IHH Healthcare Berhad | Annual Report 2024 98 The RMC meetings were attended by among others, the Senior Management of the Group; Group Head, Risk Management & Compliance; Group Head, Internal Audit; Group Head, Medical & Quality and Group Head, Sustainability, who provided briefings on the relevant agenda items. Minutes of the RMC meetings would be circulated to all members for comments, and the decisions made by the RMC would be communicated to the relevant process owners for action. The Chairman of the RMC provided a report, highlighting significant points of the decisions and recommendations made by the RMC to the Board, as well as matters reserved for the Board’s approval, if any. Summary of Activities During the financial year, the RMC carried out the following key activities: Enterprise Risk Management 1. Reviewed the Group’s consolidated Enterprise Risk Management (ERM) reports, including the progress of the ERM transformation plan and the ERM reports of the respective operating divisions. These reports covered the ERM reporting status, risk profile, risk priorities and risk mitigation plans to ensure that the key risks arising from developments in the operating environment are effectively managed; 2. Reviewed the proposed amendments to the Group Key Risk Indicator (KRI) by Management to address evolving risks and ensure that the KRIs accurately reflect the current risk landscape and priorities of the Group; 3. Reviewed and recommended to the Board for approval the updated Group Global Treasury Policy; 4. Reviewed and recommended to the Board for approval the amendments to the limits of authority of a key operating division taking into account the risk appetite of the Group; Information Technology (IT) Risk Management 5. Reviewed the gap analysis report conducted by Management on IHH Group’s IT policies against the guidelines issued by regulatory body; 6. Reviewed the reports pertaining to IT risk universe, which covered, among others, key IT risks and residual risk profile and cybersecurity threat report. The aim was to identify and mitigate any potential IT threats that could impact the IT systems within the respective units of the Group; Bribery and Corruption Risk Management 7. Reviewed the Group’s anti-bribery and corruption risk reports, which included the risk profile, key controls and mitigation action plans against possible bribery and corruption, and incident reporting in line with the Group’s AntiBribery and Corruption (ABC) Policy; Clinical Quality 8. Reviewed the reports on Clinical Quality Updates, which encompassed the following: (i) clinical quality indicators of the Group’s operating divisions in Malaysia, Singapore, India, Hong Kong, Türkiye and Brunei. The key objectives were to improve clinical outcomes and enhance patient experience. This also helped in identifying areas for improvement, assessing risks and setting targets for care quality and safety throughout the Group; (ii) action plans/initiatives undertaken to drive clinical quality improvement; (iii) trend of serious reportable events, which highlighted problem areas in clinical performance and opportunities for improvement; (iv) the Group’s medico-legal litigation cases, including the changes in the legal landscape relating to medicolegal litigation and action plans to mitigate the associated risks; and (v) clinical audit. Sustainability 9. Discussed the sustainability roadmap and monitored the progress of the overall short-, mid- and long-term sustainability strategies and action plans; 10. Reviewed and recommended to the Board for approval the Sustainability Report for inclusion in the Annual Report 2023; 11. Deliberated on key environmental, social and governance (ESG) risks and the progress of risk mitigation plans; 12. Reviewed the sustainability updates which included the progress against IHH’s 2023-2025 sustainability goals and other sustainability metrics; 13. Kept abreast with the evolving sustainability reporting landscape, including the launch of new sustainability disclosure standards by Bursa Malaysia Securities Berhad, the International Sustainability Standards Board and the Sustainability Accounting Standards Board. Reviewed Management’s progress in meeting the disclosure requirements; 14. Provided guidance to Management on refining and focusing Group’s sustainability approach to align with the Group’s priorities as a leading healthcare organization; Other Activities 15. Discussed and reviewed the RMC Work Planner, which outlines the activities for 2025, ensuring that the RMC focuses its attention on meeting the RMC’s TOR requirements throughout 2025; and 16. Reviewed and recommended to the Board for approval the RMC Report and the Statement on Risk Management and Internal Control for inclusion in the Annual Report 2023. Governance Risk Management Committee Report
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