STEERING INTEGRITY AND ACCOUNTABILITY SEC 6 138 SIGNIFICANT MATTERS CONSIDERED BY THE COMMITTEE The Chairman of the BGRMC provided the Board with updates on critical issues discussed during BGRMC meetings and the recommendations made therein. Additionally, confirmed minutes from each BGRMC meeting were distributed to the Board for review at the earliest possible opportunity. Significant matters reported by the BGRMC to the Board included: PRINCIPLE B: EFFECTIVE AUDIT AND RISK MANAGEMENT SIGNIFICANT MATTERS HOW THE BGRMC PROVIDED OVERSIGHT ON THESE MATTERS Russia-Ukraine Conflict Recognised the repercussions on FGV’s operational landscape, cognisant of the intricate interplay of risks stemming from diverse fertiliser sourcing locales, fluctuations in global freight charges, potential disruptions in logistics and shipments, energy price dynamics, volatility of the global vegetable oils market, and currency exchange fluctuations. Risk Management Committee Meeting Took note of the key deliberation for matters discussed in the Risk Management Committee meeting. Group Policies Recommended the following new and proposed revisions for the Board’s approval: New • Corporate Branding & Communications Policy • Flexible Working Arrangement Policy • Group Grievance Management Policy Revise • COEC • COBP • GSP Enhancement of FGV Group Risk Appetite Statement (FGV Group RAS) • Reviewed the enhanced FGV Group RAS and took note of the progress and updates on its implementation and dissemination to the sector and subsidiary levels, ensuring a consistent understanding and adoption across FGV. • Reviewed and recommended the enhanced FGV Group RAS to the Board for approval. FGV Group Quarterly Risk Report • Deliberated on the paramount risk landscape pertaining to the Group’s business and operations which entailed key risks and the corresponding mitigation strategies. Informed the Board of risks necessitating closer scrutiny, presenting a detailed overview of the prevailing risk profile and future outlook. • Reviewed new project risk assessment, new venture post review project risk assessment and tender risk assessment for investment proposals and tender participations. Preparedness for Militant Threat in Sabah East Sabah Security Zone (ESSZONE) Acknowledged the implementation of a location-based crisis management team at ESSZone Sabah to effectively coordinate and address local crises. Additionally, ongoing improvement initiatives and regular training sessions were noted in response to the risk posed by the Sulu Sultanate’s activities in contested areas, aimed at mitigating potential threats.
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