132 FGV HOLDINGS BERHAD ABOUT FGV MANAGEMENT DISCUSSION & ANALYSIS VALUE CREATION BOARD GOVERNANCE & RISK MANAGEMENT COMMITTEE REPORT Further details of the BGRMC’s ToR are published on our website at www.fgvholdings.com. This Report should be read in conjunction with our CG Report, also available on our website. Others • Review any reporting of matters to the shareholders and/or relevant authorities and statements for inclusion in the Company’s Annual Integrated Report as well as other statements which are mandated by Bursa Malaysia or related to governance and risk management • Ensure that the results of audit on corruption-related matters, reviews of risk assessment, control measures and performance are reported to the Board and acted upon (for corruption related matters, it shall be reported to the Board immediately upon conclusion of the audit and to update the Board more frequent. For high risk or sensitive red flag issues, material changes in situations which result in increased corruption risks, outcomes of investigations, etc. it shall be reported to the Board immediately upon conclusion of the audit and to update the Board every quarter) • Highlight to the Board on every quarter, the Group’s key risk indicators and risk tolerance levels, and the mitigation plans • Undertake any such other functions as may be determined by the Board from time to time The composition of the BGRMC for FY2021, including the name, designation together with the number of BGRMC meetings held during FY2021 and details of attendance of each BGRMC member can be found on page 85 of this Report. GOVERNANCE, ETHICS AND INTEGRITY a. Reviewed: • Revision to Board Policy Approval Matrix and Governance Policy & Procedures • Revision of Group Human Capital policies • Establishment of COVID-19 & Its Variants Vaccination Policy • Establishment of IT Security Framework • Status of compliance to MCCG • Plans on governance activities for the year 2022 and completed initiatives b. Briefed on: • Outcomes of internal Anti-Bribery Audit and SIRIM Surveillance Audit • Integrity Assessment Tool (IAT) survey results by Institut Integriti Malaysia • Enhancement of FGV policies • Status of whistleblowing which include number of cases, type of cases, lessons learnt and list of improvements RISK MANAGEMENT a. Assessed and deliberated on the Group’s risk status through FGV Group Quarterly Risk Report covering the Group’s top 10 risks, Risk Profile Monitor, key risks beyond the risk register-strategic, reputational and emerging risks, and key risk management and governance activities b. Appraised the reports on: • New Ventures Post Review Project Risk Assessment for three selected projects • COVID-19 Impact Analysis • 2022 plans for risk management activities and the completed initiatives SUMMARY OF WORK In 2021, the BGRMC undertook the following principal activities in discharging its responsibilities: How We Are Governed Effective Audit and Risk Management
RkJQdWJsaXNoZXIy NDgzMzc=