King IV Sector Supplements - Public Commenting

Transcription

1 King IV Sector Supplements - Public Commenting Filled Monday, July 11, 2016 Page 1 Welcome to the official King IV Sector Supplement public commenting platform. After you have downloaded and reviewed the draft King IV Sector Supplements here [if this link does not open, please copy and paste the following into your browser: [ you will be able to enter your comments using this platform. This is the second phase of the public commentary process. Phase one invited comment on the whole of the King IV Report, bar the Sector Supplements. This platform will remain open in respect of phase 2 for two months from 11 May 2016 to 11 July 2016 Commenting terms and conditionsplease note that this process is open and transparent. All comments submitted will be available for public view at and NO anonymous comments are permitted. Comments received are added to the library for public viewing weekly together with the identity of the individual or organisation on behalf of whom the submission is made. Only comments submitted through this platform will be considered for the finalisation of the King IV Report. Do you agree to the King IV commenting terms and conditions? Yes

2 Page 2 Personal Details Section: *Title: Mr *First Name: De Wet *Last Name: Strasheim *I am commenting on behalf of: An organisation *Name of organisation: Mercedes-Benz South Africa Ltd *Capacity within organisation: Treasurer

3 Page 3 INTRODUCTION TO SUPPLEMENTS INTRODUCTION TO SUPPLEMENTS Add your comments on the Introduction to Supplements here: Mercedes-Benz South Africa Limited ( MBSA ) Submission of public comments on the proposed King IV sector supplements 1) Introduction MBSA takes note of the various sector supplements and agrees that certain sectors require customisation of the code to meet their various sector specific needs. MBSA is a 100% owned subsidiary of the Daimler AG ( DAG ), a foreign owned company situated in Stuttgart Germany. MBSA is listed on the Johannesburg Stock Exchange Debt Market. 2) Daimler AG, Stuttgart DAG is one of the world s most successful automotive companies. With its divisions Mercedes-Benz Cars, Daimler Trucks, Mercedes-Benz Vans, Daimler Buses and Daimler Financial Services, the Daimler Group is one of the biggest producers of premium cars and the world s biggest manufacturer of commercial vehicles with a global reach. Daimler Financial Services provides financing, leasing, fleet management, insurance, financial investments, credit cards, and innovative mobility services. The Group s focus is on innovative and green technologies as well as on safe and superior automobiles that appeal to and fascinate. DAG consequently invests in the development of alternative drive trains with the long-term goal of emission-free driving: from hybrid vehicles to electric vehicles powered by battery or fuel cell. Furthermore, the company follows a consistent path towards accident-free driving and intelligent connectivity all the way to autonomous driving. This is just one example of how DAG willingly accepts the challenge of meeting its responsibility towards society and the environment.

4 DAG sells its vehicles and services in nearly all the countries of the world and has production facilities in Europe, North and South America, Asia, and Africa. Its current brand portfolio includes, in addition to the world s most valuable premium automotive brand, Mercedes-Benz, as well as Mercedes-AMG, Mercedes-Maybach and Mercedes me, the brands smart, Freightliner, Western Star, BharatBenz, FUSO, Setra and Thomas Built Buses, and Daimler Financial Services brands: Mercedes-Benz Bank, Mercedes-Benz Financial, Daimler Truck Financial, moovel, car2go and mytaxi. The company is listed on the stock exchanges of Frankfurt and Stuttgart (stock exchange symbol DAI). In 2015, the Group sold around 2.9 million vehicles and employed a workforce of 284,015 people; revenue totalled billion and EBIT amounted to 13.2 billion. DAG has 2552 internal policies that govern its global network ensuring that all subsidiaries implement the international best practices which includes but is not limited to IFRS, Environmental Impact, Sustainability, Integrity, Compliance, Social Responsibility and Risk Management. 3) MBSA MBSA complies with the global policies of DAG and implements best practice whilst ensuring compliance with all local legislation. MBSA is committed to complying with both King IV and DAG policy. However in certain instances MBSA deviates slightly from the recommended practices due to the DAG global policies and position within the complex group structure. 4) Request and Recommendation MBSA therefore requests that an additional sector supplement be considered for subsidiaries of international global entities. It is further recommended that the proposed sector supplement creates the necessary latitude to reconcile recommended practices with the global policies of the holding company within the apply and explain application regime. SUPPLEMENT FOR MUNICIPALITIES SUPPLEMENT FOR MUNICIPALITIES Add your comments on the Supplement for Municipalities here:

5 SUPPLEMENT FOR NON-PROFIT ORGANISATIONS SUPPLEMENT FOR NON-PROFIT ORGANISATIONS Add your comments on the Supplement for Non-Profit Organisations here: SUPPLEMENT FOR RETIREMENT FUNDS SUPPLEMENT FOR RETIREMENT FUNDS Add your comments on the Supplement for Retirement Funds here: SUPPLEMENT FOR SMALL AND MEDIUM ENTERPRISES SUPPLEMENT FOR SMALL AND MEDIUM ENTERPRISES Add your comments on the Supplement for Small and Medium Enterprises here: SUPPLEMENT FOR STATE-OWNED ENTITIES SUPPLEMENT FOR STATE-OWNED ENTITIES Add your comments on the Supplement for State-Owned Entities here:

6 SURVEY QUESTIONS SURVEY QUESTIONS How much do you agree or disagree with the following statements, please give a reason for your answer. You may need to scroll to the right to see all the options, depending on the size of the screen you are using. Please provide comments supporting your rating and suggestions for enhancement. The Sector Supplements provide adequate guidance and explanation of how the recommended practices in the Code could be customised to meet the situational specifics of the various sectors The supplements illustrate the general approach to the application and interpretation of the Code in such a way that it enables users to formulate their own sound solutions to corporate governance challenges The King IV Sector Supplements connect and reconcile the King IV Code and legislation applicable in the particular sectors (No response) (No response) (No response) END Have you added all the comments you would like to add? If not please click on the section you would like to add comments to. Once you have done this you may return to this page and submit your comments.