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 23 May 2023. The Governance Model Document is available on the Company’s website at www.wascoenergy.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 Group’s Anti-Bribery and Corruption Management System Manual (“ABMS Manual”) and its twenty four (24) Standard Operating Procedures (“SOPs”) were established on 1 December 2020 in accordance with SIRIM ISO 37001: 20l6 and Section 17A of the MACC 2009 (Amendment 2018). The ABMS Manual together with its 24 SOPs serves as a comprehensive preventive tool and guidance to the Directors, employees and business associates of the Company and the Group in recognizing the Group’s core values, principles and expectations, as well as the policies and procedures in preventing, detecting and handling of potential bribery and corruption matters. 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 their effectiveness in addressing and mitigating corruption risks. The Board of Directors is assisted by the GCRC and its sub-committee, 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 anti-corruption is in compliance with the SIRIM ISO 37001:2016 and Section 17A of the MACC Act (Amendment 2018) while the Risk Manager captures such risks in the risk register and in the annual risk assessment of the WB Group for the review by the Risk Management Committee. The Internal Auditors have embedded bribery risks and anti-bribery and corruption in their scope of audit. 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.wascoenergy.com. Corporate Governance Overview Statement Integrated Annual Report 2023 140
RkJQdWJsaXNoZXIy NDgzMzc=