While generating economic value on behalf of its stakeholders, the Group also places due importance on the concept of sustainability which encompasses, apart from financial performance, environment management, legal and regulatory compliance and fulfilment of its social responsibilities, among others. In the conduct of its business, the Group is guided by high ethical and integrity standards fostered by a corporate-wide culture of responsibility.
In place within the Group are policies, written or otherwise, and practices that help identify and manage financial, operational and environmental risks to both its current and future profitability. Sensitivity to market needs, strong corporate governance and prudent financial management are the bedrock which the Group strives to build its sustainability upon.
Reflecting the role played by the Group as a good corporate citizen, its business operations are conducted in accordance with all applicable laws and regulations pertaining to product safety, environmental protection, employment opportunities, social responsibilities, etc.
The Group recognizes the increasing relevance of managing risks and opportunities to its economic viability and sustainability as well as the various benefits, both tangible and intangible, that it brings to all its stakeholders in the long run.
From the sourcing of materials to the discharge of effluents, particular care is taken to ensure that only practices which are not harmful to the environment are adopted. Research and development on environmentally-friendly manufacturing processes, the use of organic or biodegradable materials and treatment of effluents prior to their discharge or disposal and energy-saving initiatives are some of the measures undertaken on a regular basis. In addition, training and other activities are organised to promote awareness of the environment among the Group’s employees. In the manufacturing of cables, for instance, the Group’s associated company complies with ISO 14001:2015 which emphasizes resource management efficiency, wastage and cost reductions and environmental impact assessment. Treatment of discharge from the production of various consumer products such as toiletries by the Group’s subsidiary company, Coscolab Sdn Bhd., is in compliance with standards set by the Department of Environment. The aforesaid policies are also extended to its property development activities through the use of sustainable resources and introduction of water and energy conservation provisions into the green environmental design of its units.
Among the concrete measures in place are the setting up of internal dedicated committees to monitor production processes (biological and physical-chemical), usage of chemicals (activated carbon, alum granular, etc). Training and visits by local authorities on proper treatment of waste and effluents were also organized regularly in order to instill a culture of responsibility and accountability in all employees.
Another resource contributing to sustainability is that of human development which the Group engages in by way of creating a work environment conducive to a good employee relationship, staff harmony and morale. Skills training and career development in line with staff productivity, team work and personal enhancement form part of the Group’s social responsibilities. Through the organisation of staff welfare activities, company functions and sporting events, employees are encouraged to nurture a family-like atmosphere in the workplace. In addition, the Group offers non-discriminatory employment opportunities and rewards its employees fairly in accordance with their contributions.
Training sessions and seminars were arranged for staff from all departments including Accounts & Finance, Production, Quality Control Warehousing, Research & Development as well as the Human Resources covering topics such as Accounting practices, Halal assurance, waste management and payroll administration.
The Group also contributes to the community of which it is an integral part by reaching out to the society at large, especially those who are less privileged, regardless of race or religion. Monetary and other contributions are made to deserving members of society and charitable organisations thereby affording the Group an opportunity to fulfil its societal responsibilities in a small but meaningful way.