SUSTAINABILITY REPORT 2023

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WHO WE ARE

Kenanga Investment Bank Berhad is a leading, independent, Malaysian-based investment bank established in 1973. We have provided award-winning products and services to clients and businesses for more than five decades, through our wealth of experience in equity broking, corporate investment banking, treasury, Islamic banking, listed derivatives broking, asset and wealth management, and money lending.

  • Celebrated

    50 Years

    on 9 June 2023
  • Over

    500,000

    Clients
  • Over

    1,300

    Employees

  • 34

    Branches
  • Over

    6,500

    Licensed Representatives
  • Revenue

    RM 821.1 million

  • Profit Before Tax

    RM 88.1 million

  • Net Profit

    RM 72.8 million

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MESSAGE FROM LEADERSHIP

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CHAIRMAN’S MESSAGE
Q&A WITH OUR GROUP MANAGING DIRECTOR AND CHAIRMAN, GROUP SUSTAINABILITY MANAGEMENT COMMITTEE
CHAIRMAN’S MESSAGE
Q&A WITH OUR GROUP MANAGING DIRECTOR AND CHAIRMAN, GROUP SUSTAINABILITY MANAGEMENT COMMITTEE

  • TAN SRI DATO’ SERI SYED ANWAR JAMALULLAIL

    Chairman

    DEAR SHAREHOLDERS,

    I am pleased to share with you the Sustainability Report for 2023, which illustrates our ongoing dedication to environmental, social, and governance (“ESG”) initiatives and our progress toward fostering a sustainable future.

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  • DATUK CHAY WAI LEONG

    Group Managing Director
    Chairman, Group Sustainability Management Commitee

    With the development of a Sustainability Framework, Three Year Roadmap and Sustainability Goals in previous years, we were laser-focused on execution this year, bringing to life the plans and targets we have set in place. Within the organisation, we cascaded ESG-specific KPIs throughout the organisation, rolled out Sustainability Roadshows for employees, refined our whistleblowing policy, augmented our procurement policy and worked on a sustainability policy to ensure we have a strong foundation that paves way for our journey ahead.

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AN INSIGHT INTO OUR STAKEHOLDERS' PERSPECTIVES

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Those Whom We Are Accountable
Those Who We Collaborate With
Those Whose Lives We Enrich
  • Our Commitment
    • Ensure our investors and shareholders are kept abreast on how we embed ESG in our business strategy and operations
    • Incorporate feedback to create long-term, sustainable value for our stakeholders
    • Leverage innovation and technology to enhance the client experience
    How We Engage

    Shareholders

    • Provide updates and gather feedback through meetings, reports and disclosures

    Clients

    • Provide products, tools, education and insights through our trading platforms, mass media channels, events, emails, websites and social media channels
    • Respond to queries, as well as gather input and feedback via social media channels, helplines and email
    Areas of Interest
    • Cyber security and data protection
    • Portfolio performance
    • Financial inclusion
    • Financial literacy
    • Digitalisation
    • Responsible investing
    • New products and services
    • Market outlook
    • Enhanced client experience
  • Our Commitment
    • Create a safe, inclusive and high-performing work environment
    • Embed our values of ethics, integrity and compliance throughout the organisation, to lead a responsible business operation
    How We Engage

    Regulators

    • Participate in industry discourse and enforce adherence to regulations and policies

    Employees

    • Engage through internal policies, meetings, emails, dialogues, training programmes, special events and performance appraisals

    Remisiers and Agents

    • Engage through policies and procedures, training programmes and special events

    Vendors

    • Collaborate through meetings, policies and procedures
    Areas of Interest
    • Compliance culture
    • Cyber security and operational resilience
    • Training and development
  • Our Commitment
    • Create positive impact for communities in need through targeted social investments and employee volunteerism
    • Enhance the financial literacy of our communities to empower them to make decisions on their investments and financial resources
    How We Engage

    Community Partners

    • Contribute to various social causes, in particular towards social enterprises
    • Activate employee volunteerism and philanthropy

    Public

    • Disseminate investing knowledge via roadshows, social media channels and webinars
    Areas of Interest
    • Community empowerment
    • Financial literacy
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CONTRIBUTING TOWARDS UN SDGS AND UN GLOBAL COMPACT’S TEN PRINCIPLES

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  • SDGs Targets We Contribute Towards

    1.4 Equal rights to economic resources, as well as access to basic and financial services

    Relevant UNGC Principles

    Principle 1:

    Business should support and respect the protection of internationally proclaimed human rights

    Our Progress in FY2023

    • Donated over RM600,000 to community investments, positively impacting over 2,700 lives.
    • Provided consistent support to social enterprise partners, Dialogues Includes All Academy and Silent Teddies for 12 consecutive years.

  • SDGs Targets We Contribute Towards

    4.4 Increase the number of people with relevant skills for employment, decent jobs and entrepreneurship

    Relevant UNGC Principles

    Principle 1:

    Business should support and respect the protection of internationally proclaimed human rights

    Our Progress in FY2023

    • Participated in and organised 119 sessions (webinars, exhibitions, seminars and live series) for approximately 8,000 participants.

  • SDGs Targets We Contribute Towards

    5.5 Women’s full and effective participation and equal opportunities for leadership

    Relevant UNGC Principles

    Principle 6:

    The elimination of discrimination in respect of employment and occupation

    Our Progress in FY2023

    • 51% of our workforce and 38% of key/senior management are women.
    • Gender pay ratio averages 1:0.92 (men to women).

  • SDGs Targets We Contribute Towards

    7.2 Increase global percentage of renewable energy

    7.3 Double the global rate of improvement in energy efficiency

    Relevant UNGC Principles

    Principle 9:

    Encourage the development and diffusion of environmentally friendly technologies

    Our Progress in FY2023

    • Kenanga Tower wins ‘Energy-Efficient Retrofitted Building’ at National Energy Awards 2023

  • SDGs Targets We Contribute Towards

    8.5 Full and productive employment and decent work for all

    8.10 Expand access to banking, insurance and financial services for all

    Relevant UNGC Principles

    Principle 2:

    Make sure that they are not complicit in human rights abuses

    Principle 3:

    Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining

    Principle 4:

    The elimination of all forms of forced and compulsory labour

    Principle 5:

    The effective abolition of child labour

    Principle 6:

    The elimination of discrimination in respect of employment and occupation

    Our Progress in FY2023

    • Achieved zero workplace injuries.
    • Conducted three (3) mental health talks for employees in collaboration with Naluri, MiCare and Etiqa.
    • Reached over 23,000 users through our AI-based investing and savings platform, Kenanga Digital Investing (“KDI”).

  • SDGs Targets We Contribute Towards

    10.2 Social, economic and political inclusion for all

    Relevant UNGC Principles

    Principle 6

    The elimination of discrimination in respect of employment and occupation

    Our Progress in FY2023

    • Became a signatory of Women’s Empowerment Principles (“WEPs”).
    • Became an Official Partner of LeadWomen, a leading advisory and training organisation focused on nurturing an inclusive workplace culture.
    • Conducted a training for people managers on sexual harassment and anti-bullying by an external legal counsel
    • Recorded a total of 2,423 employee volunteering hours, with participation from 319 volunteers.

  • SDGs Targets We Contribute Towards

    11.6 Reduce the environmental impact of cities

    Relevant UNGC Principles

    Principle 8:

    Undertake initiatives to promote greater environmental responsibility

    Our Progress in FY2023

    • Continued to improve monitoring on waste management in line with Bursa Malaysia's reporting requirement.

  • SDGs Targets We Contribute Towards

    12.5 Significantly reduce waste generation

    12.6 Encourage companies to adopt sustainable practices and sustainable reporting

    Relevant UNGC Principles

    Principle 8:

    Undertake initiatives to promote greater environmental responsibility

    Our Progress in FY2023

    • Digitalised four (4) workflows under the iLeap project, reducing paper wastage and enhancing workflow efficiency with total of 69 workflows being digitalised since its inception.
    • Collaborated with environmental non-governmental organisations to encourage employees to participate in activities such as repurposing plastics, city clean up and plant adoption drive.
    • Recycled a total of 32,876kg, inclusive of general waste and e-waste

  • SDGs Targets We Contribute Towards

    13.2 Integrate climate change measures into policies and planning

    13.3 Improve human and institutional capacity on climate change

    Relevant UNGC Principles

    Principle 7:

    Businesses should support a precautionary approach to environmental challenges

    Our Progress in FY2023

    • Completed climate risk assessments for all of our existing corporate loans and private equity investments.
    • Achieved 393 employee enrolments in ESG-related training topics, such as ESG-related risks, climate change, with a total of 2,239.7 training hours recorded.

  • SDGs Targets We Contribute Towards

    16.4 Combat organised crime, illicit financial and arms flow

    16.5 Reducing all forms of corruption and bribery

    16.7 Responsive, inclusive, participatory and representative decision-making at all levels

    Relevant UNGC Principles

    Principle 10:

    Businesses should work against corruption in all its forms, including extortion and bribery

    Our Progress in FY2023

    • Conducted our 7th Fraud Awareness Week (“FAW”) campaign, engaging over 2,300 participants.
    • Collaborated with the Law Faculty of the University of Malaya on a Fraud Awareness talk session aimed at enhancing awareness of fraud prevention and detection.
    • Hosted the 8th Annual Regulatory Seminar Assessment, with over 1,100 enrolments and a total of 8,932 training hours registered.
    • Established a Scam Hotline to channel and manage all scam-related concerns.
    • Enhanced Group Whistleblowing Policy by replacing it with the Group Speak Up Policy, allowing employees to report concerns in good faith regarding behaviour, conduct, practices, actions or omissions that may be unlawful or not in line with the Group’s policies.

  • SDGs Targets We Contribute Towards

    17.16 Enhance partnership to mobilise technology and financial resources

    17.17 Encourage and promote effective public, public-private and civil society partnership

    Relevant UNGC Principles

    Principle 1:

    Business should support and respect the protection of internationally proclaimed human rights

    Principle 2:

    Make sure that they are not complicit in human rights abuses

    Principle 6:

    The elimination of discrimination in respect of employment and occupation

    Principle 7:

    Businesses should support a precautionary approach to environmental challenges

    Principle 8:

    Undertake initiatives to promote greater environmental responsibility

    Principle 9:

    Encourage the development and diffusion of environmentally friendly technologies

    Principle 10:

    Businesses should work against corruption in all its forms, including extortion and bribery

    Our Progress in FY2023

    • Strengthened key partnerships with the following entities:
      • Silent Teddies and Dialogue Includes All Academy for community outreach programmes.
      • UNGC to advance SDGs.
      • Association of Certified Fraud Examiners to organise the 7th FAW.
      • LeadWomen to promote workplace equality.
      • Ant Group for financial inclusion initiatives.
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OUR ESG FRAMEWORK

Sustainable Economic Growth

Sustainable Economic Growth

Integrate ESG factors into our business decisions and value chain and manage ESG risks and opportunities as we innovate to build a sustainable future.

Responsible Investment

Incorporate ESG factors into our investment processes, offer and promote sustainable products and solutions and take an active stewardship role in the companies in which we invest.

Digitalisation

Leverage technological advancements to develop secure, meaningful and innovative products and solutions that will help shape the future of investing.

UN SDGs

ENVIRONMENTAL STEWARDSHIP

ENVIRONMENTAL STEWARDSHIP

Promote climate positive culture within the organisation and relevant external stakeholders to attain a low carbon economy.

Climate Impact

Take ownership of climate risks and opportunities of our operations through monitoring environmental performance, identifying and practising behaviours to promote climate positive action and outcomes.

UN SDGs

EMPOWERING PEOPLE AND COMMUNITIES

Empowering People and Communities

Create a positive impact on our employees, clients, business associates, as well as communities in need.

Diversity, Inclusion and Wellbeing

Inculcate an equitable workplace culture that recognises the unique needs and contributions of employees and where employee rights, health, safety and wellness are promoted.

Community Investment

Enhance financial literacy for investors and the community through education. Reaching out to communities in need through targeted social investments and employee volunteerism.

UN SDGs

Good Governance

Good Governance

Lead a responsible business underpinned by a robust compliance culture and high levels of ethical standards

Good Business Conduct

Promote and embed good business conduct and high standards of integrity throughout the organisation, operate ethically and transparently and in compliance with applicable laws and regulations.

UN SDGs

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OUR SUSTAINABILITY PILLARS

GOOD GOVERNANCE

We remain cognisant of our responsibilities to our stakeholders, as we strive to raise the bar on good governance by incorporating ethical business practices throughout the organisation.

MATERIAL TOPICS:

Good Business Conduct
Regulatory Compliance
Goal 1

All material matters to be supported by adequate policies and procedures in line with best practices and regulatory requirements.

Goal 2

Lead industry fraud awareness through an interactive flagship programme.

UN SDGs

SUSTAINABLE ECONOMIC GROWTH

Our approach to integrating ESG considerations into our core operations, investing, and decision-making processes is a crucial component of our strategy to deliver innovative sustainable finance and investing products for our clients. We employ a multi-faceted approach to responsible investment, engaging in both product development and active management of the businesses in which we invest in.

MATERIAL TOPICS:

Responsible Investing
Digitalisation
Cyber Security
Client Experience
Goal 1

Increase support of sustainable economic activities.

Goal 2

Champion cloud-first strategy to increase scalability and flexibility.

Goal 3

Increase automation for productivity.

Goal 4

Increase digital distribution of products and services.

UN SDGs

ENVIRONMENTAL STEWARDSHIP

We are fully committed to promoting a climate-positive culture and reducing our carbon footprint. We recognise the urgency of the climate crisis and believe that we have a responsibility to take action. We integrate climate-related risk considerations into all aspects of our business operations and continuously seek ways to minimise our environmental impact.

MATERIAL TOPICS:

Climate Impact
Goal 1

Accelerate enterprise decarbonisation.

Goal 2

Build awareness, knowledge and skills needed to enable employees and stakeholders, to contribute positively to climate actions.

UN SDGs

EMPOWERING PEOPLE AND COMMUNITIES

We believe that our people are at their best when they feel a sense of belonging and are adequately supported by the organisation. We are committed to empowering our people to build their knowledge and expertise in an inclusive and healthy environment while extending our support in contributing to the growth and resilience of our communities.

MATERIAL TOPICS:

Diversity and Inclusion
Employee Safety, Health and Wellbeing
Talent Attraction, Development and Management
Community Investment
Goal 1

Maintain and promote workforce diversity and maintain anti-discrimination culture.

Goal 2

Integrate mental health as a topic of overall well-being of employees.

Goal 3

Increase social impact towards marginalised and deserving communities through consistent programmes and initiatives.

Goal 4

Expand investing literacy reach through online and offline channels.

UN SDGs

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WE ARE KENANGA
ENVIRONMENTAL STEWARDSHIP
LEADESRSHIP STATEMENTS
EMPOWERING PEOPLE AND COMMUNITIES
SUSTAINABILITY AT KENANGA
BURSA MALAYSIA SUSTAINABILITY REPORITNG DISCLOSURES
GOOD GOVERNANCE
INDEPENDENT LIMITED ASSURANCE STATEMENT
SUSTAINABLE ECONOMIC GROWTH
SUSTAINABILITY REPORT 2023
OUR BUSINESS VALUE CREATION MODEL
WE ARE KENANGA
LEADERSHIP STATEMENTS
SUSTAINABILITY AT KENANGA
GOOD GOVERNANCE
SUSTAINABLE ECONOMIC GROWTH
ENVIRONMENTAL STEWARDSHIP
EMPOWERING PEOPLE AND COMMUNITIES
BURSA MALAYSIA SUSTAINABILITY REPORTING DISCLOSURES
INDEPENDENT LIMITED ASSURANCE STATEMENT
SUSTAINABILITY REPORT 2023
OUR BUSINESS VALUE CREATION MODEL