SUSTAINABILITY
REPORT
MISSION STATEMENT
At The Straits Trading Company Limited (“Straits Trading”
or “the Group”), we believe that a sustainable business is
dependent on economic vitality, social equity and a healthy
environment. We do not see these goals as mutually
exclusive, but inextricably linked. As business leaders, we are
committed to developing sustainable business practices that
meet the needs of the present without compromising the
welfare of future generations.
PEOPLE
At Straits Trading, we believe in cultivating an inclusive
workplace with a strong emphasis on staff engagement,
talent development, career advancement and skills training,
while caring for the physical and emotional well-being of our
employees. We aim to continuously fine-tune our people
management practices to ensure the long-term success
and well-being of our staff and businesses.
Developing People
Employees are encouraged to attend relevant training courses
to improve themselves. Yearly budgets are provided for
training and development programmes.
All employees have to complete their individual development
plan at the beginning of each year, to review gaps in their
skillsets with their relevant superiors as well as their training
and development needs. Relevant and suitable courses
will be sourced for employees.
Discussions are held between managers and employees
to define long-term objectives and employees are given
assignments and skill-building opportunities to expand their
scope and achieve their long-term goals. We groom our
employees so that they can grow with the Group and
be promoted to take on bigger roles and assume
greater responsibilities.
Rewarding Performance
Straits Trading adopts a performance-based culture that
aligns business priorities, performance improvement and
employee development with competitive fixed and variable
remuneration. All employees are given annual performance
appraisals and their performance is reviewed on a
one-on-one basis with their superiors. Performance bonuses
are awarded for individual performance and contributions.
We also conduct regular benchmarking exercises to provide
competitive remuneration packages and benefits.
Engaging Employees
Employees are kept informed of the latest news, policies, and
happenings via internal emails, intranet and townhall meetings.
A Group-wide intranet platform has been established for
employee communication and for employees to access human
resource policies, forms, and templates and to share news and
information. It is also a platform for all employees to participate
in polls and surveys and also a forum to share their thoughts
and provide feedback. Townhall meetings are organised for
the senior management to meet up with all employees and to
share the Group’s directions, plans and achievements. Quarterly
bonding sessions are also organised on a departmental basis.
CORPORATE GOVERNANCE
Straits Trading is committed to maintaining high standards
of corporate governance, fostering a culture of ethics and
compliance throughout the organisation and adhering to local
laws and regulations in the jurisdictions where we operate. The
Group continually seeks to uphold a high standard of corporate
governance, which is essential to sustaining the Group’s businesses.
More information on the corporate governance practices
adopted by the Group can be found in the Report on Corporate
Governance on pages 34 to 41 of this Annual Report.
INVESTOR RELATIONS
Straits Trading is committed to maintaining active engagement
with its stakeholders. Guided by robust corporate governance
and transparency practices, Straits Trading strives to foster good,
long-term relationships with shareholders, investors, analysts
and the media through regular and consistent communication.
Disclosures on material corporate developments are made on
an immediate basis as required under SGX guidelines, or as soon
as possible where immediate disclosure is not practicable. The
Group’s corporate website is regularly kept up to date so that
accurate and timely information on Straits Trading’s financial
performance and key announcements can be accessed
by stakeholders.
CORPORATE SOCIAL RESPONSIBILITY
At Straits Trading, we view corporate social responsibility (“CSR”)
as a vital part of corporate life. We feel it is important to give back
to the community and contribute to positive and sustainable
change. Towards this end, we support projects and causes
that are sustainable, with definable social outcomes. We also
participate in activities that facilitate active engagement and
interaction and which deliver a rich and meaningful experience
to our volunteers and beneficiaries alike.
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THE STRAITS TRADING COMPANY LIMITED
