Wing Tai : Sustainability Report 2023

Sustainability Report 2023

Wing Tai Holdings Limited

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Board Statement

About this	Corporate	Sustainability	Environmental	People	Market	Caring for the	Memberships,	GRI CONTENT
Report	Statement	Efforts	Responsibility	Matters	Responsibility	Community	External Initiatives	INDEX
							and Charters

Board

Statement

01. Board Statement

1. About this Report
2. Corporate Statement
3. Sustainability Efforts

1. Environmental Responsibility

1. People Matters

1. Market Responsibility

1. Caring for the Community
2. Memberships, External Initiatives and Charters
3. GRI Content Index

Wing Tai Holdings Limited (the Company) and its subsidiary companies (the Group) are pleased to issue our sixth annual Sustainability Report in line with the Singapore Exchange (SGX) guidelines on Sustainability Reporting.

Recognising the growing importance and impact of sustainability to Wing Tai's business, we enhanced our sustainability governance structure, and conducted

a materiality refreshment exercise to review and update our material Environmental, Social and Governance (ESG) topics which are most relevant and significant to the company and its stakeholders. This led to the addition of "Growth and Development" as a material topic, signalling the growing emphasis that Wing Tai places on our human capital assets.

As the Singapore built environment strides ahead with more decarbonising initiatives, Wing Tai is committed to supporting these efforts as a responsible real estate developer, owner and manager. We continue to integrate green features into our property developments where possible to reduce our environmental impact, while keeping in mind the well-being of our tenants and residents. Our upcoming development, The LakeGarden Residences, will push the boundaries of sustainable living,

with low-energy homes and solar panels to harness renewable energy. More efficient and environmentally friendly building methods will also be deployed to reduce waste and carbon footprint.

During the year, we continued to invest in the well-being and engagement of our employees to build a supportive work environment. Besides dedicated feedback channels for our employees to share their concerns, the Group also conducted its first group-wide Employee Engagement Survey to better understand the sentiments of our employees. Through the survey results, the Group introduced new corporate tie-ups and memberships, and organised lunchtime workshops and talks which were tailored to the interests of our employees. In addition, the Group remains committed to maximising our employees' potential and future-proofing their careers through training and development.

As a leading real estate developer and lifestyle retailer, Wing Tai is committed to the highest standards of business excellence and customer service. Recognising that digitalisation is crucial to keeping pace with the changing market trends and consumer needs, the Group continues to leverage digital

platforms to enhance our business operations. This includes leveraging digital tools and data-driven decision making to improve productivity in our retail store operations, as well as introducing new digital solutions to enhance homebuyers' experience, starting from the sales and marketing process to the handover of their new homes.

On the community front, with the easing of pandemic restrictions, the Group also organised our first Corporate Social Responsibility (CSR) activity involving engagement with beneficiaries. The Group will continue to uplift and contribute to the communities we operate in through meaningful ways.

As Wing Tai pushes ahead in this multi-faceted and ever-evolving sustainability landscape, the Board remains committed in providing oversight and guidance on the Group's ESG strategies and performance. We hope this report provides insight into our efforts to manage our ESG impact and to create a more sustainable future.

WING TAI HOLDINGS LIMITED SUSTAINABILITY REPORT 2023 01.

BOARD STATEMENT

About this	Corporate	Sustainability	Environmental	People	Market	Caring for the	Memberships,	GRI CONTENT
Report	Statement	Efforts	Responsibility	Matters	Responsibility	Community	External Initiatives	INDEX
							and Charters

About this Report

Reporting Scope

and Period

This report covers the sustainability performance of Wing Tai Holdings for the financial year ended 30 June 2023 (FY23). First published in 2018, the Sustainability Report is published annually in accordance with the SGX Listing Rules.

The scope of this report covers the Group's property and retail businesses1 in the key markets of Singapore (where Wing Tai Holdings is headquartered) as well as Malaysia which together contribute more than 95% to the Group's revenue2. The specific operations included in the scope of this report are as follows:

Commercial Property	In addition, the Group operates in
Directly Managed	The People's Republic of China, represented
		by its subsidiary company, Wing Tai China
Singapore	Pte. Ltd., and in Hong Kong, represented by
•	Winsland House I	the Group's associated company, Wing Tai
•	Winsland House II	Properties Limited, as well as in Australia
		and Japan through its investment arm.
		Our focus in these markets are property
Corporate Offices	investment and development and
		hospitality management.
Singapore
•	Winsland House I	Please refer to pages 119-122of the
•	KA Place	Company's annual report for the entire
•	7000AMK	list of entities (with the exception of
		inactive and dormant entities) included in
Malaysia	the consolidated financial statements.

• First Avenue

•	Le Nouvel KLCC3	The Group hopes to use this report to
•	Menara Boustead Penang	share its commitment to sustainability
•	Bukit Mertajam ISG Sales Gallery	with its valued stakeholders, who include
		shareholders, investors, customers,
		employees, business partners, suppliers
Residential Property	and contractors, government agencies and
Currently in Development	the communities in which we operate.

Singapore	Reporting Standard
•	The M at Middle Road
•	The LakeGarden Residences	This report has been prepared with
		reference to the Global Reporting Initiative
Malaysia	(GRI) Universal Standards 2021. The GRI
•	Garden Villas	standards have been adopted due to
	(Taman Jasa Ria)	their international recognition, global
		comparability and comprehensive metrics
		across ESG topics. The GRI standards provide
Retail	structure and performance direction to the
Directly Managed	Group's sustainability strategy. Additionally,
		this report includes references to the

Multiple retail outlets in

Singapore and Malaysia

United Nation's Sustainable Development Goals (SDGs). The UN SDGs have been employed by the Group to map our initiatives across international issues pertaining to sustainable development and are used to quantify our ESG impact.

Independent Assurance

The Company acknowledges that internal reviews and external assurance increase stakeholder confidence in the accuracy and reliability of the sustainability information disclosed. The Company has relied on internal checks over sustainability disclosures, in line with the existing internal review frameworks.

While the Company has not obtained external independent assurance for this reporting period, we will consider doing so in future as our sustainability reporting efforts mature. To enhance our reporting process and reliability of our data, the Company has engaged with its internal auditors to incorporate a review of the sustainability report as part of the risk-based internal audit plan.

Availability

This report is available on www.wingtaiasia.com. In line with our sustainability efforts, no physical copy of this report is printed.

Feedback

The Group welcomes any questions or feedback on this report and can be reached at https://www.wingtaiasia.com/contact-us

• Our hospitality business is not included in the reporting scope as it is managed by Lanson Place Hospitality Management Limited which is owned and controlled by Wing Tai Properties Limited.

• Please refer to Annual Report 2023, Pg 119.

• Offices of MY Central's project management, property management, leasing and marketing are housed in Le Nouvel KLCC.

WING TAI HOLDINGS LIMITED SUSTAINABILITY REPORT 2023 02.

Corporate Statement

BOARD	About this	Corporate	Sustainability	Environmental	People	Market	Caring for the	Memberships,	GRI CONTENT
STATEMENT	Report	Statement	Efforts	Responsibility	Matters	Responsibility	Community	External Initiatives	INDEX
								and Charters

At Wing Tai, we are defined by our corporate philosophy of fostering winning partnerships and providing enduring value and quality through our property and retail offerings. Guided by our core values of Integrity, Teamwork, Leadership, Passion and Continuous Improvement, we grow from strength to strength like the resilient Tembusu tree in our corporate logo, celebrating art and life in the pursuit of excellence.

Corporate

Philosophy

Achieve winning partnerships with business partners, customers and staff.

Maintain a strong track record of quality and an extensive portfolio of products.

Core Values

Integrity

Teamwork

Leadership

Passion

Continuous Improvement

WING TAI HOLDINGS LIMITED SUSTAINABILITY REPORT 2023 03.

BOARD	About this	Corporate
STATEMENT	Report	Statement

Sustainability	Environmental	People	Market	Caring for the	Memberships,	GRI CONTENT
Efforts	Responsibility	Matters	Responsibility	Community	External Initiatives	INDEX
					and Charters

Sustainability Efforts

Sustainability Governance

The Board provides strategic oversight and guidance on Wing Tai's sustainability efforts. With increased stakeholders' awareness on sustainability disclosures and greater investor emphasis on ESG issues, the Board understands that a sound sustainability framework

is important to our success. It remains committed to navigate the evolving sustainability landscape to deliver long-term value and growth to our stakeholders. All Board of Directors have completed the mandatory sustainability training to equip themselves with the relevant knowledge on sustainability issues.

The Board works closely with the Sustainability Committee to ensure that the Company is on track in our sustainability journey. Led by the Executive Director and supported by the Chief Sustainability Champion, the Sustainability Committee oversees all sustainability initiatives for the Group, using the SGX sustainability reporting guidelines to assist in their course of action. The Sustainability Committee comprises Functional Champions in key departments including human resources, project management, facilities management, property management, property marketing and retail who guide and consolidate all sustainability-related information. The Sustainability Committee then reports to the Board, which monitors and advises on progress and strategy.

Board of Directors

Sustainability Committee Chairperson

Chief Sustainability Champion

Secretariat

Group Corporate Communications

Singapore

Malaysia

Functional Champion		Functional Champion		Functional Champion		Functional Champion		Functional Champion		Functional Champion
Human		Project		Facilities		Property		Property		Retail
Resources		Management		Management		Management		Marketing

WING TAI HOLDINGS LIMITED SUSTAINABILITY REPORT 2023 04.