OCCUPATIONAL HEALTH AND SAFETY (“OHS”) RISKS Excellent OHS performance is vital towards reducing disruption to progress of all operational sites, which can impact timely completion of projects. Prevention of OHS incidents is also important towards avoiding damages which can lead to financial loss, higher insurance premiums and loss of operational man days. Branding and reputation can also be affected as well as the ability to recruit site workers. OPPORTUNITIES Continued focus on OHS can lead to cost and operational efficiencies across the value chain. It contributes to improved morale among workers, which reduces attrition rates and also strengthens the Group’s reputation, particularly among regulatory stakeholders. Best practices applied can also be shared with industry peers through industry bodies towards elevating the collective standards of property and construction players. BUSINESS AND OPERATIONAL STRATEGIES Matrix adheres to set regulations and has developed a robust management approach, comprising policies, SOPs and effective monitoring of OSH matters to ensure good performance. Employees and workers participation in OSH matters is mandatory. BRANDING AND REPUTATION RISKS Matrix operates in highly competitive industries where customers have ample choice and price points. Hence, the significance of continued brand building towards distinguishing Matrix. Strong branding through focussed and targeted communication is essential as without which, customer awareness may dip leading to loss of customer interest. Branding strategies must also deliver a compelling return of investment (“ROI”), especially as marketing costs increase over time due to inflation and a higher expenditure to retain mindshare among customer segments. OPPORTUNITIES The need for branding also opens opportunities to rethink the overall marketing and branding mix. Technology such as AI and big data analytics enable a more focussed approach with improved measurement of ROI for investments made. In essence, combining technology with past experiences can support the development of more effective customer acquisition. Increasingly, the focus is not just on one-time sales, but in how to develop longer-lasting relationships which could lead to repeat purchases or higher referral rates. BUSINESS AND OPERATIONAL STRATEGIES Matrix’s sales performance serves as a good indicator of the prevailing strong brand trust and confidence among consumers. The Group shall look to conduct more independent, external surveys to better feel the consumers’ / stakeholders’ perspectives. MATTERS MATERIAL TO VALUE CREATION VALUE CREATION STRATEGIC REVIEW 87 INTEGRATED ANNUAL REPORT 2024
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