Through our pledge to meet the objectives of the sustainable development agenda, we take responsible for our environment, social and economic impact to account for present and future needs, via sustainable ideas and approaches into our operation across.
Organisation Profile
Marco Holdings Berhad (“MHB”) and its groups of subsidiaries (“Group”) are listed on the Main Market of the Bursa Malaysia Securities Berhad (Bursa Malaysia or the Exchange). Our Group operates principally in Malaysia, and our principal activities include wholesale and distribution of timepieces, consumer technology and electronics products and electronic musical instruments. We have investment properties in Melaka and Kuala Lumpur. Led by a qualified and experienced management team with a staff strength of about 100, our Group has built a solid accomplishment over the last 50 years. In year 2022, we celebrated our 50th Anniversary. With the slogan “Growing with Digitalization”, we continue to advocate the changes for sustainability via digitalisation in our business process.
About The Sustainability Statement
We recognise the need to disclose information in a comparable and transparent manner, This Sustainable Statement complies in the Annual Report of Listed Issuers (‘Guidelines”) issued by Bursa Malaysia Securities Berhad. It covers our responsibilities to our stakeholders and the development in sustainability we have made and should be read in conjunction with the Annual Reports to respective years. The content presented in the statement is divided in two sections. Section 1 gives an overview of this statement. Section 2 outlines our sustainability governance structure and strategy, followed by our approach to stakeholder engagement and defining material ESG topics. In the same section, we have aligned our sustainability efforts to specific UNSDGs. We have demonstrated our progress against our sustainability targets.
Approach to Sustainability and Commitment
MHB always strive to embed our group’s values and its policy and associated commitments for promoting sustainable practices and disclosures toward our present & future needs. The increased familiarisation towards Environment, Social & Governance (ESG) practices have enabled the key pillar for us to measure in sustainability when doing business.
Our sustainability approach also sets a clear direction for our business while guiding the development of our strategies to boost performance across all business segments, referencing to the blueprint named as the Sustainable Development Goals (SDG) set by United Nation. At MHB and the group of companies, we aimed to make a meaningful difference to the way our businesses operate so that we create sustained values to managing our environment footprint, looking after people, communities & social welfare and delivering customer satisfactions, product and service excellence. We embed a responsible and sustainable approach across the Group.
MHB are now more incline toward solutions that are able to integrate sustainability into our developments and business activities to achieve a meaningful sustainable framework as illustrate below
SUSTAINABLE Goals for MHB
MHB’s Interactive Engagement Process
Back in 2022, the company set up a Cross Functional Sustainable Team (“CFST”) to enhance governance of sustainability-related issues. The Board maintains oversights of the Group’s sustainability direction and management of key material issues guided by the recommendations of the CFST, this means ensuring the implementation of a strong governance’s system, safeguarding our operations, and supporting the safety and well-being of our employees.
The Board is kept apprised of sustainability programmes, and activities and reviews the sustainability strategy periodically. The strategy is reviewed against the overall business strategy, taking into consideration prevailing trends, economic conditions and geopolitical issue which may affect the group.
Reporting to the Board, the CFST has been set up to champion our sustainability causes, as well as to spearhead sustainability projects and initiative. The CFST leads the development of ESG Strategy, setting sustainability performance benchmarks and providing information across business operation. The CFST also accessed the ESG material factors and determined that the factors identified are incorporated into our corporate agenda and remained relevant.
We conducted a review onto materiality assessment to achieve better understand the sustainability impacts, risks and opportunities for MHB across the organization. This process helped us better understand the constantly evolving priorities of our stakeholders (Investors, Customers, Employees, Regulatory Authority, Business Partners, Local Communities).
Based on the results, we identified the ESG topics to our company. These topics were divided into three categories to align with MHB’s sustainability goals and ESG framework:
For our focus categories, we developed multistep plans with goals and timelines to ensure we make meaningful progress toward our goals. We also created a list of action plans on area that we can do better and identified best practices on area that we can maintain with mitigation efforts.
The above is an indispensable process through which MHB could constructively identifies, assesses, and prioritizes on ESG topics.
