MENCAST HOLDINGS LTD. SustainabilityReport FY2021
ABOUT THE REPORT..................................................................... | 1 |
FEEDBACK..................................................................................... | 1 |
BOARD STATEMENT ON SUSTAINABILITY................................... | 2 |
ABOUT THE GROUP....................................................................... | 3 |
GOVERNANCE STRUCTURE.......................................................... | 4 |
STRATEGIC APPROACH FOR SUSTAINABILITY............................ | 4 |
STAKEHOLDER ENGAGEMENT..................................................... | 5 |
MATERIALITY ASSESSMENT......................................................... | 7 |
PROCUREMENT PRACTICES........................................................ | 8 |
ENERGY.......................................................................................... | 8 |
WASTE............................................................................................ | 9 |
ENVIRONMENTAL COMPLIANCE............................................... | 10 |
EMPLOYMENT.............................................................................. | 10 |
TRAINING & DEVELOPMENT...................................................... | 13 |
OCCUPATIONAL HEALTH & SAFETY........................................... | 14 |
ANTI-CORRUPTION..................................................................... | 16 |
GLOBAL REPORTING INITIATIVE (GRI) CONTENT INDEX......... | 18 |
MENCAST HOLDINGS LTD. | SUSTAINABILITY REPORT FY2021| 1
ABOUT THEREPORT
Reporting | Reporting Period | Independent | ||
Boundary | & Standard | Assurance | ||
As a guide, this report | The reporting period | The ESG |
covers operations | is the same as the | performance data |
and all subsidiaries | financial year of the | presented in the |
for which Mencast | Group (1 January | report have mainly |
Holdings Ltd. | 2021 to 31 December | been extracted from |
("Mencast" or together | 2021 - FY2021). This | internal information |
with its subsidiary | report was prepared | systems and original |
corporations, | in accordance | records to ensure |
the "Group") has | with the Global | accuracy. The Group |
management | Reporting Initiative | has not sought |
control, unless | ("GRI") Standards | external assurance |
otherwise stated. | - "Core" reporting | for this sustainability |
It seeks to provide | requirements. The | report but have |
an overview of our | GRI Standards is the | relied on internal |
sustainability practices, | most widely used | verification to ensure |
commitment, and | and internationally | the accuracy of data. |
performance of the | accepted sustainability | |
Group's material | reporting framework. | |
Environmental, Social | The GRI Content Index | |
and Governance | at the end of the | |
("ESG") topics. | report specifies the | |
location of the relevant | ||
disclosures. |
FEEDBACK
We are fully committed to our stakeholders and we welcome feedback on any aspect of our sustainability policies, processes and performance. Kindly address all feedback to ir@mencast.com.sg. Your feedback is vital to us in achieving our goals to build a sustainable and thriving business. As an attempt to promote environmental conservation, there will be no hard copies of this report.
MENCAST HOLDINGS LTD. | SUSTAINABILITY REPORT FY2021 | 1
BOARDSTATEMENT ON SUSTAINABILITY
Mencast HoldingsLtd. ("Mencast" or together with its subsidiary corporations, the "Group")ispleasedto issue its fifth sustainability report prepared in accordance with theGRIStandards and in compliance with the SGX-ST guidelines on sustainability reporting.
The Group endeavours and is committed to continually consider material
environmental, social and governance topics as part of our core business strategy.
The report seeks to present an accurate account of our practices and performance in our mission to be a sustainable, responsible corporate citizen.
The Board of Directors ("Board") and senior management ("Management") remains committed to establish and maintain an effective Sustainability Management framework, which is supported by underlying internal controls, risk management practices, clear accountability and reporting process. The Board evaluates and considers ESG risks and opportunities relevant to the Group during the formulation of overall business strategy, objectives and performance measurements.
The Sustainability Reporting ("SR") Committee supports the Management in identifying the type of relevant ESG topics caused by its day-to-day operations. Management then determines the materiality of the ESG topics based on the level of significance of impact, and influence on stakeholder values, and the achievement of the Group's strategic objectives. The Board supports and approves the identification and assessment parameters of material ESG topics.
The ESG topics in this report have been reviewed by the Board and Management to be material and relevant. The Board and Management shall continue to dedicate leadership and maintain a high standard of sustainability governance to drive continuous and long-term growth for all its stakeholders. The Group will continue to work towards a balanced disclosure on the management and monitoring of material ESG topics for continuous improvement.
MENCAST HOLDINGS LTD. | SUSTAINABILITY REPORT FY2021 | 2
ABOUT THEGROUP
Mencast HoldingsLtd and its subsidiary corporations' ("Mencast" or the "Group") businessessupport the movement of global goods and overall supply chain. These include sterngear manufacturing, Manufacturing, Repair and Overhaul ("MRO") and theremediationand recycling of materials and wastes related to manufacturing and transport.We also have a growing innovation and manufacturing division focused on sustainable products and solutions.
Headquartered in Singapore, the Group was successfully listed in June 2008 as the
first sponsor-approved listing on Singapore's SGX Catalist and later became the first
such company to transfer to the SGX Mainboard. From its establishment in 1981, the
Group has grown into a leader in the manufacture and repair of propellers and stern
gear equipment and has built on its core competencies to steadily expand business
into new areas. These include waste management as well as innovation-driven businesses.
Mencast constantly innovates to create customer value and drive sustainable business growth which is led by Mencast Innovation Centre Pte. Ltd. ("MIC"), an incubator that provides mentorship, facilities and networking opportunities for growth companies synergistic with our Group. Mencast will continue to seek technology-driven growth opportunities in MRO, environmental remediation, manufacturing and the recycling of waste products.
FOUR (4) | SIX (6) | ||
SERVICE PRINCIPLES | PILLARS OF STRENGTH | ||
1. | We work hard to retain our technical expertise | ☑ | Commercially Minded/ |
Customers partner with Mencast for the high | Corporate Ethos | ||
standards we set ourselves. We are continuously | |||
learning, sharpening our skills and striving to | ☑ | Full Engagement | |
improve ourselves to be the best possible partner | |||
to our customers. | Responsiveness/ | ||
2. | We always seek solutions | ☑ | Speed |
At Mencast, we are determined to find a solution | Superior Technical | ||
to your problem. Our flexibility, resourcefulness, | ☑ | Ability | |
and innovation approach equip us to anticipate, | |||
avoid and overcome any obstacles you might | Resourceful/ | ||
face. | Solution Oriented/ | ||
☑ | Dependability |
3. We look out for one another
We believe in the value of teamwork and think | Environmental |
of our Mencast team as a family; someone we | Championship |
can count on and trust. Not just when things go | |
wrong but to share our successes too. |
4. We focus on developing and maintaining long- term customer relationships
We consider our customers to be our partners not just today, but in the long run. We place our customers at the forefront of our business and make sure that our industry relationships and commercial acumen inform our service and capabilities.
MENCAST HOLDINGS LTD. | SUSTAINABILITY REPORT FY2021 | 3
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Mencast Holdings Ltd. published this content on 23 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 May 2022 07:36:49 UTC.
