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CHAIRMAN’S DELIVERING MSM MANAGEMENT DISCUSSION GROUP FINANCIAL
STATEMENT VALUE OVERVIEW & ANALYSIS REPORT

STATEMENT ON RISk MANAGEMENT AND INTERNAL CONTROL

Anti-Bribery Policy Statement Job Description

MSM is committed to encourage transparent and good Each role in the organisation structure is supported by
ethical conduct and upholding good image of integrity, clear description of job responsibilities which are linked
transparency and accountability in all aspects of to the vision and goals of the Group. A well developed and
its business. The Anti-Bribery Policy Statement effective job description has been designed for clarity of
has been approved on 15 June 2020 (revised on responsibilities and relationship between functions which
05 March 2021) and been uploaded in the web will enhance collaboration across the Group moving towards
(http://www.msmsugar.com/our-company/corporate-governance) operational efficiency besides supporting the succession
planning. It can retain and motivate the best talents by
Whistleblowing Policy ensuring that employee’s engagement and helps drive high
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MSM Group also adopted a whistle blowing policy (leveraging performance culture.
on FGV Whistleblowing Policy), providing an avenue for Policies and Procedures
MSM MALAYSIA HOLDINGS BERHAD Annual Report 2020
employees and external parties to report actual or suspected
malpractice, misconduct or violations of the Group’s policies The process of development and revision of policies and
and regulations in a safe and confidential manner. procedures in MSM is governed by the MSM Governance
of Policies and Procedures Policy to ensure documents
External Gift Entertainment and Hospitality Policy are thoroughly reviewed by the relevant stakeholders,
in compliance with the Malaysian laws and regulations
MSM Group recognises that the giving and accepting of
gifts, entertainment and hospitality can be part of building and appropriately approved by the authorised authority.
normal business relationships. The aim of the Policy is to The monitoring mechanism is also embedded in the
ensure that the highest standards of integrity are maintained Governance of Policies and Procedures Policy to ensure the
and that it can never be suggested that there was an documents are still relevant and reflect the current business
improper motive behind the offer or acceptance of the gift, environment.
entertainment and hospitality will unduly influence the Policies
recipient. The policy was approved by the Board.
Policies are designed to manage risks and ensure compliance
Authority and Responsibility to related requirements of the Group’s operations and
aligned to the FGV Holdings Berhad’s requirement.
Organisation Structure
New policies are formulated as business needs or risks
The Group has a comprehensive organisational structure arise and to uphold proper governance of MSM Group.
which organises its business operations. The organisational
structure provides clear lines of reporting, authority The following are the new and revised policies that were
and segregation of duties, which promotes ownership, endorsed by BGRMC and approved by the Board in 2020:
accountability, and delegated authority.
Policy Date
Limits of Authority (LOA) Owner Title Approved
A documented Limits of Authority (LOA) with clear lines Strategy Investment Policy 31 March 2020
of accountability and responsibility serves as a tool of
reference to identify the appropriate approving authority Finance Financial Closing & 31 March 2020
at various levels of management including matters that Reporting Requirement
require the Board’s approval. The new LOA of MSM Group Policy
was approved and subsequently implemented effective Property, Plant & 31 March 2020
23 November 2020. Equipment Policy
rd