Main Board Focus on Strong Governance We recognise that good governance is essential in assisting the business to deliver its strategy, generate shareholder value and safeguard shareholders’ long-term interests. An important area of focus for the Group during the year was to ensure our preparedness in meeting the requirements of Section 17A of the MACC Act 2009. The MACC Act 2009, which was amended to introduce corporate liability for corruption offences of commercial organisations, was enforced on 1 June 2020. Board Committees • Audit, Governance and Risk Committee • Nomination and Remuneration Committee • Investment and Tender Committee Group Chief Executive Officer Corporate Centre, Operations & Supporting Functions Commitment to Anti-Bribery and Anti-Corruption Adequate Procedures are the pillars of defense against corporate liability, particularly corruption offences. MSM has taken a holistic approach in implementing adequate procedures by adopting the principles (T.R.U.S.T): • Top Level Commitment - Board, Executive Leadership & Management • Risk Management - Corruption Risk Management (CRM) • Undertake Control Measures - Establishment and review of policies and procedures • Systematic Review, Monitoring and Enforcement - Regular review on performances, efficiency and effectiveness of the anti-corruption programme, and ensure the enforcement • Training and Communication - Governance, Integrity & Risk education, awareness and periodic communication MSM has embedded the principles of adequate procedures in the Anti-Bribery Policy Statement and Whistleblowing Policy which evidently available at MSM’s corporate website in compliance with Paragraph 15.29 (1) and (2) of Listing Requirements and guided by the Guidelines on Adequate Procedures, Section 17A (5) of the Malaysian Anti-Corruption Commission (MACC) Act 2009 (Amendment Act 2018). There are three (3) key focus areas were examined - Corruption, Fraud and Abuse of power. Anti-Bribery Policy Statement and Whistleblowing Policy are available on the Company’s corporate website at http://www.msmsugar.com/our-company/corporate-governance SUSTAINABILITY JOURNEY HOWWE ARE GOVERNED FINANCIAL STATEMENTS ADDITIONAL INFORMATION 211
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