Here at Ulement we take privacy seriously and will only use your personal information to administer your account.

Our website address is: https://ulement.com

This Notice is issued by us pursuant to the Personal Data Protection Act 2010 (“PDPA 2010”) to explain the type of personal data we collect, the way we use and process your personal data and how you may exercise your legitimate rights in relation to your personal data with us. The PDPA 2010 confers safeguards against abuse and unwanted disclosure of the personal data of data subjects (such as yourself) by data users.Your personal data may have been collected, used or processed by us because you are:

  • an individual guarantor or would be an individual guarantor for our underwriting obligations;
  • a director, staff, or an individual shareholder of, or an individual otherwise associated with, our existing or would be obligors and security parties in relation to our underwriting obligations;
  • a director, staff, or an individual shareholder of, or an individual otherwise associated with,an applicant in relation to, our underwriting services;
  • a director, staff, or an individual shareholder of, or an individual otherwise associated with, our existing or potential vendors or suppliers of services; and
  • an individual whose personal data is necessary or required for our financial guarantee insurance business, or has been made available to us or has come to our knowledge in the course of conducting our business as financial guarantee insurers.

When you or a corporation in which you are a director, staff, individual shareholder or to which you are otherwise associated:

  • instruct us or apply to us to provide financial guarantee insurance, or some other service or in any way act, for you or the corporation; or
  • in any way provide or supply or intend to provide or supply goods and services to us,

we may need to, or may collect, record, hold, store, use and/or carry out any operation (including organising, consulting on or disclosing) on personal data of individuals within or outside your corporation or group of corporations, including shareholders, directors, managers, secretaries, auditors, accountants, staff,guarantors of the corporation or otherwise associated with you or the corporation.

All such foregoing individuals are referred to as data subjects in this Notice. Whatever the circumstances be under which we hold your personal data, your relationship is important to us and we would take the measures necessary to safeguard and protect your personal data and maintaining the confidentiality, security and integrity of your personal data collected, processed and held by us.

We can ensure the confidentiality, security and integrity of your personal data as we observe stringent physical, electronic, and procedural safeguards in all our standard operating procedures. In addition, our staff are well trained in the proper handling of data subjects’ personal data. Any third party who may assist us in processing your personal data are qualified for the purpose, trained and are under a duty of confidentiality to us which requires them to strictly protect the confidentiality, security and integrity of your personal data.

Types of Personal Data We Collect and Process

We only collect and process personal data that we believe to be relevant and are required to conduct our business with you or your corporation. Such data may include information concerning your personal details such as:

Name, national registration identification card number, passport number, photograph, e-mail address, postal address, age, telephone number, mobile telephone number, employment details and history including details of present and past employment and income, bank account details, gender, nationality, names of relatives and how related including personal and contact details of such relatives, skills, languages, education, or other related qualifications, achievements, ethnic origin, details of referees, commission or alleged commission of offences, directorship in companies, shareholding in companies, assets, involvement in legal proceedings including details of such legal proceedings, details of loans and other financial transactions, solvency, financial status, ownership of property, car registration details and all other related information necessary and incidental for the purposes of our operations.

How Do We Use Your Personal Data

Your personal data is used by us for one or more of the following purposes:

  • to carry out our financial guarantee insurance business;
  • to evaluate and monitor credit worthiness;
  • to establish a relationship between you and us;
  • for the enforcement of the obligations of other parties to us and/or our affiliates;
  • to meet legal and regulatory requirements;
  • for risk management;
  • for such other purposes as permitted by law or with your consent;
  • for the purpose of enforcing our legal rights and/or obtaining legal advice;
  • for investigating, reporting, preventing or otherwise in relation to the breach of secrecy/confidential information, fraud, money laundering, terrorist financing and criminal activities generally;
  • for making enquiries or investigations as to whether or not the person whose data is collected, used and/or processed by us is a sanctioned person, or is otherwise howsoever related to, or associated with, a sanctioned person or entity; and also for the reporting or the taking of any remedial or preventive action in relation to it;
  • o disclose to any person to whom we are under an obligation to make disclosures under the law or under and for the purposes of any standards or guidelines issued by regulatory or other authorities;
  • to disclose to such parties as may be permitted under Malaysian law; and
  • for all other purposes which are incidental or associated with any of the above purposes.

Your personal data may be stored or transferred to locations and systems inside or outside Malaysia but always subject to appropriate controls over information security and for any of the purpose stated herein.

Your Right to Access to Your Personal Data with Ulement

Under the PDPA 2010, you have the right of access to your personal data upon payment of a prescribed fee and you may write to us and request to access, check and correct your personal data held by us.

Your Right to Provide or not to Provide Personal Data

You retain the ultimate discretion, at any time, to make the decision to provide us your personal data or to revoke your consent given for Ulement to process your personal data. If you do revoke your consent, we shall not process your personal data in respect of any application or transaction without your consent.

However, please note that it is necessary for us to process your personal data for any agreed purposes. Failure to provide such personal data may result in us being unable to provide the services or facilities that you have requested from us.

Third Party Data Processors

Your personal data may be disclosed to the third parties within Ulement or outside our group who are collecting, recording, holding, storing or processing your personal data on our behalf, and do not process the personal data for any of their own purposes. Such third parties include external actuaries and external auditors.

Retention of Personal Data

All practical steps will also be taken by us to ensure your personal data will not be kept longer than statutorily necessary or for the purpose for which it was collected, whichever is longer. Ulement will comply with all relevant statutory and regulatory requirements in Malaysia concerning the retention of personal data.

Changes to this Privacy Notice

Ulement reserves the right to review and amend this Notice from time to time and will place notice of such amendments on the Ulement’s website at https://ulement.com or via any other mode Ulement views suitable to reflect the changes in law and business practices. We would advise you to obtain the latest version of our Notice by contacting us or visiting our website to ensure that you are familiar with the latest version. Further, by using our services or omitting to withdraw your consent after communication of our latest Notice, you are deemed to have accepted and consented to the amendments contained therein.

This notice was last updated in May 2018.

How to contact us:

We trust that you would have benefitted from the information and clarifications in this Notice. If you require more information, or would like to raise any concerns about this Notice, you may e-mail us at [email protected]

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