Group Procurement Committee (“GPC”)

The GPC was recently formed in July 2009 following the harmonisation of two former executive level committees, namely Group IT Steering Committee (“GITSC”) and Group Procurement Tender Committee (“GPTC”). The rationale of the establishment of the GPC was primarily to achieve closer alignment to best practices recommendations by the Red Book initiated by the Putrajaya Committee on GLC High Performance, which included the consolidation of purchases across business units for better purchasing leverage and the segregation of roles and functions to avoid potential conflict of interest.

Consequently, the GPTC has been superseded by the GPC and the GITSC has been restructured to play a more strategic role in the overall procurement governance structure.

The GPC is chaired by the Chief Financial Officer and includes senior representatives from business units as well as support units. The following are the key duties of the GPC:-

(a) To review and approve tender bids and expenditure subject to the approval limits delegated by the Board;

(b) To review and recommend for approval by the Group Management Committee/Board of Directors, tender and expenditure whose values are in excess of the Committee’s discretionary power; and

(c) To evaluate and establish the rules and procedures for the tender process in the Group in order to maintain the integrity of the process at all times.

The Group Procurement Committee holds meetings at least once a month.