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In FYE2020, certain governance

processes have been strengthened

after a thorough review of the Group’s

integrity infrastructure for which an

external consultant had been engaged.

The exercise involved not only the review

of the Board Charter and the terms of

reference of the Board committees, but

also entailed a review of the policies

of the Group and the anti-bribery

framework. This is to ensure that our

management practices remain relevant

and effective for the Group’s ongoing

performance.

Our Anti-Bribery policy includes inter

alia policies on ethical behaviour,

including the acceptance of the

offering of corporate hospitality

and gifts. For example, corporate

hospitality must be reasonable and

proportionate, and any gifts given or

received must not conflict with our

obligations to that party. Furthermore,

our procurement and authorisation

procedures are consistent and

transparent so that all payments are

documented and understood. These

internal control procedures are also

subject to regular review to provide

assurance that they are effective in

countering any risk of bribery and

corruption. A significant number of

written agreements entered into by our

businesses with their respective vendor

and customers include specific anti-

bribery and corruption clauses.

In addition, the Board, through the

Audit and Risk Committee reviews and

monitors all related party transactions

and conflicts of interest situation, if

any, on a quarterly basis. A Director or

member of senior management who

has an interest in a transaction must

abstain from deliberating and voting

on the relevant resolutions, in respect

of such transaction.

Cybersecurity

The Group acknowledges the

importance of cybersecurity as a critical

feature in preserving our data integrity

and maintaining trust amongst our

stakeholders. Being able to provide

continuity of our cybersecurity agenda,

will ensure protection towards the

Group’s IT network, information and

communications assets. Threats of

malicious software, phishing attacks

and spams are all matters we take

seriously. During the year, there were a

few incidents of phishing and malware

targeted at our employees. For this

reason, we have taken additional

security measures improve our

readiness to respond against cyber

attacks which are getting increasingly

sophisticated and prevent misuse and

unauthorised access to our systems.

We strive always to ensure that our

cybersecurity is up to the latest

industry standards.

Responsible Procurement

As we continue to find more effective

ways to do business and respond to

external changes and disruptions,

we recognise the influential role we

can and need to play in delivering

sustainable solutions for our

customers, suppliers and the broader

community. We interact with our

suppliers in a variety of ways including

tender and bid processes, surveys,

site inspections and events. These

interactions cover a broad range

of topics such as cost efficiencies

and ways of working as well as

environmental and social compliance.

For example, as part of International

Food Corporation Limited (“IFC”)

procurement practice, before any

major fish supply contract is executed

with a new supplier, our management

team would usually conduct on-site

visits to get assurance that the supplier

can adhere to our sustainability and

compliance standards. Sustainability

and traceability are high on IFC’s

agenda when making purchase

decisions. By only sourcing tuna

from an approved list of the fishing

vessel, i.e. those registered under the

ProActive Vehicles Register, IFC is able

to ensure it is not supporting illegal

fishing or sourcing from vessels on the

Illegal, Unreported and Unregulated

(“IUU”) blacklists supplied by relevant

tuna management bodies. For each

catch, IFC is also able to determine

when, where, and how it was caught.

Observers from National Fisheries

Authority of Papua New Guinea

(“NFA”) are on board the vessels

that catch tuna to ensure the vessels

operators are adhering to the required

standards. During FYE2020, IFC did not

incur any IUU-related violations.

The majority of the tuna that IFC

buys is skipjack and yellowfin, which

is considered to be highly fertile and

abundant. Moreover, tuna fishery in

PNG is managed under the National

Tuna Fishery Management Plan,

which regulates among others total

allowable catches of tuna, thereby

maintaining sustainable stock levels.

Moving forward, IFC intends to secure

more than tuna caught without the Fish

Aggregate Device (“FAD”).

Sustainability : Governance

kumpulan Fima Berhad

(197201000167)(11817-V)

Annual Report 2020

83