STRENGTHENING
FOUNDATIONS,
DRIVING SUSTAINABLE
GROWTH
ANNUAL REPORT 2023
STRENGTHENING
FOUNDATIONS, DRIVING SUSTAINABLEGROWTH
In the last five years, we have strengthened our position in the automotive and industrial sectors by leveraging on our experience and expertise to deliver high-quality products and services to our customers. We have also diversified our portfolio, entering new markets and introducing new offerings with promising opportunities for growth, while remaining focused on our two core businesses of Motors and Industrial. Despite the uncertainties and challenges experienced in the last several years, we have consistently achieved strong financial and operational results, demonstrating our resilience and agility. Our theme for this year's annual report, Strengthening Foundations, Driving Sustainable Growth, describes how we have built a solid foundation for future success in our two core businesses, while pursuing new avenues for value creation and competitive advantage.
ABOUT OUR
REPORT
Welcome to Sime Darby Berhad's Annual Report (SDAR) FY2023. It provides an overview of both the financial and non-financial performance of Sime Darby and serves as a means to communicate our key development highlights, challenges faced, solutions implemented and strategies formulated during this financial year to our stakeholders.
REPORTING PHILOSOPHY AND PRINCIPLES
The report offers comprehensive information about the Group's performance, initiatives and outcomes. It outlines our advancements towards achieving our medium to long- term objectives and provides valuable insights into our strategies, operations and long-term sustainability. The report aims to cater to the information requirements of stakeholders and allow them to make informed decisions.
SCOPE OF REPORTING AND BOUNDARIES
The SDAR presents the performance of Sime Darby's value- creating activities during the period from 1st July 2022 to 30th June 2023 and for material events up to 30th September 2023. This report encompasses data from all Sime Darby's subsidiaries unless stated otherwise. Our reporting boundaries consider the following:
Internal impact: Impact from all operations and entities
managed by Sime Darby.
External impact: Impact in situations where we do not own the assets or directly engage or employ workers, or where we operate the assets under a contractual obligation.
Through our materiality assessment, we have deciphered a range of development, impact and data that have a high material impact on Sime Darby's business performance. For the purposes of this report, the term "net profit" refers to "net profit attributable to owners of the Company".
The SDAR should be read together with the information available on our website https://www.simedarby.comfor a comprehensive overview of the Group.
REPORTING FRAMEWORKS AND GUIDELINES
We continuously adhere to and comply with various international frameworks and guidelines to guide us during our reporting progress.
- Integrated Reporting Framework ()
- Malaysian Code on Corporate Governance 2017 (MCCG 2017)
- Main Market Listing Requirements (MMLR) of Bursa Malaysia Securities Berhad
- Malaysian Financial Reporting Standards (MFRS)
- International Financial Reporting Standards (IFRS)
Throughout this report we are guided by the Global Reporting Initiative (GRI) and United Nations Sustainable Development Goals (UN SDGs). To adapt and align ourselves with the changing landscape, we plan to embark on the Task Force for Climate-Related Financial Disclosures (TCFD) in the upcoming financial year.
INDEPENDENT AUDIT
Our financial statements are independently audited and prepared in compliance with the Malaysian Financial Reporting Standards (MFRS).
FORWARD LOOKING STATEMENT
SDAR contains a range of forward-looking statements used in relation to our plans, objectives, goals, strategies, future operations and performance of our organisation. These statements are solely based on current assumptions and are not intended to guarantee future operating, financial or other results, thus involving uncertainty. Our actual results and outcomes may differ due to various factors. There is no obligatory requirement that needs to be followed in updating either these forward-looking statements or the historical information reported in SDAR.
HOW WE CAN FURTHER IMPROVE
We aim to continuously engage with all our stakeholders in a fair and transparent manner as their values and feedback can evidently improve Sime Darby's reporting method and content. To share your comments and feedback, please contact our Investor Relations team at:
(603) 7623 2000
investor.relations@simedarby.com
CROSS REFERENCES
Additional information about Sime Darby Berhad on our corporate website is accessible via a QR Code
United Nations Sustainable
Development Goals Adopted
NAVIGATION ICONS
Our Capitals | Stakeholders | Our Strategic Focus Area |
Financial Capital | Employees | Operational |
Excellence | ||
Manufactured | Customers | Non-Core Asset |
Capital | ||
Rationalisation | ||
Intellectual Capital | Media | Growth and Business |
Human Capital | Suppliers | Expansion |
Unlocking Value | ||
Social & Relationship | Investors/ | in Healthcare |
Capital | Shareholders | |
Natural Capital | Government | |
and Regulators | ||
Community |
Key Risks | Strategy Pillars | ||||
1 | Market Dynamics | 6 | Health, Safety and | Economic | |
Environment (HSE) | |||||
2 | Business Partners | 7 | Cybersecurity | Environmental | |
Disruption/ | Project | ||||
3 | 8 | ||||
Disintermediation | Management | Social | |||
4 | Mergers and | 9 | People and Culture | ||
Acquisitions | |||||
5 | Product and Service | 10 | Regulatory | Governance | |
Delivery | Compliance | ||||
Material Matters
Theme 1: Optimising Our Environmental and Social Footprint
1 | Climate Change (Including Financial | 5 | Labour Practices |
Risk & Opportunities) | |||
2 | Energy and Emissions Management | 6 | Health and Safety |
(Including Renewable Energy) | |||
3 | Water Management | 7 | Diversity |
4 Waste and Effluent Management
Theme 2: Inspiring Our Employees to Deliver Meaningful Change
1 | ESG Oversight, Measurement & | 3 | Community Contributions and |
Reporting | Development |
2 Employee Training and Development
Theme 3: Engaging in Sustainable Partnerships
1 | Customer Satisfaction | 3 | Business Ethics and Compliance (incl. |
Anti-Bribery/ Corruption) | |||
2 | Business Continuity | 4 | Responsible Supply Chain |
Theme 4: Driving Sustainable Innovation and Technology | |||
1 | Sustainable Product Offering | 3 | Data Privacy and Security |
2 Technology and Innovation
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Disclaimer
Sime Darby Berhad published this content on 18 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 October 2023 04:41:06 UTC.