Yoong Onn Corporation Berhad
Climate Impact & Sustainability Data (2023-07 to 2024-06)
Reporting Period: 2023-07 to 2024-06
Environmental Metrics
Total Energy Consumption:1600.48 MWh/year
Water Consumption:15.21 megalitres/year
ESG Focus Areas
- Energy Efficiency and Climate Resilience
- Environmental Compliance
- Waste Management
- Occupational Health and Safety
- Training and Development
- Diversity and Inclusion
- Employee Safety, Health & Well-being
- Economic Performance
- Good Governance Practices
- Supply Chain Management System
- Data Privacy
Environmental Achievements
- Installed a 671KW solar photovoltaic module system, yielding cost savings of more than 50% of factory and warehouse energy costs.
- Implemented electricity saving initiatives (lights off during breaks, LED lights), and promoted e-communication to reduce paper usage.
- Implemented waste separation scheme to segregate waste for recycling.
Social Achievements
- Zero work-related fatalities and Lost Time Incident Rate (LTIR).
- Provided transport for factory workers and bicycles for night shift foreign workers.
- Organised communication sessions, social events, seminars, courses, and team building activities.
Governance Achievements
- Established Anti-Bribery and Corruption Policy, Code of Conduct and Ethics, Conflict of Interest Policy, Fit and Proper Policy, and Whistle-blowing Policy and Procedures.
- 48% of management-level employees received training on anti-corruption.
Climate Goals & Targets
Environmental Challenges
- General downturn in the global, regional, and national economy.
- Entry of new players and constraints in skilled labor supply.
- Changes in law and tax legislation, increased production costs, and fluctuations in foreign exchange rates.
- Competition from other manufacturers.
- Keeping abreast with the latest trends and designs in the home linen industry.
- Shortage of skilled foreign labor.
- Foreign exchange risks.
Mitigation Strategies
- Maintaining good business relationships with customers and suppliers.
- Increasing automation to reduce dependency on labor and efficient cost control.
- Diversification and increasing product range.
- Outsourcing to overseas contractors if needed.
- Regularly introducing new designs based on market intelligence and customer feedback.
- Participating in the Government’s rehiring program and sourcing from local agencies.
- Employing more local staff and procuring higher semi-finished products from overseas.
- Maintaining foreign currency bank accounts and using forward contracts for import purchases.
Supply Chain Management
Responsible Procurement
- Prioritising sourcing from local suppliers.
Climate-Related Risks & Opportunities
Opportunities
- Energy efficiency presents opportunities for cost savings, reduced environmental impact, and improved operational performance.
Reporting Standards
Frameworks Used: Bursa Malaysia’s Sustainability Reporting Guide (3rd Edition)