Creating a Cohesive Wasco As part of our transformation journey, we have realigned and restructured our business into two main segments - energy and bioenergy. This strategic decision aims to enhance focus, streamline operations, and capitalise on emerging opportunities in these sectors. Additionally, we have strategically taken a decision to exit the trading business as it no longer aligned with the aspirations of the group going forward. Moreover, we have disposed non-core assets to optimise our portfolio and strengthen our financial position. Following the name change to Wasco Berhad on 31 May 2023, we intensified efforts to foster unity across our organisation at operational, personnel, and cultural levels. In line with the consolidation rationale, we streamlined support functions such as finance, procurement, contract management, IT, and human resources. Concurrently, we harnessed cross-functional synergies by leveraging our combined resources and cross-selling services while enhancing efficiencies through the sharing of best practices. Crucially, we fostered a new identity among our employees, accompanied by a shared vision, mission, and values. Various initiatives, including brand champion workshops, training sessions, and enhanced onboarding programmes, were undertaken to garner employee buy-in. These efforts were complemented by initiatives aimed at fostering unity, such as the establishment of common communication platforms, internal portals, virtual libraries, and town hall sessions. Chairman and Managing Director/ Group CEO’s Statement 30 Integrated Annual Report 2023
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