Climate Change Data

Environmental Metrics

ESG Focus Areas

• Occupational Health and Safety
• Talent Retention
• Research and Development/Innovation
• Customer Privacy
• Product Quality and Safety
• Socioeconomic Compliance
• Economic Performance

Social Achievements

• In FY2021, there were no workplace injuries or fatalities.
• In FY2021, our employees achieved an average of 35 training hours.
• In FY2021, Biolidics developed its own neutralising antibody COVID-19 test kit that is embedded with a technology licensed from A*STAR (“ClearEpi NAB Test”). The Group had in September 2021, obtained the CE marking for the ClearEpi NAB Test, and had in December 2021, commenced the commercial production of the ClearEpi NAB Test.

Governance Achievements

• The Board has reviewed its corporate governance practices and ensured that they are in compliance with the applicable provisions of the Code of Corporate Governance 2018 (the “Code”) issued by the Monetary Authority of Singapore.

Climate Goals & Targets

Environmental Challenges

• The onset of the COVID-19 pandemic presented severe challenges to the business of the Group. Borders were closed in the Group’s key markets in Europe, USA and East Asia, and travel and movement restrictions were put in place in most cities around the world.
• Decrease in sales of the Group’s COVID-19 related products which amounted to S$1.81 million in FY2021, as compared to S$7.81 million in FY2020. The decrease was due to a growing supply of COVID-19 antigen and antibody test kits which led to a highly competitive market under the constraints of intense price competition.
• The rapidly evolving nature of the COVID-19 pandemic exposed the Group to various uncertainties and challenges such as the emergence of competing and newer technologies, product regulatory changes, travel policies and restrictions, and shifting of priority from other diseases to focus on COVID-19.

Mitigation Strategies

• The Group will constantly review its product and service offerings in order to adapt to changes and challenges in its operating environment to enable its business activities to stay relevant and sustainable.
• The Group will also explore other opportunities to grow its business, as well as look to fundraising opportunities to strengthen its financial position.
• The Group will seek to constantly review its product and service offerings in order to keep pace with the above-mentioned uncertainties and challenges and ensure that the Group’s business continues to stay relevant and sustainable.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards

Certifications: ISO 13485

Sustainable Products & Innovation

• ClearEpi NAB Test

Environmental Metrics

ESG Focus Areas

• Economic Performance
• Climate Change Mitigation and Adaption
• Occupational Health and Safety
• Talent Retention
• Diversity, Equal Opportunity and Non-discrimination
• Research and Development/Innovation
• Customer Privacy
• Product Quality and Safety
• Anti-corruption
• Environmental and Socioeconomic Compliance

Environmental Achievements

• In FY2022, the Group's greenhouse gas ("GHG") emissions intensity was 0.03 tCO2e/thousand revenue (S$).

Social Achievements

• In FY2022, there were no workplace injuries or fatalities.
• In FY2022, employees of the Group achieved an average of approximately 43 training hours.
• In FY2022, no incidents of discrimination were reported.
• Customer satisfaction survey: 80% average rating in customers' satisfaction with the ClearCell® FX1 System from at least 10 responses to the customer survey.
• Product quality: 100% pass rate for the ClearCell® FX1 System prior to release. There were less than 5% of CTChip® FRI biochip failure due to leaky chip.
• Customer feedback response time: 100% customer feedbacks/complaints acknowledged within 7 days.
• Corrective action preventive action ("CAPA") response time: All CAPA investigations and implementations of proposed CAPA actions were completed within 1 month and 3 months, respectively.
• Field safety corrective action: zero product recall.

Governance Achievements

• In FY2022, there were zero confirmed incidents of corruption/public legal cases regarding corruption brought against the Group.
• Zero instance of non-compliance with laws and regulations in the environmental, social and economic areas.

Climate Goals & Targets

Environmental Challenges

• Due to the rapidly evolving nature of the COVID-19 pandemic, the demand for COVID-19 PCR tests continues to be exposed to various uncertainties and challenges such as the emergence of competing and newer technologies, product regulatory changes, and changes in travel policies and restrictions as well as emergence of new competitors providing similar PCR test services.
• The COVID-19 pandemic has also resulted in significant delays to the Group's development of its cancer business segment.
• The Group faced a highly competitive market in FY2022 as the growth in supply of COVID-19 antigen and antibody test kits led to intense price competition and eventually a commoditisation of antigen rapid test ("ART") test kits in Singapore and other countries.
• rising cost of conducting business

Mitigation Strategies

• The Group will continue to review its product and service offerings in order to keep pace with the uncertainties and challenges and ensure that the Group's business remains relevant and sustainable.
• The Group will also continue to explore merger and acquisition opportunities to improve its financial performance.
• implemented cost rationalisation measures such as streamlining of its manpower structure, scaling down of the R&D activities for its cancer business segment, and reducing the engagement of external service providers.
• completed a rights issue in December 2022 and may explore opportunities to monetise its assets, including its intellectual properties which is encapsulated in the ClearCell® FX1 system as well as fund raising opportunities, including undertaking equity issuances in the future.

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks

• extreme weather events such as heavy rainfall and extreme heat

Transition Risks

• laws and regulations related to climate change will become more stringent and more demanding, with developments such as more aggressive government policies and measures to limit GHG emissions, in addition to carbon taxes

Opportunities

• transition to a low-carbon business model

Reporting Standards

Frameworks Used: GRI Standards

Certifications: ISO 13485:2016

Environmental Metrics

ESG Focus Areas

• Economic Performance
• Climate Change Mitigation and Adaptation
• Occupational Health and Safety
• Talent Retention
• Diversity, Equal Opportunity and Non-discrimination
• Research and Development/Innovation
• Customer Privacy
• Product Quality and Safety
• Anti-corruption
• Environmental and Socioeconomic Compliance

Environmental Achievements

• Maintained zero fatalities and workplace injuries.
• Achieved an average customer satisfaction rating of 80% with the ClearCell® FX1 System.
• Achieved a 100% pass rate for the ClearCell® FX1 System prior to release and maintained the CTChip® FRI biochip failure rate due to leaky chips below 5%.
• Maintained zero product recall.

Social Achievements

• All permanent employees completed at least 20 hours of training per year.
• Achieved zero reported incidents of discrimination.
• Maintained at least 50% of employees as female.
• 100% return-to-work rate for employees after parental leave.

Governance Achievements

• Maintained zero confirmed incidents of corruption.
• Maintained zero non-compliance with laws and regulations in environmental, social, and economic areas.

Climate Goals & Targets

Environmental Challenges

• Decreased revenue due to decreased demand for PCR testing services and intense price competition on ART kits.
• Weakening liquidity position.
• Transition risks related to stricter climate change regulations and stakeholder preference for low-carbon products.

Mitigation Strategies

• Streamlined operational efficiency and rationalised costs.
• Explored alternative financing options, including share issuances to Mr. Zhu Hua and Mr. Zhou Chao.
• Diversification into Multi-Channel Networking, E-Sports, and Live-streaming.
• Cost cutting measures.
• Implementation of a Climate Change Policy and enterprise risk management process including climate change risks.

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events (heavy rainfall and extreme heat)

Transition Risks

• Stricter government policies and measures to limit GHG emissions, carbon taxes, legal risks, compliance requirements, higher operating costs.

Opportunities

• Transition to a low-carbon business model, seizing business opportunities from customers who recognize environmental initiatives.

Reporting Standards

Frameworks Used: GRI Standards, TCFD

Certifications: ISO 13485:2016