INTERNAL CONTROL The Group manages its risks by implementing various internal control mechanisms. The mechanisms apply to all subsidiaries within the Group. The key elements of our internal control structure are as follows: Ethics and Integrity MSM is committed in applying the highest standards of ethical conduct and integrity in conducting its business activities by putting in place adequate Policies & Procedures as the fundamentals for internal control. It is also aligned with the Guidelines on Adequate Procedures for Corporate Liability, which are based on the five guiding principles of T.R.U.S.T. In tightening up the Group’s internal control, MSM has developed/enhanced through the following: Internal Control Elements Ethics & Integrity Authority & Responsibility Competency Policies & Procedures Monitoring Integrity Activities MSM Malaysia Holdings Berhad has undertaken the following key activities to show our commitment to be an ethical and professional organisation, anchored on ethics, integrity and accountability: • Corruption Risk Management • MSM Integrity Pledge • Governance, Integrity & Risk Periodic Communication • MSM Anti-Bribery Policy Statement • Central Depository System • Establishment of new and revised Policies • Establishment of Whistleblowing Channel & Committee • Integrity Compliance Assessment • Governance and Integrity E-Learning • Virtual Prodigy Induction • EXCO Integrity Talk and Pledge • Vendor Integrity Attestation • Corporate Governance & Risk Management update to EXCO Anti-Bribery Policy Statement MSM is committed to encourage transparent and good ethical conduct and upholding good image of integrity, transparency and accountability in all aspects of its business. The anti-bribery policy statement has been updated and approved on 4th October 2021 and been uploaded in the web http: / /www.msmsugar.com/our-company/corporategovernance STATEMENT ON RISK MANAGEMENT AND INTERNAL CONTROL WHO WE ARE STATEMENT & DISCUSSION BY OUR LEADERS HOWWE OPERATE MSM Malaysia Holdings Berhad ANNUAL INTEGRATED REPORT 2021 260
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