WE CONTRIBUTE TO THE COMMUNITIES WE OPERATE IN OUR ECONOMIC CONTRIBUTIONS We contribute economically to the communities we operate in through local procurement, direct and indirect employment, dividends to shareholders, taxes paid to governments, and investment in community programmes. Read more about our economic contributions, how we manage our economic performance and achieve productivity in our Sustainability Report Direct Economic Value Generated and Distributed Group Economic Contribution ($m) Bought-in materials and services 5,254 Employee wages, salaries and benefits 2,591 Dividends and interest paid 823 Government taxes and levies 79 WE BUY LOCALLY AND WORK WITH SMALL AND MEDIUM ENTERPRISES (SMEs) Our supply chain is diverse due to the range of businesses, as well as the multiple geographies where we operate. Where possible, we strive to buy locally in the countries we operate in. In 2022, our Singapore operations alone had over 9,800 suppliers. Of these, 73% are based in Singapore, 17% in Europe and SUSTAINABILITY $350m Value of Purchases from SMEs in Singapore North America, and the remaining 10% in other parts of the world. We have created a thriving local ecosystem through our spend on SMEs. With the spend on SMEs and our collaborative efforts to upgrade their capabilities, they are in turn able to support the Group’s growth in technology, product capability and competitiveness. Read more about our supply chain and our efforts to buy locally and help SMEs in our Sustainability Report 74 ST ENGINEERING ANNUAL REPORT 2022
RkJQdWJsaXNoZXIy NjMyNDM=