Related Party Transactions Policy
Any contract, agreement, transaction, arrangement, or dealing of the Corporation with a director, officer, or any related party (each such transaction, a “Related Party Transaction”) shall be entered into by the Corporation on an “arm’s length basis,” and under such terms that inure to the benefit and best interest of the Corporation and its shareholders as a whole, considering relevant circumstances. All Related Party Transactions shall be reviewed and approved by the appropriate approving authority, as may be determined by the Board. Material Related Party Transactions or those which involve an amount or value equal to or greater than Twenty Million Pesos (Php20,000,000.00) in a given month shall be submitted for the approval of at least a majority of the Board.
“Related party transactions” means a transfer of resources, services, or obligations between the Corporation and a Related Party, regardless of whether a price is charged. These also include outstanding transactions that are entered into with an unrelated party that subsequently becomes a Related Party.
Health and Safety Policy
Download the SSI's Health and Safety Policy HERE.