Governance 2. Enhancing Business Continuity and Preparedness In order to strengthen key areas of our business continuity framework, we have implemented several measures, as follows: Focus Areas What We Did Strengthening Business Continuity Management (BCM) • Expanded the scope of oversight by the Risk Management Committee (RMC) and the BGRMC. • Integrated the BCM lifecycle, fully aligned with ISO 22301 standards, to establish a structured and proactive approach to risk management. Enhancing Business Continuity Plans (BCP) • Improved BCP review and activation processes by introducing new matrices for review intervals and exercise frequency. • Enabled faster and more efficient responses to disruptions while maintaining operational continuity. Digitalising Business Continuity Management • Initiated the development of a digitalised system to streamline BCM processes and strengthen operational resilience. 1. Building Governance and Integrity Capabilities In 2024, a total of 15 participants, comprising officials from the Group Governance Management Division (GGMD) and GC from our subsidiaries, have completed the Certified Professional in Integrity Assurance and Management (CPIAM) programme. Additionally, two GGMD staff have also completed the Certified Integrity Officer (CeIO) programme conducted by the Malaysian Anti-Corruption Academy (MACA). This marks a significant step towards fostering a culture of ethical leadership and reinforcing governance excellence across all levels of the organisation. Through these programmes, we aim to empower our workforce to lead with integrity and contribute to a robust, value-driven organisational culture. Strengthening Risk Management Practices In 2024, we enhanced our Enterprise Risk Management (ERM) framework to ensure a proactive and structured approach to identifying, mitigating, and monitoring key risks. Key steps include: Focus Areas What We Did Monitoring Top Key Risks • Ensured quarterly monitoring of the Group’s top key risks including market/trading, labour shortages, sustainability, trade barriers, climate change, cyber threats, and corruption by tracking their likelihood, impact, and Key Risk Indicators (KRIs). • Enhanced risk reporting by embedding risk impact qualification for all the identified key risks. • Conducted horizon scanning and provided risk insights on developments with potential industry impact through Thematic Risk Analysis. Aligning Risk Appetite to the Group • Developed the Divisional Risk Appetite Statement for eight business divisions to align management of operational risks with the Group Risk Appetite Statement, ensuring tailored risk management to address each division’s unique business needs. WHAT VALUE WAS CREATED IN 2024? For FGV, maintaining a zero-tolerance stance towards bribery, corruption, and unethical practices remains a core priority. To reinforce compliance and guide employees in addressing unethical behaviour, we will continue strengthening our corporate governance, and integrity through comprehensive training, clear policy communication, and timely updates on FGV’s stance. WHAT IS OUR OUTLOOK? 130 FGV Holdings Berhad | Annual Integrated Report 2024
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