Sustainability Report Participating in Industry Organisations Wasco proactively engages with other leading companies and organisations to help advance standards, share best practices, activate stakeholders, and create a sustainable economy. Wasco continues to work with leading organisations, namely the Malaysian Oil & Gas Services Council (“MOGSC”), the largest nationallevel independent industry association promoted and driven by the services sector of the Malaysian Oil & Gas Industry. In addition, we are an active member of Energy Industries Council (“EIC”), one of the world’s largest energy trade associations for companies that supply goods and services to the energy industries worldwide. Responsible Procurement Our supply chain includes the supply of goods and services. We strive to improve our supply chain’s social and ethical footprint and work with suppliers that share our values. We expect our suppliers to comply with all applicable laws and demonstrate that they have the attributes set out in our Supplier Code. We recognise the opportunity to positively impact communities by making balanced choices about sourcing the required goods and services for business operations. Our responsible procurement plan focuses on four key areas: • Upholding ethical treatment of workers • Supporting local businesses • Encouraging participation • Assessing supply chain risk management We conduct quantitative and qualitative assessments of all suppliers on our Approved Vendor List every year. Our selection is based on Major and Minor Vendors categories. We examine their performance to mitigate risks and drive improvement during the review. We notify poor performing suppliers and provide corrective action or improvements. The vendor may be suspended or removed from the Approved Vendor List if they do not take the requested action or make the necessary improvements. Wasco updates the Supplier Audit Matrix following the yearly assessment. 63 Wasco Berhad
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