Stakeholder Engagement
Demco recognizes the importance of all stakeholder groups that have an impact on and influence over the Company’s business operations. The Company is committed to conducting its business with transparency and good corporate governance to foster trust among stakeholders. The Board of Directors has established written policies and best practices for stakeholder engagement, as outlined in the Company’s Corporate Governance and Business Ethics Policy, which is publicly available on Demco’s website. In all of its activities, Demco respects the rights of stakeholders wherever the Company operates. Stakeholders are categorized into six key groups, namely:
Demco actively manages stakeholder expectations and addresses issues of concern through effective engagement. The level and form of engagement vary depending on the stakeholder group. Details are as follows:
Shareholders / Investors / Creditors and Financial Institutions
Needs / Expectations
- Transparent and consistent disclosure of financial performance
- Business growth and development that ensures stability and sustainable returns
- Confidence in the Company’s governance and care for minority shareholders
- Compliance with relevant laws and protection of shareholders' rights
- Effective and efficient internal control and risk management systems
- Corporate governance and responsible business practices, including social, environmental, and governance (ESG) considerations
- Clear disclosure of operational performance and financial status, as well as ESG performance
Company’s Response to Stakeholder Expectations
- Disclosure of transparent and consistent financial performance
- Communication on business growth and sustainable development strategies
- Governance practices that ensure equitable treatment of all shareholders
- Compliance with relevant regulations and protection of shareholders' rights
- Implementation of effective internal control and risk management systems
- Responsible business conduct in line with ESG principles
- Disclosure of performance and ESG-related data
Channels of Engagement
- Annual General Meeting of Shareholders (AGM)
- Analyst and investor briefings
- One-on-one meetings with investors and analysts, including participation in events such as Opportunity Day
- Surveys and risk perception assessments
- Provision of information through accessible and timely disclosure channels
- Corporate website, email communication, and other media
Customers
Needs / Expectations
- Delivery of products and services in accordance with contractual terms and quality standards
- Responsiveness to customer needs and prompt resolution of relevant issues
- Fair treatment of all customer groups within the framework of relevant laws and regulations
- Development of technologies to reduce environmental impacts
- Staff preparedness to adapt to changing customer demands
- Protection and confidentiality of customer data
Company’s Response to Stakeholder Expectations
- Ensuring product and service delivery meets contractual terms and quality standards
- Organizing channels for receiving and resolving customer complaints efficiently
- Conducting business with transparency and fairness to all customer groups
- Developing products and services with a focus on customer satisfaction
- Enhancing data protection measures for customers
- Regularly surveying and reviewing customer satisfaction
Channels of Engagement
- Annual customer satisfaction surveys
- Customer feedback and complaint channels
- Company website
- Stakeholder engagement activities
- Company sustainability and annual reports
Business Partners and Trade Associates (Suppliers / Contractors / Vendors)
Needs / Expectations
- Fair and ethical procurement practices
- Transparent and fair supplier selection processes
- Non-discriminatory and ethical competition
- Supplier satisfaction
- Efficient, transparent, and auditable procurement processes
- Occupational health and safety for supplier personnel
Company’s Response to Stakeholder Expectations
- Conducting procurement with transparency and fairness in line with good governance
- Applying fair selection criteria in procurement and contractor hiring
- Promoting long-term relationships with quality partners
- Setting ethical supplier standards and codes of conduct
- Providing clear communication channels such as websites, emails, and procurement documents
- Assessing occupational safety measures and managing safety risks in all projects
Channels of Engagement
- Supplier assessments and evaluations
- Business partner meetings and forums
- Policies, guidelines, or manuals for partners
- Online communication and supplier contact channels
Communities, Society, and the Environment (including local communities, project vicinity areas, and major local stakeholders)
Needs / Expectations
- Environmental and social impact management arising from business operations
- Access to information and clear communication with affected communities
- Engagement of local personnel and promotion of employment and income distribution
- Community development, including social welfare and education
- Support for local activities and community participation
- Creating opportunities for communities to participate in the Company's operations
- Environmental protection and prevention of pollution from operations
Company’s Response to Stakeholder Expectations
- Conducting business with consideration for environmental and community impacts
- Engaging with stakeholders in project vicinity areas to share information and collect feedback
- Organizing CSR activities that promote community well-being, such as occupational training or educational programs
- Encouraging community participation in activities and employment opportunities
- Providing communication channels to raise concerns and suggestions
- Building positive relationships through staff engagement in social and environmental responsibility efforts
Channels of Engagement
- CSR activities
- Media communications
- Community visits and complaint channels
- Company website
Government Agencies, Regulators, and Related Authorities
Needs / Expectations
- Compliance with laws, regulations, and relevant policies
- Environmental and social impact prevention and mitigation
- Contribution to national sustainability efforts
- Transparent and accountable business operations
- Participation in public hearings and government-sponsored projects
- Cooperation in addressing national issues such as climate change
Company’s Response to Stakeholder Expectations
- Full compliance with applicable laws and regulatory requirements
- Collaboration with regulatory agencies in reporting and disclosure of accurate and timely data
- Participation in public hearings and feedback sessions to foster mutual understanding
- Transparent submission of required reports and documents
- Advocacy for sustainable practices and national development initiatives
- Designation of responsible units to ensure accurate and timely communication with government agencies
Channels of Engagement
- Public hearings and regulatory meetings
- Formal correspondence and official reports
- Company website
Employees (Executives / Staff)
Needs / Expectations
- Quality of life, including health, safety, and a healthy work environment
- Fair compensation and welfare benefits
- Job stability and trust in career advancement
- Transparent and fair performance evaluation
- Opportunities for professional development and career advancement
Company’s Response to Stakeholder Expectations
- Established a Welfare Committee to oversee and enhance employee well-being
- Regularly reviewed and updated compensation and welfare policies
- Maintained a safe and suitable working environment
- Implemented transparent performance evaluation systems and fair promotion practices
- Promoted career development through training and upskilling programs
- Fostered employee engagement and workplace satisfaction through internal surveys
- Maintained open communication channels to build trust
- Encouraged feedback and suggestions, incorporating them into management practices
- Promoted a workplace culture that respects diversity and the rights of all individuals
Channels of Engagement
- Employee satisfaction surveys
- HR Change Management projects
- Training programs for employee skill and career development
- Internal communications via intranet, email, website, and DEMCO Journal
- Manager Forum, Town Hall Meetings, Safety Talks
- Employee welfare committee meetings and joint management activities
- Grievance handling and complaint channels
- Suggestion box system