Doing Right
Ethical Business Practices
Code of Business Conduct
Our Code of Business Conduct (CBC) outlines expectations for employees in relation to issues such as fraud, bribery, conflicts of interest, anti-money laundering, anti-competitive conduct, violations of human rights, harassment, health, safety, and the environment. It directs employees to consult their Heads of Departments or Human Resource representatives in case of queries or issues. All employees are required to review and affirm their compliance with the CBC annually. All employees and directors undergo mandatory onboarding sessions that include training on the CBC, ensuring a shared understanding of UOL’s commitment to ethical governance.
All employees and directors undergo mandatory onboarding sessions that include training on the CBC, ensuring a shared understanding of UOL’s commitment to ethical governance.
In 2024, 100% of UOL employees and Board members were trained on the CBC.
Human Rights
UOL values our employees, and ensures processes are kept in place to safeguard them. This is reflected in the diversity and inclusivity in our workforce and implemented workplace health and safety measures. The Group does not knowingly engage in any activity that involves child or forced labour or human rights abuses. The Group’s CBC sets the ethical and professional standards for all employees, who are required to obey and comply with all applicable laws and regulations in the countries where we operate. All employees are required to declare their compliance with the CBC annually and undergo regular training.
The Group is already subject to the Prevention of Human Trafficking Act 2014 (Singapore Statutes). There is a whistle-blowing policy for employees and other parties to report on infringement of the CBC or any other laws, regulations, policies and processes, which would include applicable slavery and human trafficking laws in the relevant jurisdictions. UOL expects our contractors and suppliers to comply with all relevant laws and regulations, including applicable labour-related slavery and human trafficking laws in the relevant jurisdictions. We do not knowingly engage any contractors and suppliers in breach of these laws.
In 2024, UOL developed a Supplier Code of Conduct (SCOC) for the Group and all subsidiaries, which outlines the Group’s guiding principles for ethical and sustainable practices for suppliers, service providers and main contractors. In the SCOC, the Group expresses our expectations for suppliers to promote fair treatment, create an inclusive workplace, and work to prevent any form of exploitation while the Group adheres to the same standard of human rights. We re-emphasise our unwavering promise not to engage in any form of modern slavery and to strive to maintain an inclusive workplace free from harassment and discrimination across our operations and supply chain.
UOL is committed to protecting the principles of human rights, including those pertaining to child labour, forced labour and human trafficking in its employment on an international level. We also practise fair and inclusive hiring processes and are guided by the Tripartite Guidelines on Fair Employment Practices (TGFEP) provided by the Tripartite Alliance for Fair and Progressive Employment Practices (TAFEP), which is established by the Ministry of Manpower, Singapore National Employers Federation and National Trades Union Congress.
In 2024, there were no reported cases of discrimination or violations of human rights.
Whistle-blowing Policy
UOL has in place a whistle-blowing policy to provide a channel that encourages employees and external parties dealing with employees to report, in good faith and confidence, concerns about possible fraud, improprieties in financial reporting, and other matters. This policy contains clear provisions on the protection of whistle-blowers. The Head of the Group Internal Audit is responsible for investigating any concerns raised and reporting findings to the ARMSC, independent of Management. His contact details are disclosed on the corporate website.
In 2024, UOL recorded zero significant whistle-blowing cases related to fraud or corruption, reflecting the effectiveness of its governance and compliance measures. Periodic reviews of the whistle-blowing mechanism are conducted to ensure it remains robust and accessible.