of performance and maintains a long-term position
    in its competitive environment.
1. Responsibilities
  • PolyMirae recognizes five areas of responsibility:
  • 1. To shareholders

    To protect shareholders’ investment and provide an acceptable return.

  • 2. To customers

    To win and maintain customers by developing and providing products and services which offer value in terms of price,
    quality, safety and environment impact, which are supported by the requisite technological, environmental and expertise.

  • 3. To employees

    To respect the human rights of our employees, to prohibit forced labor and child labor, and to provide them with good
    and safe conditions of work, and good and competitive terms and conditions of service, to promote the development and
    best use of human talent and equal opportunity employment without discrimination, and encourage the involvement of
    employees in the planning and direction of their work, and in the application of these principles within the company, and
    ensure employees’ freedom of association and collective bargaining.
    It is recognized that commercial success depends on the full commitment of all employees.

  • 4. To those with whom they do business

    To seek mutually beneficial relationships with contractors, suppliers and in joint ventures and to promote these
    principles in so doing. The ability to promote these principles effectively will be an important factor in the decision
    to enter or remain in such a relationship.

  • 5. To society

    To respect human rights, contribute to health, safety and the environment, comply with the laws of the countries in
    which we operate, practice ethical management, and act as a responsible company for
    the sustainable development of the community.

  • These five areas of responsibility are seen as inseparable. Therefore, it is the duty of the management and
    all employees continuously to assess the priorities and discharge its responsibilities as best it can on the
    basis of that assessment.
2. Economic Principles
  • Profitability is essential to discharging these responsibilities and staying in business. It is a measure both of
    efficiency and of the value that customers place on PolyMirae products and services. It is essential to the
    allocation of the necessary corporate resources and to support the continuing investment required to develop
    and produce materials to meet customer needs. Without profits and a strong financial foundation,
    it would not be possible to fulfill the responsibilities outlined above.
  • PolyMirae works in a wide variety of changing social, political and economic environments, but in general
    it believes that the interests of the community can be served most efficiently by a market economy.
    Criteria for investment decisions are not exclusively economic in nature but also take into account social and
    environmental considerations and an appraisal of the security of the investment.
3. Business Integrity
  • PolyMirae insists on honesty, integrity and fairness in all aspects of its business and expects the same in its
    relationship with all those with whom it does business. The direct or indirect offer, payment, soliciting and
    acceptance of bribes in any form are unaccountable practices. Employees must avoid conflicts of interest
    between their private financial activities and their part in the conduct of company business.
  • All business transactions on behalf of PolyMirae must be reflected accurately and fairly in the accounts of the
    company in accordance with established procedures and be subject to audit.
4. Political activities
  • 1. Of company

    PolyMirae acts in a socially responsible manner within the laws of the countries in which they operate in pursuit
    of their legitimate commercial objective. PolyMirae does not make payments to political parties, organizations or
    their representatives or take any part in party politics. However, when dealing with governments, PolyMirae has the
    right and responsibility to make its position known on any matter which affects itself, its employees, its customers
    or its shareholders. PolyMirae also has the right to make its position known on matters affecting the community,
    where it has a contribution to make.

  • 2. Of employees

    If an individual PolyMirae employee wishes to engage in activities in the community, including standing for
    election to public office, they will be given the opportunity to so where this is appropriate in the light of local
    circumstances.

5. Health, Safety and the Environment
  • Consistent with its commitment to contribute to sustainable development, PolyMirae has a systematic
    approach to health, safety and environmental management to achieve continuous performance improvement.
    To this end PolyMirae manages these matters as any other critical business activity, set targets for
    improvement, and measure, appraise and report performance.
6. Support for the
Community
  • The most important contribution that PolyMirae can make to the social and industrial development of the
    countries in which they operate is in performing their basic activities as effectively as possible.
  • PolyMirae also takes a constructive interest in social issues that may not be directly related to its business.
    Opportunities for involvement, for example through community, educational or donations programs,
    will vary depending on the company’s circumstances, the nature of the community, and the scope for
    useful private initiatives.
7. Competition
  • PolyMirae supports free enterprise. It seeks to compete fairly and ethically and within the framework
    of applicable competition laws; it will not prevent others from competing freely with it.
8. Communication
  • PolyMirae recognizes that in view of the importance of activities in which it is engaged and its impact
    on national economies and individuals, open communication is essential. To this end,
    PolyMirae has comprehensive corporate information programs and provides full relevant information
    about its activities to legitimately interested parties, subject to any overriding considerations of
    business confidentiality and cost.
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