The Group is dedicated in supporting the local communities within which it operates and through its corporate responsibility programmes, the Company will continue to implement initiatives to contribute back to the society and local communities. A separate Statement on Sustainability is as set out on pages 10 to 36. 8. CORPORATE DISCLOSURE POLICIES AND PROCEDURES The Board has established a Corporate Disclosure Policies and Procedures aiming at effectively handling and disseminating the corporate information timely and accurately to its shareholders, stakeholders, potential investors and the public in general as required by Bursa Malaysia Securities Berhad. The Corporate Disclosure Policies and Procedures are available on the Company’s website at www.wahseong.com. 9. GOVERNANCE MODEL DOCUMENT The Governance Model Document is established and approved by the Board of Directors on 23 February 2021 as part of the Group wide framework for co-operation and communication between the Company and its subsidiaries, in compliance with the Group Governance under Chapter 5 of the SC Guidelines on Conduct of Directors. The Governance Model Document is last reviewed by the Board on 24 February 2022. The Governance Model Document is available on the Company’s website at www.wahseong.com. 10. ANTI-CORRUPTION MEASURES The Company published the Anti-Bribery and Corruption Policy (“ABC Policy”) on the Company’s website in compliance with the MMLR which took effect from 1 June 2020. The Board of Directors has approved and adopted the Anti-Bribery and Corruption Framework (“ABC Framework”) established for the Group based on the T.R.U.S.T. principles of the Guidelines on Adequate Procedures of the MACC Act. The ABC Framework Handbook serves to inform the Group’s directors, employees and its business associates about the Group’s core values and expectations, as well as the policies and procedures pertaining to the handling of bribery and corruption matters within the Group. The ABC Framework Handbook also serves as a preventive tool and guidance to assist the Group’s directors, employees and business associates in recognizing, preventing and detecting potential corrupt practices. The Board of Directors is committed to ensuring that the policies and procedures on anti-corruption and bribery are reviewed periodically, at least once every 3 years to assess its effectiveness in addressing and mitigating corruption risks. The Board of Directors is assisted by the Integrity Committee in the oversight of policy-making, implementation of an effective regulatory framework and practices and to ensure that the approach of the Group on anti-bribery and anticorruption is in compliance with the MACC Act while the Risk Management Committee captures such risks in the risk register and in the annual risk assessment of the WSC Group. The Energy Division of the WSC Group under the championship of Wasco Management Services Sdn. Bhd., the indirect wholly-owned subsidiary of WSC is an ISO 37001:2016 SIRIM Certified company. 11. CORPORATE GOVERNANCE REPORT Please refer to the Company’s Corporate Governance Report on the extent of the Company and its Group’s application and compliance with the MCCG 2021 and the relevant explanations for the deviations which can be downloaded from the Company’s website at www.wahseong.com. CORPORATE GOVERNANCE OVERVIEW STATEMENT Wah Seong Corporation Berhad Annual Report 2022 82
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