| Statement of General Business Principles |
These Business Principles, which have the full support of the TPP Board, will be the basis on which Taiwan Polypropylene Company (TPP) will conduct its business. They apply to all of us when acting on behalf of any of the Taiwan Polypropylene Company (TPP) companies, in our dealings with third parties or as part of the internal decision making process.
It is by living up to these high standards will be able to establish a reputation, not only of technological excellence and customer focus, but also of honesty and integrity. This reputation in turn must be one of the cornerstones of the success of our business and must be protected and cherished. Even a single unintended failure to comply with these standards can seriously harm our company.
The proclamation of these principles can only be the beginning, and I am looking to all of you to be the bearer of this flag under which we wish to conduct our business. It will be the responsibility of management to ensure that all our staff are aware of these principles and comply with them so that these Business Principles are upheld and can be recognized in all our actions.
Bowei Lee
Taiwan Polypropylene Company
October 2006
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| Mission |
The mission of Taiwan Polypropylene Company (TPP) is to be the most successful polypropylene company by measurably enhancing our customers' performance through fulfilling their needs and responsibly applying our world-wide assets: people, technology and expertise. Taiwan Polypropylene Company (TPP) seeks a high standard of performance and aim to maintain a long term position in their respective competitive environments. |
| Responsibilities |
| Five areas of responsibility are recognised: |
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(a)To shareholders |
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To protect shareholders' investment and provide an acceptable return. |
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(b)To customers |
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To win and maintain customers' support by developing and providing products and services which offer value in terms of price, quality and safety, and which are supported by the requisite technological, environmental and commercial expertise. |
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(c)To employees |
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To provide all employees 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; and to encourage the involvement of employees in the planning and direction of their work, and in the application of these principles within their company. It is recognised that commercial success depends on the full commitment of all employees. |
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(d)To Suppliers |
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To built up good relations with suppliers base on win-win relationship and our Business Principles. |
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(e)To society |
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To conduct business as responsible corporate members of society, observing applicable laws of the countries in which they operate and giving proper regard to health, safety and environmental standards. |
| These five areas of responsibility are seen as inseparable. Therefore it is the duty of management continuously to assess the priorities and discharge its responsibilities as best they can on the basis of that assessment. |
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| Economic Principles |
Profitability is essential to discharging these responsibilities and staying in business. It is a measure both of efficiency and of the ultimate value that people place on TPP products and services.
It is essential to the proper allocation of corporate resources and necessary to support the continuing investment required to develop and produce new products to meet consumer needs. Without profits and a strong financial foundation it would not be possible to fulfill the responsibilities outlined above.
Taiwan Polypropylene Company (TPP) work in a wide variety of social, political and economic environments over the nature of which they have little influence, but in general they believe that the interests of the community can be served most efficiently by a market economy.
Criteria for investment decisions are essentially economic but also take into account social and environmental considerations and an appraisal of the security of the investment. |
| Business Integrity |
Taiwan Polypropylene Company (TPP) insists on honesty, integrity and fairness in all aspects of their business and expects the same in their relationships with their contractors and suppliers.
The direct or indirect offer, payment, soliciting and acceptance of bribes in any form are unacceptable practices.
All employees are required to avoid conflicts of interest between their private financial activities and their part in the conduct of company business.
All transactions on behalf of a Taiwan Polypropylene Company (TPP) must be appropriately described in the accounts of the company in accordance with established procedures and be subject to audit. |
| Political Activities |
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(a)Companies |
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Taiwan Polypropylene Company (TPP) endeavour always to act commercially, operating within existing national laws in a socially responsible manner, abstaining from participation in party politics and interference in political matters. It is, however, their legitimate right and responsibility to speak out on matters which affect the interests of their employees, customers and shareholders, and on matters of general interest where they have a contribution to make based on particular knowledge. |
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(b)Employees |
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Where employees, in their capacity as citizens, wish to engage in activities in the community, including standing for election to public office, favourable consideration is given to their being enabled to do so where this is appropriate in the light of local circumstances. |
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| Health, Safety and the Environment |
It is the policy of Taiwan Polypropylene Company (TPP) to conduct their activities in such a way as to take foremost account of the health and safety of their employees and of other persons, and to give proper regard to the conservation of the environment. Taiwan Polypropylene Company (TPP) pursues a policy of continuous improvement in the measures taken to protect the health, safety and environment of those who may be affected by their activities.
Taiwan Polypropylene Company (TPP) establishes health, safety and environmental policies, programmes and practices and integrates them in a commercially sound manner into each business as an essential element of management. |
| The Community |
The most important contribution that companies can make to the social and material progress of the countries in which they operate is in performing their basic activities as efficiently as possible.
In addition the need is recongnized to take a constructive interest in societal maters which may not be directly related to the business. Opportunities for involvement – for example through community, educational or donations programmes – will very depending upon the size of the company concerned, the nature of the local society, and the scope for useful private initiatives. |
| Competition |
Taiwan Polypropylene Company (TPP) support free enterprise. They seek to compete fairly and ethically and within the framework of applicable competition laws; they will not prevent others from competing freely with them. |
| Communication |
Taiwan Polypropylene Company (TPP) recognises that there is a need for open communication. To this end Taiwan Polypropylene Company (TPP) have comprehensive corporate information programmes concerning their activities and provide full relevant information about their activities to legitimately interested parties, subject to any overriding considerations of business confidentiality and cost. |
