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, our mission as a responsible corporate citizen is to ensure high standards of governance across our business to promote responsible business practices, manage environmental impacts, and meet the social needs of the 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:
- Stakeholders engagement
- 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 the business operations and the financial performance and position of the Group, the Group’s corporate website at www.itmikro.com also provides 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 to 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 regulators for use in electrical distribution systems.
For discerning overseas customers, the Group also has a range of protective relays, power meters and power factor regulators that are type-tested and certified by DEKRA, a global testing and certification company headquartered in Netherlands. This certification means that tests on the said products were carried out successfully at DEKRA’s laboratories in accordance with internationally recognised standards, based on DEKRA’s rigorous inspection and verification procedures.
These certifications provide assurance that brings worldwide recognition and acceptance of our products.
As stipulated in the Group’s “Quality Policy”, we are committed to supplying 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 business associates who distribute our products within their respective markets.
To enhance the long-term sustainability of the Group and to add new revenue streams, the Group had on 7th August 2019 completed its acquisitions of EPE Busway Sdn Bhd and Mittric Systems Sdn Bhd. These newly-acquired subsidiary companies are principally involved in the manufacturing and trading of low and medium voltage busway (also known as busduct) systems. These systems, like the Group’s protective relays, power meters and power regulators are components used in electricity distribution systems and they will expand the Group’s product range, enabling the Group to capture a bigger share of any electrical engineering project. The said systems are also type-tested and certified to compliance with IEC Standards, UL Standards, EN Standards and Malaysia Standards by testing & certification bodies likes ASTA, DEKRA, UL and Sirim Malaysia, where applicable.
To our suppliers, the Group practises transparent and fair procurement policies so that as our business partners, they are assured that they can rely on us.
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.
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. The Annual Dinner for 2019 was held at Mikro office on 22 February 2019.
The Group also recognises that Industry 4.0 will require it to move towards a manufacturing process whereby machines are augmented with wireless connectivity and sensors, connected to a system that can visualise the entire production line and make decisions on its own. This process would include cyber-physical systems, the internet of things, industrial internet of things, cloud computing, cognitive computing and artificial intelligence. These would place pressure on the Group to 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 people across all walks of life. We have from time to time made donations to various charitable organisations. In April 2019, a team of 20 personnel representing the Group visited Rumah Jagaan & Rawatan Orang Tua Al-Ikhlas located at Puchong, Selangor and donated food and 2 wheel chairs to the home. Helping these homeless senior citizens is one of our way of giving back to society.
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.