FGV Annual Report 2017

FELDA GLOBAL VENTURES HOLDINGS BERHAD 2 ABOUT THIS REPORT Thi s Annual Integrated Report (AIR) for the year ended 31 December 2017 i s a tangible representat ion of our leadership’s sure and steadfast stance in integrat ing our Group’s st rategy development wi th good bus iness management and report ing pract i ces . Thi s helps to ensure that our resources are put to good use to maximi se our creat ion and del ivery of value. Our integrated approach to business management, guided by our Strategic Plan (SP20 (V2)), means that the interests and concerns of our key Stakeholders and our responses to these are discussed at the appropriate junctures throughout our report. This AIR provides our Stakeholders with pertinent information about our medium and long-term strategic directions, thus making them suitably equipped to make informed decisions about the health of our business operations. To do this, we follow closely the International Integrated Reporting Council’s (IIRC) Framework. We also strive to align our reporting processes and publications with the reporting requirements of the Malaysian Code on Corporate Governance 2017 (MCCG 2017), Main Market Listing Requirements (MMLR) of BursaMalaysia Securities Berhad and Sustainability Reporting Guidelines of the Global Reporting Initiative (GRI). OUR REPORTING SCOPE AND BOUNDARIES This AIR seeks to present comprehensive and detailed information on the performance of the value-creating activities within our reporting boundaries. In setting our reporting boundaries, we have considered impacts, which resulted from operations within our Group’s structure and its associated companies as well as from outside the organisation.While we seek to establish consistent boundaries for reporting across all of our business performance metrics, we do report on developments, impacts and data outside our reporting boundaries should these be highly material to our business performance. In the context of this AIR, “outside of the organisation” refers to our suppliers, where we do not own the assets and do not directly engage or employ workers, and where we do not operate the assets under a contractual obligation. “Within the organisation”, on the other hand, means all operations and entities which our Group has a controlling interest in and which are under our management, in terms of a contractual obligation. The information in this AIR covers the 2017 financial year (1 January 2017 to 31 December 2017) and encompasses all business operations of Felda Global Ventures Holdings Berhad (FGV), which includes operations over which we have full control, as well as all subsidiaries and leased facilities unless stated otherwise. All significant items have been reported on a like-for-like basis; no major restatements were performed. This AIR should be read together with the information available on our website www.feldaglobal.com for a comprehensive overview of the Group. HOW WE DETERMINE MATERIALITY We take proactive steps to ensure our AIR provides a balanced, accurate and comprehensive assessment of our strategy, performance and prospects in response to material matters in the financial, social, economic, governance and environmental spheres. We have in the year under review conducted a Materiality Assessment with the assistance of independent consultants (this is the second assessment of this nature after the first one conducted in 2015). This assessment engaged internal and external Stakeholders to solicit feedback on our Group’s material matters, and involved a review of our Materiality Matrix to identify factors impacting our delivery of value. Additionally, the issues and developments covered in this AIR were determined by a range of considerations, such as quantitative and qualitative considerations, matters that could impact our ability to achieve our strategic objectives and remain sustainable, issues discussed in reports presented to our Board of Directors, risks reported and our key Stakeholders’ interests. Other factors with material impact on the socioeconomic landscape of the countries and regions in which we do business were also considered. www.sc.com.my www.bursamalaysia.com www.globalreporting.org www.feldaglobal.com An update to the Materiality Matrix is disclosed in the section ‘Assessing Our Material Matters’ on pages 13-15.