OUR BUSINESS STRATEGIES TO SUSTAIN VALUE CREATION (cont’d) They have also faced legal investigations by the authorities while the brand reputation and image of these companies have come under intense negative scrutiny. The cumulative impact in terms of value eroded is significant. As businesses now look to comply with standards for the provision of humane living and working conditions, MYEG’s foreign worker hostels are strategically positioned to meet this growing requirement. Presently, MYEG has at least two such facilities in active operations to accommodate foreign workers on a short, medium to long-term basis. Revenue is derived from rental of the facilities and the provision of asset management and related services. The plan is to develop more such sites to meet increasing demand from factory operators (manufacturing companies), construction and plantation companies. Provision of foreign worker hostels that meet local regulatory requirements and the standards set by international buyers. Satisfied, healthy workers, reduced incidences of labour and human rights infringements and OSH incidents. Businesses can continue to operate without risks of fines, site closures, damaged reputation or loss of international buyers. Funding of this capital-intensive business strategy will come from the Group’s RM1 billion Sukuk Wakalah programme as well as from internally generated funds (refer to the Our Capitals section). ONLINE RETAIL Despite the COVID-19 pandemic receding and the global and domestic macro-economic situation returning almost to normalcy, consumer appetite for online shopping, especially for groceries and other necessities continues to grow exponentially. Therefore, MYEG continues to remain stable in its BELI online platform offerings as well as the last mile delivery. BELI MYEG Delivery Fleet Competitive Online Retail Platform 53
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