134 FGV HOLDINGS BERHAD ABOUT FGV MANAGEMENT DISCUSSION & ANALYSIS VALUE CREATION BOARD GOVERNANCE & RISK MANAGEMENT COMMITTEE REPORT PERFORMANCE REVIEW During the financial year, the Board evaluated the BGRMC’s performance and the extent to which the BGRMC met the requirements of its ToR, including the term of office and performance of the BGRMC and each of its members. This performance assessment constituted part of the annual BEA, pertaining to the assessment of Board Committees. This Report was made in accordance with a resolution of the Board of Directors approved on 30 March 2022. Effective 1 September 2021, matters related to sustainability became agendas of the newly established Board Sustainability Committee. 6 • Deliberated on key risks horizon associated with the Group’s business and operations covering Group top 10 risks and mitigations. Informed the Board on risks that require closer attention and of the prevailing risk profile and outlook • Reviewed and approved the new user system for the online integrity pledge for employees • Reviewed and deliberated on the number of whistleblowing cases, their respective categories, lessons learnt and recommendations from investigations cases • Received updates on sustainability key initiatives, among others, FGV’s Affiliation to the Fair Labor Association (FLA) and related labour programmes, RSPO/MSPO/ISCC Certification Status, FGV Conservation Programme (2021-2022), Traceability and Supplier Management Programme, Climate Action Programme • Received updates on the status and progress of the selection of an independent assesor and legal counsel to address the Withhold Release Order (WRO) by the United States Customs and Border Protection Agency (CBP) • Updated on the issues, action plans and outcomes pertaining to new ventures undertaken by FGV FGV Group Quarterly Risk Report Whistleblowing Group Sustainability Report US Customs and Border Protection (US CBP) Withhold Release Order (WRO) against palm oil and palm oil products made by FGV, its subsidiaries and joint ventures New Ventures Post Review Project Risk Assessment 7 3 4 5 Significant matters How these matters were addressed by the BGRMC How We Are Governed Effective Audit and Risk Management
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