ANNUAL REPORT 2021 53 OUR BUSINESS RISKS AND OPPORTUNITIES MYEG remains mindful of its business, financial, strategic and operational risks, more so in a dynamic industry where technological disruption and other changes occur rapidly. However, this rapidly evolving and disruptive environment also offers a wide range of opportunities. Risks and opportunities are not viewed in silos, but from the perspective of the ensuing impacts on the business model itself, our value chain and business processes including ability to execute business and operational strategies. The relationship between risks and our environmental and social material topics is also duly considered as we look to increasingly align financial and non-financial business performance for a more holistic understanding of our impacts. 4 Customer experience 3 Technology performance 2 Customer data 1 Cyber threat 5 Economic 6 Political and regulatory environment 7 Business strategy 8 Talent retention 9 Law and ligislation 10 Litigation Risk Likelihood and Severity Matrix Impact Likelihood High Medium Low The Group continues to map business, operational, financial and ESG risks against material topics. Going further, the group has assessed risk impacts in terms of impacts on stakeholders rather than just impacts to MYEG alone. Our material risk factors remain the same as with previous years. For detailed information on MYEG’s internal risk management mechanism, please refer to our Risk Management and Internal Control Statement within this report. Our risk management framework and policy are ISO31000 certified. The Board oversees risk-related matters which include financial and operational risks as well as ESG related risks.
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