Sustainability Governance Structure GRI 2-9, 2-12, 2-13, 2-14, 2-17 The Management team reports directly to the Board, taking responsibility for overseeing, managing, and monitoring the Group’s sustainability initiatives and material topics. As of the publication date of this SR, all Board members have completed sustainability training accredited by SGX. The Chief Executive Officer leads the Management, which is tasked with guiding the Group’s sustainability agenda. This leadership approach ensures that the integration of business and sustainability strategies is established at the highest level. The Management conducts regular reviews of the Group’s sustainability strategy, methodologies, and performance metrics. Risk Management The Group has in place a risk management framework and employs a precautionary approach in strategic decision-making and daily operations. Recognising risk management as a fundamental aspect of governance, the Board, supported by the Audit Committee (“AC”) and the Risk Management Committee (“RMC”), holds accountability for overseeing risk governance. This ensures that Management upholds an effective system of risk management and internal controls to protect shareholders’ interests and safeguard the Company’s assets. The Board acknowledges that risk management is a continuous endeavour, requiring ongoing evaluation and monitoring by Management, which reports significant risks to the Board and the AC. Established in October 2013, the RMC has played a pivotal role in enhancing the Company’s risk governance. From FY2013 to FY2018, the Company, with assistance from independent third-party KPMG Services Pte. Ltd., developed a comprehensive Board Assurance Framework (“BAF”). This framework incorporates an Enterprise Risk Management (“ERM”) structure, enabling the Company to identify and address significant and material risks, assess their potential impact and likelihood, evaluate control effectiveness, and devise action plans for risk mitigation. Key risks considered by the Company include climate, development and operation, capital availability, litigation, fraud and corruption, fluctuation risk and cybersecurity risks. In FY2025, climate risks identified were integrated into the overall ERM framework, creating a new climate risk pillar, enabling a more structured process for prioritisation. To mitigate these risks, effective controls, action plans and key risk indicators have been implemented. To address specific risks related to the Group’s operations, regular discussions are held with employees. Follow-up reviews are conducted to ensure the effective execution of risk management procedures. The Company remains committed to effectively mitigating risks and ensuring that internal controls are robust. For further details regarding the Company’s ERM framework and internal controls, please refer to the Corporate Governance section of the Annual Report 2025. 60 Annual Report 2025
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