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Scientex » Sustainability » 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.
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:
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:
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%.
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:
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:
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Selangor Darul Ehsan, Malaysia.
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