All risks are to be identified and properly managed, including ensuring a safe workplace for the employees and identifying potential environmental threats and other hazards to operations based on world standards and best practices.
B. Risk Policy
It is the policy of the Company to achieve best practice in the management of all risks that threaten to adversely impact its operations, employees, customers, assets, functions, business objectives, and members of the community where it operates.
In line with this, the Company endeavors to identify all risks and properly manage these risks, in order to ensure a safe workplace for the employees and protect its properties. This also includes identifying potential environmental threats and other hazards to operations based on world standards and best practices.
The Company has set-up a sound risk management framework to effectively identify, analyze, monitor, assess and manage key business risks.
The successful implementation of the policy requires a consistent and systematic approach to risk management at all levels of the organization. Risk Management is a major component of strategic, operational and line management responsibilities and is integrated into the business planning processes of the Company.
Below table shows the Company’s risk exposures, management policies, along with the objectives behind the policy for each kind of risk:
C. Control System
On a regular basis, the Company reviews and assesses the various risks it faces. Regular reports are submitted to management, and communication lines among the different departments put in place to monitor, address, and take necessary actions to resolve the risks.