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Corporate governance report
The The United Basalt Products Limited
was incorporated as as as a a a a a a a a a a public company in in July 1953 The The shares of the Company have been listed on the the Official Market of of the the Stock Exchange of of Mauritius Ltd since 1989 The Company is is qualified as a a a a a a a a Public Interest Entity (“PIE”) under the Financial Reporting Act 2004 The Board of of of Directors acknowledges that the the the Code Code of of of Corporate Governance of of of 2016 (‘the Code’) sets out the the the best practices in in in terms of corporate governance and recognises that the the the principles under the the the Code have been applied within the the the Group as explained in in the report
1 PHILOSOPHY
The Board is committed to to to adhering to to to sound principles of of corporate governance to to to sustain the the pursuit of of the the Group’s strategic orientation aimed at at at building and sustaining long-term stakeholders’ value The corporate governance framework of the Group is illustrated below CORPORATE GOVERNANCE
CORPORATE GOVERNANCE
FRAMEWORK
Guiding principles Key Pillars
Transparency Integrity
Accountability
Adherence
to advocated principles rules and applicable regulations
Sound corporate governance structures and processes
The Group promotes ethical and and responsible decision-making as part of its corporate culture Beyond compliance
and and adherence to the the the law the the the Group is managed with with utmost integrity The Code of Ethics governs the the the relationship with with key stakeholders and sets out the professional and and ethical behaviour required by employees for both internal relations and and external interactions Setting the the the tone from the the the top is an an an important part of the the the Board’s role and helps to to to foster a a a a a a culture centred on on those guiding principles High levels of of trust together with a a a a a a a strong business reputation facilitate the the the operations of of the the the Group help attract and and and retain employees customers and and and suppliers contribute to to to the the the community in in which the the the Group operates and and and pave the the the way to to to confidently explore new business opportunities UBP INTEGRATED REPORT 2020
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FINANCIAL CAPITAL CORPORATE MANAGEMENT STATEMENTS REPORTS GOVERNANCE
APPROACH
ABOUT US INTRODUCTION
















































































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