Corporate Governance

Corporate Governance and Compliance

VIMTA is committed to high standards of corporate governance, business integrity and professionalism in all its activities.

We have a 'zero tolerance' policy in regard to breaches of ethics and all employees are required to sign on a code of conduct, oath of confidentiality and integrity, confirming their understanding that any breaches to the company’s code of conduct will result in disciplinary action that may include termination of concerned person’s employment.

A culture of integrity and honesty is driven by the Top Management to provide confidence to all employees to openly discuss challenges and issues.

Our philosophy on Corporate Governance

VIMTA’s Corporate Governance philosophy stems from the belief that Corporate Governance is a key element in improving efficiency and growth as well as enhancing investor confidence. Company also believes that good governance goes beyond regulatory requirement and has laid strong emphasis on transparency, accountability, responsibility, fairness, integrity, consistent value systems and delegation across all of its operations.

Role of Board of Directors

The Board is responsible for the proper management of the Company and is also accountable to the Company's shareholders for ensuring that principles of good corporate governance are applied. Our Board comprises a balance of Executive and Non-Executive Directors who bring to the table a wide range of skills and experience. The Board plays a vital role in corporate accountability by bringing in independent judgment to issues of strategy, performance, and risk management. They provide oversight on various risks the Company faces. The Board receives regular reports from

  • Company Secretary (on Corporate & legal Affairs)
  • CFO
  • Head of Human Resources
  • The Company’s independent auditor
  • Management (on Business and Quality Compliance).

The Board also has established an Audit Committee, Grievances Committee, Remuneration Committee and Risk Management and Compliance Committee (RMCC) in accordance with the provisions of local laws of Corporate Governance. Ultimately oversight of our risk management activities is one of the most important roles of the Board of Directors. The Board is dedicated and fully committed to its role in ensuring quality, compliance and effective risk management. While no risk management system can ever be absolutely complete, the goal is to make certain that identified risks are managed, monitored, reviewed and controlled within identified levels. The system not only enables resilience of business model but also drives continuous improvement that will add value to all stakeholders of the Company including its customers.