Climate Change Data

Environmental Metrics

ESG Focus Areas

• Economic Performance
• Managing Medical Waste
• Occupational Health & Safety
• Quality of Care & Customer Health & Safety
• Customer Privacy
• Compliance with Laws & Regulations

Environmental Achievements

• Zero incidents of non-compliance with relevant laws and regulations from MOH and NEA regarding medical waste management.

Social Achievements

• No workplace fatalities or injuries.
• Zero known cases of identified leaks, thefts, or losses of customer data.

Governance Achievements

• Zero confirmed incidents of corruption.
• Zero incidents of non-compliance with relevant laws and regulations.

Climate Goals & Targets

Environmental Challenges

• Fragmented and highly regulated healthcare industry in Asia.

Mitigation Strategies

• EBITDA-focused expansion strategy ensuring each acquisition is immediately accretive to financial performance.
• Public-Private-Partnership Model to scale healthcare services in Indonesia.
• Adaptive pricing strategies to increase adoption of esoteric tests.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards

Environmental Metrics

ESG Focus Areas

• Economic Performance
• Managing Medical Waste
• Occupational Health and Safety
• Quality of Care and Customer Health and Safety
• Customer Privacy
• Compliance with Laws and Regulations
• Community Engagement

Environmental Achievements

• Zero incidents of non-compliance with medical waste management regulations from NEA in FY2020.

Social Achievements

• No work-related injuries or fatalities in FY2020.
• Zero known cases of identified leaks, thefts, or losses of customer data in FY2020.
• Zero known complaints concerning breaches of customer privacy in FY2020.

Governance Achievements

• Zero confirmed incidents of corruption in FY2020.
• Zero incidents of non-compliance with environmental and socioeconomic laws and regulations in FY2020.

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic temporarily halted non-essential medical care.
• COVID-19 pandemic disrupted global supply chains of raw materials and medical supplies.

Mitigation Strategies

• Secured temporary bridging loan facilities for working capital.
• Secured distributorship for COVID-19 antibody test kits and started sales of medical supplies.
• Provided COVID-19 testing related services in the Philippines.

Supply Chain Management

Responsible Procurement

• Engaging a licensed waste disposal company for biohazardous waste.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards

Environmental Metrics

ESG Focus Areas

• Upholding Good Governance and Ethics
• Providing Quality Healthcare
• Developing Our Human Capital
• Preparing for Climate Change Resiliency
• Protecting our Environment

Environmental Achievements

• Replaced 90% of lighting in the Philippines medical center to LED lights

Social Achievements

• Partnered with the Philippines Department of Social Welfare and Development and the GMA Kapuso Foundation to extend medical services to less fortunate Filipinos
• Provided full-time employees with healthcare claims such as dental and medical claims in Singapore and free healthcare consultation with our appointed Family Medicine Doctor and Healthcare Medical Organisation for our employees in the Philippines.

Governance Achievements

• All Directors attended mandatory sustainability training.
• No incidents of non-compliance with social and economic laws and regulations in FY2022.
• No reported incidents of corruption in FY2022.

Climate Goals & Targets

Environmental Challenges

• Increase in cost of energy consumption due to potential carbon tax increases.
• Increase in cost of medical waste disposal due to stricter regulations.
• Need to replace existing medical equipment with more energy-efficient options.
• Worsening weather conditions resulting in disruptions of operations.
• Potential impact of climate change on the population and healthcare needs.

Mitigation Strategies

• Exploring energy-efficient lighting and renewable energy sources.
• Engaging licensed waste disposal contractors.
• Regular review of medical equipment and procurement of energy-efficient equipment.
• Storing medical equipment at higher levels, erecting flood barriers, and implementing a checklist for employees to prepare for potential flooding events.
• Considering the feasibility of expanding medical expertise to help climate-vulnerable populations.

Supply Chain Management

Responsible Procurement

• Supplier quality assurance
• Engaging suppliers on product safety and certifications
• Procuring from licensed and reputable pharmaceutical suppliers.

Climate-Related Risks & Opportunities

Physical Risks

• Worsening weather conditions resulting in disruptions of operations.

Transition Risks

• Introduction or increase of carbon tax.
• Stricter regulations on medical waste treatment.
• Need for more energy-efficient medical equipment.

Opportunities

• Utilise solar energy to reduce energy consumption.
• Meeting healthcare needs of climate-vulnerable populations.

Reporting Standards

Frameworks Used: GRI 2021 Standards, TCFD Recommendations, UN SDGs

Certifications: ISO 9001:2015

UN Sustainable Development Goals

• Goal 3: Good Health and Well-being
• Goal 8: Decent Work and Economic Growth
• Goal 13: Climate Action

Contributions through daily operations, strategy development, and stakeholder collaboration.

Awards & Recognition

• Golden Globe Annual Awards for Business Excellence 2022

Environmental Metrics

ESG Focus Areas

• Upholding Good Governance and Ethics
• Providing Quality Healthcare
• Developing Our Human Capital
• Preparing for Climate Change Resiliency
• Protecting our Environment

Environmental Achievements

• Energy consumption reduced as compared to the previous year due to a collective effort across the Group to conserve energy.

Social Achievements

• Partnered with GMA Kapuso Foundation Inc. to extend free medical consultations and laboratory tests to local partners.

Governance Achievements

• No incidents of non-compliance with social and economic laws and regulations in FY2023.
• No confirmed incidents of corruption in our operations across various jurisdictions in FY2023.
• No substantiated complaints concerning breaches of customer privacy and losses of customer data due to our mismanagement in FY2023.
• No reported incidents of discrimination at our workplace in FY2023.
• No reported incidents of non-compliance regarding product health and safety, as well as product information and labelling in FY2023.

Climate Goals & Targets

Environmental Challenges

• High inflation, coupled with slow growth and its impact on consumer spending, which may in turn impact the consumption of the products and services the Group provides.
• Inflation may raise the cost of goods for the Group and negatively impact the Group’s profit margins.
• Decreased revenue from the distribution of Labnovation’s COVID-19 ART Test Kits in Hong Kong and Philippines and a decrease in revenue from the medical clinics/centres in Singapore and Philippines for the provision of general medical, dental and clinical services and distribution of medical and pharmaceutical products.
• Impairment losses arising from a reduction in the estimated recoverable value of the Group’s goodwill from previously acquired assets due to the decrease in the financial performance of the medical clinics/centres segment.
• Allowance for expected credit losses mainly arising from a reduction in the entire recoverable value of the receivables owing by SAM Laboratory Pte. Ltd. and Clearbridge Medical Asia Pte. Ltd.

Mitigation Strategies

• Continue to monitor this development and will adapt our strategies accordingly.
• Proactively evaluate our options and opportunities to preserve value for the Group and if need be, undertake certain corporate exercises to restructure its businesses and operations to achieve sustainability and to better position the Group for the future.
• Expand channels to its product offerings through traditional and digital initiatives, such as through resellers and third-party e-commerce platforms and continues to explore opportunities to enhance its product offering scale and scope, especially in the area of consumer healthcare, relating to chronic diseases.
• Exploring the usage of more energy-efficient lighting within the premises and to consider energy efficient premises such as green mark certified buildings for future possible site relocations.
• Considering purchasing energy from renewable sources as and when they become available.
• Engaging licensed waste disposal contractors for waste disposal service.
• Implementing waste management policies to comply with the local regulations.
• Conducting regular review of the medical equipment and procure newer and energy efficient equipment, taking into consideration the availability and cost of the equipment.
• Ensuring that medical equipment is stored at higher levels to ensure that the machines are not affected by flooding.
• Erecting flood barriers to prevent flooding of the medical facility.
• Implementing a checklist for employees to ensure the medical facility is well-prepared to mitigate potential flooding events.
• Monitoring and complying with weather directives.

Supply Chain Management

Responsible Procurement

• Engaging and evaluating suppliers on product safety and certifications
• Procuring from licensed and reputational pharmaceutical suppliers
• Evaluating suppliers on a regular basis to ensure they comply and meet regulatory health standards

Climate-Related Risks & Opportunities

Physical Risks

• Worsening weather conditions resulting in more frequent and more severe disruptions of operations in the Philippines

Transition Risks

• Introduction or increase of carbon tax
• Treatment of medical waste becoming increasingly stringent
• Availability of medical equipment that uses less energy

Opportunities

• Utilise solar energy to reduce traditional energy consumption
• Utilising expertise to help climate-vulnerable population meet their healthcare needs

Reporting Standards

Frameworks Used: GRI 2021 Standards, TCFD Recommendations, UN SDGs

Certifications: ISO 9001:2015

UN Sustainable Development Goals

• 3
• 8
• 9
• 13

Contributions through daily operations, strategy development, and stakeholder collaboration.

Awards & Recognition

• Golden Globe Annual Awards for Business Excellence 2023