Environmental, social and governance (ESG)

Environmental, social and governance (ESG)


Malaysian Genomics Resource Centre Berhad (“MGRC” or “the Group”) is pleased to present the Group’s Sustainability Statement for FY2022 (“Statement”). The Group strives to identify and adhere to sustainability principles in various aspects of its business operations within the context of Economic, Environment and Social (“EES”) issues, whether locally or internationally, for the interest and benefit of all our stakeholders. This statement covers the sustainability strategies of MGRC’s business operations. It has been prepared based on all available internal information concerning Bursa Malaysia Securities Berhad’s ACE Market Listing Requirements and its Sustainability Reporting Guide.

Sustainability Governance
The Board of Directors (“BOD”) of MGRC is the ultimate authority over the Group’s sustainability strategy. The BOD reviews and approves all sustainability-related initiatives and policies to ensure that the Group pursues its regulatory and commercial objectives while at the same time being a responsible and sustainable organisation. Our Chief Executive Officer oversees sustainability practices and their applications across the Group’s business and operations, which aim to follow Bursa Malaysia’s ACE Market Sustainability Framework closely.

Sustainable Strategies
MGRC’s sustainable strategies are aligned with the United Nations (“UN”) 2030 Agenda for Sustainable Development, which promotes 17 Sustainable Development Goals (“SDGs”) to which all UN member states should adhere. These SDGs provide a blueprint for the global community to create and achieve a more sustainable future for all. MGRC’s sustainable strategies are organised according to the three EES sustainability pillars shown below:

Economic Environment Social
  • Business Expansion
  • Provide Work Opportunities
  • Collaborations to achieve Sustainable Businesses
  • Complying With Regulations and Standards
  • Data Privacy and Security
  • Responsible Waste Management
  • Carbon Footprint Reduction Efforts
  • Corporate Governance
  • Provide Internship Opportunities and Training
  • Diversity of Workforce
  • Employee Development and Management
  • Social Initiatives
  • Provide Accessibility to Healthcare Products and Services
  • Benefit Customers and Community
  • Health and Safety

Stakeholders Engagements

Stakeholders Areas of Interest / Material Matters Engagement Approaches
  • Business expansion and growth
  • Operation and financial performance
  • Corporate governance
  • Risk management and internal controls
  • Stakeholders’ interest
  • BOD Meeting
  • General Meeting
  • Profitability and return on investment
  • Sustainable performance
  • Operational improvements
  • Quarterly financial results
  • Annual report
  • Company website
  • Career opportunities
  • Compensation and job benefits
  • Continuous training and development
  • Performance appraisal
  • Internal meetings
  • Training and development
  • Engagement with management
  • Quality of products and services
  • On-time delivery
  • Customer service and satisfaction
  • Site visits for corporate customers
  • Company website
  • Feedback
  • Sustainable business relationship
  • Proper supplier selection and evaluation
  • Timely payments according to credit terms
  • Selection among at least three suppliers
  • Supplier performance evaluation
  • Face-to-face communications and emails
  • Corporate governance
  • Legal compliance
  • Audit
  • Bursa announcements
  • Obtaining relevant certifications
  • Employment creation
  • Support local economy
  • Contribution to community
  • Minimal environmental impact from operations
  • Company website
  • Social initiatives
  • Compliance with regulations and standards
  • Financial and operational performance
  • Share price performance
  • Business growth and expansion
  • Corporate governance
  • Quarterly financial results
  • Annual report
  • Company website
  • Bursa announcements
  • Analyst briefings and interview sessions

Out of the 17 UN SDGs, MGRC focuses on 12 SDGs below that are most relevant to our corporate values and sustainability strategies, which will be explained in later sections.