SPC is committed to strengthen its enterprise risk management (ERM) framework to ensure a robust approach to manage the Group's business risks.

In 2002, SPC established the Enterprise Risk Management Committee to identify and measure the risk profile of the Group, monitor the administration of risk mitigation efforts and costs, as well as report on the residual risks.

In January 2008, the Board established a Risk Committee to enhance the ERM framework and processes, and provide oversight of SPC's risk policies, profile, mitigation strategies and treatment. To further assist the Risk Committee, a separate Risk Group headed by the Chief Risk Officer was established in April 2008. The Risk Group is tasked with the development of an integrated risk management framework to ensure that organisational best practices in risk controls and mitigation initiatives are implemented.

Please see Building a Sustainable Enterprise – Enterprise Risk Management in SPC's Annual Report.