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ENRICHING PERFORMANCE AND COMMITMENTS ENRICHING ACCOUNTABILITY AND INTEGRITY ENRICHING RESILIENCE AND SUSTAINABLE GROWTH OTHER INFORMATION

Risk Description Key Actions
The increasing reliance on technology and Established KWAP Cyber Security Framework
digital infrastructure has heightened the risk and Programme that aims to manage risk of
of cyberattacks. As technology evolves, cyber cyberattacks and strengthen the monitoring
Cybersecurity security risks are likely to grow, leading to security control to protect KWAP.
risks greater losses from cyber theft and cyber
terrorism, including decreased productivity
due to rising cybercrimes. Both cybercriminals
and cyber security professionals are expected
to widely adopt artificial intelligence, driving Key actions are detailed on page 33 to 37 of this
rapid changes in this sector. Integrated Report.

Comprises of two types of risk - ESg risks Establishing the Sustainability Risk
which encompass environmental, social, Framework (Framework) and Sustainability
or governance events that could negatively Risk Policy (Policy), as the governing
Sustainability impact an organisation’s profitability due to documents that serve as guardrails
risks adverse sustainability effects; climate-related for the KWAP Sustainability Roadmap.
risks on the other hand involve the potential
negative physical impacts of climate change
on an organisation, affecting lives, livelihoods,
health, economic and cultural assets, and
infrastructure. The challenge lies in mitigating
short-term policy impacts whilst managing Key actions are detailed on page 33 to 37 of this
long-term benefits. Integrated Report.

Keeping the aforementioned factors in mind, KWAP Consistent with the adoption of ISO31000 Enterprise
will continue to focus on mitigating risks and building Risk Management Standard, KWAP will continue to
resilience in 2024 through continued investments innovate our Risk Infrastructure through the introduction
in risk infrastructure and technology, cybersecurity, of new risk mitigation measures and the revamping of
sustainability, and contingency planning. KWAP will our current risk governance, ensuring all risks are duly
continue solidifying collaboration and communication and promptly managed.
within KWAP to ensure maximum agility and
responsiveness to changing market conditions. In conclusion, it is essential to acknowledge that
the future is unpredictable, and unforeseen events
KWAP anticipates continued digital transformation could always impact the risk outlook and directions
internally and across the organization, accelerated for 2024. KWAP will stay informed, adapt to changing
adoption of sustainable practices through the circumstances, and make informed decisions based on
establishment of the Sustainability Risk Framework and current information and expert advice.
Sustainability Risk Policy, and increased focus on social
and environmental responsibility.

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