Anti-Money Laundering (AML) Policy

Purpose

Planters International Berhad ("Planters") is committed to conducting business with integrity, transparency, and accountability.

This Anti-Money Laundering (AML) Policy establishes the principles and measures adopted by the Company to reduce the risk of money laundering, terrorist financing, fraud, and other financial crimes within its operations and business relationships.

Planters is committed to conducting business only with legitimate clients, suppliers, partners, and other stakeholders while complying with applicable laws and recognised good governance practices.

Scope

This Policy applies to:

  • Members of the Board of Directors

  • Employees

  • Consultants

  • Contractors

  • Interns

  • Agents

  • Suppliers

  • Business partners where applicable

All persons acting on behalf of Planters are expected to support the objectives of this Policy.

Policy Statement

Planters maintains a zero-tolerance approach towards activities involving:

  • Money laundering

  • Terrorist financing

  • Fraudulent transactions

  • Proceeds of crime

  • Sanctions evasion

  • Financial misconduct

The Company will take reasonable measures to understand its business relationships and reject any transaction that appears unlawful, suspicious, or inconsistent with legitimate business activities.

Business Relationships

Planters seeks to conduct business only with reputable organisations and individuals.

Where appropriate, reasonable due diligence may be performed before entering into significant commercial relationships.

This may include:

  • Verification of legal business entities.

  • Confirmation of business ownership or authorised representatives.

  • Understanding the nature of the proposed engagement.

  • Assessment of reputational or compliance risks.

Customer & Partner Due Diligence

Depending on the nature of the engagement, Planters may request information necessary to establish the legitimacy of business relationships.

This may include:

  • Company registration details.

  • Business addresses.

  • Authorised representatives.

  • Tax or regulatory information where appropriate.

  • Nature of business activities.

The level of due diligence should be proportionate to the level of identified risk.

Financial Transactions

The Company expects all financial transactions to be:

  • Legitimate.

  • Transparent.

  • Properly documented.

  • Supported by valid commercial purposes.

  • Approved through appropriate internal procedures.

Planters generally prefers payments made through recognised financial institutions using traceable banking channels.

Cash transactions should be minimised wherever reasonably practicable.

High-Risk Transactions

Additional scrutiny may be appropriate where transactions involve:

  • Unusual payment arrangements.

  • Payments from unrelated third parties.

  • Complex ownership structures.

  • Requests for payments to different jurisdictions without reasonable justification.

  • Transactions lacking a clear commercial purpose.

  • Unusual urgency without explanation.

Where concerns cannot be satisfactorily resolved, the Company may decline to proceed with the transaction.

Record Keeping

Planters maintains appropriate records relating to:

  • Contracts

  • Invoices

  • Payments

  • Procurement

  • Financial approvals

  • Supporting documentation

Records should be retained in accordance with applicable legal requirements and the Company's document retention practices.

Reporting Suspicious Activities

Anyone who becomes aware of suspicious financial activities, suspected fraud, or potential money laundering should report the matter promptly through the Company's internal reporting channels.

Reports will be handled confidentially and fairly.

Where appropriate, Planters may consult legal or regulatory authorities.

Responsibilities

The Board of Directors and Management are responsible for promoting a culture of integrity and ensuring that reasonable measures are in place to identify and manage financial crime risks.

Employees are responsible for:

  • Remaining alert to suspicious activities.

  • Following Company procedures.

  • Reporting concerns promptly.

  • Cooperating with internal reviews or investigations.

Training & Awareness

Planters is committed to promoting awareness of financial crime risks through appropriate communication, training, and periodic policy reviews where relevant.

Breaches of this Policy

Failure to comply with this Policy may result in:

  • Corrective action

  • Disciplinary action

  • Termination of employment or engagement

  • Termination of business relationships

  • Referral to relevant authorities where appropriate

  • Legal action where applicable

Policy Governance

This Policy forms part of the Corporate Governance Framework of Planters International Berhad.

The Company will review this Policy periodically to ensure it remains aligned with applicable laws, regulatory developments, and recognised governance practices.

Planters reserves the right to amend or update this Policy from time to time.

Related Policies

This Policy should be read together with the Company's:

  • Corporate Governance Framework

  • Code of Conduct

  • Anti-Bribery & Anti-Corruption Policy

  • Whistleblower Policy

  • Supplier Code of Conduct

  • Privacy Policy