Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environment
• Shareholders
• Community
• Employees
• Suppliers
• Competitors

Environmental Achievements

• Not disclosed

Social Achievements

• Mother and Child Care Awareness Program in conjunction with Fareea Lara Foundation since 2006
• SINGER Sewing Academy for income generation and community engagement
• Various training programs and workshops for employees

Governance Achievements

• Adherence to good Corporate Governance principles
• Compliance with all requirements of Corporate Governance as required by the Bangladesh Securities and Exchange Commission
• Establishment of Board Committees (Audit, Remuneration, Nomination)

Climate Goals & Targets

Environmental Challenges

• Political disturbance throughout the country, hampering procurement, production, and sales
• Political unrest impacting consumer demand
• Increased electricity charges
• Challenging business environment with low consumer demand

Mitigation Strategies

• Import restricted to fast-selling products
• Cost curtailment across all activities
• Increased collection drive utilizing call center and traditional methods
• Cleaning drive to clear slow and obsolete products
• Aggressive advertisement campaign and market offerings

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Bangladesh Financial Reporting Standards (BFRS)/ Bangladesh Accounting Standards (BAS), Companies Act 1994, Bangladesh Securities and Exchange Ordinance 1969, Bangladesh Securities and Exchange Rules 1987

Certifications: Null

Third-party Assurance: S. F. Ahmed & Co. Chartered Accountants

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Certificate of Merit from the Institute of Chartered Accountants of Bangladesh (ICAB)
• BusinessAsia Most Respected Company Awards 2013
• Dun & Bradstreet Corporate Awards 2012

Environmental Metrics

ESG Focus Areas

• Corporate Social Responsibility

Social Achievements

• Donated Taka 1.4 million to Fareea Lara as part of CSR program
• Mother and Child Care Awareness Program in conjunction with Fareea Lara Foundation
• Singer Sewing Academy for income generation and community engagement

Governance Achievements

• Received National Award for Corporate Governance Excellence 2013 from the Institute of Chartered Secretaries of Bangladesh (ICSB)

Climate Goals & Targets

Environmental Challenges

• Unfavorable economic environments
• Political unrest and strikes affecting business
• Depressed economy affecting consumer spending
• Credit crunch impacting machinery and raw material imports
• Increased electricity tariffs
• Collection difficulties due to challenging economy

Mitigation Strategies

• Restricted product imports to fast-selling items
• Implemented cost control programs
• Geared up collection drive utilizing call center and traditional methods
• Cleaning drive to reduce slow and obsolete products
• Aggressive advertising and promotional campaigns
• Strengthened distribution channels (new outlets and renovations)

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: IFRS, BAS

Third-party Assurance: S. F. Ahmed & Co., Chartered Accountants

Awards & Recognition

• National Award for Corporate Governance Excellence 2013 (ICSB)
• ICAB National Award (Second Prize) for Best Presented Annual Report 2013
• ICMAB Best Corporate Award 2014 (Third Position)
• Certificate of Merit from SAFA for Best Published Accounts and Reports for 2013

Environmental Metrics

ESG Focus Areas

• Consumers
• Suppliers
• Shareholders
• Competitors
• Community
• Employees
• Environment

Social Achievements

• Singer Sewing Academy trains young women to earn income and helps staff earn a reasonable income.
• Provides Singer Sewing Machines to trainees free of cost.

Governance Achievements

• Received the National Award for Corporate Governance Excellence 2014 (Gold Award) from the Institute of Chartered Secretaries of Bangladesh (ICSB).
• Obtained a Certificate of Appreciation from the Institute of Chartered Accountants of Bangladesh (ICAB) for “Best Presented Annual Report 2014”.

Climate Goals & Targets

Environmental Challenges

• Widespread civil unrest at the beginning of the year severely disrupted trading.
• Subdued market conditions for several months.
• Challenging economy and adverse environmental conditions affecting collections.

Mitigation Strategies

• Strict control of inventory by reducing purchases and focusing on fast-moving products.
• Clearance sales of slow-moving products.
• Emphasis on receivable collections and control of arrears.
• Cost control.

Supply Chain Management

Climate-Related Risks & Opportunities

Awards & Recognition

• National Award for Corporate Governance Excellence 2014 (Gold Award)
• Certificate of Appreciation for Best Presented Annual Report 2014