pg. 209 Corporate Governance Report Integrated Annual Report 2025 1. Credit Card Management • Personal use of corporate cards disguised as business expenses • Falsification of receipts or inflated claims • Approving non-compliant transactions without proper review 2. Employee Expense Claims Process • Submission of falsified or duplicate claims • Manipulation of approvals for travel, entertainment, or operational claims • Abuse of reimbursement policies 3. Leasing Management & Tenant Selection Processes • Preferential treatment during tenant evaluation or renewal negotiations • Improper inducements from prospective tenants • Manipulation of tenant scoring or assessment criteria 4. Recruitment & Payroll Management Process • Nepotism, cronyism, or appointments based on personal interest • Bribes to secure employment or promotion • Ghost employees or unauthorised salary adjustments 5. Vendor Selection, Procurement & Tender Process • Kickbacks from vendors during selection or contract negotiation • Manipulation of procurement or tender documents to favour specific vendors • Collusion between staff and suppliers 6. Property Sourcing, Acquisition, Evaluation & Approval • Undue influence or bribery to favour certain sellers or intermediaries • Manipulation of valuation reports or technical assessments • Conflicts of interest in acquisition due diligence The assessment started on 17 December 2025 and completed on 12 January 2025. Summary of the CRA In line with MCCG Practice 3.1, the Board oversees the implementation of a robust governance and integrity framework, including the conduct of a CRA to identify and manage corruption risks across key business processes. The CRA indicates that the Manager has in place sound policies, controls and approval structures, supported by a positive ethical culture and a strong tone from the top. No evidence of systemic corruption or deliberate circumvention of controls was identified, and higher-risk areas such as procurement, property acquisition and payment approvals are governed by defined authority limits and review mechanisms under the Group’s ABAC framework. Consistent with MCCG Practice 11.1, the Board, through the BARC, is satisfied that the Manager’s risk management and internal control systems remain adequate and effective in addressing corruption and integrity risks. The CRA identified opportunities for continuous improvement, including enhanced documentation, strengthened conflict-of-interest management and increased awareness of whistleblowing mechanisms. Overall, the Board is of the view that the REIT’s corruption risk exposure remains low and manageable, with ongoing monitoring and assurance processes in place to further strengthen governance resilience The business processes assessed include: Key Corruption Risks Identified Across Selected Processes STATEMENT ON RISK MANAGEMENT & INTERNAL CONTROL
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