Board Statement

The Board of Directors (the “Board”) is pleased to present the third Sustainability Report of Food Empire Holdings Limited (“Food Empire” or together with its subsidiaries, “the Group”) for the financial year ended 31 December 2019 (“FY2019”). This report provides an update on the progress that the Group has made towards achieving its Environmental, Social and Governance (ESG) aspirations.

In the last report, Food Empire made significant strides in its sustainability reporting journey. Through the addition of two material matters and the increase in scope to include Food Empire’s operations in Vietnam, the group provided a more comprehensive overview of its sustainability performance. This transparency and progress on the Group’s sustainability performance was formally recognised as the Group was awarded with the Singapore Investors Association of Singapore (“SIAS”) Sustainability Award for the “Small Cap” category. This is an affirmation of our continuous efforts in implementing environmentally and socially responsible practices. The Group will continue to ensure that it upholds the expectations of all its stakeholders towards achieving its ESG goals.

In 2019, the Board conducted a review of Food Empire’s five material sustainability matters and acknowledged that these material matters are still relevant to the Group this year. The Board will continue to ensure that these sustainability matters are monitored and managed. The Board remains committed to working closely with management to drive the sustainable growth of the Group and to deliver long-term value for our stakeholders.