Annual Report 2019

FAR EAST CONSORTIUM INTERNATIONAL LIMITED 62 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT Materiality Assessment Stakeholder engagement allows the Group to better understand needs and expectations of our different stakeholders. In FY2019, the Group conducted a stakeholder engagement survey to collect opinions from both internal and external stakeholders for determining the relative materiality on various ESG issues. Phase Actions 1. Identifying relevant issues We conducted a review of existing and previous engagement results and made reference to global sustainability issues as well as local and international reporting standards. 18 relevant issues were identified by the review, covering Environmental, Employment and Labour Practices, Operating Practices and Community Investment. 2. Collecting stakeholder feedback We collected feedback and assessed materiality of each relevant issue with our internal and external stakeholders of three business units (namely Property Development, Hotel and Car Park) through different engagement activities, including interviews and surveys. 769 valid questionnaires were received and analysed to develop the materiality matrix. Compared with the stakeholder engagement survey conducted in FY2018 • Survey response rate increased by 28% • Expanded the scope to Car Park 3. Identifying material issues The materiality of each relevant issue was assessed by taking into account its importance to the stakeholders and our impact in relation to the issue. Based on the survey results, a materiality matrix was developed. Out of 18 issues, 10 were prioritised as material issues. 4. Validation The materiality matrix was presented to the ESG Committee for review. The 10 material issues were validated to be priority issues for us to address and report on.