Climate Change Data

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)