Straits Inter Logistics Berhad (“Straits” or the “Company”) and our subsidiaries (“the Group”) remain committed to conducting its businesses in a sustainable manner.
The Board of Directors (“Board”) is pleased to present its Sustainability Statement for the financial year ended 31 December 2020 (“FYE 2020”) which reflects on the sustainability efforts undertaken by the Group in the area of sustainability management. We perceived corporate sustainability as our commitment to create long term value for our shareholders, environment, economy and society through innovation and overall operational excellency. We understand our decisions today have an impact on our stakeholders and the success of their businesses in the future.
It is imperative for us to carry out our activities responsibly and with integrity. Our people are expected to behave in an honest and ethical manner in accordance with our policies, business rules and guidelines.
Our Sustainability Report 2020 is in accordance with Bursa Malaysia’s requirements and its Sustainability Reporting Guidelines.
In addition, the Group is taking into consideration the increasing importance and relevance of corporate sustainability measures in view of the COVID-19 global pandemic and its devastating impact on lives and livelihoods.
We are committed to implementing initiatives for the responsible management of Economic, Environmental and Social (“EES”) sustainability.
1. Governance Structure
The Group develops a Sustainability framework with assessment of environmental, economical and social factors that revolve around the business environment, industry, countries and various stakeholders that we are operating and working with, to address our sustainability agenda and align our business focus towards driving sustainability growth. We hold onto our framework as a tool to lead us to an effective long-term sustainability journey.
We had in January 2020 established our Sustainability Management Committee (“SMC”) which comprises key management personnel with direct reporting to the Group Managing Director (“Group MD”). SMC is to provide leadership and direction for the implementation of sustainability initiatives and reporting throughout the Group and all our subsidiaries.
SMC is responsible for the development of management action plans towards achieving the Group’s goal of being a sustainable organisation and drives various initiatives to identify and improve pertinent economic, environmental and social matters and other areas of concerns with the ultimate aim of achieving the goals of the Group.
2. Stakeholder Engagement
As part of its sustainability process, specifically in determining vital matters that are crucial for the Group and the environment, Straits continues to actively engage various stakeholders as our business involves environmental related activities. Thus, our stakeholders are not limited to authorities, clients, employees and shareholders only, but the communities as well. The Group has always been working closely with various stakeholders, which allows Straits to fully comprehend and complement various expectations and requirements from the stakeholders and enables us to better manage matters pertaining to sustainability and materiality. Hence, this directly improves our business operations and standings.
The engagement approach to key stakeholders can be summarised as below:
||Areas of Interest
|Shareholders or Investors||
3. Sustainability Matters
The SMC has identified and assessed material sustainability matters that are relevant to the Group’s business operations and influence stakeholders’ decisions. These material EES issues are determined based on their likelihood and potential impact on the Group’s business and long-term growth.
4. Key Sustainability Matters
The Group remains committed to carrying out its corporate responsibilities in preserving and creating shared values for its stakeholders even in challenging times. The Group continues to focus on managing its Material Sustainability Matters by seeking new areas where it can play a part in long-term value creation.
This Statement has been approved by the Board on 18 May 2021.