2 Press Metal Aluminium Holdings Berhad SECTION 1 • PRESS METAL AT A GLANCE The Integrated Annual Report (“IAR”) 2024 of Press Metal Aluminium Holdings Berhad (“PMAH” or “the Company”) and its subsidiaries (collectively referred to as “Press Metal” or “the Group”) represents an important milestone in our integrated reporting journey. This IAR 2024 reflects our dedication to transparency, accountability, and creating value for all stakeholders. IAR 2024 provides a comprehensive account of our financial and non-financial performance, detailing our operational achievements, governance practices, strategic priorities, sustainability initiatives and challenges, and future prospects. It has been prepared in alignment with the Guiding Principles and Content Elements of the Integrated Reporting (<IR>) Framework developed by the Value Reporting Foundation (“VRF”), ensuring adherence to global standards in corporate reporting. Through this report, we demonstrate how sustainability is integrated into our operations and how it strengthens our business resilience. Press Metal remains committed to generating long-term value for stakeholders while addressing the opportunities and challenges of an evolving global landscape. SCOPE AND BOUNDARIES IAR 2024 covers the reporting period from 1 January 2024 to 31 December 2024 (“FYE2024”), unless otherwise stated, encompassing disclosures of the Group’s activities, including those of its subsidiaries, joint operations, joint ventures, and associates, where applicable. We have adopted an integrated reporting approach to demonstrate our commitment to delivering value across short-, medium- and long-term. This approach reflects the interconnected nature of our financial and operational performance, stakeholder relationships, and sustainability objectives, focusing on the following key areas: • Business Performance: The IAR 2024 offers a holistic analysis of the financial and non-financial performance, along with valuable insights into our growth prospects (refer to pages 12 to 21 for further details). • Stakeholder Engagement: Meaningful stakeholder relationships are prioritised and their expectations are actively integrated into our business strategies (refer to pages 27 to 30 for further details). • Materiality: The identification and prioritisation of key material matters provides us with a holistic view of global trends, industry developments, and risks that could significantly impact the Group’s performance (refer to pages 31 to 32 for further details). • Key Capitals: The identification of inputs, outputs, and outcomes associated with each of the capitals in our business model, collectively contribute to value creation across the Group’s ecosystem, aligning with our strategic objectives (refer to pages 40 to 41 for further details). MATERIALITY Detailed disclosures on the assessment and determination of our material topics are provided in the Material Matters at Our Core section of the IAR 2024. The method for identifying material topics is detailed on page 31 of this IAR 2024. Our approach to materiality focuses on two (2) key criteria: • Topics deemed influential for financial value creation; and • Topics that are significant to our stakeholders and contribute to indirect value creation. REPORTING PHILOSOPHY & FRAMEWORK This IAR 2024 serves as our primary report communicated to our stakeholders. We have prepared the IAR 2024 in reference to the following frameworks, standards, and guidelines: Key Frameworks/ Standards/ Guidelines Applied IAR 2024 Sustainability Report 2024 (“SR 2024”) Corporate Governance Report 2024 (“CG Report 2024”) Financial Statements for FYE2024 Integrated Reporting <IR> Framework Main Market Listing Requirements (“MMLR”) of Bursa Malaysia Securities Berhad (“Bursa Securities”) Companies Act (“CA”) 2016 Malaysian Code of Corporate Governance (“MCCG”) 2021 Corporate Governance Guide (4th Edition) of Bursa Malaysia Berhad Bursa Malaysia Sustainability Reporting Guide (3rd edition) Global Reporting Initiative (“GRI”) Universal Standards 2021 United Nations Sustainable Development Goals (“UN SDGs”) FTSE4Good Bursa Malaysia Index’s Environmental, Social and Governance indicators National Sustainability Reporting Framework (“NSRF”) United Nations Global Compact’s (“UNGC”) Ten Principles Sustainability Accounting Standards Board (“SASB”) Sector-Specific Disclosures Aluminium Stewardship Initiative (“ASI”) Performance Standard Version 3 (“PS v3”) International Financial Reporting Standards (“IFRS”) Malaysian Financial Reporting Standards (“MFRS”) ABOUT THIS REPORT
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