Page 9 - MMC Ports Newsletter-2023_Oct-Dec_ISSUE

2023 OCTOBER - DECEMBER ISSUE 9

RESPONSIBLE MANAGEMENT OF RISKS

Risk management is quintessential in navigating through today’s volatile operating landscape for every port,
empowering the assessment and mitigation of potential threats behind each decision and consideration. The
following paragraphs outline all of the port’s risk-management strategies and policies.

NORTHPORT PENANG PORT

Northport has established procedures for identifying Guided and advised under the stalwart leadership of its
and evaluating risks associated with its operations. This RMC, Penang Port Enterprise Risk Management (ERM)
involves a thorough assessment of potential threats and plays an important role in identifying and assessing
vulnerabilities that could impact the port’s objectives and risks, preparing the port for any potential losses that may
decision-making processes. To achieve this, Northport interfere with an organisation’s operations and objectives.
conducts quarterly reviews within each division and The established risk register for all departments are
department to assess Corruption Risk Management (CRM). reviewed periodically to ensure effective risk mitigation
Whenever risks are identified, Northport implements and initiate an action plan should any threatening risks
strategic measures to mitigate and control these risks, materialise.
proactively taking specific actions to enhance security,
safety and operational efficiency throughout the port.
These policies, procedures and guidelines include
Northport Enterprise Risk Management (ERM) Policy and
Framework, Enterprise Corruption Risk Procedure, and
CRM.

PTP

To ensure all risks were identified and reviewed, PTP has
established the ERM Policy and Framework, which outlines
the basis of enterprise risk management practices in the JOHOR PORT AND TANJUNG
Company. Business owners are responsible for monitoring BRUAS PORT
their identified risks and evaluating the controls and
effectiveness. The Risk Management Committee oversees Proper risk management assessment is specifically
the overall risk management practice in PTP. conducted for both ports regarding any decision making
including tender and projects based on Johor Port’s
Enterprise Risk Policy and Framework. Johor Port’s Group
Risk Management Committee (GRMC) meets quarterly to
review risk profiles for Enterprise Risk and Corruption Risk.
KONTENA NASIONAL
The Corruption Risks will be tabled to the Audit Committee
To ensure the responsible management of risks, Kontena and Board on a quarterly basis, with the Enterprise Risk
Nasional Enterprise Risk Management Policy has been in tabled directly to the Board in the same timeframe. Johor
place since 2012, aligning with ISO 31000 guidelines and Port and Tanjung Bruas Port will also undergo several
practices. audits performed by third parties including the Certification
Body and MMC Audit.
Kontena Nasional Corruption Risk Management Procedure
has also recently been established to ensure adequate
measures are in place.

Decisions are made as per the Kontena Nasional Limit of
Authority (LOA) and annual audits are conducted to ensure
the absence of corruption in the aforementioned dealings.