Malakoff Corporation Berhad (Malakoff) organised a series of “Malakoff Vendors’ Awareness Day” commencing from the Northern Region at Sunway Hotel, Prai (23 October 2019), to the Southern Region at Kukup Golf & Country Resort, Pontian (31 October 2019) and ended in the Central Region at Menara Kembar Bank Rakyat, Kuala Lumpur (5 November 2019).

The event’s objective is to communicate the relevant aspects of Malakoff’s Procurement Transformation Process which aims to enhance the quality of its sourcing, improve process efficiency, increase the level of transparency and strengthen contract management.

The event saw the participation of approximately 1,000 vendors in total at all three locations.

In his opening remarks, En. Yusop Rashid, Vice President of Corporate Affairs and Stakeholder Management emphasized that the improvement in the procurement process will provide clarity to vendors, allow transparency and further enhance competition which will consequently eliminate any form of favouritism and make our procurement process more efficient.

Mr. Anthony Hiew, Head, Group Procurement, then led the session with a brief overview on Malakoff Group’s Anti-Bribery Policy, then moved on to the newly revised procurement process and procedure emphasizing on the importance of updated vendors’ details, payment process, as well as the new tender format and general terms and conditions. He also presented on the Company’s Contract Management requirements and documentation to the vendors, as failure to meet these compliance standards might result in disqualification.

The final part of the session was a demonstration of how Malakoff’s e-Auction system works, where vendors were guided with a step-by-step tutorial in navigating the system. Vendors were also encouraged to raise their queries and exchange ideas during the Question and Answer session.

The event proved to be beneficial to the vendors.

“Today’s session has been very informative especially on the I-Valua system as it is new and most of us have not had the chance to try it. When we first received it, we were baffled on how it should be applied but today’s session has most certainly cleared up some of the confusion”, said one of the participants, Mr. Cha Ming.

“It’s also great to see such initiative coming from Malakoff as this can further strengthen our working relationship, making communication between vendors and Malakoff much easier”, he added.