118 Kenanga Investment Bank Berhad Annual Report 2021 Our Sustainability Approach About This Report We Are Kenanga Message From Chairman and GMD FOCUS AND STRATEGIC PRIORITIES FOR 2022 As we head into 2022, the pandemic has reinforced the importance of internal controls as part of sustainability efforts which would enable organisations to be better positioned and to withstand the long-term business goals. Towards achieving such objective, GRCS will continuously review and assess for implementation of robust compliance and ethics strategies and to ensure that business activities are conducted in line with the principles of good corporate governance. FORWARD LOOKING STATEMENT Kenanga Group takes pride in its strong corporate governance in ensuring that business is conducted in a fair and transparent manner. Since the start of COVID-19 pandemic, and as we enter into the endemic phase, Kenanga Group’s strategy and operations have been constantly evolving to adapt to the changes in the business environment in order to remain resilient and significant while at the same time balance the need to maintain robust internal controls. It is therefore Kenanga Group’s aim in 2022, as part of its endeavour to meet the business goals, to continue demonstrating a strong corporate governance culture that will assure sustainability of its activities in the long run thus contributing the general market at large. • Ensure Cybersecurity and Data Protection The pandemic has accelerated digital transformations which has led to changes impacting business operations and increased more personal data and clients’ information being transmitted and stored electronically. Now, essentially all business processes have to exist digitally to accommodate a combination of remote, hybrid and on-premises work. Therefore, cybersecurity is critical and Kenanga Group has to have strong capabilities at this front. For this reason, GRCS with the other departments in Kenanga Group will remain agile, innovative and up-to-date in order to ensure adequacy of the Group’s cybersecurity governance. • Application of Technology in Managing Financial Crimes Risks The adoption of innovative technologies to improve the effectiveness of managing financial crimes risks is becoming more imperative with the heightened emphasis by the regulators for approaches to address cyber threats. Kenanga Group has always prioritised such risks through the implementation and management of cybersecurity measures. The established digital governance ensures business operates in an ethical manner while supporting digital development involving new and emerging areas of focus. Moving forward, GRCS will ensure to keep up-to-date with developments in technology and the threats that come with it. • Raise Standards of Ethics and Integrity Culture Further development and enhancement of governance practices as part of the Environmental, Social and Governance (“ESG”) measures within Kenanga Group continues to be a primary aim towards achieving sustainable and long-term growth in all aspects of the businesses and operations. In this regard, we believe ethical culture plays a foundational and underlying force that boosts employee motivation and productivity that could result in the delivery of greater value to all stakeholders towards fulfilling Kenanga Group’s ESG goals and ambitions. Kenanga Group and GRCS acknowledge this and will work on moulding the required ethical culture across the Group in line with the developments around ESG while factoring in the impact brought about by the COVID-19 pandemic. • Review and Assessment of Fraud, Bribery and Corruption Risks The effective implementation of Section 17A of the MACCA imposes accountability on Kenanga Group to understand corruption risk specific to its business activities. With such requirement being introduced, risk assessments are required to identify corruption vulnerabilities and to devise strategies to mitigate the risks that can be caused by such vulnerabilities. Therefore, it is a main focus of GRCS in 2022 to develop the FCRA covering business activities of the Group as a means to mitigate and manage such risks. • Working Together to Increase Awareness As it was in the previous years, Kenanga Group is committed to leverage and use opportunities to assist employees to upskill and expand their knowledge on matters related to compliance, ethics and governance. Online training and awareness will continue to keep the employees abreast of the diverse regulatory and operational changes. This will be supported by constant and continuous communication, as well as periodic knowledge sharing sessions amongst team members in Kenanga Group.
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