SUSTAINABILITY STATEMENT (CONT’D) Material Matters Progress Across the Years FY2020 FY2021 FY2022 Talent Management • Completed pioneer batch of Accelerated Learning Process Programme • Commenced second batch of Accelerated Learning Process Programme • Enhanced LEAD Programme framework • Quality and quantity of employee upskilling programmes improved • Commenced third batch of the Accelerated Learning Process Programme Occupational Health and Safety • Established Group OSH Policy • Established Group OSH Work Committee • Established “WECARE”, OSH Guiding Principles • Established OSH Legal Register and Hazard & Risk Register • Implemented ISO 45001 (OSH Management System) pilot project at QL Poultry Farm, Pajam • OSH Reinduction training Programme for our employees Commitment to Our Communities • Conducted Corporate Philanthropy activities throughout the year • Embarked on journey to establish a corporate citizenship and philanthropy guidelines • Identified longer term flagship programmes to support QL’s ongoing corporate citizenship and philanthropy efforts Per formance Our Approach • RM221.59 million invested to support business growth QL continuously innovates and is steadfast in enlarging capacity to offer resource-efficient protein nourishments to consumers. When undertaking expansion via organic growth or through acquisitions, we make informed and strategic decisions to focus on businesses that offer sustainable growth potential and strengthens our value chain. We allocate and deploy six capitals – Natural, Manufactured, Intellectual, Human, Social and Financial – to deliver sustainable value for stakeholders. GROWING OUR BUSINESS Our Growth Performance Even as the business environment roiled with the pandemic and waves of challenges, QL continued to invest to ensure growth. Guided by value creation strategy, QL invested RM221.59 million in FY2022 into strengthening our Core Focus activities and Cultivate high-potential opportunities. QL’s business impacts the economic conditions of our stakeholders and economic systems at local, national, and global levels. Our economic value generated and distributed (EVG&D) is summarised below: FY2020 RM’000 FY2021 RM’000 FY2022 RM’000 Direct Economic Value Generated Sale of goods 4,155,826 4,308,421 4,968,001 Construction contracts – 70,362 267,975 Dividend income 112 17 73 4,155,938 4,378,800 5,236,049 Operating Costs Cost of sales and others (Suppliers, service etc) 3,243,834 3,383,270 4,196,725 Depreciation and amortisation 166,123 180,247 195,871 Expenses arising from leases/rental 27,072 35,169 45,411 One-off remeasurement gain of previously held equity interest in an associate – (79,031) – 3,437,029 3,519,655 4,438,007 Employee Wages and Benefits Contributions to state plans 23,047 26,225 30,030 Expenses related to defined benefit plans 1,257 3,997 646 Wages, salaries and others 352,506 372,966 434,730 376,810 403,188 465,406 Community Investments Fishermen financial assistance scheme* 843 777 700 Support for communities & community infrastructure 500 570 982 1,343 1,347 1,682 Payment to Government Tax expense 67,972 107,383 85,670 67,972 107,383 85,670 Payment to Provider of Capital Loan providers 43,125 36,503 30,233 Shareholders 73,010 73,010 85,178 116,135 109,513 115,411 Economic Value Distributed 3,999,289 4,141,086 5,106,176 Economic Value Retained 156,649 237,714 129,873 *Computed based on estimated net financing cost. Total advance is disclosed under commitment to Our Communities. *Interest opportunity costs 5 3 5 2 S U S TA I N A B I L I T Y S TAT E M E N T QL Resources Berhad INTEGRATED ANNUAL REPORT 2022
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