Sasbadi Annual Report 2021

Financial Performance Overview In terms of reporting and communication of information, we strive to: Regulatory Compliance Regulatory compliance is critical for protecting the Group’s integrity and reputation as well as fostering our stakeholders’ trust. We ensure ongoing efforts in developing effective compliance related programmes and policies for our operations. Key regulations applicable to our operations are listed but not limited to the following: • Bursa Malaysia Main Market: Listing Requirements • Applicable Accounting Standards • Employment Act 1955 • Personal Data Protection Act 2010 During the FYE 31 August 2021, there were no fines (monetary and non-monetary sanctions) imposed for non-compliance with laws and regulations onto the Group. Ethics and Integrity Our commitment to business is focused on strong corporate governance and prudent management in view of challenging internal and external environments. We strive to achieve this by observing the following practices. Further details of the below practices can be found on our website. • Whistle Blowing Policy • Code of Conduct • Anti Bribery & Corruption Policy • Board Charter • Corporate Governance and Compliance • Malaysian Anti-Corruption Commission Act 2009 • Direct Sales and Anti-Pyramid Scheme Act 1993 • Copyright Act 1987 MATERIALITY ASSESSMENT Part of our ongoing effort is to identify, assess and prioritise sustainability matters that are relevant and significant to the Group and our stakeholders. Organising and reviewing these sustainability matters would enable the Group to manage them more effectively. As such, they are categorised into the three pillars of sustainability that are the EES. It is appropriate to note here that the impact of the COVID-19 pandemic highlights the importance of dynamic materiality. The Group has seen certain EES issues, particularly those related to managing human resources such as employee health, safety and well-being, presenting heightened risks to the Group’s operation and sustainability. Management’s timely response in adopting various measures to address these matters proved crucial in ensuring the safety of our employees and our business continuity. The impact of the pandemic as well as the Group’s commitments and practices across the material EES matters are further elaborated in the following sections. SOLIDIFYING ECONOMIC PERFORMANCE The pandemic has caused huge disruptions to the Group’s operations, requiring Management and BOD to stay vigilant and act responsively to ensure our business continuity. As such, fundamental reviews of the Group’s business and its strategies against the operating environment were conducted. Regular and ad-hoc meetings with respective heads of departments were held to formulate strategies that effectively catered to the market’s current needs. Under the current circumstances, it has become clear that being adaptive and responsive is key to the Group’s relevance and sustainability. • Provide timely and relevant information to our stakeholders to aid their decision-making, especially during these unpredictable times when it is even more important to gauge the Group’s standing. A dedicated team was formed to ensure the consistency, completeness and timeliness of our reporting and to report to the Management and BOD on a frequent basis. • Generate sustainable financial and economic returns without compromising on the value to our stakeholders in order to ensure the sustainability of our business. Please refer to the Management Discussion and Analysis section of this Annual Report for more details regarding the Group’s financial performance. 2 1 (continued) SUSTAINABILITY STATEMENT 35 ANNUAL REPORT 2021