FGV Annual Report 2013

MSM, as a listed company, reports its risk management activities to the MSM Audit Committee for subsequent deliberation at MSM Board. However, any significant risks impacting the FGV Group will be identified and reported to both, the GRMC as well as the MSM Audit Committee. KEY INTERNAL CONTROLS The key elements of the internal control structures of the Group set the tone in providing the fundamental discipline on risk management and control. These internal control structures apply to all of the Group’s investments, except to the following: • The Group’s overseas subsidiaries, which are subject to local laws and customs, have their own internal control structures. • MSM Malaysia Holdings Berhad, which is a listed subsidiary of the Group, which operates independently and has its own internal control structures. • Felda Iffco Sdn. Bhd. and Trurich Resources Sdn. Bhd., which are significant joint ventures companies not managed by the Group. • Significant associate companies (Felda Procter & Gamble, Taiko Clay, Paragon, MEO, etc) The Group has continuously been undertaking efforts to enhance its internal control structures within the Group, extending to MSM and its overseas subsidiaries. The key elements of the Group’s internal control structures are as follows: Sebagai sebuahsyarikat tersenarai,MSMmelaporkankegiatanpengurusan risikonya kepada Jawatankuasa Audit MSM untuk perbincangan Lembaga Pengarah MSM. Walau bagaimanapun, sebarang risiko penting yang menjejaskan Kumpulan FGV akan dikenal pasti dan dilaporkan kepada GRMC serta Jawatankuasa Audit MSM. KAWALAN DALAMAN UTAMA Elemen-elemen penting dalam struktur kawalan dalaman Kumpulan menetapkan rentak dalam penyediaan disiplin asas pengurusan risiko dan kawalan. Struktur kawalan dalaman ini diguna pakai bagi semua pelaburan Kumpulan, kecuali yang berikut: • Anak-anak syarikat Kumpulan di luar negara, yang tertakluk kepada undang-undang dan peraturan tempatan, memiliki struktur kawalan dalaman mereka sendiri. • MSM Malaysia Holdings Berhad yang merupakan anak syarikat tersenarai Kumpulan, beroperasi secara bebas danmemiliki struktur kawalan dalaman sendiri. • Felda Iffco Sdn. Bhd. dan Trurich Resources Sdn. Bhd., merupakan syarikat usaha sama penting yang tidak diuruskan oleh Kumpulan. • Felda Procter & Gamble, Taiko Clay, Paragon, MEO dan lain-lain merupakan syarikat bersekutu penting. Kumpulantelahmelaksanakanusahaberterusanuntukmempertingkatkan struktur kawalan dalamannya dalam Kumpulan yang merangkumi MSM dan anak-anak syarikatnya di luar negara. Elemen penting struktur kawalan dalaman Kumpulan adalah seperti berikut: Integrity and Ethical Values Integriti dan Nilai-nilai Etika Ongoing Monitoring Pemantauan Berterusan Commitment to Competency Komitmen kepada Daya Saing Policies and Procedures Dasar dan Prosedur MANAGING RISKS PENGURUSAN RISIKO Assignment of Authority and Responsibility Pengagihan Kuasa dan Tanggungjawab Felda Global Ventures Holdings Berhad 151