SUSTAINABILITY WE CONTRIBUTE TO THE COMMUNITIES WE OPERATE IN OUR ECONOMIC CONTRIBUTIONS We make economic contributions to the communities we operate in through local procurement, both direct and indirect employment, dividends for shareholders, taxes paid to governments and investments in community programmes. Direct Economic Value Generated and Distributed IN 2024, WE CONTRIBUTED A TOTAL OF $10.6b Group Economic Contribution ($b) Bought-in material and services 6.5 Employee wages, salaries and benefits 3.2 Dividends and interest paid 0.7 Government taxes and levies 0.2 Total 10.6 WE BUY LOCALLY AND WORK WITH SMEs We maintain a diverse supply chain and whenever possible, prioritise local procurement in the countries where we operate. In 2024, our spending with SMEs in Singapore was $1.2b, which constituted 54% of our Singapore spending. We had over 10,500 active suppliers for our Singapore operations alone. Of these, 73% were based in Singapore, 9% in the rest of Asia, 8% in Europe, 8% in the U.S. and the remaining 2% in other parts of the world. We continue to support the local ecosystem by investing in and collaborating with SMEs. These partnerships, along with our efforts to enhance their capabilities, help strengthen the Group’s growth in technology, product development and overall competitiveness. PROCUREMENT SPEND ON SMEs IN SINGAPORE $1.2b WE SERVE OUR COMMUNITIES ST Engineering recognises that our lives and businesses are deeply intertwined with the communities we operate in. We persevere to do good as we do well because we believe in building an inclusive, resilient and vibrant society in which people can thrive and stay safe. We support various impactful causes, including healthcare and eldercare, education and the environment. Our outreach efforts are guided by three focus pillars that align with our corporate purpose and the UN SDGs, enabling us to contribute to the sustainable growth of the communities we operate in: • Improving Lives through Charitable Gifts • Empowering Lives through Education • Transforming Lives through Technology and Innovation CONTRIBUTED A TOTAL OF $2.8m* in community contributions Including: $550k to President’s Challenge 2024 $516k to Community Chest’s SHARE Programme $1.7m of other donations, sponsorships and employee volunteering hours * Includes contributions from the Group, employees and other stakeholders. 72 ST ENGINEERING | ANNUAL REPORT 2024
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