Sustainability has always been a pillar of the Group’s culture as we strived to achieve continuing growth and profitability in a safe, caring and sustainable environment.
The Group understands that responsible corporate behaviour not only contributes to broad-based future benefits for the community and environment but can also enhance opportunities for business success for the Group as well as our stakeholders including, among others, our investors, customers and vendors. Hence, the Group is committed to creating sustainable stakeholders’ values by incorporating environmental and social concerns into our businesses. To do so, we carry out continuous evaluation of our business operations and at the same time, endeavour to conserve and improve the natural environment and the socio-economic conditions of the Group’s employees and community in which we operate.
In line with Bursa Malaysia Securities Berhad’s Sustainability Reporting Guide (2nd Edition), the Group’s sustainability practices are to ensure that economic, environmental and social risks and opportunities are tied in with our governance framework and social responsibilities. This enables our corporate success and behaviour to be judged and measured by the public.
The responsibility to promote and embed sustainability in the Group lies with the Board of Directors (“Board”). Among others, this responsibility includes overseeing the following:
Materiality assessment and identification of sustainability risks and opportunities relevant to us
Management of material sustainability risks and opportunities
In the longer term, the Group will consider the setting-up of a governance structure that will enable the incorporation of the responsibilities for sustainability into the day-to-day operations of the Group.
MATERIAL SUSTAINABILITY MATTERS
Our shareholders are the ultimate owners of the Company and as such, they are entitled to timely and quality information on the Group’s financial performance and position. Apart from the Annual General Meeting where shareholders are encouraged to question the Board and Executive Management on business operations, and the financial performance and position of the Group, the Group’s corporate website at www.itmikro.com also provide a link on investor relations where quarterly and annual financial statements, announcements, financial information, annual reports, circulars/statements to shareholders and other pertinent information are uploaded on a timely basis when available.
The Group is committed to see that not only our shareholders’ interests are taken care of but also those of our customers and suppliers. In this regard, the Group values its customers as they are a major reason for its profitability. Our marketing and sales representatives schedule regular meetings, both formal and informal, with our customers to build a strong and conducive relationship. The objective of this is to promote a culture of open communication, trust and reliability.
For customers who buy our products, they can be assured of quality as our production process are certified with ISO 9001:2015 “Quality Management System” by Lloyd’s Register Quality Assurance for the design, development and manufacture of analogue, digital and computer controlled protective relays, power meters and power factor regulators for use in electrical engineering. All our products are type-tested certified as compliant with IEC Standards, UL Standards, EN Standards, ASTA Standards, DEKRA Standards and Standards Malaysia, where applicable.
These certifications provide worldwide recognition and acceptance of our products.
As stipulated in the Group’s “Quality Policy”, we are committed to supply quality products and meeting customers’ satisfactions through continual improvement in technology and processes. We also wish to be a responsive and reliable partner to our distributors who distribute our products within their respective markets.
To our suppliers, the Group practises transparent and fair procurement policies so that they as our business partners know that they can depend on us.
As both customers and suppliers are integral to our ecosystem, the Group have enhanced its Code of Conduct and Ethics by detailing the do’s and don’ts of the relationships between the Group and these stakeholders in distinct and separate Anti-Bribery and Corruption Policy, and Hospitality Policy and Procedures. In order to show commitment to the said policies, the Group has engaged an independent consultant to manage and administer its whistle-blowing process.
Generally, our production process does not generate any major environmental concerns because there are no emissions of very harmful noxious gases or the production of toxic fluids and discharges. Our scheduled wastes are stored, treated, recovered in a proper manner and then delivered to prescribed premises for treatment, disposal and recovery. In this process, the scheduled wastes will be packaged, labelled and transported in accordance with the prescribed local guidelines and regulations.
We are committed to “green” operating practices and we have in place an Environmental Management System which is accredited as ISO14001:2015 compliant. Our operating practices for environment management include:
Preserving, conserving, minimising waste of resources and ensuring that the work environment is free from pollution hazards;
Complying with relevant environment, health and safety laws and regulations in relation to hazardous discharges in the production process;
Periodic review of the policies, objectives and targets of our environmental management program; and
Communicating clearly to all employees, customers and suppliers to instil in them the environmental awareness culture and values of the Group.
The Group believes that the safety and well-being of its employees is the foundation of its success. Hence, we strive to provide a safe and healthy environment for our employees and to ensure safe practices in all aspects of our business operations. In this respect, the Group places utmost importance on continuous compliance with all relevant health and safety laws and regulations such as Occupational Safety and Health Act, 1994.
The financial year ended 30 June 2021 has been a difficult period for everybody as the COVID-19 pandemic has resulted in severe disruptions to everyday life as well as interruption to businesses. The Group recognises that it is a tough time for many of our employees and hence, we have ensured a safe working environment for them by providing free face masks and face shields at work. In addition, standard operating procedures on health and safety measures are strictly enforced and reverse transcription polymerase chain reaction (“RT-PCR”) tests are also provided at the Group’s expense periodically.
Apart from safety, promoting good health, and motivation is an essential part of the Group’s responsibility to our employees. In addition to the day-to-day motivation measures, it is the Group’s tradition to have an Annual Dinner for its employees and business associates to mingle and celebrate the year past. However, due to the ongoing COVID-19 pandemic since early 2020, the Annual Dinners since then has been deferred to a more opportune time.
The Group continuously upskill and reskill its workforce so that they can execute their roles and responsibilities effectively and efficiently as well as for their personal career development. Employees are encouraged to attend internal or external training or pursue professional development to enhance their knowledge and skills for career enhancement and personal development.
We will continue to focus on human capital development to nurture our employees to their full potential as they are our greatest asset. Every employee is given equal opportunity to rise up in their careers through hard work and dedication.
We also place great importance on hiring the right candidate for the right job. As part of our succession planning, we focus continuously on attracting quality talents who best fit our job requirements and complement our work culture.
As we are deeply rooted in the community we operate, we actively engage in community outreach programmes and activities. We are proud of having the privilege to serve various segments of the community towards providing for social empowerment and helping to make a positive difference for those who are disabled and have special needs.
As a responsible corporate citizen, the Group shall endeavour to undertake sustainable and responsible practices to add value to sustainable business growth, environmental stewardship and social responsibility.