2023 SUSTAINABILITY REPORT 97 ANNUAL REPORT 2023 11. GOVERNANCE 11.1 OUR APPROACH Good corporate governance underpins the success of our business and trust among our stakeholders. We are setting up a target related to a good corporate governance for our next sustainability report. 11.2 ETHICS AND COMPLIANCE We have a zero-tolerance stance against fraud, bribery, and corruption. It is our policy to conduct all of our business in an honest and ethical manner, and we will not tolerate any acts of bribery and corruption. We are committed to acting professionally and ethically in all our business dealings and relationships and is committed to implementing and enforcing effective systems to counter bribery. Policies relating to anti-corruption and bribery is communicated to all our employees via the Employee Handbook. We also have in place a Whistle-blowing policy to ensure that there is a safe and confidential avenue for our employees and external persons to communicate and lodge an alleged incident. To safeguard the business against any potential risks, we conduct a Risk Assessment and Control Self-Assessment exercise which entails the identification, assessment and documentation of material risks and corresponding internal controls. Such material risks include fraud and corruption, environmental, health and safety, and human capital risks which are ESG-relevant. In FY2023, we recorded zero confirmed incidents relating to corruption. 11.3 ECONOMIC PERFORMANCE We create financial value and sustainable business growth through our dedication to customer service and innovative products. Our main sources of revenue comes from our energy, infrastructure and mining and minerals sectors. FY2021 FY2022 FY2023 Gross revenue (SGD million) 3 443 510 638 Operating costs (SGD million)3 106 125 162 For more information relating to the Group’s economic performance, please refer to Financial Highlights and Operations and Financial Review section of our Annual Report. 3 All figures provided only pertain to the entities scoped into the report and not the whole Group.
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