The
Department is also responsible in addressing any contractual dispute and to refer matters
to panel of solicitors, principally in areas of litigation or esoteric area of laws. This
is to ensure that rights and interests of the Group are adequately protected.
As part of the
Group’s measure to transfer the risk to an independent body, the Department is tasked
to put in place various insurance policies covering works at site as well as the
Group’s assets against any unforeseen and sudden physical damage with a view of
minimizing financial losses. The Department is to ensure that a proper amount of insurance
claim is paid within a reasonable time by continuous and accurate monitoring of the claim
process.
In the light of
growing complexity and diversification in the Group’s nature of business, the
Department has taken an initiative to introduce Enterprise Risk Management (ERM) mainly to
develop systematic ways of identifying, analyzing, assessing and mitigating group wide
risks. The final result of the exercise is to have an integrated Corporate ERM Policy and
Plan and to incorporate them within the organisational structure, human resource
management framework and operational systems and procedures.
As a Joint
Company Secretary to PECD Berhad and the Company Secretary to all the subsidiaries of
PECD Construction Sdn Bhd, it is the responsibility of the Department to ensure
compliance to the Securities Commission (SC) Guidelines, the Malaysia Stock Exchanges
Berhad (MSEB) Listing Rules and all other statutory provisions, which includes filing of
requisite forms and issuance of announcements to the SC and the MSEB.
It is the task
of the Department to ensure that the Board functions effectively by ensuring that the
board procedures are met and compliance issues are regularly briefed. The Department is
also to arrange for regular education program and training sessions for the Board members
in ensuring that the Board is kept abreast with the latest development and changes in law
and commercial practices.
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