The company recognizes that systematical Risk Management is one part of The Corporate Good Governance. Risk Management is an important foundation to help achieving company objectives with addition to help growing as well as helping sustainably expanding business and continuity generate the appropriate rate of return to shareholders. Risk Identifying and Managing as a System will help improving the company decision process, supporting identifying business opportunities and do mitigating any negative impacts from future important events. The Risk Management Policy comprises of the followings:
- Company run its operation under the acceptable risk appetite to achieve company’s objectives with responding to stakeholders’ expectation by including Risk Management as key part of annual business plan, daily routine operations as well as any project management.
- Executive and Management team members and all employees are risk owners who have full responsibility to identify and assess risks related to their job responsibility. They also determine the appropriate risk response to measure and to manage them.
- Risks that have impacts against achieving company’s objectives must be managed as follow:
- Identify and register risks in time.
- Assess likelihood frequency that risks will occur and their impacts.
- Managing the risks by taking into account of the costs and benefits from the risk treatment.
- By continually following up and monitoring of all risks for assuring that. The Risk Management Framework is done appropriately under COSO-ERM 2017 principals as specified in the Risk Management Manual.
- All severe and higher severe risks that might have directly impacts to company’s business plans and strategies must be reported to The Board of Director.
- To create and promote Risk Management Culture to all executive and management and all employees to recognize the importance of risk management in their operation throughout the company.
