Our Approach Our supply chain strategy is guided by the Group9s procurement policy, which aligns itself with core principles such as compliance, equality, the prohibition of forced and child labour, and minimising environmental impact. To mitigate risks from unforeseen disruptions in our supply chain, we also adopt a proactive approach by working with multiple sources and service providers. This is included in our procurement policy, with the necessary Standard Operating Procedures (<SOP=) practices that strengthen our supply chain9s resilience and reduce vulnerabilities associated with the availability of critical materials. These principles also guide our supply chain practice: our Fair selection and Continuous Assessment process, which is based on ISO 9001 Elements 8.4. This process is detailed in the table below: Process Description Sourcing • Product sourcing via the Approved Suppliers List (<ASL=) • If products are unavailable on the ASL, the Group will move to the Survey process Survey • Open market research for alternatives is conducted • Upon the identiûcation of suitable vendors, the new vendors will be required to complete the Vendor Survey Form (<VSF=) - Considers factors such as product quality, frequency of end-user complaints, pricing consistency, and overall service performance Selection • Shortlisted vendors are surveyed and selected based on ûnancial security, labour costs, track record, product pricing and quality • Pre-qualiûcation, contracting, communication/awareness, audits/review and performance evaluation are performed • Vendors are to comply with all relevant social, environmental and labour laws. - As per the Group9s procurement policy, environmental and social compliance is enforced by contractors9 contracts following national and local governing laws Continuous Assessment • Revaluations are carried out on an annual basis/before the renewal of contracts, with a target of all our active key vendors being assessed • Suppliers are periodically assessed for their performance and compliance based on the criteria outlined in the Group9s SOP • Clear and transparent practices between the Group and our contractors are adopted - To promote eûcient contract management that facilitates a beneûcial working relationship In the event that a contracted supplier fails to meet the performance benchmark set by the Group, the following consequence is applied: • Probation Supplier 3 Suspended from tender participation for a speciûed period • Not Acceptable Supplier 3 Removal from Approved Suppliers List (<ASL=) list Contractor Management Contractors are a signiûcant aspect of our supply chain and in ensuring business continuity and meeting our operational requirements. While each project may diûer in scope and scale, the construction phase operates as a uniform system that demands multi-stakeholder management and sound governance. To ensure eûciency and compliance with regulatory requirements throughout our construction phase, we are supported by our Quality Assurance (<QA=) team and Vacant Possession (<VP=) team at each project site. Similarly to our Fair selection and Continuous Assessment process, the consultants and contractors we engage with are rigorously assessed for their experiences, resources and ability to meet delivery expectations. To maintain our track record as a reputable developer, our contractors are evaluated periodically for their performance and compliance with 112 ANNUAL REPORT 2024
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