In 2016, the global economy grew at a moderate pace with economic activity growing moderately in advanced economies. In Asia, growth was supported by domestic demand with some recovery in external demand. In Malaysia, like the rest of Asia, growth was also fuelled by domestic demand. For 2017, the private sector activity will again spearhead the Malaysian economy sustained by continued wage and employment growth. This is supported by the International Monetary Fund’s growth projection for Malaysia of 4.6% for 2017. However, one of the key challenges to this growth remains the volatility of the USD/MYR rate, affecting costs of operations.
Despite that, we at CCK are optimistic that we would be able to produce positive growth for 2017.
In line with our continued focus on shareholder returns, the Board is pleased to announce a first and final single-tier dividend of 2 sen per share for the financial year ended 31 December 2016.
CORPORATE SOCIAL RESPONSIBILITY
As a responsible corporate citizen, CCK believes in balancing its social, economic and environmental responsibilities in the community in which we operate. We also recognise the importance of maintaining active dialogue with our stakeholders including employees, investors, suppliers, regulators and others and welcome feedback from all concerned.
Employee engagement remains a high priority as we believe that our people are our best assets. Recognising that we are in the food business, maintaining a high level of cleanliness and health among our employees is crucial. As such, we constantly strive to adhere to the standards of the Department of Safety and Health (“DOSH”) and the Ministry of Health (“MOH”). Internal committees have been formed to monitor the working environment to ensure the safety and wellbeing of our employees. To ensure our employees are fully aware of this, there are always new training courses and new equipment introduced to ensure our employees are working in a safe environment.
Understanding that our success depends on the mutual growth of our communities, we also demonstrated our social responsibility by reaching out to the less fortunate by contributing monetary aid to various charitable bodies. Some of our projects for 2016 included:
- The continuing support for the “Feed the Poor” program of SMK Kampung Nangka in Sibu, Sarawak. The program provides meal to the students for the duration of the academic year.
- Contributing or participating in charity food fairs organised by the Cheshire Home, The Salvation Army, The Sarawak Childrens’ Cancer Society, Blind Association of Sibu etc.
- Food for victims of floods.
- Wheelchairs for disabled senior citizens.
The consistency of CCK’s performance over the years depended much on the quality and commitment of our colleagues who have worked tirelessly to ensure the Group’s success. I would like to say thank you very much to my fellow directors on the Board, the various management teams and all our staff for your dedication. On behalf of the Board and CCK Group, I would also like to acknowledge the support of our shareholders, business partners, suppliers and customers and thank you for your continued belief and support in CCK.