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Kumpulan Fima Berhad

(11817-V)

94

STATEMENT ON RISK MANAGEMENT

AND INTERNAL CONTROL

1.

INTRODUCTION

The Board acknowledges that the practice of good corporate governance is an on-going process and not just an annual matter

to be covered as compliance in the Annual Report. The Board is committed to practise the highest standards of corporate

governance and observing best practices throughout the Group. The Board’s Statement on Risk Management and Internal

Control is in compliance with Paragraph 15.26(b) of the Bursa Malaysia Securities Berhad Main Market Listing Requirements

and the Statement on Risk Management and Internal Control: Guidelines for Directors of Listed Issuers.

2.

RESPONSIBILITY

The Board recognises their responsibility for the Group’s system of internal control, which is designed to identify and manage

the principal risks facing the business in pursuit of its objectives, to review its adequacy and integrity and to ensure good

corporate governance. The Management is accountable to the Board for monitoring the Group’s system of internal control

and for providing assurance to the Board that it has done so.

The system of internal control covers risk management, financial, operational, administration, human resource, information

technology and compliance controls to safeguard shareholders’ investments and the Group’s assets. This system is designed

to manage rather than to eliminate the risk of failure to achieve business objectives and can only provide reasonable but not

absolute assurance against material misstatement or loss.

The Board is of the view that the system of internal control and risk management in place for the year under review, and up to the

date of approval of this Statement on Risk Management and Internal Control, is sound and sufficient to safeguard the Group’s

assets, as well as the shareholders’ investments, and the interest of other stakeholders. The Board has received assurance

from the Group Managing Director (“Group MD”) and the Group Chief Financial Officer that the Group’s risk management and

internal control system is operating adequately and effectively, in all material aspects, based on the Group’s risk management

and internal control system.

3.

WHISTLEBLOWING POLICY

To reinforce the culture of good business ethics, the Group has also introduced a whistleblowing framework and policy to

provide an avenue for stakeholders and employees to raise genuine concerns internally or report any suspected breach or

wrongdoing, which includes fraud, misappropriation of assets, breach of any law or regulation, including the Group’s policies

and procedures, to the Group MD and/or Chairman of Audit Committee without fear of reprisals.

Procedure

Any concerns should be raised with immediate superior. If for any reason, it is believed that this is not possible or appropriate,

then the concern should be reported to the Group MD:

Name

:

Dato’ Roslan bin Hamir

Via Email

:

whistleblowing@fima.com.my

Via Mail

:

Mark: Strictly Confidential

Kumpulan Fima Berhad

Suite 4.1, Level 4, Block C

Plaza Damansara

No. 45, Jalan Medan Setia 1

Bukit Damansara, 50490 Kuala Lumpur

Attention: Group Managing Director