Versatile Creative Berhad

Climate Impact & Sustainability Data (2018, 2024)

Adhering to stringent environmental standards resulting in subsidiaries being accredited with ISO 14001:2004, ISO 9001:2008, FSSC 22000, and Sedex membership.
Implemented waste reduction and environmental control programs.
Obtained Forest Stewardship Council (FSC) Certificate in 2014.

Offered competitive remuneration packages, incentives, group hospitalization insurance, and medical benefits to employees.
Provided various training and development programs for employees.
Offered internship programs to students.
Provided a safe and healthy working environment with Personal Protective Equipment and periodic health checks.
Organized outdoor and in-house recreational activities to promote staff unity and team spirit.

Committed to strong sustainability governance by integrating sustainability processes into business strategy.
Adhered to corporate governance guidelines set by Bursa Malaysia Berhad, Ministry of Finance, and Securities Commission Malaysia.
Maintained an effective control structure for proper conduct of business operations, including Audit, Nomination and Remuneration Committees.

Drop in colour separation and printing segment revenue due to loss of major customers.
Reduction in profits due to outsourced printing jobs and increase in impairment of receivables.
Major repair works required for machines and moulds in the plastic products segment, affecting gross margin.
Increase in administrative expenses and impairment of trade debtors in the plastic products segment.
Increasing raw material costs.

Outsourcing printing jobs to cope with increased sales orders.
Implementing cost-saving measures in the colour separation and printing segment.
Focusing on machine acquisitions and reconditioning to improve efficiencies and productivity.
Strategies to grow sales via penetration of new market segments, regaining orders from old customers, and improving market share.
Production strategies to reduce material wastages and marketing strategies to regain orders from old customers.
Re-positioning the colour separation and printing division with emphasis towards more interactivity with customers and rationalizing its product range.
Relocation of key business units to one factory to reduce administrative and staff costs.

Established a Board Charter to define roles and responsibilities of Directors and Management.
Adopted a Code of Ethics for Directors.
Formulated a Whistle Blowing Policy.
Implemented a Directors’ Fit & Proper Policy.
Undertook an annual assessment of the performance of the Board, Board Committees, and individual Directors.

Board composition does not fully comply with the Malaysian Code on Corporate Governance (MCCG) regarding the percentage of independent directors and women directors.

The Board acknowledged the MCCG recommendations and will relook into the composition of the Board Committees to comply with Practice 1.4 (Chairman not being a member of Audit, Nomination, or Remuneration Committees).
The Board is in the midst of formulating a gender diversity policy.
The Board will review the policy and amend it to comply with Practice 9.2 (cooling-off period for former audit partners).

Frameworks Used: MCCG