3 ANNUAL REPORT 2024 MST GOLF GROUP BERHAD The aim of this Report is to transparently deliver transparent, relevant and comprehensive information to our stakeholders on the Group’s achievements and challenges, supporting an informed assessment of our performance in both the short and long term. MST Golf’s AR 2024 also includes forward-looking insights into our business priorities and strategies, highlighting how we create sustainable value for our stakeholders, including customers, employees, suppliers, shareholders, 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 golf-related business segments across our geographical footprint. It presents financial highlights, operational progress, strategic developments, and sustainability efforts, reflecting our ongoing commitment to responsible and ethical business practices. REPORTING SUITE For a comprehensive understanding of MST Golf’s ESG performance, stakeholders are encouraged to refer to the accompanying Sustainability Statement on pages 34 to 103 of this Report. The statement expands on our sustainability framework, strategy, initiatives and impact across the Group. APPLIED FRAMEWORKS In preparing this Report, 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 relating to the Group’s future outlook and business direction. Keywords or words 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 regarding this Report or any aspect of our business. Please reach out to us at investor.relations@mstgolf.com MST Golf Group Berhad (“MST Golf“ or “the Group“) presents its Annual Report 2024 (“Report“ or “AR 2024“) for the financial year ended 31 December 2024 (“FYE2024“ or “FY2024“). This Report outlines the Group’s financial and operational performance, strategic initiatives, and Environmental, Social and Governance (ESG) commitments.
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