In today’s broad marketplace where the interest of all stakeholders is inter-linked, it is no longer tenable to attain a successful and sustainable business model directed solely to maximising profits without any regards whatsoever to the potential repercussions to these stakeholders, who are in a position to impact an organisation in achieving its corporate mission and goals. With the extensive use of the social media amidst the advent of technological advances in the field of communication, global citizens are more connected than ever before. With its easy accessibility and functionability, the social media is a rather potent instrument that is being widely used by non-government organisations and special interest consumer groups to shape societal behaviour, demands and perceptions by raising the level of consciousness over the importance of sustainability.
Thus, it becomes inevitable that an organisation must put in thought and effort to seriously consider the interest of all stakeholders and work towards a win-win situation where all parties concerned are able to derive some degree of benefits without leaving any parties to an extremely disadvantaged position. However, it should be acknowledged that interest of the various parties maybe somewhat conflicted with one another and that a balanced approach would be required to minimise such conflicts. Up and foremost for the long-term survival of an organisation, is the attainment of a sustainable business model incorporating good Corporate Social Responsibilities (“CSR”) practices that embraces responsibilities for the impact arising from the conduct of its activities.
Unlike the past, organisations today are hard pressed to spell out clearly their commitment towards environmental, social, governance (“ESG”) and sustainability agendas as well as give an account of the effects and outcomes of their business practices on their stakeholders. In addition, stakeholders are also clamouring for organisations to disclose how their activities can benefit communities and consumers and outline how they mitigate any negative impact arising from their business activities.
As a responsible organisation, Amalgamated Industrial Steel Berhad (“AISB”) is committed to promoting and undertaking good CSR practices that have a positive and enduring impact on all our key stakeholders. We recognise our obligations, not only to deliver and support long term shareholders value, but at the same time making conscious efforts to bring about a positive outcome to each and every person that is directly impacted by our existence.
In undertaking our CSR, we value the long-term benefits and goodwill that will accrue to our reputation and corporate standing and we will endure to work towards the betterment of our employees, the community, the well-being of the environment and its related stakeholders.
The key CSR initiatives that AISB promotes, cover the following areas:
EMPLOYEES’ WELFARE AND WELL-BEING
We strive to maintain our standards in the development of our employees to ensure that the pool of human talent remains with us. We subscribe to the principle that our employees are one of the main pillars of our success and they remain our most valuable asset.
Among the pertinent human resource initiatives to advance the welfare and well-being of our employees and to enhance the overall human capabilities and competitiveness within the organisation include:
- Promoting a safe working environment that foster mutual respect where employees irrespective of status, position and gender are treated with dignity and free from sexual harassment;
- Ensuring continuous human resource development by making available training and career advancement opportunities;
- Providing suitable sporting and recreational amenities to our employees to lead a balanced and healthy lifestyle;
- Diversity and equal opportunity is a key component to develop a fair workplace, hence we have adopted a merit-based and non-discriminatory hiring practices;
- Providing staff with medical, dental, hospitalisation and insurance benefits including certain benefits to extended family members;
CONTRIBUTION TO THE COMMUNITY
- The CSR initiatives encourage our employees to be involved and engaged in meaningful activities for the society and supporting numerous charitable causes both in cash and kind to help the needs of communities.
- Philanthropy or donations to charitable causes has been one of the corporate social events carried out by the Group in 2018.
- Organising Back-To-School supplies for underprivileged students.
PROTECTION AND CONSERVATION OF THE ENVIRONMENT
- Our projects will be designed to incorporate features that promote energy conservation.
- Given that the construction process would typically generate large volumes of waste, concerted efforts will be taken to mitigate the problem through positive measures to reduce waste generated.
- Creating awareness amongst the employees on green issues and their contribution to global warming and encouraging the practice of the 3Rs within the organisation including water conservation in some of our operations.
- Leveraging on the advances in the field of technology by conducting paperless e-meetings, where permissible, to minimise usage of papers.
HEALTH AND SAFETY
The diversity of the business activities at AISB requires us to pay special attention to how our practices prioritise our employee and public safety. On the matter of health and safety at our manufacturing plant and construction sites, we have regulations and policies that promote safe practices among our employees and workers at the workplace. We appoint qualified and competent Safety Personnel to oversee the compliance of health and safety requirements at our construction site.
AISB is also supportive of the government’s policy in providing a smoke-free environment at the workplace to protect non-smokers.
Our commitment to preventing corruption is in line with the government policy where we ensure that proper care and judgment is exercised in our daily business activities including awarding contracts. The Group has zero tolerance for unethical and illegal conduct by Group employees. We will conduct due diligence to assess the integrity of prospective business counterparties to avoid any allegations of bribery and corruption. We shall not enter any business dealings with any third party reasonably suspected of engaging in bribery and improper business practices unless those suspicions are investigated and resolved.
ENGAGEMENT WITH THE RELATED STAKEHOLDERS
We recognize the need for effective channels of communication and high standards in the provision of services in our continuous efforts to build a long-term relationship with our shareholders, investors, members of the media, regulators, customers and financiers. We believe that reaching out to these stakeholders and maintaining strong and cordial relationship with them is a crucial component of our business growth strategy.
Among the related initiatives to promote engagement with related stakeholders include:
- Continued participation in the CMDF-Bursa Research Scheme (“CBRS”) administered by Bursa Malaysia with the aim of ensuring wider research coverage on our Company;
- Facilitating members of the media to interview directors and authorised spokespersons of the Company from time to time;
- Providing stakeholders with dedicated email at firstname.lastname@example.org for them to communicate with the Company on any matters.
We are proud to play our part as a responsible corporate citizen and in discharging our social responsibilities through active participation in the various CSR programs. Our efforts in promoting and undertaking CSR initiatives is part of our mission to maintain a sustainable business model to ensure that we are up to the challenge to meet consumers’ demands for eco-friendly practices and the welfare of other key stakeholders are taken care of.