RENAISSANCE UNITED LIMITED Content
- Our business
- Board statement
- Reporting framework
- Reporting period and scope
- Feedback
6 Stakeholder engagement
- Policy, practice and performance reporting
- Material factors
9 Supporting the UN Sustainable Development Goals
10 Sustainability trends
Renaissance United Limited | Sustainability Report FY2022 |
1. Our business
We are an investment holding company with a diversified portfolio of strategic investments. Our investment portfolio comprises strategic stakes in various key sectors as follows:
- Supplying gas to households, commercial and industrial users in the People's Republic of China ("Gas Distribution Business");
- Specialising in Burn-in Board design and manufacturing for the semiconductor industry ("Electronics and Trading Business"); and
- Real estate residential development in the United States of America ("Property Development Business").
Our geographical presence is as follows:
The supply chain for our revenue streams are as follows:
Gas Distribution Business
Supplier
Sourcing
- Procures compressed natural gas and liquefied natural gas from major local gas suppliers
- Procures pipes, valves, gas meters and other materials to develop pipeline network
Customer
Installation, connection and distribution
A last-mile natural gas pipeline network is built to connect our residential and industrial customers to the national pipeline network
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Renaissance United Limited | Sustainability Report FY2022 |
Electronics and Trading Business |
Supplier
Sourcing
-
Procures consumables and
othersemiconductor components -
Sources for test and measurement equipment from manufacturers in United States of America ("USA"), United
Kingdom, Japan, and Taiwan - Sources for sockets from customers (on consignment basis)
Property Development Business
Manufacturing | Customer | ||
Manufacturing | Point of sale | ||
Design and assembly of ▪ | Sale of burn-in boards to | ||
burn-in boards based on | semiconductor | related | |
customers' specifications | companies | ||
▪ | Provision | of | consultancy |
services |
- Acts as agent and distributor for sale of semi-conductor back- end equipment such as vision inspection systems and test systems
Service provider
Sourcing
Sources for professional service providers such as engineers and consultants
Development | Customer |
Development | Point of sale |
Develops and obtains | Sale of developed property to |
approval for the site | home builders who will construct |
plan | the properties before selling to |
end customers |
2. Board statement
We reaffirm our commitment to sustainability with the publication of our sustainability report ("Report"). For this Report, we provide insights into the way we do business, while highlighting our environmental, social, governance ("ESG") factors, economic performance and customer experience (collectively as "Sustainability Factors").
Whilst mindful of our profit-oriented objective, we are committed to strike a balance between growth, profit, governance, environment, the development of our people and well-being of our communities to secure the long-term future of Renaissance United Limited (the "Company") and its subsidiaries (the "Group"). The Board having considered sustainability issues as part of its strategic formulation, determined the material Sustainability Factors and overseen their management.
In line with our commitment to sustainability, the Board emphasises on improving our corporate governance practices across the Group.
A sustainability policy ("SR Policy") covering our sustainability strategies, reporting structure, materiality assessment and processes in identifying and monitoring material Sustainability Factors has been put in place. This SR Policy serves as a point of reference in the conduct of our sustainability reporting. Under this SR Policy, we will continue to monitor, review and update our material Sustainability Factors from time to time, taking into account the feedback that we receive from our engagement with our stakeholders, organisational and external developments.
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Renaissance United Limited | Sustainability Report FY2022 |
Our sustainability framework communicates our commitment towards supporting the United Nations' Sustainable Development Goals ("SDGs" or "Global Goals") and is primarily driven by the concerns of our key stakeholders. We work closely with stakeholders in our value chain and their inputs drive our sustainability focus on our material Sustainability Factors and the SDGs as follows:
A summary of our key sustainability performance is as follows:
Sustainability | Performance indicator | Sustainability performance | ||||||||||||||
factor | ||||||||||||||||
FY2022 | FY2021 | |||||||||||||||
Customer | Market standards adopted | The Electronic and | The Electronic and | |||||||||||||
experience | Trading Business is | Trading Business is | ||||||||||||||
certified under the | certified under the | |||||||||||||||
ISO 9001: 2015 | ISO 9001: 2015 | |||||||||||||||
Employee's turnover rate | 8% | 9% | ||||||||||||||
Economic1 | Turnover | S$70.3 million | S$72.6 million | |||||||||||||
Loss for the financial year | S$18.7 million | S$4.8 million | ||||||||||||||
Environmental | Water consumption intensity | (CuM/ | revenue | 0.014 | 0.013 | |||||||||||
S$'000) | ||||||||||||||||
Greenhouse gas ("GHG") emissions | (tonnes | 906 | 844 | |||||||||||||
CO2e) | ||||||||||||||||
GHG emissions intensity (tonnes CO2e/ number of | 3.0 | 2.7 | ||||||||||||||
employees) | ||||||||||||||||
Social | Number of workplace fatalities | - | - | |||||||||||||
Number of high-consequence | 2 work-related | - | - | |||||||||||||
injuries | ||||||||||||||||
Number of recordable work-related injuries | - | - | ||||||||||||||
Number of work-related ill health cases | - | - | ||||||||||||||
Number of reported incident of unlawful | - | - | ||||||||||||||
discrimination3 against employees | ||||||||||||||||
Governance | Number of serious offence4 reported | - | - |
- Economic performance is extracted from the full year results announcement released on 31 August 2022. The figures are subject to statutory audit and will be finalised in the Annual Report 2022 and circulated to shareholders before the forthcoming annual general meeting ("AGM"). As stated in the announcement released on 11 October 2022, the Company needed an extension of time to hold its AGM for FY2022 owing to the determination by the ACRA that the requirements of the accounting standard under SFRS (I) INT 12 applied to its gas distribution business in China. As a consequence, the Company needed to make certain restatements and reclassifications to its financial statements for FY2022 and part of its financial statements for FY2021.
- High-consequencework-related injuries refer to injuries from which the worker cannot recover or cannot recover fully to pre-injury health status within 6 months.
- Unlawful discrimination refers to an incident whereby the relevant authority has commenced investigation and resulted in a penalty to the Group.
- A serious offence is defined as one that involves fraud or dishonesty amounting to not less than S$100,000 and punishable by imprisonment for a term of not less than 2 years which is being or has been committed against the Group by officers or employees of the Group.
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Renaissance United Limited published this content on 03 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 November 2022 05:01:06 UTC.
