A 64-year-old man with long-standing type 2 diabetes and hypertension attends for cardiovascular risk assessment. He is a non-smoker. His lipid profile shows total cholesterol 5.2 mmol/L, LDL 3.1 mmol/L, HDL 1.0 mmol/L and triglycerides 1.8 mmol/L. Using the Australian absolute CVD risk calculator, his 5-year risk is 18%. According to current guidelines, what is the most appropriate management regarding lipid-lowering therapy?