Purchasing Policy

Transparency

• The purchasing activities shall be opened and transparent across all stages of the life cycle.
• Purchasing activities shall be managed professionally and ethically in a manner that is consistent with best practices. Any confidential information, internal and external entrusted information, shall be strictly protected and only be used for the purpose for which it intended to be used.

Competition

• An open and competitive environment will encourage vendors to give their best offers. Vendors shall be given equitable access opportunities to compete on a level playing field.
• The competition between vendors tends to result in lower prices for the Group. All sourcing processes must comply with the minimum competitive bidding requirement in the standard. However, it has to be noted that in certain nature of purchase items or services, price shall not be the only primary factor for awarding purpose.
• All vendors shall be treated fairly and shall have equitable access to the Group’s information or clarification. In particular, quotations received from one vendor/supplier shall not be revealed to a competing vendor.

Value for Money

• Goods or services shall be purchased from sources that can best meet the requirements and offer the best value.
• Value for money is defined as the optimum combination cost and quality (or Total Cost of Ownership “TCO”) of the goods or services to meet the user’s requirement. Hence, value for money does not necessarily mean the lowest price.

Vendor Code of Conduct

The Vendor Code Of Conduct (hereafter “VCOC”) applies to the Group’s vendors/suppliers of goods or services (hereafter “vendors”). The VCOC defines the Group’s expectations and requirements of its vendors, and the responsibility of vendors towards their stakeholders and the environment. The Group may modify the VCOC as required, and vendors are expected to accept these additional obligations, requirements or changes and shall continually improve, to the extent they can adhere to, or exceed these standards on a corporate and social level. Vendors who violate or fail to comply with the VCOC will be reported immediately and may face serious disciplinary action and/or penalty measures including termination of contract and blacklisting of vendors/suppliers from providing goods or services to the Group.

We will consider these principles in our selection of Suppliers and will actively monitor their
compliance:

a) Legal requirement and compliance

• Vendors must comply with the laws and regulations of the applicable jurisdictions.

b) Anti-corruption, bribery or illegal payments

• Vendors must not engage in any form of corruption or bribery or kickbacks, including any payment or other forms of benefit conferred on any government officials, civil servants or political parties for the purpose of improperly influencing decision making.

c) Gift and entertainment

• Vendors are not allowed to offer or exchange gifts and entertainments with the Group’s employees as the Group is committed to working with the highest standards of integrity. This is to prevent any conflicts of interest, or appearance of such in our business dealings.

d) Conflict of interest

• Vendors must disclose any information that may raise possible conflict of interests. For example, a relationship (including family members, partner or close friends) with an employee of the Group.

e) Labour practices and human rights

• Vendors must ensure strict compliance with all applicable labour and employment laws and regulations.
• Vendors must promote equal opportunities and treatment of their employees.
• Vendors must respect the personal dignity, privacy, and rights of each individual.
• Vendors must not employ or force anyone to work against his or her will.

f) Confidentiality and Protection of Personal Data

• Vendors must keep all data or information shared by the Group confidential at all times (during and after the business relationship).
• Vendors must not share such data and information with third parties unless an official written consent is provided by the Group.
• In all instances where the Group’s confidential information is to be disclosed to a vendor, or other external party, it is mandatory to execute a Non-Disclosure Agreement (“NDA”) prior to disclosure, in order to protect the Group’s information and interests and those of its customers.
• Vendors shall comply with all applicable laws, rules and regulations relating to confidentiality, secrecy as well as protection of personal data and privacy.

g) Employee health and safety

• Vendors must take reasonable steps to provide control hazards and a safe working condition when engaging with AEON Credit.
• Vendors must take precautionary measures against accidents and occupational diseases.

h) Environmental protection

• Vendors must comply with all applicable environmental regulations and laws.
• Vendors should minimise environmental pollution and continuously strive to protect the environment.

i) Lawful Competition

• Vendors should not discuss prices, distribution practices, customers, product development, and use of vendors or Group plans or activities with a competitor and should adhere to all applicable laws and regulations relating to competition or anti-trust.