Sustainable Growth, Risk Management, Digital Development, Corporate Governance and Code of Conduct and Returns and Benefits for Stakeholders
The Company recognizes the importance of risk management by implementing Risk Management policies throughout the whole organization. Risk issues, potential impacts, and the possibility of the events happening are thoroughly identified. The revision of the risk issues will take place where the issues tend to occur and to prioritize the risk management plan. Therefore, the Management reports the results of risk management to the Risk Management Committee at least twice a year, to revise and evaluate the risk management of each issue that may occur.
In addition, the Company engages internal auditors from IFS Capital Limited (IFS Singapore) to review the operations and internal control of each department, to ensure the effectiveness and efficiency of the systems of the Company. Moreover, they have to review the operations procedures of each department and report directly to the Audit Committee.
The Company recognizes the need to keep pace with the changing global environment by exploring the use of technology to scale up efficiently. We hope to be able to kick start a project to digitize our entire operations by 2020-2021.
Corporate Governance and Code of Conduct
Corporate Governance is the Company’s component of sustainability. In 2019, IFS Group successfully launched a Compliance e-learning Portal across the Group. With the launch of this portal, the Company is now able to ensure that our staff are properly trained and have understanding in terms of compliance standards and expectations. In 2019, 100% of IFS’ employees successfully completed online training for Code of Business Conduct, IT Cybersecurity and Personal Data Protection Law. The Company expects more training modules in 2020.
The Board believes that operations under Good Corporate Governance will influence every area of the Company in the positive way. For instance, it will promote sustainable growth, increase returns and value to shareholders, and continuously raise its reliability among the stakeholders and others.
Returns and Benefits for Stakeholders
All stakeholders are crucial to the Company, helping the operations of the business as well as promoting the growth of the Company. The good relationship between stakeholders (shareholders, clients, business partners, banks, etc.) is essential to the products and services development of the Company. To understand the expectations, interests or any other concerns of all stakeholders internally and externally, the Company is opened for opinions and suggestions, which becomes a good source of information to help improve products and services of the Company according to expectations. Moreover, the Company continues to sustainably develop its operations to support the society and environment. The Company expects to constantly return profit and pay dividend to the shareholders.