3 ANNUAL REPORT 2023 MST GOLF GROUP BERHAD The aim of this Report is to transparently deliver relevant and thorough information to our stakeholders of our achievements and challenges, facilitating their ability to make a fair assessment of our performance over both short and long-term periods. MST Golf’s AR 2023 also shares future-oriented information on our business objectives and focus areas, demonstrating how we generate sustainable value for our customers, employees, suppliers and communities. SCOPE AND BOUNDARY The scope of this Report covers all primary aspects of MST Golf’s operations, including our retail, wholesales, and other golfrelated business segments. It summarises key financial metrics, operational highlights and strategic developments. This Report also delves into our sustainability practices and community engagement efforts, reflecting our dedication to responsible business conduct. REPORTING SUITE For a comprehensive understanding of MST Golf’s ESG performance, stakeholders are encouraged to explore the accompanying Sustainability Statement on pages 30 to 105 in this Report to obtain a more comprehensive perspective on the Group's sustainability commitments. APPLIED FRAMEWORKS The Group adheres to the following reporting/governance frameworks and guidelines (applied in part or full) in the development of this Report: • Malaysian Code on Corporate Governance (“MCCG“) • Main Market Listing Requirements (“MMLR“) issued by Bursa Malaysia Securities • Companies Act 2016 (“CA 2016“) • International Financial Reporting Standards (“IFRS“) • Malaysian Financial Reporting Standards (“MFRS“) • Corporate Governance Guide – 4th Edition issued by Bursa Malaysia Securities FORWARD-LOOKING STATEMENTS This Report includes forward-looking statements reflecting our current outlook on the Company’s future performance. Keywords such as “might,“ “forecast,“ “anticipate,“ “project,“ “may,“ “believe,“ “predict,“ “expect,“ “continue,“ “will,“ “estimate,“ “target“ and similar expressions are utilised. These statements are based on various assumptions and are subject to numerous risks, uncertainties and contingencies beyond MST Golf’s control. More importantly, they are not to be construed as a guarantee to our operating performance or financial outcomes. Unexpected events and actual results may significantly differ from current expectations, impacted by factors such as emerging business opportunities, changes in Group priorities, global and national economic conditions, government policies and other considerations. FEEDBACK We welcome feedback, enquiries or suggestions on our business operations or on this Report. Stakeholders can reach out to us at investor.relations@mstgolf.com. MST Golf Group Berhad (“MST Golf“ or “the Group“) presents its Annual Report 2023 (“Report“ or “AR 2023“) for the financial year ended 31 December 2023 (“FYE2023“ or “FY2023“). This Report details the Group’s financial performance, strategic initiatives, operational advancements and Environmental, Social and Governance (ESG) commitments.
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