FGV Annual Report 2020

228 FGV HOLDINGS BERHAD Annual Integrated Report 2020 Statement On Risk Management And Internal Control FGV Anti-Corruption Plan (FGVACP) In April 2020, the Board approved the FGVACP that is to be aligned to the Organisational Anti Corruption Plan (OACP) adopted by Government Linked Companies (GLCs). This is required under the National Anti-Corruption Plan (NACP) to support the government’s agenda towards combating corruption. Following the enforcement of the MACC Act 2009, Section 17(A) on Corporate Liability, the FGVACP has further strengthened governance and integrity practices, by putting in place strategic anti-corruption initiatives. FGVACP is an all-encompassing anti-corruption blueprint that comes at the heels of FGV’s Anti Bribery Management System certification that was obtained in December 2019. This new plan was developed by strengthening the previous FGV Corporate Governance and Business Integrity Blueprint. It identified weaknesses, strengthened efficiency and minimised opportunities that could lead to corruption, fraud and abuse of power. FGVACP represents the leadership’s persistent efforts to establish FGV as a transparent and respectable organisation, with zero tolerance for corruption. Online Integrity Pledge Realising that every employee of FGV should be vigilant and committed to the highest standards of honesty and integrity at all times and support the fight against corruption, FGV has mandated all employees to demonstrate this commitment by signing the Online Integrity Pledge. Launched in July 2020, the pledge binds each employee to be accountable for their actions, act in the interest of FGV, lead by example by exhibiting integrity in personal behaviour, and report any incident of corruption immediately to the appropriate channels. Notwithstanding the Covid-19 pandemic and work-from-home norms, over 90% of FGV employees have duly signed the Online Integrity Pledge as of 31 December 2020. FGV won the 2020 Best Corporate Governance (Malaysia) award from World Finance, a London-based quarterly print and online publication that is circulated in the world of finance and economics. The award represents international recognition of FGV’s unstinting efforts to embed an integrated corporate governance culture across the Group, as indicated by the award criteria. Previous winners of this award include prominent Malaysian companies from diverse industries such as telecommunications and banking. The award was based on the following criteria: Recognition by World Finance Internal structures Risk management policy Internal and third party auditing policies Disclosure and transparency Communication with stakeholders Remuneration and salaries Boardroom composition and committee independence Succession planning Shareholder rights 2020 Milestones In 2020, FGV continued with its turnaround plan anchored by rigorous governance, risk management and internal control systems and practices THAT are responsive to the myriad challenges faced by the business – none more so than the unprecedented COVID-19 pandemic. Against this backdrop, a few significant milestones were achieved.