The Group received and utilised tax benefits as follows: Tax relief and tax credits F or UEM Edgenta and its subsidiaries, there was utilisation of previously unrecognised losses and reinvestment allowance against current year income tax amounting to RM6.6 million in tax reliefs/credits. There was no actual cash inflow as this amount was deducted from respective companies’ chargeable income, thereby reducing the amount of estimated income tax payable for the financial year ending 2022 In line with Group-level principles of non-discriminatory compensation to improve the welfare of the local communities in areas that we operate in, the Human Resource Department has continually maintained insightful statistics in relation to these efforts, enabling close monitoring and progressive improvement to compensation schemes. With that, the Group is pleased to disclose the following performance data as a testament to our local recruitment and minimum wage compliance efforts: Male to female minimum wage ratio Local recruitment performance UEM Edgenta and its local subsidiaries UEM Edgenta and its subsidiaries UEMS Singapore 1:1 (at significant locations of operations1) 100% 0.30% 85% 0.38% UEMS Singapore UEMS Singapore Operon 1:1 1 Significant locations of operations can be defined as Malaysia and Singapore for UEM Edgenta and UEMS Singapore respectively while for Operon, it is defined as the area where the Company delivers contractual services within the United Arab Emirates. 2 Senior Management refers to the Top Management and Headquarter Management staffs for UEM Edgenta and UEMS Singapore respectively while in Operon, it refers to the highest level of authority within its operations. 3 The term “local” refers to Malaysia and Singapore respectively for UEM Edgenta and UEMS Singapore and within the Emirates of the United Arab Emirates for Operon. Entity Entity Entity Minimum wage ratio* Senior management2 hired locally Senior management from the local3 community Guided by our central tenet that an empowered workforce plays an integral part in driving long-term business performance and economic growth, we will continue to champion equitable pay for our employees that sufficiently reflects increasing living costs. This approach also shapes our overall compensation policy, which is designed on a fair and structured basis to reallocate value generated from our operations to the communities that have been paramount to our continued success. “Note: Operon, which operates in the UAE, is not governed by minimum wage requirements. Moving forward, the Group is committed to further enhancing Asseto’s core by developing applications for other types of buildings and infrastructure, including hospitals and road infrastructures. As we move forward in pioneering technology solutions to transform the industry, the Group recognises the importance of developing a more cohesive technology ecosystem that can integrate with various partner solutions across various verticals to further enhance our value proposition to our clients. To this end, the Group has formalised several partnerships with leading international companies to further enhance its solutions for smart cities and sustainability. During the year under review, partnerships were formed with Disrupt-X on the customised development of an IoT platform for the facilities management industry, Sumitomo Corporation Asia and Softbank Corporation for the creation of smart and sustainable city solutions, ITMAX Systems for solutions pertaining to the field of public space networked systems and related analytics intelligence, and Alibaba on the integration of Asseto and Alibaba’s sustainability platform to help the Group and our customers measure, analyse and manage carbon emissions. These partnerships and solutions will be offered via Edgenta NXT through its Asseto platform with an interoperable infrastructure that enables data and analytics to be integrated from the source. ENHANCE PRODUCT AND TECHNOLOGY PROPOSITION While the focus in the prior year was to initiate UEM Edgenta’s digital ecosystem platform (i.e., Edgenta NXT), our attention for the year under review was to launch the platform into our service offerings. Asseto, a new performance-based Computerised Maintenance Management System (“CMMS”) platform developed in-house, was launched in October 2022. This software-as-a-service platform will help pave the way for Edgenta NXT’s smart buildings solutions by anchoring on the need for renewed efficiency in infrastructures, enabling real-time data convergence on a single platform to empower engineers and facilities managers to manage multiple buildings seamlessly and efficiently. To-date, Asseto has been rolled out across all of the buildings that are being managed under the Property & Facility Solutions division with more than 30,000 assets already connected to the platform. Building on the success of the internal roll-out, Asseto was then introduced for the first time in a commercial environment to enhance maintenance work orders and business processes for the Petronas Twin Towers and Petronas Tower 3. The platform rides on cutting-edge technology to enable real-time operations and automation, contributing to the reduction of manual work, eliminating manual surveillance and supporting audit tracking, thereby increasing overall performance at project sites. p.124 p.125 UEM EDGENTA BERHAD INTEGRATED ANNUAL REPORT 2022 1 2 3 4 5 6 7 8 9 SUSTAINABILITY STATEMENT SUSTAINABLE ECONOMIC GROWTH SUSTAINABLE ECONOMIC GROWTH
RkJQdWJsaXNoZXIy NDgzMzc=