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Governance

Effective, Accountable & Transparent

OUR GOVERNANCE GOALS

CORPORATE GOVERNANCE

Leveraging on the invaluable assets of a strong & effective Board of Directors

Objectives:

To have a good mix of committed board directors who are experienced & independent to provide corporate’s oversight.

Scope:

  1. Board of Directors
  2. Board Diversity

Strategies:

Have a strategic corporate governance structure

Value Creation:

To ensure the creation and protection of shareholders’ value

ETHICS & TRANSPARENCY

Building deep trust among stakeholders of the company

Objectives:

To set ethical conduct expectations to all our stakeholders in ensuring fair business dealings

Scope:

  1. Business Conduct
  2. Communication
  3. Compliance
  4. Anti-Corruption

Strategies:

Clearly defined process and procedures, Training and education, Open communication, Third party accreditation

Value Creation:

To build trust and confidence among stakeholders

DIGITALISATION

Improving efficiency, transparency & speed

Objectives:

  • To transform our internal processes, operations and systems into the digital age
  • To enhance the timeliness of data update & transparency of our data recording system

Scope:

  1. Automation
  2. Efficiency
  3. Timeliness

Strategies:

Invest in technology and operational infrastructure

Value Creation:

  • To build a culture of excellence that meet our stakeholders’ needs and expectation
  • To create an environment that supports employees’ personal and professional development
  • To encourage continuous learning
SUSTAINABLE OPERATIONS

Ensuring our business thrive for the people, environment & economy

Objectives:

To continue inculcating a growth mindset towards the growth of the company focusing on the People, Planet & Prosperity for the company’s sustainability

Scope:

  1. Continuous Improvement
  2. Performance Measurement

Strategies:

Streamline all our strategies on a growth mindset that focuses on the People, Planet & Prosperity

Value Creation:

  • To be a world-class sustainable plastic packaging manufacturer
  • To double the group’s revenue to RM 2 billion by FY2027
CORPORATE GOVERNANCE

Leveraging on the invaluable assets of a strong & effective Board of Directors

Objectives:

To have a good mix of committed board directors who are experienced & independent to provide corporate’s oversight.

Scope:

  1. Board of Directors
  2. Board Diversity

Strategies:

Have a strategic corporate governance structure

Value Creation:

To ensure the creation and protection of shareholders’ value

ETHICS & TRANSPARENCY

Building deep trust among stakeholders of the company

Objectives:

To set ethical conduct expectations to all our stakeholders in ensuring fair business dealings

Scope:

  1. Business Conduct
  2. Communication
  3. Compliance
  4. Anti-Corruption

Strategies:

Clearly defined process and procedures, Training and education, Open communication, Third party accreditation

Value Creation:

To build trust and confidence among stakeholders

DIGITALISATION

Improving efficiency, transparency & speed

Objectives:

  • To transform our internal processes, operations and systems into the digital age
  • To enhance the timeliness of data update & transparency of our data recording system

Scope:

  1. Automation
  2. Efficiency
  3. Timeliness

Strategies:

Invest in technology and operational infrastructure

Value Creation:

  • To build a culture of excellence that meet our stakeholders’ needs and expectation
  • To create an environment that supports employees’ personal and professional development
  • To encourage continuous learning
SUSTAINABLE OPERATIONS

Ensuring our business thrive for the people, environment & economy

Objectives:

To continue inculcating a growth mindset towards the growth of the company focusing on the People, Planet & Prosperity for the company’s sustainability

Scope:

  1. Continuous Improvement
  2. Performance Measurement

Strategies:

Streamline all our strategies on a growth mindset that focuses on the People, Planet & Prosperity

Value Creation:

  • To be a world-class sustainable plastic packaging manufacturer
  • To double the group’s revenue to RM 2 billion by FY2027

CORPORATE GOVERNANCE

Board of Directors

Leveraging on the invaluable assets of a strong & effective Board of Directors

Objectives

To have a good mix of committed board directors who are experienced & independent to provide corporate’s oversight.

Our Sustainability Indicator

Good corporate governance creates a conducive business environment for long-term growth. Our efforts are underpinned by a board of directors elected to represent shareholders in providing strategic and independent oversight for the corporation’s affairs, including corporate management, activities, policies, and more.

Board of Directors

In 2021, the Board comprised eight directors who met on four occasions, during which they approved the company’s financial statements. The Board receives updates and reviews from internal and external experts on issues of importance to the company.

Sustainability governance

Sustainability-related topics fall under the purview of the executive committee, assisted by the risk management task force. Our executive director represents the executive committee in reporting the sustainability-related matters to the Board of Directors.

We led our sustainability framework from the top-down, and each level of our organisation holds its respective responsibilities.

Thong Guan’s Board of Directors Distribution

Board of Directors

  • Review the Group’s sustainability matters and ensure business strategy considers sustainability; and
  • Provide advice and direction of sustainability in the Group when

Management/ Risk Management Task Force

  • Responsible for assessing and identifying material sustainability factors;
  • Develop sustainability strategy and recommendation, and regular revision is in place;
  • Undertake actions necessary to address sustainability concerns; and
  • Oversees operating divisions in ensuring the robustness of the system of sustainability management.

Operating Division

  • Support strategy implementation developed by the management to ensure sustainability objective is achieved;
  • Ensure sustainability processes and controls are in place within its departments/ functions; and
  • Review and feedback on all measurements for improvement.
Conclusions

ETHICS & TRANSPARENCY

Business Code of Conduct

Building deep trust among stakeholders of the company

Objectives

To set ethical conduct expectations to all our stakeholders in ensuring fair business dealings

Our Sustainability Indicator

Ethics & transparency

Thong Guan strives to uphold high ethical standards in all aspects of our business. Our Business Ethics and Code of Conduct set the ethical conduct expectation for our Group.

Thong Guan encourages employees and contractors to ask questions, voice concerns and report any alleged violations of company policies.

In addition to our open-door communication culture, we have the Whistleblowing Policy, providing an independent channel to offer more accessible, secure, and confidential reporting. We respect confidentiality, subject to legal requirements, and strictly prohibit retaliation against any employee for submitting concerns—audit Committee reviews reports of suspected violations concerning ethics and management integrity.

Our audit committee, comprising three independent directors, oversees accounting and internal control matters for the company, including compliance with legal and regulatory requirements. Thong Guan conducts quarterly internal audits and self-assessments to verify the effectiveness of our control system.

Anti bribery & corruption

In FY2021, we reviewed and updated our risk analysis in relation to anti bribery and corruption. Anti-corruption training was carried out in FY2021. Below is our anti-corruption and anti bribery data for FY2020 and FY2021.

Financial year
2020
2021
Number of corruption and bribery case
0
0
Political contribution made
0
0
Facilities payment made
0
0
Fines imposed in relation to corruption, bribery
0
0
Conclusions

DIGITALISATION

Digital Transformation

Improving efficiency, transparency & speed

Objectives

  • To transform our internal processes, operations and systems into the digital age
  • To enhance the timeliness of data update & transparency of our data recording system

Our Sustainability Indicator

Digital transformation

Digitalisation in business helps us improve our operations’ efficiency, making automation possible. It also helps us reduce human errors and operational costs.

We digitalised our production processes, including implementing Manufacturing Execution System (MES), a computerized system used in manufacturing to track and document the transformation of raw materials to finished goods.

Our digitalisation initiatives in FY2021 also include implementing the auto weighing system on the production floor and introducing a digital monitoring and reporting on waste management.

In 2022, we plan to upgrade procurement system with Robotic Process Automation (RPA) and Supplier Relationship Management (SRM) to promote timeliness and update of data and enhance the transparency of our data recording system.

Conclusions

SUSTAINABLE OPERATIONS

Continuous Improvements

Ensuring our business thrive for the people, environment & economy

Objectives

To continue inculcating a growth mindset towards the growth of the company focusing on the People, Planet & Prosperity for the company’s sustainability

Our Sustainability Indicator

SOM & strategies

Our Sustainable Operations Management (SOM) drives the operational strategies of the company. They cover the procedures, processes, practices and systems we have initiated, created and delivered. In which are profitable for our business using the resources at our disposal while taking preservation of the nature and social environment into account.

Eleven Malaysian companies made it to Forbes Asia’s Best Under A Billion 2021, which recognises 200 top performing publicly listed small and midsized companies in the Asia-Pacific region with less than US$1 billion (RM 4.16 billion) in revenue and consistent top- and bottom-line growth.

Conclusions