Page 31 - KWAP_AR2022

foR betteR vAlue deliveRy Annual Report 2022 29

GOVERNANCE
Material Matters Definition Stakeholders Strategy and Opportunities

Promoting a more transparent, N/A • Corporate Governance Framework has
cohesive and efficient been developed to enhance the corporate
approach in managing governance in KWAP by streamlining
corporate governance with and reinforcing the various governance
effective guardrails elements
7 Corporate • In line with enhanced operating model,
Governance the enhanced structure of Management
Committees and Working Groups
in KWAP was approved in order to
streamline and enhance the effectiveness
of the committees for the decision-
making
Achieving balanced • Investment • KWAP Investment Policy was amended
empowerment with clear Community to incorporate KWAP Investment Beliefs
guardrails in streamlining and on ESG
Investment
8 strengthening investment • Risk Analytics was enhanced by
Governance
governance incorporating a forward-looking scenario
analysis into stress-test exercises
covering a broad range of emerging risks
Commitment and manifestation N/A • In order to keep the workforce mindful
of the anti-bribery and and knowledgeable about identifying and
corruption stance avoiding corruption, several programmes
and events were conducted such as GLIC
Integrity Event 2022, KWAP Business
Associates Outreach Programme, KWAP
Integrity Day 2022 and Integrity Talks
• Conducted by Institut Integriti Malaysia
(IIM) by using its Integrity Assessment
Tool (IAT), KWAP scored 84.17% on
Anti Bribery &
9 the IAT, putting it at the high level of an
Corruption
organisation that has best practices in
ethics and integrity
• KWAP Organisational Anti-Corruption
Plan (OACP) was launched in February
2021, with 57 initiatives to be undertaken
in a period of five years until 2025. For
the second-year of implementation in
FY2022, KWAP has achieved a 56%
completion rate, or the completion of 32
out of 57 initiatives