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Stakeholder Engagement Policy

 

 

Commitment

  • Stakeholders are internal and external parties that have a material direct or indirect impact on Prosperity REIT’s businesses. Our key stakeholders include, but are not limited to unitholders, tenants, business partners (such as vendors, service providers, suppliers etc.), community and employees.

 

  • With the evolving business environments, Prosperity REIT believes that communicate clearly, honestly and respectfully with our stakeholders allows us to better understand their concerns, and how we can better deliver our sustainability goals.

 

  • Given the diversity of our stakeholders, we are committed to engaging in timely and meaningful dialogue with our stakeholders. The following sections demonstrate our commitment in stakeholder engagement and the respective actions to be taken to maintain healthy and interactive relationships with stakeholders.

 

Approach

To better respond to stakeholders’ concerns, we have identified the objectives in engaging stakeholders, namely the key interests of stakeholders. The table below summarized the information as well as the methods of engagement:

Objectives in engaging stakeholders

Key interests of stakeholders

Methods of engagement

Unitholders

  • To provide unitholders with relevant and timely information
  • To keep shareholders and the investment community informed at all times
  • To ensure corporate image upkeep, thereby minimizing any reputational risk
  • To enhance and deepen the trust placed in us and our brand

 

  • Good corporate governance
  • Performance of assets
  • Timely and transparent reporting on financial and non-financial performance
  • Gain insight into our strategy and management

 

  • Robust combination of face-to-face, written and broadcast communications, including general meetings and seminars, Results briefings, corporate website, investor conferences/ meetings, property tours
  • Regular Unitholder Reports and Sustainability Reports
  • Newsletters

Tenants

  • To better understand their business needs and concerns
  • To seek suggestions and inputs to improve footfall
  • To provide a comfortable and safe environment
  • To create awareness of our integrated sustainability commitment and initiatives
  • Market rentals
  • Good property maintenance
  • Occupational health and safety
  • Shoppers’ traffic (for retail)
  • Mall publicity (for retail)
  • Tenant Satisfaction Surveys with action plans for improvement
  • Enquiries and feedback channel
  • Meetings and discussions
  • Promotional activities
  • Mingling events (e.g. sport fun day, seasonal promotion events)

 

Vendors/ Service Providers/ Suppliers

  • To better understand their business needs and concerns
  • To obtain suggestions and inputs from them to improve the procurement process
  • To create awareness of our integrated sustainability commitment and initiatives
  • Pricing and product/services delivery
  • Occupational health and safety
  • Compliance with required regulations
  • Suppliers Assessment and Feedback
  • Safety briefings and declarations
  • Meetings
  • Site visits

Community

  • To better understand their aspirations and needs
  • To create partnerships that serve to facilitate our integrated sustainability activities
  • To create awareness of our integrated sustainability commitment and initiatives
  • Developing impactful programs that drive community development
  • Impact of our activities on the environment and society
  • Improve community involvement experience based on feedback and suggestions received
  • Community work, sponsorships/ donations, learning program, media engagement, and volunteering activities

Employees

  • To ensure that we remain as employer of choice, providing a safe, positive and inspiring working environment
  • To understand and respond to the needs and concerns of our employees
  • To provide employees with strategic direction and keep them informed about group activities
  • Career progression and remuneration
  • Improve their working environment experience as well as the performance of our business
  • Occupational health and safety
  • Robust combination of face-to-face, written and formal communications.
  • Employee satisfaction surveys and internal communication channels with action plans for improvement
  • Training and development programs/ Corporate training
  • Cohesion activities (e.g. annual spring dinners, team-building activities)
  • Annual performance review
  • Staff engagement events (e.g. spring dinner, volunteering work)

 

Implementation and Review

  • The Sustainability Steering Committee is responsible for the oversight of this Policy with the assistance of the Environmental, Health & Safety (EHS) & Supply Chain Management Task Group, Community Affairs Task Group and Employee Relation Task Group, as well as the Sustainability Working Groups for the implementation.

 

  • The implementation progress, status, and related performance of this Policy will be reported in our environmental, social and governance (ESG) Report on an annual basis.

 

  • This Policy will be reviewed by Sustainability Steering Committee from time to time and update the content as appropriate.

 

 

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