Nova MSC Berhad

Climate Impact & Sustainability Data (2016, 2017, March 31, 2022)

Adequate trainings are provided to develop and upgrade skills, knowledge and attitudes of our people. We also offer our staff fair and equitable benefits packages, including insurances policies covering life, travel and hospitalization. Social gathering and yearly reviews were also organized during the year to create social balance, maintain harmony and build better rapport.

The Board of Directors (“Board”) of Nova MSC Berhad (“the Company”) recognizes the importance of good corporate governance and is committed to the establishment and implementation of a proper framework and controls that are in line with the principles and recommendations as set out in the Malaysian Code on Corporate Governance 2012 (“the Code”), where applicable.

The upheaval in the oil and commodity market, the slowing of China economy, the stagnant Eurozone economy and the U.S. Federal Reserve’s interest rate normalisation in favour of a tighter monetary policy created uncertainty and affected business sentiment.

We have embarked on a three-prong strategy to (1) broaden our marketing activities to cover more overseas markets, (2) introduce a pay-per-use business model incorporating cloud technology and (3) enter into new complimentary business segment.

Adequate trainings are provided to develop and upgrade skills, knowledge and attitudes of our people. We also offer our staff fair and equitable benefits packages, including insurances policies covering life, travel and hospitalization. Social gathering and yearly reviews were also organized during the year to create social balance, maintain harmony and build better rapport.

The Board of Directors (“Board”) of Nova MSC Berhad (“the Company”) recognizes the importance of good corporate governance and is committed to the establishment and implementation of a proper framework and controls that are in line with the principles and recommendations as set out in the Malaysian Code on Corporate Governance 2012 (“the Code”), where applicable.

higher allowance for long outstanding debt by approximately RM7.5 million, loss on de-recognition of associate of RM3.8 million, higher amortization of intangible assets by RM4.6 million and lower revenue contribution from the application software segment
lower sales orders and revenue recognition from our existing order book
slower payment and demand from some of our clients, especially those in the Middle East
competition, project implementation and rapid technological changes

continue to study the business environment, monitor the emergence of these technological trends and determine how our existing business models evolve with these new changes
enabled our product offering to be cloud based and had entered into the integrated building control and automation business segment
intensify our marketing activities, undertake relevant and innovative research and development, and enter into new and/or complimentary business segment
maintaining a level of cash and bank balances deemed adequate by the Group to finance the Group’s operations and mitigated the effects of fluctuations in cash flows

Established a Code of Conduct and Ethics policy.
Formalised a Whistle Blower Policy.
Integrated sustainability considerations into the Group's planning, performance, and long-term strategy.
Annually conducted performance evaluation of the Board.