Board Risk & Compliance Committee

  • 1. Introduction

    1. The Board of Directors recognises that for Straits Inter Logistics Berhad (“Straits”) and its subsidiaries (“the Group”) to achieve its corporate objectives within acceptable risk, the Group needs to enhance its existing risk management process.
    2. The Terms of Reference (“TOR”) of the Board Risk & Compliance Committee (“BRCC”) aims to guide the BRCC with respect to its delegated responsibilities to assist the Board in fulfilling the Board’s statutory and fiduciary responsibilities in relation to governance, ethics & integrity and risk management.
    3. In addition, the TOR also recognizes and aims to adopt related better practices and guidance from the following documents:-
      1. The Malaysian Code on Corporate Governance 2017 (“MCCG 2017”) issued by the Securities Commission
      2. Statement on Risk Management and Internal Control: Guidelines for Directors of Listed Issuers
      3. The Corporate Governance Guide – 3rd Edition issued by Bursa Malaysia Securities Berhad
    4. The key personnel of the business units are involved in the development of key Risk Profile/Register and the Corporate Risk Scored Report, its risk management tools/procedures, implementation and the continuous monitoring of these risks.
    5. The BRCC delegates to the Risk Management Committee (“RMC”) the responsibility for identification and management of operational risks, training and ensuring effective implementation and maintenance of operation and divisional level risk management system. In this respect, RMC will assist the BRCC by assuming direct responsibility for the routine risk management activities within the Group.
    6. The RMC provides updates on key risk management issues to the BRCC by providing regular reporting of its activities
    7. The TOR shall be assessed and reviewed and updated as and when necessary especially when there are changes to the Listing Requirements and MCCG 2017.

    Any change to the TOR shall be recommended to the Board for its approval.

  • 2. Purpose
  • 3. Roles
  • 4. Membership
  • 5. Meeting Procedures
  • 6. Duties