SARAWAK PLANTATION BERHAD
|
42
|
Annual Report 2014
Statement on Corporate Governance
II. Board Committees
(continued)
Risk Management Committee
The Risk Management Committee was established on 1 May 2007. It forms an integral part of
the effective management of the Company and it seeks to identify and address principal risk
areas which include business, environment, human capital, safety, security and operation of the
Company with the aim of preventing and mitigating these risks.
The Risk Management Committee comprises the following members:
Name of Committee Member
Designation
Polit bin Hamzah
Chairman - Group Managing Director
Azizi bin Morni
Independent Non Executive Director
Zahari bin Mohd Nusi*
Chief Operating Officer
* Resigned with effect from 31 August 2014
The terms of reference of the Risk Management Committee includes the following:
(a) establishes the risk management policy of the Company and reviews such policy regularly in view
of the changing business environment;
(b) identifies principal risks underlying the business and operation of the Company and sets up the
risk profile of the Company;
(c) evaluates, monitors and develops strategies and actions to address these principal risks with a
view to maintaining a balance between the risks and the returns to shareholders;
(d) reviews the reports on risks, major findings and management actions in addressing these risks;
(e) performs a review of the application of risk management policy and practices of the Company on
at least a half yearly basis;
(f) reports to the Board of Directors on the status of the evaluation and monitoring of the risk profile
on a half yearly basis;
(g) advises the Management on the resources required in reviewing, evaluating and monitoring the
risk profile of the Company;
(h) directs the Internal Auditor to pursue further into areas identified as high risks and reports its
findings and recommendations for submission to the Board Audit Committee.
