We define any individual or a group that could be significantly impacted by our actions, products, or services as stakeholders. We know that our stakeholders’ insights and behaviour can have a considerable impact on our capacity to meet our strategic goals.
Identifying our stakeholders and engaging successfully with key stakeholder groups help us better understand and address their concerns while effectively balancing the distribution of value created.
Formal and informal mechanisms are in place to connect with our stakeholder groups as shown below.
Key stakeholders | Method | Frequency | Material issues/Concerns |
Investors |
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Employees |
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Customers |
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Government, Statutory and Regulatory Bodies |
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Business Partners |
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Society |
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Every member of Sunshine Holdings shares the responsibility of engaging with stakeholders at every contact point. Such engagement gears us for the future, powers innovation, and gains us vital insights for our strategic planning process.
As a responsible corporate citizen, our strategy centres on creating value: delivering value to stakeholders and, in turn, deriving value from them. To create value in a responsible manner, we endeavour to understand the needs of the stakeholder against the overarching trends that impact our operations as outlined on page 18 under “Implementing strategy” and on page 70 under “Future outlook”.
Matters that were material to the Company – those that significantly impact our ability to create value over the short, medium and long term – were mapped according to their impact on stakeholders and the Company itself. The materiality of each topic is determined by its relevance, the magnitude of its impact, and the probability of occurrence. These matters were then categorised as risks, opportunities or both.
Following this study, we identified four strategic imperatives, as described on page 19 required to capitalise on opportunities, mitigate risks, and continue our value creation journey.
Our material topics are managed through our strategic planning process. We assign responsibility to the relevant business heads and allocate resources as required based on the significance of each material topic towards achieving our strategic imperatives.
Goals and targets, where relevant, are embedded into the KPIs of the Key Management Personnel to ensure that the Organisation achieves its objectives with regard to its material topics. These are reviewed at regular intervals.
Our people are guided by a number of policies designed to foster an environment where activities are conducted in a responsible, transparent, and ethical manner in managing the material topics. These policies are duly adopted by the Board of Directors and are reviewed regularly to ensure that the Company remains abreast of trends in the changing environment.
Where relevant, grievance mechanisms are in place with assigned responsibility to the relevant divisional heads to manage, address and resolve the same.
Internal and external audits are carried out to ensure that the stipulated internal controls, policies and procedures are adhered to. Results of these audits are reported to the Board of Directors and/or to the Management Committees on a regular basis for corrective action as needed.