Delivering and Deriving Value
Customers
An Unwavering Focus
Our vision is driven by the aspirations of our customers. We place them at the very heart of our enterprise. As a Group with a heritage of innovation, we make it a mindset to understand the hidden and unarticulated customer need, involve everyone in the process, experiment, learn what works and what doesn’t and deliver on our promise. In short, we regard ourselves as a provider of solutions rather than mere products and services.
Customer profile
We have a diverse customer base, both local and foreign, spread across manufacturing, agriculture and services. Our matchless quality and excellent customer service standards have enabled us to maintain long-term customer relationships, while gaining over 550 new business customers during the year. A cross section of our customer base across business sectors are presented below.
Manufacturing
The Fibre sector acquired nearly 60 new B2B customers during the year under review, mostly in overseas markets. With customer relationships lasting typically 2 - 15 years the sector continually seeks new customers while strengthening its top 10% core holding which accounts for about 60% of sales.
The average length of relationships with the top five customers in the Textiles sector is nine years, while two new customers were added during the year. The relationship with MAS Intimates, Crystal Martin and Jay Jay mills has a very rich history lasting over a decade.
The Construction Materials sector won nine local and three overseas customers during the year, bringing the total to over 150 relationships that have lasted over 15 years on average.
Agriculture
With nearly 5,500 B2B customers, 181 of whom were acquired during the year, the Agriculture sector enjoys relationships that last 15 years on average.
The Plantations sector won 12 new customers during the year, bringing the total to 88 relationships that on the average lasts six years.
Services
Transportation & Logistics saw an unprecedented 250 new relationships being established during the year, with core customers averaging a 10-year period of doing business with the sector.
Leisure & Aviation enjoys a B2B customer base of 510 in hospitality and another 740 in Aviation. The top 10% in hospitality account for only one-third of sales, indicating a wide customer base and low concentration risk.
With an average 10-year relationship, the Consumer Products sector enjoys a 70,000-retail outlet base. This sector too has a well dispersed customer base with the top 10% accounting for about a third of sales.
Power and Energy has over 250 customers, with relationships lasting 10-15 years, while Investment & Services, which has a much shorter period of customer relationship won over 50% of its customer base during the year under review.
Product and Service Information
The safety of our products and services is of utmost importance to us. We provide assurance on the safety and ethics behind our products, and ensure that our customers know that they are choosing the most optimal combination of safety and efficacy when buying a Hayleys product.
Our product and service labelling serves to educate people about the benefits of our products and also impart information to customers. Information pertaining to sourcing components, content - particularly with regard to substances that might produce an environmental or social impact, safe use of the product or service and environmental/social impacts of disposal is displayed on the label. All agriculture fertilizer products, and pesticides in particular, display poison warnings and safe storage instructions. Veterinary products and pesticides carry instructions on safe application procedures and antidotes in case of contamination/consumption and also poison centre contact details, amongst others.
Hayleys Agriculture complies with plant quarantine procedures for import and export of plants.
Marketing Communications
We communicate with our customers largely through advertising. We adhere to laws, standards and voluntary codes related to marketing communications, including advertising, promotion and sponsorship. Compliance includes obtaining prior approval from relevant authorities and adhering to all guidelines of our principals and the Consumer Affairs Authority in ensuring that all claims made by us are true and verifiable.
Compliance
The Group has not been informed of or has pursued any action where any fines were imposed in relation to non-compliance with laws and regulations related to the provision and use of our products and services.
