Stakeholder Capital and Engagements

Stakeholder Engagement is an integral part to the long-term value creation and sustainability of the Group.

The Group understands that effective stakeholder engagements allows the gaining of valuable insights of material concerns and expectations of our stakeholders. Our stakeholder engagement strategy is integrated with our risk and business development management. We consider the dialogue with our stakeholders as a critical function in our business value chain. Our stakeholders who include our employees, customers, suppliers, regulators, society, shareholders and investors are regarded as business partners. Engaging with stakeholders builds an important capital, crucial for the sustainable success of the Group and products.

MANAGEMENT APPROACH

The Group places the responsibility of stakeholder engagement upon all management and employees. Ultimately, the Board is responsible for stakeholder engagement and management through various committees and business unit management. The Group’s approach to stakeholder engagement is such that business units are responsible for managing operational stakeholders while the corporate stakeholders are managed at Group level. Engaging with stakeholders allows the Group to identify and verify material issues impacting our business and stakeholders. Material issues identified at the business unit are evaluated at that level before being consolidated at Group level to inform corporate strategy and responses.

The Group’s stakeholder engagement framework is to categorise material issues raised by stakeholders into those relating to economic, environmental or social impacts and opportunities. The framework allows the Group to consider material issues with significant impacts on the Group and stakeholders to be disclosed for accountability and response strategy formulation.

ENGAGING WITH OUR STAKEHOLDERS

During 2018, the Group engaged with stakeholders and identified material issues presented below.

Employees / Staff

Material Issues Raised or Stakeholder Concern Mitigation Measures Communication Channels
  • Fair treatment
  • Engagement and inclusion
  • Employee benefits and awards
  • Working hours
  • Professional and continuing education and development
  • Staff accommodation and facilities
  • Safety, health and hygiene
  • Competitive company performance and remuneration
  • Death and post retirement benefits
  • Regular engagement
  • Development, implementation and monitoring of effective Human Resource policy and procedures
  • Training and Staff retention
  • Regular communication
  • Company pension fund in addition to the NSSA pension scheme
  • Production based incentive schemes
  • Safety and health matters resolution through SHEQ Officer and company doctors
  • Regular briefing on company performance and strategy
  • Renovations of staff accommodation and facilities
  • Continuous engagement
  • Performance Review feedback
  • Internal communications
  • Tip offs anonymous
  • Internal communications through workers council
  • Face to face meetings
  • Noticeboard
  • Emails
  • CEO and Line manager engagement
  • Employee benefits reviews
  • Code of conduct reviews
  • Training sessions
  • Quarterly newsletter
  • Health and safety reviews and audits

Suppliers
Industry
Goverment & Regulators
Shareholders & Potential Investors
Customers & Consumers
Local Communities