Risk management is part of GCG implementation to identify and analyze the risks encountered by the company, to establish appropriate risk and control limits, as well as to oversee compliance with the predetermined limits. Implementation of risk management is expected to protect the Company from significant risks that can hinder achievement of corporate objectives.
Risk management is conducted by seeking comprehensive, up-to-date information for the Board of Directors and management to anticipate and mitigate risks at the earliest instance. Through reliable risk management, it is expected that the company can map risks that may hamper the achievement of targets, minimize potential losses, increase stakeholders’ confidence, and improve work efficiency and effectiveness – all measures that will ultimately result in improved performance and keen competitiveness. The Company’s business focus on particular projects requires a process of risk assessment and the ability to control and mitigate the existing risks prior to project implementation.