The Board provides guidance on the risk management practices and has overall responsibility in determining the business risk levels that is acceptable to the Group in achieving its corporate objectives. The Company engaged the Internal Auditors to conduct annual risk assessment or review and establish and review the risk management framework for the Company. The Internal Auditors would present to the Audit Committee a risk management report highlighting potential risks relating to the Company’s business operations and measures to mitigate such risks. Although risks cannot be completely eliminated, an effective risk identification and management process will reduce the uncertainties in achieving the Company’s business objectives and allow the Company to take advantage of opportunities that may arise.
The Company believes in timely communication and disseminates all announcements to the Singapore Exchange via SGXNET. The Company encourages participation of shareholders at the Company’s Annual General Meetings where our directors, management, company secretary and external auditors will be present to address shareholders’ queries on the Group’s business.