Sustainability Statement Sustainability Statement Progress Across the Years Material Matters FY2021 FY2022 FY2023 Occupational Health and Safety • 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 • Established and rolled out Safety Leadership Training Programme to all people and line managers • Identified QL Kitchen Sdn. Bhd. to obtain ISO 45001:2018 certification Commitment to Our Communities • 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 • Maintained MPM flagship programme of supporting local fishermen • Piloted “C Our Future Programme” as an ILF corporate philanthropy flagship programme GROWING OUR BUSINESS Performance • RM240 million invested to support business growth Our Approach QL innovates continuously and remains steadfast in increasing its 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 strengthen our value chain. We allocate and deploy six capitals – Natural, Manufactured, Intellectual, Human, Social and Financial – to deliver sustainable value for stakeholders. Our Growth Performance Even as the business environment faced headwinds and waves of challenges, QL continued to invest to ensure growth. Guided by value creation strategy, QL invested RM240 million in FY2023 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. FY2021 RM’000 FY2022 RM’000 FY2023 RM’000 1 Direct Economic Value Generated Sale of goods 4,308,421 4,968,001 5,935,525 Construction contracts 70,362 267,975 307,097 Dividend income 17 73 21 4,378,800 5,236,049 6,242,643 2 Operating Costs Depreciation and amortisation 180,247 195,871 208,198 Expenses arising from leases/rental 35,169 45,411 50,412 Remeasurement gain of the previously held equity interest in an associate (79,031) - - Cost of sales and others (Suppliers, services etc) 3,383,270 4,196,725 4,920,618 3,519,655 4,438,007 5,179,228 3 Employee Wages and Benefits Contributions to state plans 26,225 30,030 33,453 Expenses related to defined benefit plans 3,997 646 3,072 Wages, salaries and others 372,966 434,730 534,596 403,188 465,406 571,121 4 Community Investments Fishermen financial assistance scheme * 777 700 647 Support for communities & community infrastructure 570 982 836 1,347 1,682 1,483 5 Payment to Government Tax expense 107,383 85,670 118,929 107,383 85,670 118,929 6 Payment to Provider to Capital Loan providers 36,503 30,233 31,664 Shareholders 73,010 85,178 170,356 109,513 115,411 202,020 Economic Value Distributed 4,141,086 5,106,176 6,072,781 Economic Value Retained 237,714 129,873 169,862 * Computed is estimated net financing cost (opportunity cost). Total advance is disclosed under Commitment to Our Communities * Includes interest opportunity costs QL RESOURCES BERHAD INTEGRATED ANNUAL REPORT 2023 SEC. SUSTA I N A B I L I TY STATEMENT 5 045 044 PG. PG.
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