STEERING INTEGRITY AND ACCOUNTABILITY SEC 6 152 STATEMENT ON RISK MANAGEMENT AND INTERNAL CONTROL ETHICS & INTEGRITY More information on CoEC, CoBP and CoBCE can be found in Corporate Governance Overview Statement on page 129. In firm commitment to a zero-tolerance policy against bribery and corruption, the Group has adopted an ISO-certified Anti-Bribery Management System (ABMS). This system maintains a rigorous standard of ethical business conduct and integrity, ensuring compliance with Section 17A of the Malaysian Anti-Corruption Commission Act (MACC Act) to safeguard against bribery and corruption risks. The Group is dedicated to continually maintaining its ABMS and is scheduled for recertification for the period 2023-2025. Anti-Bribery Management System The Group is committed to sustainable business practices in our business management and operations. Key aspects of the Environmental, Social, and Governance (ESG) agenda are encapsulated into the Group’s grievance procedures, with an effective mechanism that provides rights holders to raise grievances and receive access to remedy. Group Grievance Management Policy The essence of the Group’s corporate culture is firmly rooted in its core values of Partnership, Respect, Integrity, Dynamism, and Enthusiasm (PRIDE). These values play a pivotal role in shaping an ethical and high-performance culture, aligning with the Group’s overarching vision and bolstering its business objectives and goals. Ensuring that every employee is well-versed in these values is instrumental in instilling the appropriate conduct and cultural ethos throughout the organisation. The PRIDE elements are integrated into the annual performance assessment of employees, signifying the Group’s commitment to its core values. The Group prioritises the identification and cultivation of high-potential candidates as a fundamental component of succession planning, aligning with the overarching goal of supporting the Group’s growth strategies. Recognising the imperative nature of this exercise, the organisation is committed to constructing a robust succession pipeline and fostering a healthy talent bench strength. This commitment is manifested through investments in competency development programmes that are specifically designed to cultivate the requisite skills essential for effective business operations. This strategic approach underscores FGV’s dedication to nurturing talent and ensuring a resilient foundation for sustained growth. COMPETENCY AUTHORITY & RESPONSIBILITY FGV has established clear lines of responsibility and delegation of authority to facilitate rapid responses to changing business dynamics, ensuring effective supervision and coordination of daily operations. This includes a defined organisational structure and Group Limit of Authority (GLOA), approved by the Board, outlining limits and approval authorities for both Board and Management across key processes. Empowering various levels of management, the GLOA facilitates informed decision-making and business transaction execution within predetermined risk tolerances set by the Board to foster operational efficiency. Management reports are deliberated monthly at GMC level to review the financial, non-financial and operational performance of the various businesses of the Group as well as review papers for submission to the Board. The role of GMC is complemented by other management committees that report directly to the GCEO. The financial and operational performance is reviewed quarterly by the Board to monitor FGV’s business progress against established strategies, budgets and targets set annually. Through these platforms, actions and initiatives are implemented to close any gaps in the achievement of strategies and budgets. INFORMATION & MONITORING
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