LYC Healthcare Berhad
Climate Impact & Sustainability Data (2022, 2023, 2024)
Reporting Period: 2022
Environmental Metrics
ESG Focus Areas
- Economic Sustainability
- Social Sustainability
- Environmental Sustainability
- Governance
Environmental Achievements
- Implemented proper waste segregation and disposal in compliance with Environmental Quality (Scheduled Wastes) Regulations 2005.
Social Achievements
- Expanded confinement centre network in Malaysia (Johor Bahru), increasing bed capacity.
- Acquired T&T Medical Group Pte. Ltd. and HC Orthopaedic Surgery Pte. Ltd. in Singapore.
- Acquired 70% of Aqurate Ingredients Intl (M) Sdn. Bhd. in Malaysia.
- Implemented human capital development programs including remuneration review, employee development, and employee welfare.
- Established an Equal Opportunity Policy.
- Complies with the Personal Data Privacy Act (PDPA).
Governance Achievements
- Established a Board Charter to promote high standards of corporate governance.
- Established a Code of Conduct and Ethics.
- Established a Whistleblowing Policy and Procedures.
- Established Board Committees (Audit, Nomination, and Remuneration).
- Annual assessment of the Board, Board Committees, and individual Directors.
Climate Goals & Targets
Environmental Challenges
- Competition with new entrants or smaller industry players.
- Potential expansion of existing healthcare providers.
- Intensified competition with existing market players.
- COVID-19 pandemic impact on revenue and operations.
- Non-compliance to regulatory requirements.
- Inability to meet desired service levels.
- Safety, health, and environmental risks.
Mitigation Strategies
- Expansion of business model through strategic alliances.
- Advertising and promotion with bundles and packages.
- Cross-selling between healthcare services.
- Participation in baby fairs and expos.
- Reviewing strategy and planning to meet affordability of different markets.
- Maintaining good customer relationships.
- Upholding superior quality.
- Service differentiation by increasing value-added services.
- Established SOPs, conducted trainings, and engaged with regulatory authorities.
- Appointed confinement specialists and experienced nurses.
- Ongoing SOP trainings, on-the-job training, and supervision.
- Formalized service level agreements with service providers.
- Weekly Sales and Operations meetings, annual review of staff competencies.
- Customer feedback, food quality control, and market intelligence.
- Disciplinary action, various insurance policies, and fire-fighting equipment.
- Proper food handling, strict security control.
Supply Chain Management
Responsible Procurement
- Product quality, fair payment terms, reasonable price, and business continuity.
Climate-Related Risks & Opportunities
Awards & Recognition
- Best Confinement Centre in Malaysia
Reporting Period: 2023
Environmental Metrics
ESG Focus Areas
- Economic Sustainability
- Social Sustainability
- Environmental Sustainability
- Governance
Environmental Achievements
- Implemented proper waste segregation and disposal in compliance with Environmental Quality (Scheduled Wastes) Regulations 2005.
Social Achievements
- Implemented human capital development programs including reviewing remuneration packages and benefits, managing employee development and employee welfare.
- Implemented an Equal Opportunity Policy to ensure fair and equal opportunities for all employees.
- Complies with the Personal Data Privacy Act (PDPA) to ensure careful management of patient data.
Governance Achievements
- Established a Board Charter to promote high standards of corporate governance.
- Established a Code of Conduct and Ethics to promote ethical conduct throughout the Group.
- Established a Whistleblowing Policy and Procedures to ensure transparency and accountability.
Climate Goals & Targets
Medium-term Goals:
- Expand warehouse and office facility for nutraceutical business to cater for higher demand.
Short-term Goals:
- Continue confinement network expansions in Malaysia and explore opportunities overseas.
Environmental Challenges
- Non-compliance to regulatory requirements
- Inability to meet desired levels of service
- Safety, health, and environmental risks
- Competition risk
Mitigation Strategies
- Established SOPs, conducted trainings, continuous engagement with regulatory authorities, strict quality control, disciplinary actions, various insurance policies, fire fighting equipment, market intelligence, strategic business alliances, advertising and promotion, cross-selling, maintaining good customer relationships, upholding superior quality, service differentiation.
Supply Chain Management
Responsible Procurement
- Product quality, fair payment terms, reasonable price, and business continuity
Climate-Related Risks & Opportunities
Reporting Period: 2024
Environmental Metrics
ESG Focus Areas
- Economic Sustainability
- Social Sustainability
- Environmental Sustainability
- Corporate Governance
Environmental Achievements
- Implemented proper waste segregation and disposal in compliance with Environmental Quality (Scheduled Wastes) Regulations 2005.
Social Achievements
- Served more than 8,000 mothers and babies as of 31 March 2024.
- Implemented an Equal Opportunity Policy to ensure fair and equal opportunities for all employees.
- Focus on employee training and development programs.
- Compliant with the Personal Data Privacy Act (PDPA) for patient data.
Governance Achievements
- Established a Board Charter to promote high standards of corporate governance.
- Established a Code of Conduct and Ethics.
- Implemented a Whistleblowing Policy and Procedures.
- Established Board Committees (Audit, Nomination, and Remuneration).
Climate Goals & Targets
Short-term Goals:
- Continue confinement network expansions in Malaysia.
Environmental Challenges
- Competition with new entrants or smaller industry players.
- Potential expansion of existing healthcare providers.
- Intensified competition with existing market players.
- Non-compliance to regulatory requirements.
- Safety, health, and environmental risks.
- Inability to meet desired levels of service.
Mitigation Strategies
- Expansion of business model through strategic alliances.
- Advertising and promotion with bundles and packages.
- Cross-selling between healthcare services.
- Participation in baby fairs and expos.
- Review of strategy and planning to meet affordability of different markets.
- Maintaining good customer relationships.
- Upholding superior quality.
- Service differentiation by increasing value-added services.
- Establishing SOPs.
- Conducting trainings.
- Continuous engagement with regulatory authorities.
- Appointing confinement specialists and experienced registered nurses.
- Ongoing SOP trainings to employees.
- On-the-job training and supervision.
- Strict Quality Control.
- Rectifying breaches.
- Appealing and explaining to authorities.
- Conducting weekly Sales and Operations meetings.
- Annual review of staff competencies and skills adequacy.
- Formalising service level agreements with service providers.
- Regular internal audit reviews performed by Internal Auditors.
- Continuously updating on regulatory changes through training, seminars, and conferences.
- Proper food receiving, storing, cooking, preparing, and serving.
- Strict security control.
- Disciplinary action.
- Various insurance policies.
- Fire fighting equipment.
- Market intelligence.
- Studying customer behavior and demands.
Supply Chain Management
Responsible Procurement
- Product quality
- Fair payment terms
- Reasonable price
- Business continuity
Climate-Related Risks & Opportunities
Awards & Recognition
- Best Confinement Centre in Malaysia