Social Impacts: People
Social Impacts: Clients and Suppliers
Social Impacts: Community
Responsible Governance
CEO Message
Approach to Sustainability
Environmental Stewardship
Appendices
About This Report
About Kum Shing
Risk Management
Risk Management Framework
We incorporate sustainability considerations into our risk management framework. This integration will enable us to better identify, assess and address sustainability-related risks and opportunities, enhancing our ability to respond to emerging challenges while strengthening overall business resilience.
Effective risk management is a foundation of good corporate governance and the long-term growth and success of the Group. The risk management framework and procedures are overseen by the GEMC. At the strategic level, macro risks are identified and evaluated, while the risks associated with health, safety and environment are specifically monitored at the operational level.
Material Risks
The following table provides an overview of the key risks for the Year, and how we manage the risks.
Regulatory Compliance
Technology and Innovation
Risk Description
Key Mitigations
Risk Description
Key Mitigations
Non-compliance with the latest changes in applicable laws and regulations where we operate may result in penalties, claims or reputational damage.
• Regularly review applicable laws and regulations to stay informed about current and upcoming changes • Keep all relevant parties informed of the latest changes in statutory and regulatory requirements through regular meetings, discussions and communications • Provide periodic training to Business Line Department Heads and Project Managers on project-specific regulations and compliance requirements • Obtain relevant certifications, such as ISO standards, to demonstrate commitment to compliance and sound practices in certain areas
Inability to align technical and innovation capabilities with current market needs, coupled with ineffective development and implementation of technological solutions for services, potentially reducing productivity and competitive advantages and limiting business opportunities.
• Conduct market research and participate in industry exchange initiatives to ensure technological adoptions align with current and emerging market demands • Foster information exchange and provide training opportunities to keep staff updated on the latest technological advancements and market trends
Climate Change
New Client
Risk Description
Key Mitigations
Risk Description
Key Mitigations
Increased frequency and severity of extreme weather events, such as heatwaves, storms, floods, due to climate change, potentially creating unfavourable and hazardous working conditions, and causing disruption of normal business operations, reduced productivity and potential damage to infrastructure and equipment.
• Establish and regularly update guidelines and work plans for various adverse weather scenarios at corporate and project levels • Educate staff and workers on recognising signs of heat-related illnesses, proper use of protective equipment and emergency procedures during extremely hot weather or other extreme weather events
Risk of delayed or inadequate response to new client requirements and expectations during the initial onboarding, potentially impacting client satisfaction, overall experience and retention.
• Conduct a detailed study to identify specific client requirements during the tendering phase • Develop a custom mobilisation plan at Director-in-charge level to handle new client requests and meet their expectations • Establish clear communication channels and maintain close contact with new clients to ensure their inquiries and requirements are promptly addressed • Regularly collect and act on client feedback to identify and address any issues that arise during the onboarding process
27 KUM SHING SUSTAINABILITY REPORT 2024/25
KUM SHING SUSTAINABILITY REPORT 2024/25
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