TABLE OF CONTENTS
BOARD STATEMENT | 2 |
ABOUT THIS REPORT | 3 |
ABOUT THE GROUP | 4 |
OUR SUSTAINABILITY APPROACH | 6 |
OUR STAKEHOLDERS | 8 |
MATERIALITY ASSESSMENT | 9 |
PATIENT'S PRIVACY | 10 |
EMPLOYMENT | 11 |
ECONOMIC PERFORMANCE | 15 |
TCFD REPORT | 18 |
GRI CONTENT INDEX | 25 |
TCFD CONTENT INDEX | 27 |
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BOARD STATEMENT
Dear Stakeholders,
On behalf of the Board of Directors and Management of HC Surgical Specialists Limited ("HCSS" and its subsidiaries, the "Group"), I am pleased to present our seventh annual Sustainability Report for the financial year ended 31 May 2024 ("FY2024"). This Report reaffirms our unwavering commitment to integrating environmental, social, and governance ("ESG") principles into every aspect of our operations.
Throughout FY2024, we have continued to prioritise sustainability, ensuring that our business practices align with our long-term strategic goals and the expectations of our stakeholders. The Board has worked closely with senior management to identify and manage key ESG factors that could impact our business. We have made significant strides in enhancing our sustainability practices, including achieving the Data Protection Trustmark Certification and expanding our service offerings with the opening of two new orthopaedic centres.
As we move forward, we remain committed to embedding sustainability into our core business practices, promoting environmental stewardship, workplace inclusivity, and responsible governance. Our efforts are aimed at not only improving patient care but also ensuring that we contribute positively to the community and the environment.
We would like to extend our heartfelt thanks to all our stakeholders for their continued support. Together, we are building a sustainable future, enhancing lives, and fostering a resilient and prosperous environment for future generations.
Mr. Chong Weng Hoe
Non-Executive Chairman and Independent Director
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ABOUT THIS REPORT
This Sustainability Report showcases the progress we have made in our sustainability efforts during the financial year beginning 1 June 2023 and ended 31 May 2024 ("FY2024"). Prepared in accordance with Rules 711A and 711B of the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual Section B: Rules of Catalist (the "Catalist Rules"), it also follows the SGX-ST's Practice Note 7F Sustainability Reporting Guide.
Reporting Framework
We have also prepared this Report with reference to the latest Global Reporting Initiative ("GRI") Standards, our preferred framework due to its international recognition, wide adoption, and suitability for our business model. All GRI reporting principles, including accuracy, balance, clarity, comparability, completeness, sustainability context, timeliness, and verifiability, have been applied in the preparation of this Report. Going forward, where relevant, we will gradually incorporate the recommendations of the Task Force on Climate-related Financial Disclosures ("TCFD") for climate-related financial information.
External Assurance
To ensure the accuracy of the data and information presented, we have relied on internal verification and engaged internal auditors to review our sustainability reporting processes. In the future, we may also seek external independent assurance to further enhance our sustainability reporting practices.
Hardcopies of the Sustainability Report will be mailed to shareholders. Electronic version of the report can also be found on our website at https://www.hcsurgicalspecialists.com/as well as SGX-ST's website, at www.sgx.com.
Feedback
We are dedicated to listening to our stakeholders and welcome any feedback and suggestions regarding the contents of this Report at contact@hcsurgicalspecialists.com.
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ABOUT THE GROUP
HC Surgical Specialists Limited ("HCSS" and its subsidiaries, collectively the "Group") is a medical services group focused on providing endoscopic procedures, such as gastroscopies and colonoscopies, as well as general surgery services, with a focus on colorectal procedures, across a network of clinics throughout Singapore.
Founded nearly a decade ago, HCSS aims to make private healthcare accessible to the widest consumer base possible. With the support of a team of experienced specialists, we operate 18 clinics conveniently located near public transportation. Our endoscopy clinics are accredited by MediSave and MediShield Life, which enhances the services available to our patients. We consistently renew our leases and seek new locations that can add value to our Group and improve accessibility.
In addition, the Group has expanded its range of services to include orthopaedics in FY2024 and has two orthopaedic clinics within the Group, with a third orthopaedic clinic that was opened in June 2024. The Group's three orthopaedic specialists can also use the existing endoscopy clinics for their consultations.
Our Group's medical clinics and facilities are as follows:
As a public company limited by shares, our registered office is located at 9 Raffles Place, #26-01 Republic Plaza, Singapore 048619.
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ABOUT THE GROUP
As of 31 May 2024, our Group Structure is as follows:
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OUR SUSTAINABILITY APPROACH
Our board members and senior management work together closely on all sustainability issues. With their extensive expertise and experience, they contribute significantly to our discussions and decision-making processes. The board and its sub-committees include the following personnel, each of whom plays an active role in overseeing ESG-related matters. Additionally, all members had fulfilled SGX's requirement of completing mandatory sustainability training in FY2023.
Board of Directors
Audit & Risk | Nominating | Remuneration | ||||||||||
Name | Designation | Management | ||||||||||
Committee | Committee | Committee | ||||||||||
Mr. | Chong | Non-Executive | ||||||||||
Chairman | and | Member | Chairman | Chairman | ||||||||
Weng Hoe | Independent Director | |||||||||||
Dr. | Heah | Executive | Director | |||||||||
and Chief | Executive | - | - | - | ||||||||
Sieu Min | Officer | |||||||||||
Dr. Chia Kok | Executive | Director | - | - | - | |||||||
Hoong | and Medical Director | |||||||||||
Mr. | Lim | Non-Independent | ||||||||||
Chye | Lai, | Non-Executive | Member | Member | Member | |||||||
Gjan | Director | |||||||||||
Mr. Ooi Seng | Independent | |||||||||||
Non-Executive | Chairman | Member | Member | |||||||||
Soon | Director | |||||||||||
The board's primary responsibilities and goals for advancing sustainability include:
- Setting the strategic direction for managing the Group's sustainability-related risks, opportunities, and impacts;
- Overseeing the Group's ESG performance and participating in discussions regarding the acquisition of new clinics or the hiring of new doctors; and
- Evaluating the adequacy and effectiveness of the Group's internal controls and risk management systems.
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OUR SUSTAINABILITY APPROACH
Guided by the Board, senior management is primarily tasked with overseeing our sustainability performance throughout the year, implementing new policies and practices, and providing regular updates to the Board. This direct communication channel between senior management and the Board ensures that our sustainability initiatives remain aligned with our business objectives. The senior management team of HCSS includes the following members:
Senior Management | ||
Name | Designation | |
Ms. Sophia Ong | Chief Financial Officer | |
Ms. Melissa Susantio | Chief Operating Officer | |
Ms. Lee Hui Theng | Chief Nursing Officer | |
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OUR STAKEHOLDERS
To deliver enduring value for our stakeholders, we emphasise a comprehensive approach to sustainability. By maintaining transparent communication with all stakeholder groups, we align our sustainability initiatives with their needs and expectations. The table below details our engagement activities with both internal and external stakeholders, aimed at strengthening these relationships.
Stakeholder | Engagement Activities | Our Commitments | |||||||||||||
Groups | |||||||||||||||
ƒ | Training programmes | We aim to maintain a safe and fair | |||||||||||||
working | environment | for | our | ||||||||||||
ƒ | Annual appraisals | ||||||||||||||
Employees | employees, | while | also | providing | |||||||||||
ƒ | Staff meetings | ||||||||||||||
them with opportunities for career | |||||||||||||||
ƒ | Yearly staff retreat | ||||||||||||||
progression and self-development. | |||||||||||||||
Patients | ƒ | Direct feedback during | We strive to provide our patients | ||||||||||||
consultations | with quality healthcare services at | ||||||||||||||
their ease and convenience. | |||||||||||||||
ƒ | WhatsApp feedback | We | maintain a | close | working | ||||||||||
relationship | with | our suppliers to | |||||||||||||
ƒ | Email feedback | ||||||||||||||
Suppliers | ensure the quality and timely, | ||||||||||||||
ƒ | Visits | by | sales | ||||||||||||
representatives | efficient | delivery | of | our | procured | ||||||||||
goods. | |||||||||||||||
ƒ | Annual | and | |||||||||||||
Shareholders | extraordinary | general | We seek to grow our business and | ||||||||||||
meetings | achieve sustainable returns for our | ||||||||||||||
& Investors | ƒ | Corporate | |||||||||||||
shareholders and investors. | |||||||||||||||
announcements | |||||||||||||||
ƒ | Emails | ||||||||||||||
Our goal is to better understand how | |||||||||||||||
Government | ƒ | Discussions | government initiatives would impact | ||||||||||||
ƒ | Conferences | us | and | to | align | our | business | ||||||||
& Regulators | |||||||||||||||
ƒ | Feedback sessions | outcomes | with | national | health | ||||||||||
objectives. | |||||||||||||||
We hope to support the community | |||||||||||||||
Community | ƒ | Corporate website | by engaging in corporate social | ||||||||||||
responsibility efforts. | |||||||||||||||
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MATERIALITY ASSESSMENT
Drawing on feedback from both internal and external stakeholders, we have assessed and prioritised various ESG topics crucial to our organisation and its stakeholders. To ensure these topics align with our business goals and stakeholder expectations, we review them annually.
In FY2024, we have conducted a stakeholder engagement survey to reassess the material topics relevant to our business. The Board has deliberated the results of the survey and the following material topics were concluded to be material to the Group this year:
List of Material Topics for FY2024
Patients' Privacy
Employment
Economic Performance
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