50 Good Corporate Governance Principles and Code of Business Ethics (Edition 2022) The Board appoints Risk Oversight Committee (ROC) consisting of at least three directors namely independent director, non-executive director and the President, to serve a term in tandem with directorship, or as determined by the Board. The ROC has the following duties: • Deliberate on enterprise risk management policy and framework, along with monitoring and evaluating results of the risk management framework and policy implementation, prior to proposal for the Board’s approval. • Determine Risk Appetite and Risk Tolerance for continual efficiency. • Oversee risk identification exercise, impact assessment and probability of those risks emerging, consider organizational risk management plan and processes. • Provide advice and support to the Board, Management and ROC, on appropriate and efficient risk management of the Company’s business operation. • Deliberate and validate performance against Corporate KPIs. Details of ROC’s duty by its charter are in the Annex. Risk Oversight Committee
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