a) Risk Appetite Framework The Risk Appetite Framework defines the risk boundaries in line with our corporate strategy for compliance within the Group. Under this framework, the Board has approved six Group Risk Appetite Statements with respect to our key risks, and in line with the Group’s material ESG factors. They serve as a key conduit for aligning the Group’s risk profile with the Group’s corporate strategy to achieve its business objectives. Enterprise-wide risk appetite statements are translated into risk tolerances to guide tactical risk-taking at the operational level. Risk tolerance sets the boundaries of acceptable variation in performance in line with the risk appetite for each underlying key risk. Strategic We are committed to pursuing sustainable and inclusive growth to enhance our competitive advantage whilst upholding our core values. ESG We subscribe to ESG best practices to benefit all stakeholders. Financial • We aim to maintain a resilient balance sheet. • We have a defined governance framework to evaluate and approve all investment and business transactions. Regulatory Compliance • We comply with all applicable laws and regulations in the countries we operate in. • We adopt a zero tolerance policy towards fraud, bribery and corruption. Operational • We are committed to “Safety Before Profits”. • We aim to achieve zero accidents at the workplace. IT and Cyber We are committed to protecting our data and systems including those entrusted to us by adopting best practices in cybersecurity. The RSC provides oversight to the Group by reviewing the Risk Appetite Framework and risk tolerance which are subject to periodic reviews to take into consideration significant changes in the business environment, ensuring that they continue to support the Group in achieving its strategic objectives. b) Risk Review Process Under the ERM framework, our Group’s key risks have been established and regularly refreshed to incorporate new and emerging risks. In 2024, risk workshops were conducted with the respective business areas to identify and prioritise their emerging risks. Established action plans and watchpoints for key emerging risks are monitored and communicated regularly to facilitate informed decision-making. Each Line of Business will update its risk register periodically based RISK APPETITE Fostering Growth & Resilience Achieving Our Group Aspiration And Maximising Stakeholders’ Value Good Financial Performance Resilient Balance Sheet Sound Business Decisions RISK APPETITE STATEMENTS Types and aggregate levels of risk that the Group is willing to accept in pursuit of business objectives 97 CORPORATE OVERVIEW PERFORMANCE REVIEW SUSTAINABILITY FINANCIAL REPORT
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