WASCO BERHAD 142 BOARD SUSTAINABILITY COMMITTEE 4.3 Anti-Bribery and Corruption Compliance a. On 6 February 2024, 24 May 2024, 26 August 2024 and 22 November 2024 respectively, the BSC deliberated on the updates of activities undertaken and discussed at the respective Integrity Committee meetings held quarterly to ensure that the proposed measures and initiatives to prevent bribery and corruption within the Group were adequately in place. b. On 6 February 2024, the BSC reviewed the findings of the Anti-Bribery Management System (“ABMS”) Internal Audit conducted on 9 departments/functions within Wasco Management Services Sdn. Bhd. (“WMS”) and noted that the findings recorded zero non-conformity/opportunity for improvement. c. The BSC at its meetings held on 24 May 2024 and 26 August 2024 respectively reviewed the findings of the SIRIM Recertification Audit for WMS and noted that WMS had received two certificates from the following parties: • SIRIM QAS International – in compliance with the ISO 37001:2016 and MS ISO 37001:2016 standards; and • IQNET – in view of the fulfilment of requirements under ISO 37001:2016 and MS ISO 37001:2016. There was no issue of non-conformity/opportunity for improvement raised by the SIRIM auditors. d. On 22 November 2024, the BSC reviewed and deliberated on the revised ABMS objectives together with the anti-bribery and anti-corruption risk assessment conducted on WMS. 4.4 Others In line with the Companies (Amendment) Act 2024 and the Guidelines for the Reporting Framework for Beneficial Ownership (“BO”) of Companies, the BSC at its meeting held on 24 May 2024 reviewed and recommend the proposed amendments to the Group’s BO Policy for the Board’s approval. 5. ESTABLISHMENT OF NEW POLICIES During the financial year under review, the BSC established the following policies:- (i) Sustainability Policy was established on 1 January 2024. The policy serves as a commitment of the Group to its stakeholders in respect of the short and long term initiatives of the Group by integrating the economic, environment, social and governance elements into the Group’s business strategies and considerations. The Sustainability Policy is available on the Company’s website at www.wascoenergy.com. (ii) Group Human Rights Policy was established on 29 August 2024. The policy serves as a dedication of the Company to uphold human rights and a guideline for all employees, partners and stakeholders connected with the Group to promote a work environment that respects and protects human rights in all aspects of its operations. The Group Human Rights Policy is available on the Company’s website at www.wascoenergy.com. (iii) Anti-Money Laundering Policy was established on 28 November 2024. The policy serves as a commitment of the Company to combat money laundering and terrorism financing within the Group. The Anti-Money Laundering Policy complements and should be read in conjunction with The Principles of Business Conduct, Directors’ Code of Ethics, Anti-Bribery and Corruption Policy, Conflict of Interest Policy and Whistle Blowing Policy. The Anti-Money Laundering Policy is available on the Company’s website at www.wascoenergy.com.
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