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Home > Corporate Responsibility > Risk Management |
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Risk Management
The Group has in place an ongoing process for identifying, evaluating, maintaining and managing significant risks, which may affect the achievement of business objectives and its day-to-day operations.
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| The above is achieved through a Risk Matrix, which was implemented during the financial year as follows:- |
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Risk Identification |
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Assessment and Risk Mitigation |
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Reviewing and Monitoring |
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Reporting |
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An assessment checklist has been developed to facilitate the risk identification phase. This allows for controls to be identified, which could mitigate such risks and make appropriate assessment of the impact such risks, if any. |
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Strategic Business Planning is a tool used in arriving at the assessment of a variety risks involved in the day-to-day operations of the Group. Industry outlook Analysis and Strengths, Weaknesses and Threats (SWOT) Analysis are also analyzed for further assessing industry wide risk. |
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Assessment of risk of new investments and significant capital undertaking is conducted and feedback is provided to minimize and/or mitigate the Group’s exposure in undertaking such an investment. |
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A risk based approach in the daily operations is also key in determining the effectiveness of the overall matrix. The Senior Management and Executives are constantly advised to inculcate a risk based culture in their daily operations and this is extended to all key processes. |
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The rationale of the above system of risk identification and risk based work culture is to enable the Group to achieve its corporate
objectives within an acceptable risk profile.
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