Wah Seong Corporation Berhad Annual Report 2017

THE YEAR IN BRIEF WAH SEONG CORPORATION BERHAD ANNUAL REPORT 2017 9 Wasco Coatings Finland Oy hosted a friendly basketball match with KTPUnified disabled community at Kyminkartano School Kotka, Finland SUSTAINABILITY GOVERNANCE The role of Sustainability Reporting in WSC has been consolidated under the Investor Relations, Corporate Communications and Sustainability Department (“IRCSD”). In 2017, the Head of IRCSD has been appointed as the member of the Risk Management Committee (“RMC”) of WSC where the sustainability agenda is discussed and reported every quarter. The committee which reports directly to the Board of Directors of WSC has amended its charter to include sustainability as referenced on pages 8 to 17 of the Annual Report. SUSTAINABILITY REPORTING SCOPE AND BOUNDARY During the year, the committee have presented and have obtained the Board’s approval to scope WSC’s Sustainability Reporting for the reporting period of 1 st January 2017 to 31 st December 2017 to its oil and gas division “WASCO”, being the single largest business segment of the Group. Due to the stringent requirement of the oil and gas industry, “WASCO” have adopted a sustainability framework much earlier compared to the other parts of the Group. Moving forward, the committee shall make its recommendations to the Board for the scoping of Sustainability Reporting to cover the entire organisation and its subsidiaries which includes quantitative and qualitative data relevant for sustainability reporting. The Group adopts the principle guidelines of Sustainability Reporting provided by Bursa Malaysia. SUSTAINABILITY POLICY In our company, sustainability is about delivering value for all our stakeholders in a responsible manner, wherever we operate we will develop, implement and maintain management systems for corporate sustainability that drive continual improvement and will: • Ensure our safety values remain a top priority, and seek ways to promote and improve the health of our workforce • Identify, assess and manage risks to employees, contractors, the environment and our host communities • Encourage a diverse workforce and provide a work environment in which everyone is treated fairly, with respect and can realise their full potential • Take action within our own businesses and other stakeholders to reduce our carbon footprint • Manage our businesses efficiently by promoting the use of energy- efficient solutions and innovative technology as well as reducing and preventing waste • Embrace leading industry practices and sound principles on business conduct and corporate governance • Safeguard human rights within our sphere of influence • Develop partnerships that foster the sustainable development of our host communities • Regularly review our performance and adjust this policy according to results In implementing this policy, we aspire to achieve zero harm to people, our host communities and the environment. We will engage with and support our employees, contractors, suppliers, customers, and business partners in sharing responsibility for meeting our goals. SUSTAINABILITY STATEMENT