Needless to say, there remains tremendous scope for us to create even more positive impact. Looking forward, we will commence taking stock of our emissions Group-wide, starting with our Scope 1 (direct emissions) and Scope 2 (indirect emissions from purchased electricity, steam, heat or cooling) emissions to develop our carbon neutral roadmap, and then expand our inventory to Scope 3 (other indirect emissions in our value chain) emissions in our journey to become a net-zero emissions company by 2050. In the medium term, we will also look into adaptation and mitigation strategies in facing climate change. These will not only help us to be more equipped in facing climate-related risks, but also do our part to reduce our impact towards climate change. In the Social aspect, we will continue to enhance our employee experience to attract and retain the talent needed for us to deliver value to our stakeholders, and strive to become the local employer of choice in the countries we operate in. As we move forward, we are also cognisant of our role in the communities surrounding our businesses. I would like to express my pride at the meaningful contributions that our workforce continue to make for local communities in times of need. During the past year, our teams banded together to help those affected by the devastating floods of December 2021 and January 2022, while also assisting everyday Malaysians with financial aid during the Ramadan month. The community spirit they have shown is the truest reflection of our core values as an organisation, and together, we will continue to strive to become an impactful organisation to the communities in all the ways that we can. DELIVERING EXCELLENCE IN GOVERNANCE The imperative of achieving consistency in our processes – and therefore, the performance that our business divisions attain – rests ultimately on the robustness of our corporate governance practices. Acutely aware of the impact that a single negative incident can have on our reputation and in turn our performance, we have taken substantive steps in FY2022 towards mitigating risks from existing and emerging issues across our operating environment. These steps included a newly formed Risk & Governance Committee (“RGC”) to assist the Board in discharging its oversight responsibilities and fulfilling its fiduciary responsibilities in ensuring that there exist adequate and effective systems of governance, risk management and internal controls and to manage the overall risk exposure of the Group. This role was previously entrusted to the Audit Committee. However, the rapid growth of the Group over the last two financial periods have made it necessary to have a separate RGC to support the Board and the Audit Committee in discharging their responsibilities. The scope and terms of reference for this committee was subsequently expanded to also include purview over matters relating to Sustainability for the Group and the committee was re-named the Risk, Governance & Sustainability Committee (“RGSC”) to reflect this expanded scope. During FY2022, various initiatives were implemented to strengthen corporate governance practices of the Group. These include the revision of the Group’s Discretionary Authority Limits, which sets out the limits of authority delegated to different levels of management to facilitate timely, effective and quality decision-making in line with the expansion of the Group’s business. Another initiative is the establishment of the DNeX Group Investment Framework and Policy, which sets out the principles and rules to govern the Group in initiating, assessing, deciding, conducting and monitoring its investment processes and standardise the whole investment process for the Group, from start to finish, including post investment integration and monitoring. In addition, there are also the Directors’ Remuneration Policy; Guidelines of Directors’ Fees for subsidiary companies; the Directors’ Code of Ethics and Conduct; the Directors’ Fit and Proper Policy; as well as individual board charters for our subsidiary companies that were added to our suite of Group-wide policies during the year under review. DAGANG NeXCHANGE BERHAD 26 CHAIRMAN’S STATEMENT
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