Climate Change Data

MYCRON STEEL BERHAD

Climate Impact & Sustainability Data (2023)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Governance
  • Climate Change
  • Environment
  • People
  • Community

Environmental Achievements

  • MCRC obtained ISO 14001:2015 certification in June 2017.
  • MCRC awarded SIRIM Eco-Label Licence and granted rights to use MyHIJAU Mark on its products since February 2021.
  • MST obtained SIRIM Eco-Label Licence for all three manufacturing plants since August 2022 and MyHIJAU Mark since September 2022.

Social Achievements

  • Not disclosed

Governance Achievements

  • The Board of Directors focuses on upholding the highest standards of corporate governance and business ethics.
  • Governance model includes Board Charter, Terms of Reference of Board Committees, Anti-Fraud/Anti-Corruption Policy, Fit and Proper Policy, Communication Policy, Conflict of Interest Policy, and Corporate Disclosure Policies and Procedures.

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Not disclosed
Short-term Goals:
  • Not disclosed

Environmental Challenges

  • Weaker steel demand and downward pressure on global steel prices.
  • Chronic manpower shortages and disrupted supply chains.
  • High energy costs due to the Russian-Ukrainian conflict.
  • Falling steel prices faster than raw material costs, narrowing profit margins.
  • Increased dumping of CRC Steel imports into Malaysia.
  • Uncertainty surrounding the 15th General Elections.
  • Severe customer destocking in the second half of calendar year 2022.
  • Influx of import substitutions (mostly through questionable import-duty-skirting channels).
Mitigation Strategies
  • Inventory management: maximizing forward sales orders and cutting monthly raw material procurement.
  • Ceased utilization of USD-denominated credit facilities and relied solely on MYR-denominated credit facilities.
  • Timely foreign-exchange (FX) hedging operations to neutralize conversion risk.
  • Increased export revenue as a percentage of total revenue.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Not disclosed

Climate-Related Risks & Opportunities

Physical Risks
  • Not disclosed
Transition Risks
  • Not disclosed
Opportunities
  • Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: ISO 9001, ISO 14001:2015, SIRIM Eco-Label, MyHIJAU Mark, UK Factory Production Control Certification, EC Factory Production Control Certification, CE Marking, Perakuan Pematuhan Standard (Bahan Binaan), EMAL certification

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • Not disclosed