52 SECTION 04 : CORPORATE GOVERNANCE OPERATION MANAGEMENT & ASSET UTILISATION The resilience demonstrated in ENRA’s operations and the dedication of its personnel stand as critical elements as the Group tackles global challenges. The focused execution of the Group’s strategies and efforts to strengthen its core business has clearly propelled ENRA to new heights. Apart from maintaining stable operational management, the Group has responded to the uncertain global landscape with a disciplined approach towards cost optimisation and a commitment to sustainable business growth. This include placing a strong emphasis on advancing its sustainability journey. • MONITORING FOR SUSTAINABLE BUSINESS Efficient project management is a top priority for the Group, encompassing project inception, planning, execution, completion, and post-completion analysis, including lessons learned and the implementation of measures for future projects. The Group places a strong emphasis on the following principles: I. Cautious due diligence processes; II. Timely execution and adherence to allocated budgets; III. Implementation of contingency plans; IV. Adaptability to changes in market conditions that would require quick intervention or modification to the execution plan; V. Thorough progress monitoring, aligning with directives from the Board and Senior Management; and VI. Balancing progress with financial considerations. To facilitate effective project management, the Group utilises the following platforms: I. EXCO Activity The EXCO maintains consistent communication among its members, and middle to senior management have direct access to engage with the EXCO for support and decision-making. Various communication tools, such as Microsoft Teams, direct messaging, and conference calls, are routinely employed to ensure efficient interaction between the EXCO and Management. II. Group Management Committee This meeting is usually conducted on the Mondays of the first week of the month, focusing more on operational updates and business development strategies. Participants are the key management personnel of the Group including the EXCO. The participants will brainstorm practical solutions to support each other during this session. III. Monthly Performance Review The MPR meeting takes place once a month and is attended by the head of each subsidiary, who is accompanied by the subsidiary’s head of finance, and officers to key projects being undertaken. There is flexibility on the frequency of the meeting as the EXCO members are very hands on with the group operations. During the meeting, each subsidiary presents their operational performance results to the EXCO which includes review of the financial performance, achievements during the period and discussions on areas for improvement. Comparisons between actual against budgeted and previous year numbers are made and reviewed for the quarter and year-to-date. Any significant variance is highlighted and any remedial plans to achieve or outperform the budget would be discussed. Based on deliberation, a new projection for the balance of the financial year is made if needed and a full year forecast is prepared for notation by the Board. Sustainability Report (Cont’d)
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