INTEGRATED ANNUAL REPORT 2024 68 69 SECTION 6: STRATEGIC REVIEW www.miscgroup.com MISC BERHAD Our Risks and Mitigation Strategies Challenges in attracting and retaining a strong human capital team may hinder organisational knowledge development and skill acquisition needed to meet industry demands and support our growth strategy Risk Movement Continuous talent development programmes are implemented to build the capability and capacity of our internal talents, supported by performance reviews to manage the risks Impact on Value • Insufficient pool of readily available successors to assume critical positions • High attrition and undeveloped skills impede achievement of business targets and growth Mitigation Strategies • Undertake detailed succession planning and initiatives to ensure a sustainable pipeline of talent • Deploy a structured and holistic development process to continuously build employees’ competency and capability levels TALENT RISK Key Capitals F H I SR Material Matters Community Investment Human Rights Talent Development and Retention Diversity and Inclusion Digitalisation Compliance with statutory and regulatory requirements, as well as internationally accepted standards and best practices for business ethics Impact on Value • Exposure to litigation risks, financial disputes and business disruptions • Negatively impact our reputation, leading to loss of stakeholder and client trust Mitigation Strategies Measures and initiatives were put in place to promote awareness, provide continuous training and enhance processes and controls including: • Ensuring performance and adherence to relevant laws and regulations embedded in the overall key performance measurement • Conducting regular assurance activities and training on the laws surrounding ethics and compliance • Ensuring critical compliance clauses are incorporated into third-party agreements/contracts COMPLIANCE AND REGULATORY RISK Material Matters Values, Governance and Business Ethics Health and Safety Human Rights Sustainable Supply Chain Key Capitals F H SR Risk Movement Continuous and effective monitoring are performed on our compliance with statutory and regulatory requirements in applicable jurisdictions and internationally accepted standards
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