Governing Our Core Principles

Our dedication to guiding the Group with a focus on sustainability establishes the groundwork for our ongoing journey. Sustainability is deeply integrated at all areas of our Group, shaping our governance, everyday activities, and business growth. By adopting ESG-driven governance, we strive for long-term value generation, which ensures the Group's resilience, sustainability, and ongoing success.

Of annual sustainability commitments achieved

Valid satisfaction surveys received from property owners, tenants and hotel customers

-Star

And Global Sector Leader in Global Real Estate Sustainability Benchmark (“GRESB”) 2024

In CDP's Climate Change Assessment 2024

Strengthening Our ESG Governance Structure

In our ongoing commitment to strengthening corporate governance, we were pleased to welcome two Independent Non-Executive Members who joined us on 1 August 2023. These appointments brought a wealth of experience and expertise to our Executive Committee, further reinforcing our dedication to maintaining the highest standards of governance. Their presence allowed for independent judgment and objective oversight, safeguarding the interests of stakeholders.

Striving towards Our Annual Commitments

At the beginning of the Reporting Period, our four ESG Sub-Committees set out 55 action items targeting a range of focus areas as our annual commitments. We eventually achieved an accomplishment rate of 90% for our annual commitments, reflecting significant progress compared to last year's rate of 79%. These sustainability commitments were cascaded to the relevant business units, encouraging employees at every level to contribute to achieving these goals. The Group's sustainability performance was regularly communicated to the ESG Steering Committee. To uphold a balanced emphasis on People, Community, Prosperity, and Planet, we continuously revise these annual commitments and introduce new ones when required.

Engaging Our Stakeholders and Assessing Double Materiality

Engaging with our stakeholders allows us to understand their expectations about our sustainability initiatives. It also enables us to identify key issues and assess the effectiveness of our sustainability actions.

Engaging Our Tenants and Customers

Recognising the vital role of our tenants and customers to our business success, we prioritise their timely feedback and overall satisfaction to ensure that we are continuously improving. To facilitate this, we regularly conduct tenant and customer satisfaction surveys to gather their insights. These surveys play a crucial role in highlighting their primary concerns, allowing us to improve our service standards.

Governing a Sustainable Supply Chain

Our dedication to sustainability reaches far beyond our internal operations. To align with our values, we have implemented a specific governance system that fosters collaboration with our value chain partners.

Upholding Business Ethics and Integrity

The Group highly values strong commitment on integrity and ethical conduct in every aspect of our business activities. Our well-established reputation for honesty, reliability, and fairness serves as a crucial asset that fosters our long-term growth and success. Our policies encompass a variety of important areas, including fair labour practices, conflicts of interest, bribery, competition and antitrust laws, privacy compliance, and equal opportunity. Every employee is expected to fully comply with these policies and to formally acknowledge their understanding in writing upon joining the company.

Enhancing Risk Management and Internal Control

Risk management is a fundamental component of the Group's operations at all levels. We emphasise the prompt identification and mitigation of risks, which serves as the cornerstone of our risk management strategy. Through a comprehensive framework, policies and procedures designed to protect both group and operational levels, we regularly conduct risk management workshops to ensure the principles of risk management are effectively communicated throughout the Group.