As a dual-listed company in both Singapore and Taiwan, Medtecs International Corporation Ltd (the Company), in compliance with the regulations of the two Stock Exchanges we are listed on, submits annual reports which include the Company's organizational structure, business overview, financial results, corporate governance and corporate social responsibility. As required by the Singapore Stock Exchange, we must submit our 2017 Sustainability Report by the end of 2018, with such subsequent Reports to be incorporated into the Companys annual report or submitted as a separate stand-alone report. For timely submission of this Report on the sustainable development of the Company, we have set up a Special Committee dedicated to this task.
I fully appreciate that the importance of the Sustainability Report lies not in the thoroughness of its content, but in the many steps taken in preparation of the Report, which have made us thoroughly examine the internal and external environmental changes faced by the Company, identify possible risks, potential growth opportunities for the operation, and our existing business expertise and human resources so that, through systemic strategic planning and implementation of action plans, we are able to mitigate risks on the one hand and, on the other hand, to seize potential opportunities to create value for our employees, shareholders, customers, suppliers, financial institutions, communities, as well as law enforcement agencies and non-government organizations.
Clement, Yang Ker-Cheng
Chairman & CEO
Therefore, the preparation of the Sustainability Report has required the participation and follow-up action from all our employees so that the Report generates more than just hot air and publicity. The supervision, support, and assistance by the Board of Directors are also indispensable, and communication with all stakeholders is crucial. In order to promote this project, our Special Committee members comprise officers of the highest rank from each of our offices.
Through continuous dialogue and exchange of relevant information, the Committee has thoroughly examined various external factors from three aspects: environmental protection, social balance, and corporate governance and, depending on the current situation and possible future development, will select key projects, set priorities and implement these projects accordingly.
The preparation and production of the Sustainability Report was a process of trial and error because we had decided not to engage an external party but to tap into our internal resources and manpower. As a result, cross-functional communication between different departments, as well as vertical communication among our subsidiary companies, have increased in both frequency and depth, creating a positive impact on our team spirit. In particular, the cross-cultural training provided as part of our staff training program will instill a sense of corporate identity and allow our staff members from diverse cultural backgrounds such as Taiwan, China, the Philippines, Cambodia and Singapore to better appreciate, respect one another and work together. Such derivative benefits not only lead to the cultivation of different talents, but also contribute meaningfully to the improvement of the company's competitiveness.
Preparation and production of the Sustainability Report has helped generate a dynamic state of constant adjustment of the Companys operations to reduce risks and seize growth opportunities to better meet the needs of all our stakeholders. In this regard, I have fully committed myself as Chairman to leading our employees to spare no efforts in implementing initiatives to achieve the sustainability development goals. We believe the Company will continue to improve in terms of its environmental, social welfare and corporate governance, so that all our stakeholders will feel our determination and see our contribution to the welfare of the society.