Creating Shared Sustainable Value
In the past year, we have taken firm steps to further ingrain sustainability considerations within our thinking and our processes. This section outlines our holistic and expanded approach to sustainability, geared towards maximising shared, long-term value.
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 to 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 highest standards amongst our workforce and across our supply chain.
Responsible Business Conduct and Governance
RIGOROUS GOVERNANCE TO ENSURE ETHICAL BUSINESS PRACTICES
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 further strengthen our approach, we have:
- Adopted Group-wide policies that reflect a zero-tolerance approach towards unethical behaviour, including our Code of Ethics and Anti-Bribery and Anti-Corruption (ABAC) Policy
- Extended our commitment through adoption of Code of Conduct for Suppliers
- Ensured effective communication of our policies towards all employees and suppliers, including through briefings to new employees, an e-learning module for our ABAC Policy and by publishing our policies on our corporate website
Providing Affordable Housing
HOLISTICALLY ENRICHING OUR AFFORDABLE HOUSING STRATEGY
Developing affordable housing for middle-to-low-income Malaysians across Peninsular Malaysia.
Developing quality affordable housing for Malaysians is a cornerstone of our long-term value creation strategy, aligning with the government’s National Housing Policy and providing more middle-to-lower income Malaysians with the security of owning a home. In seeking to deliver shared and sustainable value to a greater cross-section of the Malaysian populace, we are:
- Adopting construction techniques, such as the Industrialised Building System (IBS), which enhance the speed, quality and cost of construction
- Constantly expanding our presence across state boundaries guided by our Cross Boundary Development Strategy, with developments now located in 7 states across Peninsular Malaysia
- On track to achieve our long term target of completing 50,000 affordable homes by 2028
AN INTEGRATED APPROACH TO INNOVATION
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 expansion of our capacity, improvements to efficiency and enhancements to the value of the products we develop. Guided by collaborative relationships with our consumer and industrial market customers in the Packaging Division, we have proactively introduced innovations which enhance the sustainability of our products by reducing material and energy use, and waste generated per unit of output.
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 packaging producer to develop end-to-end solutions that fulfil the specific requirements of our consumer market customers
- Downgauging our stretch films for greater resource efficiency, while improving its film performance
- Developing base films that enable the creation of fully recyclable flexible plastic packaging structures
- Increasing our range of fully recyclable or fully compostable packaging products
- Introducing process innovations that enable reduced material use, energy use and waste generation
Economic Value Contributed
AN ENGINE FOR SUSTAINABLE DEVELOPMENT
Our business activities make a substantial impact on the national economies of the countries in which we operate, particularly that of our home country of 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.