CFSL Integrated Report 2025

CORPORATE GOVERNANCE

114

Risk Management

Statutory Disclosures

Financial

iv. The Board Investment Committee (‘BIC’)

Mandate

To assist the Board of the Group by recommending investment and/or acquisition decisions within the mandate of the Committee or any other matter delegated to it by the Board. The BIC meets on an ad hoc basis as and when there are investment projects to be considered

Composition:

• 3 Non-executive Directors namely Mr Tim Taylor (Chairperson), Mr Amédée Darga and Mr Colin Taylor; • 2 Independent Directors namely Mrs Aisha C. Timol and Ms Sharona Ramdoss; and • 1 Executive Director, namely Mr Ambrish Maharahaje.

During the year under review, the BIC met once to discuss a potential strategic investment opportunity.

v. The IT & Digitalisation Committee (‘ITDC’)

Mandate

To assist the Board of CFSL by reviewing strategic investment in technology and technology related initiatives within the scope of the committee.

Composition:

• 2 Non-executives Directors namely Mr Amédée Darga (Chairperson) and Mr Matthew Taylor; • 1 Independent Director namely Mrs Jenny Chan; and • 1 Executive Director, namely Mr Ambrish Maharahaje. During the year, the composition of the ITDC was reviewed such that Messrs Fareed Jaunbocus and Denis Motet have stepped down from the ITDC.

“During the year, the Committee met five (5) times to oversee and guide the Company's strategic and operational priorities. Its agenda included a review of progress on a range of strategic initiatives, focusing on milestones achieved, challenges faced and corrective measures adopted. The Committee also conducted an assessment of current IT and cybersecurity risks and discussed the key IT challenges the organisation faces. Updates were provided on efforts to accelerate process automation and digitalisation - measures intended to improve efficiency and strengthen data integrity. In addition, the Committee recognised that disaster recovery (DR) plans have been developed and are now in place for all critical systems, ensuring the Company is prepared for potential disruption. A detailed progress report on the ‘MoPay’ feature was presented, covering its deployment status and performance metrics. Considerations were also made with respect to the Company’s plans for integrating Artificial Intelligence (AI).”

Mr Amédée Darga Chairperson