Key Sustainability Focus Areas
Providing Affordable Housing
Product Innovation
Responsible Business Conduct and Governance
Economic Value Contributed
Creating Shared Sustainable Value
We continue to take consistent steps forward to further ingrain sustainability considerations within our thinking and our processes. This section outlines our holistic and expanding approach towards maximising and sustaining our generation of shared, long-term value for all stakeholders.
Our dual core businesses of Packaging and Property are engines for growth and development, creating reliable and high-quality products that empower businesses and enrich lives, while enabling us to generate economic value for our employees and other stakeholders.
The shared value that we create, however, can only be sustained through rigorous governance and internal control practices that enforce the high standards amongst our workforce and across our supply chain.
Responsible Business Conduct and Governance
Placing Ethics and Integrity First
Aligned to
We take pride in our track record of upholding high standards of integrity, ethical conduct and governance throughout our many decades of operation, and have placed emphasis on creating a business culture that values and rewards fair, transparent and integrous conduct. To strengthen our approach, we have:
- Adopted Group-wide policies that reflect a zero-tolerance approach towards unethical behaviour, including our Code of Ethics, Anti-Bribery and Anti-Corruption (“ABAC”) Policy, Code of Conduct for Suppliers and Whistleblowing Policy
- Developed a Data Privacy Policy in line with the Personal Data Protection Act 2010 that provides specific standards and processes for our employees in handling personal data
- Established an Environmental Policy and Safety and Health Policy to define our commitments to environmental stewardship across our operations and enhance our approach towards prioritising the well-being of our workforce
- Implemented a Directors’ Fit and Proper Policy that provides guidelines to effectively assess existing and new Board members’ fitness for directorship
- Rigorously communicated all stipulated rules and regulations to relevant employees, suppliers and stakeholders, while establishing e-learning modules and conducting regular trainings and review sessions to promote greater awareness and further encourage adherence
Providing Affordable Housing
Improving Lives Through Quality Affordable Homes
Aligned to
Developing quality affordable housing for middle-to-lower-income families is a cornerstone of our long-term value creation strategy. This approach aligns with the government’s National Housing Policy to increase the accessibility of home ownership. At the same time, we also wish to expand our reach to meet the demand for affordable housing in neighbouring countries. In our efforts to enhance our ability to deliver affordable housing to a wider cross-section of local communities, we are:
- Expanding our application of Industrialised Building System (“IBS”) construction techniques, extending the utilisation of the technique to cover all wall sections of the homes we develop. This expansion has further enhanced the speed, quality and cost of construction, enabling us to pass these benefits on to our customers.
- Constantly expanding our presence across Peninsular Malaysia, with our developments and townships now located in 7 states. In line with our ‘Cross Border Development Strategy’, we have also expanded our footprint into Thailand and Indonesia.
- Providing indirect social and economic benefits to local communities through our development of new infrastructure such as roads, while committing to source our materials from local vendors
OUR PERFORMANCE:
We remain on track to achieve our long-term target of completing 50,000 affordable homes by 2028.
As of FY2023, the total percentage of completed units of affordable homes sold is approximately 99.7%.
Product Innovation
Pushing Boundaries in Pursuit of Sustainability
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The continuous innovation of our products and processes is a central aspect of our culture as an organisation, enabling our three Drivers of Growth by empowering the expansion of our capacity, improvements to efficiency and enhancements to the value of the products we develop. Supported by strong collaborative relationships with key customers within the consumer and industrial packaging markets, we have proactively introduced innovations which enhance the sustainability of our products by reducing material and energy use, and minimising the waste we generate. We are also committed to promoting greater circularity within the plastic economy and supporting our customers’ sustainability agendas by developing tailor-made recyclable flexible plastic packaging (“FPP”) solutions.
Key elements of our approach to product innovation include:
- Investing in new machinery, technological advancements such as automation, and factory enhancements
- Leveraging our status as a fully integrated end-to-end FPP producer to develop solutions that fulfil the specific requirements of our customers in the consumer market
- Downgauging our stretch films for greater resource efficiency, while still meeting customers’ quality and performance standard
- Developing base films that enable the creation of recyclable FPP structures
- Developing products that utilised recycled plastic, such as post-industrial recycled (“PIR”) and post-consumer recycled (“PCR”) resin, as an input
- Increasing our range of recyclable packaging products and paper-based laminates
- Introducing process innovations that enable reduced material use, energy use and waste generation
Economic Value Contributed
Creating Shared Value Between Our Business, Stakeholders and Countries of Operation
Aligned to
Our business activities make a substantial impact on the national economies of the countries in which we operate, particularly that of our home country Malaysia. The impact we make is derived from the direct economic value we generate – through our revenues and the resulting taxes we pay – and indirect value from the jobs we create, suppliers we appoint, products we innovate, capital and infrastructural investments we make, and much more.
The efforts we undertake within this scope include:
- Maximising the economic value that our operations generate by adhering to well-established and refined best practices
- Continually enhancing our efforts to communicate with and deliver growing value to our customers, suppliers, employees, governments and regulators, investors and shareholders, and local communities
OUR PERFORMANCE:
