Collaborative working is the cornerstone of sustainable business practices. Halcyon Agri is committed to working with our stakeholders and engages in regular dialogue with customers, suppliers, competitors, industry associations, our employees and their families, to understand and respond to their needs.
We regularly participate in industry dialogues with industry bodies, such as the International Rubber Study Group (IRSG), Indonesian Rubber Association (Gapkindo), Malaysian Rubber Board (MRB), Global Agribusiness Alliance (GAA) and non-industry related interest groups and NGOs. We continue to participate and initiate meetings with customers and environmental NGOs seeking alignment on policies and actionable programmes.
There are about six million smallholders farming rubber throughout the world. These smallholders represent almost 90% of the supply of raw material to the tyre industry. As a responsible company that depends on smallholders, we must engage with them and address the livelihood concern of these farmers and their families. We have initiated several sustainable programmes to help improve the livelihoods of the smallholders in our supply chain. While we grow rubber on our plantations, we also procure from third-party producers. We encourage local, sustainable and accountable procurement via tracing suppliers and direct natural rubber providers in areas of labour practices, indigenous rights, anti-corruption, compliance and others.
Other stakeholders include regulators, financial institutions, investors and shareholders. We hold our annual general meeting as well as quarterly financial results briefing sessions. We ensure we comply with regulations including corporate governance, diversity, taxation, environment, labour, health and safety and supply diversification.
We produce our Sustainability Report based on the SGX Sustainability Reporting Guide and those of the Global Reporting Initiative (GRI). Our sustainability reports are published within the stipulated reporting timeframe and posted on our website.