Chairman & CEO Message
We are pleased to present the first Sustainability Report (the "Report") of Hiap Hoe Limited ("Hiap Hoe" or the "Group"). This Report aims to inform stakeholders of Hiap Hoe about our sustainability performance in a transparent and accountable manner for the period 1 January 2017 to 31 December 2017 ("FY2017"). The Report covers the Group's strategies, initiatives and performance in relation to economic, environmental, social and governance factors.
This report has been prepared in accordance with the Global Reporting Initiative ("GRI") Standards, the "Core" option.
At Hiap Hoe, we recognise that sustainability forms an integral part of our operations and strategies, and we strive to drive our operations in the direction in which we can contribute positively to all of our stakeholders. We have identified 14 indicators that matter most to our business, and to both internal and external stakeholders. These material issues are taken into account through our four sustainability strategies - Business Integrity, Environmental Sustainability, Human Capital and Health & Safety.
The economic, environment, social, and governance landscape is constantly evolving, and we recognise the need to adapt our operations to accommodate these changes.
Hiap Hoe will continue to consider sustainability issues as part of our strategic formulation and operations across the Group. We appreciate having all our stakeholders on this journey together with us, to build a more sustainable future. 102-14
Ronald Lim Cheng Aun
Independent Non-Executive ChairmanTeo Ho Beng
Chief Executive Officer
Environment Sustainability
Human Capital
Our Sustainability
Strategies
Business Integrity
Health & Safety
1
Our Approach to Sustainability
GRI Guidelines
This report is prepared based on the GRI Sustainability Reporting Standards 2016, in accordance with the Core option. The GRI content index and relevant references are provided on pages 15 - 18. We have not sought external assurance for this reporting period.
102-54 102-56
Reporting Period
Hiap Hoe's Sustainability Report is published on an annual basis. This is the first year Hiap Hoe is preparing the Sustainability Report and the report covers the Financial Year ("FY") 2017, for the period 1 January 2017 to 31 December 2017. 102-49 102-50 102-51 102-52
Reporting Scope
The data, statistics and improvement targets in the report focus on our Hospitality and Property Development operations in Singapore and Australia respectively. Hiap Hoe's hotel operations in Singapore include Ramada Singapore At Zhongshan Park and Days Hotel Singapore At Zhongshan Park ("Ramada and Days Hotel"). The property development refers to the residential waterfront development, Marina Tower, in Melbourne.
There are no restatements of information in this report. 102-48
Feedback
Our stakeholders' views are important to us and we welcome feedback on this report and any aspect of our sustainability performance. You may provide feedback to the Executive Director, Marc Teo, athiaphoe@hiaphoe.com.
102-53
Our Sustainability Structure
The Group's sustainability drive is spearheaded by the Sustainability Committee which oversees group-wide sustainability strategies and initiatives.
Our Approach to Sustainability
Our Sustainability Strategy
Hiap Hoe's sustainability strategy to develop and operate properties with sustainable business objectives that will benefit future generations, was formalised by the Sustainability Committee in 2017. Hiap Hoe places sustainability at the core of our strategy and operations to create sustainable value for all our stakeholders.
Stakeholder Engagement
Collaboration with our stakeholders supports us in addressing sustainability challenges and opportunities. We engage with our stakeholders regularly and incorporate relevant and appropriate feedback into our plans and
actions. 102-40 102-42 102-43 102-44
Identification of the various stakeholders is based on our respective economic, social and environmental impacts in the context of our value chain.
Stakeholders | Stakeholders' Expectations/Concerns | Engagement Platform |
Employees | Occupational health and safety Fair labour practices and compensation Professional development | Trainings Grievance/ feedback channels Regular reviews and appraisals Intranet platform for policies, news and benefits |
Customers | Service quality and excellence Timely follow-up on customer feedback Food safety Information and data security | Feedback channels such as email and telephone communications Corporate website, email and newsletters |
Suppliers | Clear two-way communication channels Timely feedback regarding materials/ services provided | Quotations and proposal requestsfor Supplier meetingsto discusssustainable sourcing opportunities |
Shareholders & Regulators | Business resilience and financial performance Business strategy and direction Corporate governance and compliance Transparent and timely communication information of | Results announcements and news releases Corporate website and email. |
Our Approach to Sustainability
Materiality Review Process
The materiality principle is applied to define the content of the Sustainability Report. As part of Hiap Hoe's process to determine materiality, internal strategic reviews and sustainability workshops, some of which were moderated by external consultants, were conducted during the year. During these sessions, the Group reviewed its vision, mission and core values, strategic direction, sustainability impacts and material topics.
We reflected on significant economic, environmental and social impacts to determine aspects that are material to the organisation. As a result, indicators of the GRI's Sustainability Reporting Standards 2016 were assessed and we identified the following 14 indicators that are relevant to the respective businesses of Hiap Hoe.
The materiality assessment was subsequently endorsed by Hiap Hoe's Sustainability
Committee.102-46 102-47
GRI Indicators | Hotel Operations | Property Development | ||
Environment | ||||
Energy | 302-1 | Energy Consumption within the Organisation | * | |
302-4 | Reduction of Energy Consumption | * | ||
302-5 | Reductions in Energy Requirements of Products and Services | |||
Water | 303-1 | Total Water Withdrawal by Source | * | |
Compliance | 307-1 | Non-compliance with environmental laws and regulations | ||
Economic | ||||
Economic Performance | 201-1 | Direct Economic Value Generated and Distributed | ||
Social | ||||
Anti-Corruption | 205-2 | Communication and Training on Anti-Corruption policies and procedures | * | |
205-3 | Confirmed Incidents of Corruption and Actions taken | |||
Employment | 401-1 | New employee hires and employee turnover | * | |
Occupational Health & Safety | 403-2 | Type of Injury and Rates of Injury, Occupational diseases, Lost days, and Absenteeism, and number of Work-Related Fatalities | * | |
Non-discrimination | 406-1 | Incidents of discrimination and corrective actions taken | * | |
Customer Health and Safety | 416-2 | Incidents of non-compliance concerning the health and safety impacts of products and services | * | |
Customer Privacy | 418-1 | Total Number of Substantiated Complaints regarding breaches of Customer Privacy and losses of Customer data | * | |
Compliance | 419-1 | Non-compliance with laws and regulations in the social and economic area |
* Not applicable as the development and project management activities of Marina Tower was fully outsourced to a third-party consultant. There is no headcount for the Property Development business.
Attachments
- Original document
- Permalink
Disclaimer
Hiap Hoe Limited published this content on 25 October 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 25 October 2018 10:37:04 UTC