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Financial Reports &
Governance Other Information HENGYUAN REFINING COMPANY BERHAD l ANNUAL REPORT 2023 9

LOCAL COMMUNITIES ECONOMIC
HRC remains steadfast in its commitment to being Long-term profitability is essential to achieve our
a conscientious neighbour, consistently striving to business goals and to assure our continued growth.
enhance the well-being of the communities in which we It is a measure of both efficiency and the value
operate. We meticulously manage the social implications customers place on HRC’s products and services.
of our business activities, focusing on maximising It underpins the necessary corporate resources for the
positive outcomes and minimising any adverse effects. continuing investment that is required to develop and
produce future energy supplies to meet customer needs.
Aligned with global sustainability standards,
we prioritise environmentally responsible practices Without profits and a strong financial foundation,
within our refinery operations. Through a focus on it would not be possible to fulfil our responsibilities.
energy efficiency and eco-friendly initiatives, we actively Criteria for investment and divestment decisions
work towards reducing our carbon footprint and include sustainable development considerations
contributing to a healthier local environment. (economic, social and environmental) and an appraisal
of the risks of the investment.
Our collaboration with diverse stakeholders amplifies
the positive impact of our operations as we actively
participate in community development initiatives. COMPLIANCE
Recognising that our commitment extends beyond We comply with all applicable laws and regulations of
economic value creation, we actively support essential Malaysia, and the countries where we have business
community services.
dealings.
Acknowledging our role in societal matters, we
uphold transparent governance practices and ethical POLITICAL ACTIVITIES
decision-making, ensuring that our operations adhere
to the highest standards of integrity. This approach A. Of Company
fosters trust and accountability among our stakeholders. HRC operates with a strong commitment to social
HRC strongly believes in transparency and responsibility and compliance with the laws of
accountability, consistently reporting on our Malaysia and the countries with which we engage.
performance. Our holistic approach seamlessly In pursuit of our legitimate commercial objectives,
integrates social and environmental considerations HRC upholds the principle of non-participation in
into our strategy, underscoring our dedication to party politics and refrains from making payments
being a positive force for sustainable development in to political parties, organisations, or their
Port Dickson and its surrounding areas. representatives. When engaging with governmental
entities, HRC exercises its right and responsibility to
communicate our position on matters that impact
COMPETITION us, our employees, customers, shareholders, and
HRC supports free enterprise. We seek to compete local communities. This communication is guided
fairly and ethically and within the framework of by our core values and General Business Principles,
applicable competition laws; we will not prevent others ensuring ethical conduct.
from competing freely with us. B. Of Employees
In line with our dedication to community
COMMUNICATION AND ENGAGEMENT engagement, HRC supports and encourages
employees to participate in community activities,
HRC recognises that regular dialogue and engagement fostering a sense of responsibility and well-being.
with our stakeholders are essential. We are HRC respects the rights of our employees to
committed to reporting our performance by providing make personal choices, including engaging in civic
full relevant information to legitimately interested activities or standing for election to public office,
parties, subject to any overriding considerations as deemed appropriate and in accordance with
of business confidentiality. In our interactions with applicable laws and regulations.
employees, business partners and local communities,
we seek to listen and respond honestly and responsibly. This commitment reflects HRC’s values and
underscores our ongoing efforts to ensure a
positive impact on the communities we serve.