Wah Seong Corporation Berhad Annual Report 2020

11 ANNUAL REPORT 2020 SUSTAINABILITY STATEMENT SUSTAINABILITY GOVERNANCE The role of Sustainability Reporting in Wah Seong Corporation Berhad (“WSC”) has been consolidated under the Investor Relations, Corporate Communications and Sustainability Department (“IRCSD”). In 2017, the Head of IRCSD had been appointed as a 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 10 to 24 of the Annual Report. SUSTAINABILITY REPORTING SCOPE AND BOUNDARY During the year, the committee has presented and has obtained the Board’s approval to scope WSC’s Sustainability Reporting for the reporting period of 1st January 2020 to 31st December 2020 to its oil and gas division “WASCO” being the single largest business segment of the Company. 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 include quantitative and qualitative data relevant for sustainability reporting. The Company adopts the principle guidelines of Sustainability Reporting provided by Bursa Malaysia. SUSTAINABILITY POLICY In WASCO, sustainability is about delivering value for all our stakeholders in a responsible manner and our sustainability focus are summarised below: Governance To comply with and exceed where practicable, all relevant legislation, regulations and codes of corporate conduct and practice. Health and Safety To ensure our work does not compromise stakeholder health or safety and to explore opportunities to promote and continuously improve the safety and health of our employees, contractors and the communities we operate in. Strategic Engagement To strengthen relationships with all stakeholders to ensure the sustainable development of our business, employees, communities, business partners and customers while strengthening shareholder value. Economic Responsibility To ensure our organisation and our shareholders garner long-term and mutually beneficial economic value from our business operations. Operational Efficiency To ensure improvements are continuously made to our operations and our supply chain in line with the highest global standards of efficiency. Product & Service Innovation To continually create new products, services, and processes that elevate the customer service experience, enable us to keep our competitive standing and help shape our market segments. Environmental Stewardship To constantly measure and efficiently manage our environmental footprint in every aspect of our operations. People Empowerment To create effective, conducive and empowering workplace best practices so that our employees can be the best they can be. Advocacy & Social Responsibility To ensure we contribute in a positive and tangible manner to the markets that we serve by aligning with national and global development goals and principles.