INTEGRATED ANNUAL REPORT 2022 DRIVING TECHNOLOGY, ADVANCING SUSTAINABILITY CREATING A BETTER TOMORROW Edgenta of the Future 2025
Overview of UEM Edgenta 4 Embedding Sustainability into Our Business 6 2022 Key Highlights 10 Awards and Recognitions 13 Our Presence 14 Our Corporate Structure 16 What We Do - Healthcare Support 18 - Property & Facility Solutions 19 - Infrastructure Services 20 - Asset Consultancy 21 What Differentiates Us: Our Strengths 22 2022 Key Significant Events 24 Edgenta Digital Ecosystem Platform 26 OVERVIEW OF UEM EDGENTA BERHAD Corporate Governance Overview Statement 214 Audit Committee Report 234 Statement on Risk Management and Internal Control 237 Corporate Integrity and Ethical Business Conduct 246 Additional Compliance Information 248 GOVERNANCE Directors’ Responsibility Statement 250 Directors’ Report 251 Statement by Directors 257 Statutory Declaration 257 Independent Auditors’ Report 258 Statements of Comprehensive Income 264 Statements of Financial Position 266 Statements of Changes in Equity 269 Statements of Cash Flows 271 Notes to the Financial Statements 273 FINANCIAL STATEMENTS Analysis of Shareholdings 384 Properties Held by Our Group 387 Recurrent Related Party Transactions 388 GRI Content Index 399 FTSE4Good Content Index 405 Glossary 427 Notice of the 60th Annual General Meeting 432 Statement Accompanying Notice of 60th Annual General Meeting 436 – Form of Proxy – Group Directory SHAREHOLDERS’ INFORMATION Chairman’s Statement 31 Managing Director/ Chief Executive Officer’s Statement 36 Chief Financial Officer’s Review 42 KEY MESSAGES Our Approach to Value Creation 50 Key Capitals 52 Value Creation Business Model 54 Stakeholder Engagement 56 VALUE CREATION Our Operating Environment and Market Trends 64 Our Material Matters 70 Risks and Mitigation 72 Edgenta of the Future 2025 (EoTF2025) 76 5-Year Group Financial Summary 78 5-Year Group Financial Highlights 79 Simplified Statements of Financial Position 80 Segmental Analysis 81 Value Added Statement and Value Distribution 82 Group Quarterly Performance 83 Financial Calendar 84 Investor Relations 85 Business Review - Healthcare Support 90 - Property & Facility Solutions 94 - Infrastructure Services 96 - Asset Consultancy 98 MANAGEMENT DISCUSSION AND ANALYSIS Sustainability at UEM Edgenta 102 - Sustainability Highlights and Achievements 104 - Message from the Managing Director/ Chief Executive Officer 106 - About This Report 110 - Sustainability Governance 110 - Our Sustainability Roadmap 113 - Stakeholder Engagement 116 - Materiality Assessment 116 - Business Ethics 117 Sustainable Economic Growth 118 Minimising Environment Impact 130 Social Value Creation 148 SUSTAINABILITY STATEMENT Corporate Information 189 Board of Directors 190 Board of Director’s Profile 192 Company Secretary’s Profile 201 Executive Leadership 202 Executive Leadership’s Profile 204 Organisation Structure 210 LEADERSHIP ABOUT THIS REPORT INSIDE THIS REPORT UEM EDGENTA IS PLEASED TO PRESENT OUR 2022 INTEGRATED ANNUAL REPORT, THE PRINCIPAL COMMUNICATION TO OUR STAKEHOLDERS. DRIVING TECHNOLOGY, ADVANCING SUSTAINABILITY The cover of our 2022 Annual Report illustrates our strategic evolution towards becoming a Technology-Enabled Solutions Company, propelling technological innovations and sustainability advancements in our products and services and through market expansion. Guided by our Economic, Environmental, Social and Governance (“EESG”) initiatives, we will continue to accelerate digital and technology transformation while prioritising sustainability as a core consideration across our organisation. As the region’s market leader in asset management and infrastructure solutions, we are committed to expanding our operations internationally and enhancing the lives of the communities we operate in. Always upholding our FIRST values (please refer to Page 4 of our report), we strive to deliver and meet the highest standards of quality for all our stakeholders and in every aspect of conducting our business.
ABOUT THIS REPORT ABOUT THIS REPORT SCOPE AND BOUNDARIES This Annual Report 2022 (“report”) covers the reporting period from 1 January 2022 to 31 December 2022 (“FY2022”), unless otherwise stated. The information presented relates to the activities of UEM Edgenta Berhad (otherwise referred to as “UEM Edgenta”, “the Group” or “the Company”), comprising our subsidiaries, joint operations, joint ventures and associates. The Sustainability Statement 2022 (“statement”) contained within this report is the sixth that we have published on our continuing sustainability reporting journey. The statement communicates our key sustainability initiatives, commitments and performance in relation to sustainability material matters that we have prioritised for the year under review. The statement covers our operations in Malaysia and other geographical regions we operate in, namely Singapore, Taiwan, Indonesia, the United Arab Emirates (“UAE”) and the Kingdom of Saudi Arabia (“KSA”). The reporting period of the statement is aligned with that of the report. REPORTING BASED ON ESTABLISHED PRINCIPLES, FRAMEWORKS AND GUIDELINES At UEM Edgenta, we strive to advance technology-based solutions with an emphasis on sustainability. Through technology, we enable our employees to work more productively, unlock cost savings and establish vital new revenue streams. REPORTING GUIDELINES AND FRAMEWORKS In presenting this report, we are confident that it showcases a fair and balanced representation of our performance during FY2022. Taking guidance from internationally recognised integrated reporting frameworks, as detailed below, this report addresses all our material matters and provides an accurate reflection of our strategic commitments for the short, medium and long-term. Corporate Section Companies Act 2016 B ursa Malaysia Securities Berhad’s Main Market Listing Requirements Malaysian Code on Corporate Governance Bursa Malaysia’s Corporate Governance Guide (4th edition) Bursa Malaysia’s MD&A Disclosure Guide Bursa Malaysia’s Sustainability Reporting Guide (3rd edition) I nternational Integrated Reporting Framework (“<IR> Framework”) The Global Reporting Initiative (“GRI”) Standards T he United Nations’ Sustainable Development Goals (“UN SDGs”) Financial Section B ursa Malaysia Securities Berhad’s Main Market Listing Requirements M alaysian Financial Reporting Standards (“MFRS”) I nternational Financial Reporting Standards (“IFRS”) Requirements of the Companies Act 2016 in Malaysia The credibility of this report is supported by strong governance practices and external verification by Ernst & Young PLT, our auditors for financial information. Moving forward, we have oriented our expansion to meet global requirements - inventing, adapting and enhancing better asset management and infrastructure solutions for our clients. While our business methods have been intended to provide long-term profits for our shareholders, our responsibilities encompass a much broader scope. FORWARD-LOOKING STATEMENTS This report contains certain forward-looking statements relating to the future performance of the Group. These statements and forecasts are based on current assumptions and circumstances, which could change; hence, they involve uncertainty. Various factors could cause actual results to differ materially from those expressed or implied by these forward-looking statements. ONLINE VERSION This report and additional information on UEM Edgenta can be found on our corporate website: www.uemedgenta.com FEEDBACK We look forward to receiving and responding to any feedback pertaining to this report. Feedback or queries may be directed to: Head, Corporate Communications Level 16, Menara UEM Tower 1, Avenue 7 The Horizon, Bangsar South City No. 8, Jalan Kerinchi 59200 Kuala Lumpur Tel : +603 2725 6688 Fax : +603 2711 8057 E-mail : communications@edgenta.com OUR TARGETED READERS This report serves as our primary means of providing information about our business and operations to our shareholders and potential investors. It further provides pertinent information on how we add value for other important stakeholders, such as our clients, employees, regulators and the communities we work closely with. NAVIGATING OUR REPORT We have aimed to produce a report that is interactive, engaging and easy to understand. To help readers navigate this report, we have adopted the following navigational icons that highlight our reporting of the six capitals of value creation as described in the <IR> Framework, as well as the material matters that impact our value creation process: Financial Capital Manufactured Capital Social and Relationship Resource Capital Natural Capital Human Capital Intellectual Capital Supply Chain Management Environmental Management Human Rights Assessment Economic Development Employment Culture Climate Change and Energy Customer Satisfaction Occupational Health and Safety Local Community Business Ethics Innovation and Technology-based Operational Excellence CAPITALS STAKEHOLDERS RISKS AND MITIGATION MATERIAL MATTERS UN SDGs Our Group’s sustainability efforts are aligned to the following UN SDGs, which were adopted and have been adhered to since FY2021. M1 M5 M2 M6 M3 M7 M4 M8 M11 M10 M9 Board of Directors and Employees S1 Government and Regulators, Industry and Business Associates S4 S2 Clients and Partners S5 Media S7 Community S3 Shareholders and Investors S6 Supply Chain Partners Strategic Risk R1 Compliance Risk R4 Operational Risk R2 People Risk R5 Financial Risk R3 Cybersecurity Risk R6 ESG Risk R7
Overview of UEM Edgenta 4 Embedding Sustainability into Our Business 6 2022 Key Highlights 10 Awards and Recognitions 13 Our Presence 14 Our Corporate Structure 16 What We Do - Healthcare Support 18 - Property & Facility Solutions 19 - Infrastructure Services 20 - Asset Consultancy 21 What Differentiates Us: Our Strengths 22 2022 Key Significant Events 24 Edgenta Digital Ecosystem Platform 26 OVERVIEW OF UEM EDGENTA BERHAD
p.5 1 2 3 4 5 6 7 8 9 OVERVIEW OF UEM EDGENTA BERHAD p.4 UEM EDGENTA BERHAD INTEGRATED ANNUAL REPORT 2022 OVERVIEW OF UEM EDGENTA OVERVIEW OF UEM EDGENTA WHO WE ARE UEM Edgenta is the region’s leading Asset Management and Infrastructure Solutions company, with a clear vision to Optimise Assets and Improve Lives. We are listed on Bursa Malaysia (KLSE: EDGENTA). We promise the Edgenta Way of delivering quality services to our clients by going beyond standards and offering technology-based solutions as a promise of efficiency, anchored upon a mindset to ensure safety across our operations for the benefit of all our stakeholders. Our expertise covers Healthcare Support and Property & Facility Solutions within our Asset Management segment, and Infrastructure Services and Asset Consultancy within our Infrastructure Solutions segment. We employ state-of-the-art technology to develop pioneering and cutting-edge solutions, while remaining dedicated to promoting ESG principles through our sustainability solutions. We offer our clients a full suite of services throughout their asset lifecycle, which includes consultancy, procurement and construction planning, operations and maintenance, as well as optimisation, rehabilitation and upgrades. We are currently present in Malaysia, Singapore, Taiwan, Indonesia, the UAE and KSA. VISION OPTIMISING ASSETS TO IMPROVE LIVES Our services, commitment to smarter thinking and improved solutions place us at the forefront of the industry We create opportunities for clients and assets that positively influence society CORE VALUES we prepare for tomorrow’s challenges, today we imagine new ways to deliver better work we treat our colleagues & stakeholders with respect we solve challenges to deliver results we are guided by integrity to build trust MISSION We stand by our FIRST core values, which is the Edgenta Way of expressing our beliefs and principles. FIRST is our guiding philosophy in everything that we do, especially with internal and external clients as well as stakeholders. It defines our organisation’s personality, dedication and culture. REVENUE BILLION* RM2.5 SHAREHOLDERS’ FUNDS BILLION* RM1.6 6 COUNTRIES Malaysia, Singapore, Taiwan, Indonesia, the United Arab Emirates and the Kingdom of Saudi Arabia RM2.9BILLION* TOTAL ASSETS *As at 31 December 2022 and for the financial year then ended.
EMBEDDING SUSTAINABILITY INTO OUR BUSINESS As a global organisation, we have a responsibility to operate in ways that maximise shared value for our nation, communities, people and the planet. In this regard, we define sustainability as managing and operating a responsible business while securing profits and driving longterm value creation, striving to meet the needs of the present without compromising the ability of future generations to meet their own needs. We are delivering on this imperative by integrating sustainability into our strategies and processes while developing technology-based solutions that drive the Environmental, Social and Governance (“ESG”) performance of asset owners, thereby maximising positive impact across our value chain. In FY2022, we embarked on the next phase of our sustainability journey with the launch of our sustainability roadmap. Covering the period of FY2022 to FY2024, the roadmap defines tangible goals across six pillars of action, with the overarching objectives of shaping our sustainability journey and propelling us to join the ranks of industry leaders in sustainability. The roadmap was developed through a comprehensive and holistic approach that included the gathering of insights from our stakeholders, enabling us to align our actions with our sustainability goals and objectives. Following the inauguration of our sustainability roadmap, the Strategic Business and Market Development (“SBMD”) and the Health, Safety, Security and Environment (“HSSE”) unit hosted our first ESG Awareness Month 2022 at the UEM Edgenta Learning Centre (“UELC”). The event was participated in physically and virtually by more than 400 Edgenta Stars, including members of our senior management team, celebrating the unveiling of our sustainability roadmap. The event kick-started with opening remarks by Rais Imran, our Chief Strategy Officer, stressing on the importance of cultivating ESG awareness and practices within the organisation. This led the way for Syahrunizam Samsudin, our MD/CEO, who delivered a keynote speech on how the group can leverage on being, thinking, and acting sustainably to drive long-term value. At UEM Edgenta, we view sustainability as an essential component of our operations and a key differentiator of the solutions we provide our customers. The event was attended by practitioners and industry experts who contributed to a panel discussion on the topic, “Sustainable Value Creation: ESG as value Driver as opposed to Cost Center”. This was followed by the official launch of the roadmap by Syahrunizam Samsudin. Sharifah Bakar Ali, Head of SBMD, and Andrew Raj, Head of Operational Excellence & Health, Safety, Security and Environment (“OE & HSSE”), who presented the key components of the Sustainability Roadmap, including the timeline and major milestones to be achieved by 2024. During the event, key members of our business units also shared inspiring notes on their ongoing ESG initiatives along with their future plans to embed sustainability within their daily operations. This session participated in by Opus Consultants, Infrastructure Services, Healthcare Support and Property & Facility Solutions teams, showcasing a display of various innovative ESG elements being integrated within their respective business activities. In summary, the sharing sessions further solidified our belief and commitment to champion sustainability within our diverse industries. THE LAUNCH OF OUR SUSTAINABILITY ROADMAP WAS PARTICIPATED IN PHYSICALLY AND VIRTUALLY BY MORE THAN 400 EDGENTA STARS, INCLUDING MEMBERS OF OUR SENIOR MANAGEMENT TEAM p.6 p.7 UEM EDGENTA BERHAD INTEGRATED ANNUAL REPORT 2022 1 2 3 4 5 6 7 8 9 OVERVIEW OF UEM EDGENTA BERHAD
p.9 1 2 3 4 5 6 7 8 9 OVERVIEW OF UEM EDGENTA BERHAD p.8 UEM EDGENTA BERHAD INTEGRATED ANNUAL REPORT 2022 SUSTAINABILITY PERFORMANCE IN FY2022 In FY2022, our FTSE4Good rating improved from 2.5 to 3.1. With this improvement, we may potentially now meet the required rating to be included in the index for emerging market companies (subject to us meeting FTSE4Good’s other criteria for inclusion). The improved rating was as a result of enhancements across our sustainability agenda, including to environmental, health and safety as well as governance-related data disclosure and practices. It signifies our deep commitment to leave a positive impact on the environment, provide safe and healthy work environments for our staff and clients - who are beneficiaries of our services - and ensure that we act in the best interests of our stakeholders. Moving forward, to maintain and improve on our ratings, we will seek to find ways to better manage our climate footprint, enhance our labour standards and practices, and work more collaboratively with our suppliers to ensure that we continue to carry out our business in a responsible manner. We will also continue to work with partners who share our sustainability aspirations. Other highlights of our sustainability performance during the past year include: KEY INITIATIVES IN FY2022 To drive alignment and action towards achieving the goals of our roadmap, sustainability-based Key Performance Indicators (“KPIs”) have been included within our corporate scorecard. Detailed action plans have been developed for immediate focus areas identified through our materiality matrix, including Human Rights Assessment, Supply Chain Management, Climate Change and Energy, and Environmental Management. Focus groups, sustainability champions and working group members have been appointed to carry out engagements within these areas and across the roadmap as a whole. Further to this, five priority initiatives were identified for FY2022, with key actions taken across each detailed below: EMBEDDING SUSTAINABILITY INTO OUR BUSINESS Sustainable Economic Growth Minimising Environmental Impact Social Value Creation A chieved 99.4% of procurement from local suppliers (across Peninsular and East Malaysia) Collaborated with HSBC Amanah Malaysia Berhad to develop a Syariahcompliant Supplier Financing Programme, with over 380 SMEs invited to join M anaged 19 Green Building Index (“GBI”) and Leadership in Energy and Environmental Design (“LEED”)-certified buildings at various certification levels A chieved 38,178,319 kWh in energy savings for our clients per year between 2016 and 2022 through our energy performance contracting (“EPC”) services C onserved 6,000 m3 of natural water through the natural water harvester exercise C ollected 6,603 containers through our in-house KLEAN reverse vending machine Received zero monetary fines or significant non-monetary sanctions for non-compliance with applicable laws and regulations Recorded 393,898.5 hours of employee development training, with 99.1% of our employees fulfilling their training requirements Embark on targeted initiatives for prioritised material matters Conducted planned initiatives Enhance sustainability governance Enhanced Terms of Reference for Board Committees and Setting up ESG Steering Committee Improve data collection and addressing gaps Identified Data Owners and established a central data repository Build a culture of sustainability Created awareness on ESG matters across the Group Enhance policies Updating our Sustainability Policy 01 02 03 04 05
BUSINESS HIGHLIGHTS 2022 KEY HIGHLIGHTS 2022 KEY HIGHLIGHTS FINANCIAL HIGHLIGHTS WITH SUMITOMO CORPORATION ASIA, SOFTBANK CORPORATION, MEC CLEARWASTE BERHAD, DISRUPT-X AND ITMAX SYSTEM BERHAD EDGENTA PARTNERS OPERON MIDDLE EAST (OME) NAMED AS ONE OF THE GULF’S TOP 50 FACILITIES MANAGEMENT ENTITIES OF 2022 INFRASTRUCTURE SERVICES EXPANDED ITS PRESENCE IN INDONESIA WITH 2 NEW CONTRACT WINS STAKE IN MEEM, PROVIDING A STRONG INTEGRATED FACILITIES MANAGEMENT (“IFM”) OPERATING BASE IN THE KINGDOM OF SAUDI ARABIA (“KSA”) 60% EQUITY ACQUIRED A REVENUE MILLION RM2,523.6 (2021: RM2,292.4 million) PBT MILLION RM93.8 (2021: RM78.6 million) NORMALISED PAT MILLION RM63.1 (2021: RM57.3 million) GROSS GEARING RATIO 0.29x (2021: 0.29x) NET ASSETS PER SHARE RM1.90 (2021: RM1.85) TOTAL CASH, BANK BALANCES, DEPOSITS AND SHORT-TERM INVESTMENTS MILLION RM706.7 (2021: RM628.7 million) DIVIDEND PER SHARE SEN 4.0 (2021: 3.0 sen) EBITDA MILLION RM179.9 (2021: RM157.1 million) PAT MILLION RM45.7 (2021: RM43.4 million) PATANCI MILLION RM45.9 (2021: RM42.0 million) NET CASH POSITION MILLION RM247.9 (2021: RM185.2 million) SHAREHOLDERS’ FUNDS MILLION RM1,580.9 (2021: RM1,535.8 million) WITH RM1.36 BILLION IN NEW CONTRACT WINS IN FY2022 ORDER BOOK STANDS AT RM9.6 BILLION (2021: RM10.8 billion order book) RENEWED SEVEN MAJOR HEALTHCARE CONTRACTS AND EXPANDED INTO PROVISION OF SERVICES TO HOSPITALITY BUSINESSES IN SINGAPORE TOTAL ASSETS MILLION RM2,868.7 (2021: RM2,855.1 million) EARNINGS PER SHARE SEN 5.5 (2021: 5.1 sen) p.10 p.11 UEM EDGENTA BERHAD INTEGRATED ANNUAL REPORT 2022 1 2 3 4 5 6 7 8 9 OVERVIEW OF UEM EDGENTA BERHAD
2022 KEY HIGHLIGHTS SUSTAINABILITY HIGHLIGHTS AWARDS AND RECOGNITIONS DELIVERED 15 COMMUNITY PROJECTS AND ENGAGEMENTS 3,798 TONNES OF ORGANIC WASTE DIVERTED FROM LANDFILLS IN 2022 98% OF OUR OPERATING SITES ARE ISO 14001 CERTIFIED KSI STRATEGIC INSTITUTE FOR ASIA PACIFIC (KSI) Winner of the 2022 Malaysia Outstanding ESG Impact Corporate Excellence Awards FROST & SULLIVAN Malaysia Facilities Management Company of the Year for the 7th consecutive year ORACLE CLOUD Finalist in the Innovate Award Category, Oracle Cloud HCM (Human Capital Management) HR Heroes Awards MINORITY SHAREHOLDERS WATCH GROUP (MSWG) MSWG-ASEAN Corporate Governance Award 2021: Industry Excellence Award Winner for Corporate Governance Disclosure (Industrial Products and Services) THE INSTITUTION OF ENGINEERS, MALAYSIA (IEM) Winner of the Institution of Engineers Malaysia (“IEM”) Award 2022 for Contribution to the Engineering Industry in Malaysia (Asset Management – Industries) ASEAN ENERGY MANAGEMENT SCHEME (AEMAS) Thirty 3-Star ratings and two 2-Star ratings in the Energy Management Gold Standard (“EMGS”) for hospitals under the Healthcare Support division U.S. GREEN BUILDING COUNCIL (USGBC) Platinum rating in the Leadership in Energy and Environmental Design (“LEED”) certification for Hospital Slim River CONSTRUCTION INDUSTRY DEVELOPMENT BOARD (CIDB) 4-star ratings in the Malaysian Carbon Reduction and Environmental Sustainability Tool (myCREST) certification for Hospital Sungai Siput SINGAPORE BUSINESS REVIEW Winner of the Malaysia Technology Excellence Award (Digital – Clinic Management) DEPARTMENT OF OCCUPATIONAL, SAFETY AND HEALTH (DOSH), MINISTRY OF HUMAN RESOURCES “Best Workplace” title in the Category 1 Systematic Occupational Health Enhancement Level Programme (SOHELP DIY) EDGENTA WORKPLACE WELLNESS (“WoW”) LAUNCHED BY HSSE AND HR 27.8% WOMEN IN TOP MANAGEMENT 19 GBI AND LEED CERTIFIED BUILDINGS AT VARIOUS CERTIFICATION LEVELS MANAGING 17,447 CARBON FOOTPRINT 2022: TCO2 OF TOTAL ELECTRICITY USED IN MENARA UEM SOLAR PANELS CONTRIBUTE 4.0% IN ENERGY CONSUMPTION* AND APPROXIMATELY 11% REDUCTION IN WATER CONSUMPTION 52% REDUCTION OUR SOLUTIONS ENABLE UP TO *Throughout life of the asset 3.1 ATTAINED A FTSE4GOOD RATING OF (2021: 2.5) KWH IN 2022 TOTAL ENERGY SAVINGS OF 38 MILLION (2021: 37) OF 88% ACHIEVED AN OVERALL AVERAGE CSS SCORE (2021: 87%) 32 HOSPITALS UNDER THE HEALTHCARE SUPPORT DIVISION AWARDED THE ENERGY MANAGEMENT GOLD STANDARD SUSTAINABLE INVESTMENTS: ASSETS WE MANAGE IN OUR VALUE CHAIN PURCHASED ELECTRICITY TO EXPANDED DATA COLLECTION FOR SCOPE 2 (2021: 25 sites) 62 SITES p.12 p.13 UEM EDGENTA BERHAD INTEGRATED ANNUAL REPORT 2022 1 2 3 4 5 6 7 8 9 OVERVIEW OF UEM EDGENTA BERHAD
p.15 1 2 3 4 5 6 7 8 9 OVERVIEW OF UEM EDGENTA BERHAD p.14 UEM EDGENTA BERHAD INTEGRATED ANNUAL REPORT 2022 OUR PRESENCE OUR PRESENCE UEM Edgenta is the region’s leading tech-enabled Asset Management and Infrastructure Solutions company. Driven by our tech and sustainability solutions, we have established our expertise in Healthcare Support, Property & Facility Solutions, Infrastructure Services and Asset Consultancy. We operate in 6 countries across the region MALAYSIA 6,722 employees TAIWAN 6,561 employees UNITED ARAB EMIRATES 265 employees THE KINGDOM OF SAUDI ARABIA* 7 employees SINGAPORE 2,923 employees INDONESIA 3 employees INDONESIA THE KINGDOM OF SAUDI ARABIA* UNITED ARAB EMIRATES REVENUE RM75.0 million TAIWAN SINGAPORE * As of FY2022, establishment in the Kingdom of Saudi Arabia was in the incorporation phase. MALAYSIA REVENUE RM1,567.6 million REVENUE RM467.0 million REVENUE RM401.9 million REVENUE RM12.1 million 6,882 9,599 Malaysian Non-Malaysian 16,481 TOTAL EMPLOYEES 62.1% 37.9% Malaysia Operations Non-Malaysia Operations RM2.5 TOTAL REVENUE billion
CONCESSION COMMERCIAL Khazanah Nasional Berhad UEM Group Berhad UEM Edgenta Berhad 69.14% 100% OUR CORPORATE STRUCTURE OUR CORPORATE STRUCTURE ASSET MANAGEMENT INFRASTRUCTURE SOLUTIONS HEALTHCARE SUPPORT PROPERTY & FACILITY SOLUTIONS INFRASTRUCTURE SERVICES ASSET CONSULTANCY TECHNOLOGY INNOVATION OTHERS 100% Edgenta Healthtronics Sdn. Bhd. 100% Edgenta Mediserve (Sarawak) Sdn. Bhd. 100% Cermin Cahaya Sdn. Bhd. 100% Edgenta Mediserve (Sabah) Sdn. Bhd. 40% Sedafiat Sdn. Bhd. 40% One Medicare Sdn. Bhd. 40% Biomedix Solutions Sdn. Bhd. Edgenta Healthcare Management Sdn. Bhd. Edgenta Mediserve Sdn. Bhd. Edgenta (Singapore) Pte. Ltd. 100% Edgenta UEMS Sdn. Bhd. 100% Edgenta UEMS SC Ltd. (Taiwan) 100% Edgenta UEMS Ltd. (Taiwan) 100% UEMS Solutions Pte. Ltd. (Singapore) Other Subsidiary Other Subsidiary 100% Edgenta Facilities Management Sdn. Bhd. Other Subsidiaries Other Subsidiary 100% Opus International (M) Berhad 30% Opus Consultants (M) Sdn. Bhd. Other Subsidiaries Other Subsidiaries *Direct and indirect interest. As at 31 March 2023 100% 100%* UEMS Pte. Ltd. (Singapore) 100% 100% 100% 100% Edgenta Facilities Sdn. Bhd. 100% Edgenta Infrastructure Services Sdn. Bhd. 99.9% PT Edgenta PROPEL Indonesia 100% 100% 100% Edgenta PROPEL Berhad Opus Group Berhad Edgenta NXT Sdn. Bhd. 100% Edgenta Environmental & Material Testing Sdn. Bhd. Edgenta GreenTech Sdn. Bhd. Other Subsidiaries 100% Edgenta Township Management Services Sdn. Bhd. 100% Edgenta Energy Projects Sdn. Bhd. 70% Edgenta Energy Services Sdn. Bhd. Edgenta Arabia Limited (Kingdom of Saudi Arabia) 100% 60% MEEM for Facilities Management Company (Kingdom of Saudi Arabia) p.16 p.17 UEM EDGENTA BERHAD INTEGRATED ANNUAL REPORT 2022 1 2 3 4 5 6 7 8 9 OVERVIEW OF UEM EDGENTA BERHAD
WHAT WE DO WHAT WE DO HEALTHCARE SUPPORT PROPERTY & FACILITY SOLUTIONS HEALTHCARE SUPPORT The Healthcare Support division focuses on hospital support services for 250 healthcare institutions in Malaysia, Singapore and Taiwan. We incorporate ESG considerations into our business practices to ensure sustainability and promote social responsibility. As the leading company in the implementation of sustainability programmes, our achievements include effective conservation measures through energy performance contracting, retrofitting projects, solar photovoltaic installation and adoption of energy management standards; enhanced indoor air quality systems; and the setting up of impactful waste management programmes to enable significant reductions in waste. Our innovative solutioning mindset and continuous efforts in adopting new technologies that leverage on robotics, Internet of Things (“IoT”) and data analytics provide real-time, reliable and precise information. This is crucial for our service execution efficiency and effectiveness as we strive to ensure enhanced patient outcomes, competitiveness and market leadership. Empowered by cutting-edge technologies and data-driven insights, our Property & Facility Solutions division delivers performancebased programmes that optimise asset quality and improve the lives of occupants. Our portfolio spans a wide range of commercial and industrial properties across Malaysia and the UAE. Within each facility, we aim to provide building owners with a holistic view of their assets, processes and people, facilitating decision-making that enhances liveability and asset performance while driving cost and process efficiencies. This is aided by the Edgenta SmartConnect platform, which integrates big data analytics and IoT technologies for improved asset governance. Meanwhile, we are progressing on the commercialisation of Asseto, a scalable and interoperable platform that will enable us to meet the demands of smart cities around the world. With building owners increasingly attuned to the importance of climate action, our EPC and green building certification solutions enable effective transitions to greener and more energy-efficient operations, thereby further enhancing our proposition in the industry. SOLUTIONS PROPERTY & FACILITY Facility management services at more than 500 buildings and facilities Reduction of 10% to 52% of annual electrical energy savings for the systems and assets we replace and optimise Energy Efficiency Solutions implemented in 19 GBI and LEED CERTIFIED buildings across Malaysia Energy savings per year of more than 38 million kWh, equivalent to RM16.2 million in cost savings Preserve the lifespan of more than 54,000 BEMS assets worth over RM1.7 billion Care for more than RM900 million worth of FEMS assets Process over 19,500 tonnes of soiled linen annually Incinerate 8,200 metric tonnes of clinical waste annually Maintain over 1.7 million sqm2 of cleanable area daily Over 1,000 units of cleaning machineries This data is for Edgenta Healthcare Management Sdn. Bhd. only. This data is for 11 EPC projects from year 2016 until 2022. p.18 p.19 UEM EDGENTA BERHAD INTEGRATED ANNUAL REPORT 2022 1 2 3 4 5 6 7 8 9 OVERVIEW OF UEM EDGENTA BERHAD
With a portfolio spanning 4,000 km of highways and state roads and over 30 years of industry experience, our Infrastructure Services division is the nation’s foremost name in infrastructure maintenance. Utilising sophisticated technologies and process improvement concepts, our aim is to maintain the quality and enhance the performance of our clients’ assets over time. This has enabled us to expand beyond our core of highway maintenance to provide services for rail, airports, ports, oil and gas, plantation roads and other commercial and industrial sectors. Our commitment to excellence is upheld by our team of experienced professionals, enabling us to play a key role in continued infrastructural and economic development, both in Malaysia and Indonesia. INFRASTRUCTURE SERVICES ASSET CONSULTANCY Our Asset Consultancy division is represented by Opus Consultants, a leading engineering, project and asset management consultancy with more than 30 years of experience in delivering large-scale infrastructure projects. Through end-to-end collaboration with our clients, we deliver industry-leading standards across project management, asset management, engineering and technical consultancy services, striving to exceed stringent time, quality and budgetary requirements. As a result, we have developed a strong portfolio of infrastructure projects that span transportation, buildings and integrated developments. Driven by our experienced and passionate team, our next frontier lies in driving the development of infrastructure in East Malaysia, to which end we have executed a shareholding agreement for a joint venture with PPES Consults Sdn. Bhd., a wholly-owned subsidiary of Sarawak Economic Development Corporation (“SEDC”). WHAT WE DO WHAT WE DO INFRASTRUCTURE SERVICES ASSET CONSULTANCY Manage infrastructure assets worth >RM10 billion Maintain around 4,000 km of expressways and state roads in Malaysia and Indonesia Road Asset Management System has enabled 1,500 km of expressway and state road assets to be brought online Engaged in expressways, state roads, airports, plantations and rail Represented by 2 Sectors Highways and Bridges Rail Engaged in infrastructure projects valued at more than RM110 billion, which include ongoing construction projects A team of 400 professionals, comprising engineers and project managers, located throughout Malaysia p.20 p.21 UEM EDGENTA BERHAD INTEGRATED ANNUAL REPORT 2022 1 2 3 4 5 6 7 8 9 OVERVIEW OF UEM EDGENTA BERHAD
WHAT DIFFERENTIATES US: OUR STRENGTHS STOCK EXCHANGE LISTING CREDIT RATINGS MARC AASTABLE Main market of Bursa Malaysia Over the years, we have nurtured strong partnerships with private and public institutions across our markets of operation, providing us a sturdy base upon which to drive our expansion. Now, in line with our focus on technology, we are rapidly formalising strategic partnerships with a range of global innovation frontrunners, providing us with an ecosystem of integrated solutions that enable effective and efficient asset lifecycle management for our clients. TRUST-BASED PARTNERSHIPS With a presence in six markets and across various sectors, we are able to capture high margin growth opportunities in emerging and fast growing markets while maintaining agile operations. Specifically, through our presence in the KSA, the UAE and Indonesia, we are well positioned to participate in tenders for Smart City projects and projects linked to the Saudi Vision 2030 and Nusantara infrastructure blueprints. DIVERSIFICATION THROUGH GEOGRAPHIES AND PORTFOLIO In a rapidly digitalising world, our technology-based solutions such as Asseto and UETrackTM provide our clients with a holistic view of their assets, enabling them to drive innovation and maximise efficiencies. By integrating technology in this way, we are moving up the asset management value chain towards becoming a Smart City enabler and a TechnologyEnabled Solutions Company by 2025. TECHNOLOGY DIFFERENTIATION Our strong balance sheet and resurgent earnings provide us the ability to weather short-term volatility and deploy for growth opportunities, both organically and inorganically. This is supported by a Group-wide focus on optimising costs and harnessing group synergies, bolstering our resilience in a time of significant macroeconomic headwinds. Further to this, we are committed to our dividend policy of 50-80% of PATANCI with the aim of maximising shareholder value. FINANCIAL STRENGTH OPERATIONAL EXCELLENCE Through the integration of digital technology and automation within our processes, we are equipped to deliver solutions more efficiently while maintaining our high standards of quality. At the same time, we seek to continuously strengthen our supplier base by providing access to upskilling initiatives and technology-based support. Through initiatives such as the Edgenta Innovation Programme and our “Low Code No Code” platform, our employees are encouraged to go beyond their day-to-day job scopes and drive innovation that delivers bottom-line results. By providing such avenues for growth, alongside a wide range of training programmes and holistic care for their health and wellbeing, we are nurturing a future-ready workforce that is prepared for the challenges and opportunities of the global market. FUTUREREADY WORKFORCE With the launch of our sustainability roadmap, we have set specific focus areas and targets that will guide our journey, empowering our teams to embed sustainability within our operations and enhance the value we create for communities, national economies and the environment. In addition, we provide sustainability-related solutions that align with our clients’ sustainability agendas. Our solutions help our clients reduce their environmental impact, promote responsible business practices and contribute to a more sustainable future. Moving forward, we are set to launch our net zero targets in 2023. SUSTAINABILITY p.22 p.23 UEM EDGENTA BERHAD INTEGRATED ANNUAL REPORT 2022 1 2 3 4 5 6 7 8 9 OVERVIEW OF UEM EDGENTA BERHAD
2022 KEY SIGNIFICANT EVENTS 2022 KEY SIGNIFICANT EVENTS GROWING OUR INTERNATIONAL BUSINESS PRESENCE DEEPENING OUR COMMITMENT TO SUSTAINABILITY Inked a deal with ITMAX System Berhad to set up Smart City solutions in the UAE and offer smart facilities monitoring and management programmes in Malaysia Secured the contract to manage assets and users for Towers 1, 2 and 3 of the Petronas Twin Towers under Asseto Spent RM195,000 and contributed 790 volunteering hours to community projects, benefitting 12,500 underprivileged communities across Malaysia Assisted 19 buildings in attaining GBI and LEED certification for resource-efficiency and environmental friendliness Mobilised 15 Field Hybrid ICUs to reduce the burden on public healthcare facilities and assist the nation’s COVID-19 recovery efforts Won the Institution of Engineers Malaysia (IEM) Award 2022 (awarded to Opus Consultants) for their contributions to the engineering industry in Malaysia Launched our two-year sustainability roadmap, outlining detailed initiatives across six key pillars of action Received the 2022 Malaysia Outstanding ESG Impact Corporate Excellence Award from KSI Strategic Institute for Asia Pacific Expanded our presence in East Malaysia by setting up a regional office in Sarawak for our Asset Consultancy division Formed a strategic collaboration with Sumitomo Corporation Asia and Softbank Corporation to offer their portfolio of technology and sustainability-based solutions to our customers Collaborated with HSBC Amanah Malaysia Berhad (“HSBC Amanah”) to develop a Syariah-compliant Supplier Financing Programme that provides Malaysian SMEs with affordable, collateral-free funding Acquired a 60% stake in MEEM, an established facility management company in the KSA, facilitating our entry into this high growth market Established a partnership with Byte Blanket and Disrupt-X to spearhead end-to-end, IoT-based IFM and Smart City solutions in the Middle East We made progress on several key fronts in 2022 – from establishing new partnerships and making headway on our global expansion plan to diversifying into new sectors – in line with our drive to become a Technology-Enabled Solutions Company. Our ongoing sustainability journey was also boosted with the launch of our two-year sustainability roadmap, paving the way for us to deliver greater impact across the ESG spectrum in the future. CONTRIBUTING TO NATION BUILDING EFFORTS p.24 p.25 UEM EDGENTA BERHAD INTEGRATED ANNUAL REPORT 2022 1 2 3 4 5 6 7 8 9 OVERVIEW OF UEM EDGENTA BERHAD
EDGENTA DIGITAL ECOSYSTEM PLATFORM BRIDGING THE GAP BETWEEN PRESENT AND FUTURE SERVICE DELIVERY The asset and facilities management industry is evolving fast, moving away from the traditional ‘maintain-repair-restore’ model towards an emphasis on asset quality preservation and continuous operational optimisation of buildings, townships and even cities. This paradigm shift opens the door for innovative technology-based solutions, which we are delivering through Edgenta NXT. Edgenta NXT is our in-house digital venture, established in July 2021 to commercialise technologies and technology-based intellectual properties to expedite Edgenta-wide digital transformation and facilitate rapid international expansion. We have developed three proprietary technology products - Asseto, Asseto for Health and QuickMed - each of which digitalise manual processes and facilitate data-driven insights to improve efficiency, enable better decision making and deliver bottom line results. We are continuously adding to these offerings through integration with ecosystem partners and reputable technology innovators globally. By driving our differentiation, deepening our solutions base and enabling cost optimisation, Edgenta NXT is not only growing a new revenue stream for the Edgenta Group but is also the key catalyst behind our Edgenta of The Future 2025 (EoTF2025) goals, empowering us on our journey to become a TechnologyEnabled Solutions Company. INNOVATION IN HEALTHCARE In the wake of COVID-19, QuickMed was introduced as a timely solution to address the unprecedented challenges faced by the healthcare sector. As the pandemic situation evolved, the team behind QuickMed recognised the need to adapt and leveraged their learnings to develop Asseto for Health, an extension of our core product, Asseto. QUICKMED Incorporates clinic management, a COVID-19 screening booking platform and the Home Quarantine Management System (“HQMS”), enabling effective management of COVID-19 testing, quarantine and tracking at the national level ASSETO FOR HEALTH An evolution of our tech-based healthcare support, Asseto for Health combines key components of QuickMed’s clinical capabilities with non-clinical capabilities under a usage-based, interoperable platform that meets the day-to-day needs of hospitals and other healthcare providers. Currently Asseto for Health is in the pilot phase, with the aim of launching a Minimum Viable Product in 2023. Digital Tracker: 88,000 unique international passengers managed while in quarantine COVID-19 swabbing: 1,000 online bookings across four clinics COVID-19 Assessment Centre: 7,000 patients across six sites In 2022, Asseto was selected by KLCC Urusharta to manage its assets, contractors and users across Towers 1, 2 and 3 of the Petronas Twin Towers. In addition, we have integrated Asseto into our processes at 11 different sites under our Property & Facility Solutions division. Asseto is a powerful digital ecosystem designed to boost efficiency, intelligence and sustainability for businesses, governments and asset owners. Focusing on interoperability, Asseto seamlessly integrates key technologies such as automation, sensors, robots, and data aggregation to facilitate data-driven decisions that benefit all users. At the heart of Asseto’s value proposition is an integrated ecosystem that optimises energy consumption, waste management and user experience through AI and IoT capabilities. This approach encourages the development of smarter, greener assets and aids in selecting the “right” assets for greater sustainability. Asseto also prioritises predictive maintenance, enabling proactive asset management for increased efficiency, reduced operational costs and extended asset lifespan. Furthermore, the platform streamlines communication and collaboration, enhances decision-making processes and improves user experience. By fostering a cohesive and interoperable ecosystem, Asseto delivers exceptional value, promoting unbiased data-driven decision-making and a more sustainable future. SCALABLE Competitive pricing through a pay-as-you-grow model INTEROPERABLE Easily integrates with third-party applications for extended value CONFIGURABLE Drag-and-drop capabilities with minimal customisations required GROWING ECOSYSTEM Continuously expanding capabilities through strategic partnerships with technology leaders including Alibaba, ITMAX, Disrupt-X, Softbank and Sumitomo p.26 p.27 UEM EDGENTA BERHAD INTEGRATED ANNUAL REPORT 2022 1 2 3 4 5 6 7 8 9 OVERVIEW OF UEM EDGENTA BERHAD
KEY MESSAGES Chairman’s Statement 31 Managing Director/Chief Executive Officer’s Statement 36 Chief Financial Officer’s Review 42
TAN SRI DR. AZMIL KHALID Independent Non-Executive Chairman CHAIRMAN’S STATEMENT Dear valued stakeholders, 2022 was a seminal year for the Group. Driven to evolve by changing realities, we are now truly global both in presence and mindset, with an appetite to solidify our position as a technologydriven innovator across sectors and geographies. However, our drive to capture new opportunities has not swayed our attention from what matters most – delivering sustainable value for our people, our communities and our nation. The notable progress that we have made across these dimensions is a testament to how fully the Edgenta Way of doing business has become embedded across our people and processes. It indicates, crucially, that we have secured the buy-in of our teams towards embracing transformation that delivers results for our bottom line and our sustainability agenda alike, in line with the theme of this year’s report – Driving Technology, Advancing Sustainability. It is this holistic approach – and its varied and encouraging outcomes - that I shall aim to articulate in this statement. DELIVERING ON OUR STRATEGIC IMPERATIVES Creating sustainable value begins with being a sustainable business and in this respect we have taken great strides during the past year. By leveraging strategic partnerships and continuously investing in our digital capabilities through Edgenta NXT, our dedicated digital venture, we’ve made significant progress in the commercialisation of Asseto and our other digital solutions. Meanwhile, we have also gained traction in providing technology-driven green building solutions and integrated healthcare and facility solutions to our clients. These positive developments have served to further drive our differentiation in the increasingly competitive landscape for asset and facilities management. As a result, we delivered a commendable 10.1% increase in both revenue and Normalised PAT during the year under review. This was achieved amidst a challenging, high cost operating environment and is a testament to the effectiveness of our operational efficiency and cost optimisation efforts. During 2022, we also secured RM1.36 billion in new wins – a 30% year-on-year increase - with 62% of these contracts being awarded for projects outside our home base of Malaysia. As a result of our strong performance, we issued an increased dividend of 4 sen per share for the financial year ended 31 December 2022, consistent with our policy of providing optimum shareholder returns. Just as important as our results, however, has been our attendant shift in mindset – from being a mere protector to an enhancer of asset value, integrating technologies into traditional setups in order to enhance the lives of people who use the facility and empower asset owners to track and improve their sustainability performance. By positioning ourselves as a technology and sustainability-centric company, we are moving up the value chain and strengthening our proposition in the global market. p.31 p.30 1 2 3 4 5 6 7 8 9 UEM EDGENTA BERHAD INTEGRATED ANNUAL REPORT 2022 KEY MESSAGE
CHAIRMAN’S STATEMENT CHAIRMAN’S STATEMENT AS A TECH AND SUSTAINABILITYCENTRIC SOLUTION PROVIDER, WE ARE FUTURE-ORIENTED AND WELL POSITIONED TO CONTINUE ON OUR GROWTH PATH. MOREOVER, BY EMBEDDING TECHNOLOGY WITHIN OUR OWN OPERATIONS, WE ARE EQUIPPED WITH THE TOOLS TO BE MORE SUSTAINABLE AND TO DRIVE SHARED VALUE FOR OUR PEOPLE, COMMUNITIES AND PLANET. IN JUNE 2022, WE LAUNCHED OUR TWO-YEAR SUSTAINABILITY ROADMAP (FY2022 - FY2024), OUTLINING A FOCUSED, GROUP-WIDE SUSTAINABILITY PATHWAY AS WELL AS A CLEAR FRAMEWORK ON GOVERNANCE, PERFORMANCE MANAGEMENT AND REPORTING THAT IS IN LINE WITH INDUSTRY AND GLOBAL STANDARDS. While we develop our long-term action plan, our waste management, material utilisation and water consumption efforts continue apace. Leveraging on our partnership with PLUS Malaysia, a recycling campaign was initiated across three Rest and Service Areas (“RSA”) along the North-South Highway, together with the rollout of the KLEAN machine, an AI-driven reverse vending machine. Conscious of the importance of effective stewardship in an increasingly water-stressed world, we are also looking to scale up our existing rainwater harvesting facilities beyond the eight sites they are currently situated at. Beyond our own operations, we strive to deliver greater impact by embedding sustainability within our services and solutions. In 2022 alone, we delivered in this area by assisting eight hospital clients to receive the Green Building Index (“GBI”) certification and commencing the tracking of waste in client premises for enhanced waste management. We are also working with Alibaba to integrate their sustainability platform within Asseto so that our customers can measure, analyse and manage their carbon emissions. In a world where sustainability performance is growing in importance, these solutions make a tangible difference for asset owners and are helping to drive our differentiation as a service provider. It has been equally encouraging to see the progress we have made in international expansion and diversification. During 2022, we officially entered the market of the KSA with the establishment of Edgenta Arabia Limited (“EAL”) and the impending purchase of a 60% stake in MEEM, one of the country’s leading facilities management companies. As a result, we are now in a strong position to bid for the sizeable Integrated Facilities Management (“IFM”) contracts that will become available under the government’s Saudi Vision 2030 masterplan. At the same time, we have also deepened our penetration of the industrial and hospitality sectors while picking up key contracts for infrastructure services and asset consultancy in East Malaysia and Indonesia, thereby making strong headway on our Pan Malaysia strategy and building our regional presence. These wins are a testament to the dedication of our team, who are invested in our Edgenta of The Future 2025 (“EoTF2025”) strategy and making it a success. Due to the proactive steps we have taken in the past year, we are now a more diverse organisation than before, both in terms of geography and sectoral presence. This means that we can access growth markets and quality earnings opportunities across Asia with agility, leveraging technology and sustainability-driven solutions to deliver added value to asset owners and enhance value creation for all stakeholders. DEEPENING OUR ESG COMMITMENT At UEM Edgenta, sustainability is a key driver of our value creation aspirations. By embedding sustainable practices into our operations and offering products and solutions that improve our customers’ sustainability performance, we aim to drive positive impact across our value chain and be recognised as an industry leader in ESG. In June 2022, we launched our two-year sustainability roadmap (FY2022 – FY2024), outlining a focused, Group-wide sustainability pathway as well as a clear framework on governance, performance management and reporting that is in line with industry and global standards. Guided by our roadmap, we then commenced our inaugural emissions inventory exercise in August 2022 with the collection of emissions data from across the Group, while introducing capacity building programmes to empower our Board, management personnel and data owners in understanding our environmental footprint and how we can structure emissions reduction goals. Complementing these actions, we have also taken a more active role in climate action at the national level, becoming a member of Climate Governance Malaysia and shaping collective action through the CEO Action Network (“CAN”). As a consequence of our focused efforts in sustainability, our FTSE4Good rating improved significantly – from 2.5 to 3.1 – during the past year. This places us above the emerging markets threshold for possible inclusion in the index and indicates that we are tracking well against global ESG standards. Meanwhile, we were honoured at the 2022 Malaysia Outstanding ESG Impact Corporate Awards by the KSI Strategic Institute for Asia Pacific, a testament to our strong performance across the ESG spectrum. Our varied initiatives and their impacts are detailed in our expanded and enhanced Sustainability Statement, which provides insight into the role that sustainability will continue to play in building the Edgenta of The Future. STANDING ASTRIDE OUR PEOPLE AND COMMUNITIES Environmental action forms one focus area of our ESG framework, which also enshrines Education and Community Enrichment and Well-Being as pillars of our approach to creating long-term value. In 2022, our community-based activities spanned 15 livelihood projects and stakeholder engagement activities, impacting more than 12,500 underserved communities nationwide and assisted by 790 volunteering hours contributed by our Edgenta Stars. These activities included support provided to underprivileged communities for festive celebrations, the donation of critical healthcare equipment, the refurbishment of school premises, the provision of school supplies to low-income families and disaster relief to mitigate against the impact of ever more frequent floods across Malaysia. Looking forward, we will continue to attune ourselves to the evolving needs of communities in our vicinity, with the aim of delivering programmes that drive sustainable socio-economic development and further our impact as nation builders. p.32 p.33 UEM EDGENTA BERHAD INTEGRATED ANNUAL REPORT 2022 1 2 3 4 5 6 7 8 9 KEY MESSAGE
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