ABOUT THIS REPORT
SUSTAINABILITY
In 2022, UEM Sunrise produced a Sustainability Statement in line with our progress to aligning our reporting practices more closely with Integrated Reporting. Thus, while there are specific sections with disclosures about our economic, environmental and social initiatives, narratives of these elements
FORWARD-LOOKING STATEMENTS
Throughout the Integrated Report, we use forward-looking statements that relate to the plans, goals, strategies and future operations and performance of our organisation. These statements are not guarantees of future performance, as they involve risks and assumptions in the context of potential scenarios. While we endeavour to progress with our strategies
In mitigating the impact brought on by the pandemic, UEM Sunrise Berhad (UEM Sunrise or the Company) has intensified its digital-first approach through seamless
COVER RATIONALE
STRONGER TOGETHER
will also be embedded throughout the Integrated Report. This year, you will find the following sustainability content in these sections.
• | Our Approach to Sustainability | pages 4 to 5 | |
• | Sustainability Statement | pages 130 | to 173 |
• | Our Material Matters | pages 74 to 77 | |
• | Sustainability Governance | pages 136 | to 137 |
and 209 |
and plans, changes in macroeconomic and operating landscapes may require us to adapt to follow suit.
UNITED NATIONS SUSTAINABLE DEVELOPMENT GOALS (UN SDG)
As part of UEM Sunrise's strategy, we have prioritised
the following SDG to ensure our business is environmentally, socially and economically sustainable:
and elevated customer experiences. Virtual tours, a revamped and optimised website with live chat and chatbot as well as the hUb Prop mobile application are among the tools and initiatives introduced as
At UEM Sunrise, we believe in the power of unity and collaboration, which is reflected in the theme of 'Stronger Together' as we take firm and proactive action to future-proof our products and achieve greater efficacy.
We recognise the importance of strengthening our fundamentals and putting in place the relevant building blocks to rebuild stronger and drive competitiveness. By doing so, we are paving the way towards becoming a balanced real estate player that is resilient, agile and sustainable.
As a leading property developer, we remain in tune with the needs
of our customers. We strive to deliver excellence and value in all that we do, and we understand that we cannot do this alone. It is only through
FEEDBACK
We value your feedback as we continuously strive to improve our reporting. For feedback and enquiries regarding our reporting suite and information contained within, please contact our Investor Relations team at: ir@uemsunrise.com
NAVIGATION ICONS
United Nations Sustainable Development Goals Adopted
For more information on our Sustainable Development Goals (SDG), please visit our website uemsunrise.com/sustainability
adaptable solutions in keeping with customers' needs during the current operating environment.
collaboration with our customers, partners, and stakeholders that we can achieve our goals and aspirations.
Together, we can create a better future for ourselves and the communities we serve by working hand-in-hand, where we can all thrive and prosper. Stronger together, we can overcome any challenges and achieve greatness.
Our Capital
- Financial Capital
- Manufactured Capital
Material Matters
M1 Customer
Management
M2 Economic Presence
M3 | Ethical Business |
M14 | Indirect Economic |
Impacts | |
M15 | Water and Effluents |
M16 Biodiversity
Our Strategic Thrust
Triage Sustain
SCOPE AND BOUNDARIES
This Integrated Report describes our financial and non- financial performances during the period from 1 January 2022 to 31 December 2022. It covers all aspects of UEM Sunrise's businesses in Malaysia, particularly in the Central and Southern regions and internationally, namely Australia and South Africa. Apart from reporting on performance, the report considers challenges to the business, and opportunities and risks that could impact our value creation process.
MATERIALITY
The principle of materiality is applied in assessing what information is to be included in our Integrated Report. This report focuses particularly on those issues, opportunities and challenges that may materially impact UEM Sunrise and our ability to be a sustainable business that consistently delivers value to our shareholders
and stakeholders. These material issues are reviewed each year during the course of the strategic planning process.
COMBINED ASSURANCE
We employ a combined assurance model to manage various aspects of our business operations, including elements of external reporting. The assurance for this report is provided by management, our internal auditors, and independent external service providers, as well as oversight by our Board of Directors.
BOARD RESPONSIBILITY STATEMENT
UEM Sunrise acknowledges its responsibility to ensure the integrity of this Integrated Report. We believe that the report addresses all material matters and provides
a balanced view of UEM Sunrise's strategy and its ability to create and preserve value in the short, medium,
and long-term. We confirm that this report has been prepared in accordance with the Framework and has been authorised for release on 28 April 2023.- Social and Relationship Capital
- Intellectual Capital
- Natural Capital
Key Risks
R1 Global Pandemic Risk
R2 Competition Risk
R3 People Risk
R4 | Regulatory and |
Corruption Risk | |
R5 Financial Risk
R6 Operational Risk
Practices |
M4 Employee Management
M5 Health and Safety
M6 | Data Privacy and |
Cybersecurity | |
M7 Climate Change
M8 Local Community
M9 Waste
M10 Supply Chain Management
M11 Human Rights
M12 Market Presence
M13 Materials
M17 Procurement Practices
Key Stakeholders Groups
Customers and
Tenants
Employees
Investors, Shareholders,
Analysts
Business Partners
(MoU, Joint Venture)
Government Agencies,
Authorities
Banks, Rating Agencies,
Sukuk Holders
Service Providers
(Vendors, Suppliers,
Contractors, Lawyers)
Media
Local Communities
Stabilise
WHAT'S INSIDE
This Integrated Report is available at
uemsunrise.com
ABOUT THIS REPORT SUSTAINABILITY @ UEM SUNRISE
OVERVIEW OF UEM SUNRISE
- Vision | Mission | Values
- Who We Are
- Our Property Portfolio
-
2022 Performance Snapshot
10 Financial Highlights
11 Business Highlights
12 Sustainability Highlights
- 2022 Significant Events
- Awards & Recognitions
- What Differentiates Us
- Indices Representation/Credit Ratings
- Our Strategic Partners
- Group Corporate Structure
- What We Do: Core Business Segments & Highlights
- Our Presence
LEADERSHIP INSIGHTS
26 Chairman's Statement
32 From the Desk of our CEO
VALUE CREATION AT UEM SUNRISE
- Integrated Approach to Value Creation
- Our Value Creation Model
- Performance by Capitals
- Stakeholder Engagement & Value Creation
MANAGEMENT DISCUSSION AND ANALYSIS
-
Strategic Review
68 Property Market & Outlook
72 Key Market Trends Shaping Our Business
74 Our Material Matters
78 Key Risks and Mitigations
81 Our Strategy
82 Strategic Performance Review
87 Key Performance Indicators - Financial Performance Review
90 Financial Review by Chief Financial Officer
94 Five-Year Financial Highlights
95 Five-Year Group Performance
96 Five-Year Financial Review of the Group
97 Group Quarterly Performance
98 Segmental Analysis
99 Simplified Group Statements of Financial Position
100 Statement of Value Added
101 Financial Calendar
102 Investor Information - Business Review
109 Central Region
117 Southern Region
125 International
SUSTAINABILITY
- Sustainability Statement
- Sustainability Governance
- Sustainability Risk Management
- Economic Impact
- Environmental Impact
- Social Impact
CHIEFs Hafrizam, Ailing, Syaza and Yuki embracing the CHIEFs' core values of Caring, Honest, Involved, Enthusiastic and Fun-loving
LEADERSHIP
- Corporate Information
- Board at a Glance
- Board of Directors' Profile
- Joint Secretaries
- Senior Management Team's Profile
- Leadership Team
- Organisation Structure
COMMITMENT TO STRONG GOVERNANCE
- Corporate Governance Overview Statement
- Audit Committee Report
- Statement on Risk Management and Internal Control
- Risk Management Report
- Additional Compliance Information
- Directors' Responsibility Statement in respect of Audited Financial Statements
FINANCIAL STATEMENTS
244 Directors' Report
- Statement by Directors
- Statutory Declaration
- Independent Auditors' Report
- Statements of Profit or Loss
- Statements of Comprehensive Income
- Statements of Financial Position
- Statements of Changes in Equity
- Statements of Cash Flows
- Notes to the Financial Statements
SHAREHOLDERS' INFORMATION
375 GRI Content Index
381 Analysis of Shareholdings
- Material Properties of UEM Sunrise Berhad Group
- Notice of Annual General Meeting
389 Statement Accompanying Notice of Annual General Meeting
• Form of Proxy
4 | UEM Sunrise Berhad |
Integrated Report 2022 |
SUSTAINABILITY @ UEM SUNRISE
UEM Sunrise continues to create value and positive impacts for our business and stakeholders as we embrace sustainability in every step of decision-making. As a responsible developer, we have long recognised the need to balance contributions to the environment, society and economy, which are all crucial in preserving our long-term growth.
As such, we are committed to long-term value generation with our developments and continue to design townships that fulfil communities' social, physical and spiritual needs.
We adopt a holistic approach to our sustainability agenda, as guided by the UEM Sunrise Sustainability Blueprint 1.0 (Sustainability Blueprint). The blueprint is anchored on our four pillars for sustainability: Liveability, Affordability, Sustainability and Resilience.
Among the action plans under the Sustainability Blueprint is to improve the sustainability of our design processes via the development of Sustainable Development Design Guidelines (SDDG). The SDDG will be a reference guide for us to comply with when integrating sustainability elements into our design decision. As we are committed to delivering our aspirations under the Sustainability Blueprint, we place high importance on the development of the SDDG.
The SDDG is currently being devised. We plan to seek the Board's consent upon completion and target to distribute it to relevant stakeholders, i.e. our designers and engineers, for them to entrench into their design processes directly contributing to our sustainability movement.
Carbon | |
Neutrality | Sustainability |
2050 | Blueprint |
Ambition
Zero 2040
Liveability | Affordability | Sustainability | Resilience |
Building a Low | Digital & | Talent & | Stakeholder | Strategic | Value- |
Carbon Future | |||||
Innovation | Knowledge | Engagement | Partnership | proofing | |
by 2030 | |||||
5
UEM SUNRISE SUSTAINABILITY MILESTONES
Committed to a low carbon future by 2030 and Carbon Neutrality by 2050
Developed a framework | |||||
Achieved Green Building | to encapsulate and | ||||
certifications for three | strengthen sustainability | ||||
projects | practices within | Presented | |||
UEM Sunrise | |||||
the Sustainability | |||||
Blueprint to the | |||||
Board for approval | |||||
and execution | |||||
at the organisation | |||||
level | |||||
2015 | 2020 | 2021 | 2022 |
Initiated the | ||
development of | ||
Established a Sustainability | the SDDG for the | |
Sukuk Framework to | ||
Board of Directors' | ||
manage the ASEAN | ||
endorsement | ||
Sustainability SRI Sukuk | ||
Murabahah | ||
Launched an inaugural | |
UEM Sunrise partnered | |
campaign Towards Safety, | with GENTARI and |
Health and Environment | PETRONAS Global |
Excellence (SHE Excellence) | Technical Solutions |
Sdn. Bhd. |
6 | UEM Sunrise Berhad |
Integrated Report 2022 |
OVERVIEW OF UEM SUNRISE
Vision
7
MissionValues
Building communities of the future with you and for you.
Who We Are
UEM Sunrise is a public-listed company and one of Malaysia's leading property developers. It is the flagship company for the township and property development of UEM Group Berhad (UEM Group) and Khazanah Nasional Berhad (Khazanah).
The Company has core competencies in macro township development, high-rise residential, commercial, retail and integrated developments.
It is the master developer of Iskandar Puteri, Johor, envisioned to become one of the largest fully integrated urban development in Southeast Asia. UEM Sunrise is also renowned as the pioneer award- winning developer of Mont'Kiara, an upmarket and affluent neighbourhood in Kuala Lumpur and has continued its success in numerous other areas in the Greater Klang Valley. The Company has since extended its mark internationally with acclaimed development projects in Singapore, Australia, Canada and South Africa.
Mont'Kiara
UEM Sunrise's brand essence comes from the belief that everyone has a right to happiness. Therefore, the Company will continue to create opportunities for others to find their happiness conscientiously, guided by the ethos and tagline "Find Your Happy" and driven by the core values of CHIEF (Caring, Honest, Involved, Enthusiastic, and Fun-loving) to inspire joy and happiness in one space at a time.
UEM Sunrise brings together the talented and skilled, the imaginative and the courageous. We create sustainable environments loved by homeowners, acclaimed by investors and recognised by the industry. We believe in thinking big and acting quickly to unlock potential; to thrive in a changing world.
We are CHIEF Happiness Officers; our values inspire us to create excitement and bring joyful experiences to all.
Caring
We care about others as much as doing good work. We take pride in what we do and have the desire to do the best we can consistently while conscientiously finding ways to improve. We find joy in the work we do, the people we do it with and the environment we create to do it in. We care for people, the places we create, and our planet.
Honest
This interest we have in inspiring others in their quest for happiness must come from a place of honesty. Through honesty with an intent to build, we create trust. This becomes the foundation from which our business is built on and prospers. We are here to inspire and help others find their happy through the environment we create, the products we offer, the services we provide and the initiatives we do - one space at a time.
Involved
We are actively involved in supporting our customers and stakeholders on their Find your Happy journey regardless of whether it is a masterplan we are developing, a residential tower we are building, a commercial centre we are constructing, a space we are creating or a child whose education we are helping. When we are actively involved and genuinely interested, we will always find ways to help inspire hopefulness in our customers', stakeholders' and colleagues' Find your Happy journey.
Enthusiastic
We remain optimistic and enthusiastic on the outcome and effect our efforts are contributing to the lives of all the people we touch in their Find Your Happy journey. With this enthusiasm, positivity and belief comes a confidence borne out of a principled approach.
Fun-loving
As all our ideas, creativity and decisions are made to positively impact others, we find this journey both fulfilling and enjoyable. We seek and generate ways to find the fun, excitement and happiness in everything we do, as much as we can.
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Disclaimer
UEM Sunrise Berhad published this content on 06 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 June 2023 08:01:05 UTC.