Risk Management aims to manage every risk by identifying, analyzing and mitigating risks that may arise from the Company’s operations. In line with the business development and high level of competition, the risks faced by the Company are increasingly complex. As these risk factors are beyond the Company’s control, therefore the Company pays great attention to and continues to monitor the encountered risks, especially the risks that have significant impact on the Company’s activities so as to be able to anticipate such risks as early as possible.
The risk management in the Subsidiaries includes identification, assessment, management and monitoring of risks in a coordinated and integrated manner. Implementation of risk management is the responsibility of all levels of management in accordance with their respective functions and authorities.
The effectiveness of the Company’s risk management system is evaluated by the Internal Audit team. The team conducts periodic assessment of the performance and effectiveness of risk management implementation in the Company and its Subsidiaries to ensure that the Company is always aware of potential business risks. The risk assessment is adjusted to the level of risk and level of control to be then used as a follow-up reference for the improvement of internal control and risk management.