A core pillar that upholds the concept of sustainable development is e ective risk management practices that are applied to manage our material sustainability matters. The Enterprise Risk Management (“ERM”) framework was adopted into the Group’s business model back in 2012 as a step to promote sound corporate governance and assist our Management team in decision-making processes. The framework further provides guidance on how to identify, evaluate, minimise and monitor risks associated with our daily operational activities that may impact our business performance and stakeholder interests in the short-, medium- and long-term. With the support of our Board of Directors and Risk Management and Sustainability Committee, our Risk Management Department analyses and reports on key risks to the Group’s overall performance on a quarterly basis. Overall, we seek to achieve a sustainable balance between taking calculated risks to achieve competitive advantage and managing daily operations to ensure optimal business performance. Cognisant of the rising interest in ESG considerations by our stakeholders, we continue to work towards integrating social and environmental aspects into our risk reporting strategy in the years to come. For further information on Tropicana’s Risk Management practices, as well as the key risks we encountered throughout FY2023, refer to page 161 to 165 for the Statement of Risk Management and Internal Control in our FY2023 Annual Report. As a leading property developer in Malaysia, sustainability means considering the best avenues to create economic value from our business operations while consistently providing quality deliverables that meet the expectations of our stakeholders. We managed to strengthen our financial standing and maintain profitability through strict monitoring of our operating expenses and e ectively applied cost optimisation practices without compromising on the level of productivity. The Group acknowledges growing calls by governing institutions and financial facilities on organisations to enhance commitment towards climate action and address EES risks and opportunities across our value chain. To address this, we aspire to work towards applying ESG considerations to our capital investments and funding opportunities as a means to future-proof our assets and create lasting values for our shareholders. We believe that this initial step will pave the way to further align our operations along the sustainability pathway in the years to come. ECONOMIC SUSTAINABILITY Materiality Matter Importance to Tropicana Management Approach Bursa Malaysia Common (C) Indicators Applicable UNSDGs Relevant GRI Standards Economic Performance To achieve longterm business growth that benefits current and future stakeholders Emphasise developments and investments that achieve sustainable returns for stakeholders and enhance the value of Tropicana’s business portfolio - • GRI 201: Economic Performance 2016 • GRI 203: Indirect Economic Impacts 2016 RISK MANAGEMENT & SUSTAINABILITY PERFORMANCE 122 ANNUAL REPORT 2023
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