RISK MANAGEMENT Sound risk management remains integral for MYEG to effectively safeguard shareholders’ investments, the Group’s own assets and other stakeholders involved with MYEG’s operations. The Head of Departments of various functions support the Risk Management Committee (“RMC”) in overall risk management process by assessing key strategic and operational risks. The RMC raises any potential risks it identifies to the Board, given that the Board maintains ultimate oversight of MYEG’s risk management process. These potential risks are subsequently deliberated at scheduled Board meetings. Material ESG topics and related risks are progressively being discussed and embedded in MYEG’s overall risk approach, as ESG issues have a growing impact on various factors such as financial and non-financial value creation, access to financing, brand reputation and beyond. MYEG’s system of internal control and risk management practices continuously evolve to meet the changing and challenging business environment. The full details on our risk management framework and structure can be found in the Risk Management and Internal Control Statement in our report on page 136. STRONG ANTI-BRIBERY AND ANTI-CORRUPTION POSITION MYEG’s robust Anti-Bribery and Anti-Corruption (“ABAC”) policy stance remains consistent in pursuant of Section 17A of the Malaysian Anti-Corruption Commission Act 2009 (“MACCA”). The MACCA came into force on 1 June 2020 and denotes that commercial organisations are liable and punishable if found to be involved in bribery. Potential liability extends to the company’s directors, officers, partners, employees and others who are tied to the company’s management, affairs and operations. MYEG’s Board-approved ABAC Policy continues to be stringently enforced at all operating levels within MYEG involving both internal and external stakeholders such as suppliers and vendors. This displays the great lengths MYEG has gone to ensure this policy’s implementation. The Board receives all relevant information on MYEG’s ABAC agenda through the Audit Committee (“AC”) and RMC. The Board has reviewed the Group’s ABAC framework, policies (Whistleblowing Policy, ABAC Policy), and codes (Codes of Conduct, Code of Ethics and Code of Business Ethics). Subsequently, policy approvals have been given, and the full enhanced framework, policies and codes are available on our company’s website under the Investors Relations section at https://www.myeg.com.my/investor-relations/governance. ANTI-BRIBERY AND ANTI-CORRUPTION TRAINING AND COMMUNICATION Anti-bribery and anti-corruption training remain essential to MYEG to foster better understanding and enforcement of the Group’s ABAC policies and practices. Board members are entrusted to lead from the top to develop the Group’s ability to govern whilst maintaining a high-level of integrity simultaneously, and therefore receive important ABAC training aligned to their leadership attributes and experience. However, not only do our Board members receive ABAC training, so do other employees at a non-senior decisionmaking level. Therefore, employees, Board members, Heads of Department (“HODs”) and senior decision-level decision makers have all been exposed to various anti-corruption refresher courses and related training programmes throughout FY2022 to enable them to continue performing their fiduciary and statutory duties. MYEG’s yearly ABAC refresher course was successfully conducted in FY2022, with full participation attendance. SUSTAINABILITY GOVERNANCE (cont’d) 70
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