296 Singer (Sri Lanka) PLC

INDEPENDENT ASSURANCE ON SUSTAINABILITY

REPORTING

Independent Assurance Report to the the Integrated Annual Report in accordance Our Independence and Quality Control
Board of Directors of Singer (Sri Lanka) with that Criteria, in all material respects. We have maintained our independence and
PLC This responsibility includes establishing and confirm that we have met the requirements
Scope maintaining internal controls, maintaining of the Code of Ethics for Professional
adequate records and making estimates that Accountants issued by the Professional
We have been engaged by Singer (Sri Lanka)
are relevant to the preparation of the subject Accountants issued by CA Sri Lanka and have
PLC (“the Entity”) to perform a ‘limited
matter, such that it is free from material the required competencies and experience to
assurance engagement,’ as defined by Sri
misstatement, whether due to fraud or error. conduct this assurance engagement.
Lanka Standard on Assurance Engagements,
here after referred to as the engagement,
Ernst & Young’s responsibilities EY also applies International Standard on
to report on the Economic, Environment,
Social and Governance (EESG) indicators of Our responsibility is to express a conclusion Quality Control 1, Quality Control for Firms
the Entity’s Integrated Annual Report (the on the presentation of the Subject Matter that Perform Audits and Reviews of Financial
“Subject Matter”) as of 31st March 2023. based on the evidence we have obtained. Statements, and Other Assurance and Related
Services Engagements, and accordingly
Criteria applied by Singer (Sri Lanka) PLC We conducted our engagement in maintains a comprehensive system of quality
accordance with the Sri Lanka Standard control including documented policies and
In preparing the Subject Matter, Singer (Sri
for Assurance Engagements Other Than procedures regarding compliance with ethical
Lanka) PLC applied the following criteria
Audits or Reviews of Historical Financial requirements, professional standards and
(“Criteria”):
Information (SLSAE 3000 (Revised), and the applicable legal and regulatory requirements.
terms of reference for this engagement as
y The Global Reporting Initiative’s (GRI)
Sustainability Reporting Guidelines, agreed with the Singer (Sri Lanka) PLC on Description of procedures performed
publicly available at GRI’s global website 02 May 2023. Those standards require that Procedures performed in a limited assurance
www.globalreporting.org. we plan and perform our engagement to engagement vary in nature and timing from,
obtain limited assurance about whether, in and are less in extent than for a reasonable
Such Criteria were specifically designed for
all material respects, the Subject Matter is assurance engagement. Consequently the
purpose of assisting you in determining
presented in accordance with the Criteria, level of assurance obtained in a limited
whether Entity’s Economic, Environment,
and to issue a report. The nature, timing, and assurance engagement is substantially
Social and Governance (EESG) indicators
extent of the procedures selected depend lower than the assurance that would
of the Entity’s Integrated Annual Report FY
on our judgment, including an assessment have been obtained had a reasonable
2022/23 is in accordance with the relevant
of the risk of material misstatement, whether assurance engagement been performed.
criteria; As a result, the subject matter
due to fraud or error. Our procedures were designed to obtain a
information may not be suitable for another
limited level of assurance on which to base
purpose.
We believe that the evidence obtained is our conclusion and do not provide all the
sufficient and appropriate to provide a basis evidence that would be required to provide a
Singer (Sri Lanka) PLC’s responsibilities
for our limited assurance conclusions. reasonable level of assurance.
Singer (Sri Lanka) PLC’s management is
responsible for selecting the Criteria, and for
presenting the EESG indicators contained in

Although we considered the effectiveness
of management’s internal controls when
determining the nature and extent of our
procedures, our assurance engagement
was not designed to provide assurance
on internal controls. Our procedures did
not include testing controls or performing
procedures relating to checking aggregation
or calculation of data within IT systems.
A limited assurance engagement consists
of making enquiries, primarily of persons
responsible for preparing the subject
matter and related information and applying
analytical and other appropriate procedures.
Our procedures included:
y Validated the information presented and
checked the calculations performed by
the organization through recalculation
y Performed a comparison of the content
given in the Report against the criteria
given in the selected sustainability
standards/frameworks.
y Conducted interviews with relevant
organization’s personnel to understand
the process for collection, analysis,
aggregation and presentation of
data. Interviews included selected key
management personnel and relevant
staff
y Read the content presented in the
Report for consistency with our overall
knowledge obtained during the course
of our assurance engagement and
requested changes wherever required.
Annual Report 2022/23 297
y Provided guidance, recommendations
and feedback on the improvement of
the sustainability reporting indicators to
improve the presentation standard.
We also performed such other procedures
as we considered necessary in the
circumstances.
Emphasis of matter
Economic, Environment, Social management
data/information are subject to inherent
limitations given their nature and the
methods used for determining, calculating
and estimating such data.
We also do not provide any assurance on the
assumptions and achievability of prospective
information presented in the Integrated
Annual Report.
Conclusion
Based on our procedures and the evidence
obtained, we are not aware of any material
modifications that should be made to
the Economic, Environment, Social and
Governance (EESG) indicators of the Entity’s
Integrated Annual Report as of 31st March
2023 in order for it to be in accordance with
the Criteria.
Chartered Accountants
Colombo
18th May 2023
298 Singer (Sri Lanka) PLC

GRI CONTENT INDEX

Statement of use Singer (Sri Lanka) PLC has reported in accordance with the GRI Standards for the
period 1st April 2022 to 31st March 2023
GRI 1 used GRI 1: Foundation 2021
Applicable GRI Sector Standard(s) Refer the following index

GRI STANDARD/ DISCLOSURE LOCATION PAGE NO OMISSION GRI SECTOR

OTHER SOURCE STANDARD
REQUIREMENT(S) REASON EXPLANATION
REF. NO.
OMITTED

General disclosures
GRI 2: General 2-1 Organizational details Overview 4 A gray cell indicates that reasons for omission are not permitted for
Disclosures 2021 the disclosure or that a GRI Sector Standard reference number is not
2-2 Entities included in the organization’s Overview 5 available.
sustainability reporting
2-3 Reporting period, frequency and contact Overview 4-5
point
2-4 Restatements of information Overview 4
2-5 External assurance Independent 294-297
Assurance
on Integrated
Reporting
2-6 Activities, value chain and other business Value Creation 30-31, 68-
relationships Model 69, 77
2-7 Employees Human Capital 59-60
2-8 Workers who are not employees Human Capital 59
2-9 Governance structure and composition Corporate 98
Governance
2-10 Nomination and selection of the highest Corporate 97
governance body Governance
2-11 Chair of the highest governance body Corporate 99
Governance
2-12 Role of the highest governance body in Corporate 99
overseeing the management of impacts Governance
2-13 Delegation of responsibility for managing Corporate 99
impacts Governance
2-14 Role of the highest governance body in Corporate 99
sustainability reporting Governance
2-15 Conflicts of interest Corporate 102
Governance
2-16 Communication of critical concerns Corporate 102
Governance
2-17 Collective knowledge of the highest Corporate 102
governance body Governance
2-18 Evaluation of the performance of the Corporate 102
highest governance body Governance
2-19 Remuneration policies Corporate 107
Governance
2-20 Process to determine remuneration Corporate 107
Governance
2-21 Annual total compensation ratio Corporate 2-21 Information The group does not
Governance unavailable/ currently measure
incomplete this criteria
2-22 Statement on sustainable development Chairman’s 10-13
strategy Statement
 Annual Report 2022/23 299

GRI CONTENT INDEX

GRI STANDARD/ DISCLOSURE LOCATION PAGE NO OMISSION GRI SECTOR

OTHER SOURCE STANDARD
REQUIREMENT(S) REASON EXPLANATION
REF. NO.
OMITTED

2-23 Policy commitments Corporate 97

Governance
2-24 Embedding policy commitments Corporate 97
Governance
2-25 Processes to remediate negative impacts Corporate 105
Governance
2-26 Mechanisms for seeking advice and raising Corporate 105
concerns Governance
2-27 Compliance with laws and regulations 2-27 Information Not Disclosed
unavailable/
incomplete
2-28 Membership associations Social & 69
Relationship
Capital
2-29 Approach to stakeholder engagement Stakeholder 32-33
Relationships
2-30 Collective bargaining agreements Human Capital 61
Material topics

GRI 3: Material Topics 3-1 Process to determine material topics Material Topics 38-41 A gray cell indicates that reasons for omission are not permitted for
2021 3-2 List of material topics Material Topics 39-41 the disclosure or that a GRI Sector Standard reference number is not
available.
Economic performance

GRI 3: Material Topics 3-3 Management of material topics

2021

GRI 201: Economic 201-1 Direct economic value generated and Statement of 26
Performance 2016 distributed Value added -
Group
201-2 Financial implications and other risks and Natural Capital 37
opportunities due to climate change
201-3 Defined benefit plan obligations and Employee 204-205,
other retirement plans Benefit 143, 156
Obligations
201-4 Financial assistance received from Corporate 201-4 Not applicable Not relevant to the
government Governance Group’s operations
Market presence

GRI 3: Material Topics 3-3 Management of material topics

2021

GRI 202: Market 202-1 Ratios of standard entry level wage by Human Capital 202-1 Information The group does not
Presence 2016 gender compared to local minimum wage unavailable/ currently measure
incomplete this criteria

202-2 Proportion of senior management hired Human Capital 202-2 Information The group does not
from the local community unavailable/ currently measure
incomplete this criteria
300 Singer (Sri Lanka) PLC

GRI CONTENT INDEX

GRI STANDARD/ DISCLOSURE LOCATION PAGE NO OMISSION GRI SECTOR

OTHER SOURCE STANDARD
REQUIREMENT(S) REASON EXPLANATION
REF. NO.
OMITTED

Indirect economic impacts

GRI 3: Material Topics 3-3 Management of material topics Social &

2021 Relationship
Capital

GRI 203: Indirect 203-1 Infrastructure investments and services Manufactured 73-75,
Economic Impacts supported Capital 70-71
2016

203-2 Significant indirect economic impacts Social & 70-71

Relationship
Capital
Procurement practices

GRI 3: Material Topics 3-3 Management of material topics Social &

2021 Relationship
Capital

GRI 204: 204-1 Proportion of spending on local suppliers Social & 69

Procurement Relationship
Practices 2016 Capital

Anti-corruption

GRI 3: Material Topics 3-3 Management of material topics

2021

GRI 205: Anti- 205-1 Operations assessed for risks related to 205-1 Information The group does not
corruption 2016 corruption unavailable/ currently measure
incomplete this criteria
205-2 Communication and training about anti- 205-2 Information The group does not
corruption policies and procedures unavailable/ currently measure
incomplete this criteria
205-3 Confirmed incidents of corruption and 205-3 Information The group does not
actions taken unavailable/ currently measure
incomplete this criteria
Anti-competitive behaviour
GRI 3: Material Topics 3-3 Management of material topics
2021

GRI 206: Anti- 206-1 Legal actions for anti-competitive 206-1 Information The group does not
competitive behaviour, anti-trust, and monopoly practices unavailable/ currently measure
Behaviour 2016 incomplete this criteria

Tax

GRI 3: Material Topics 3-3 Management of material topics Corporate

2021 Governance

GRI 207: Tax 2019 207-1 Approach to tax Corporate 159

Governance

207-2 Tax governance, control, and risk Corporate 98, 159

management Governance

207-3 Stakeholder engagement and Corporate 98, 159

management of concerns related to tax Governance

207-4 Country-by-country reporting 207-4 Not applicable Not relevant to the

Group’s operations
 Annual Report 2022/23 301

GRI STANDARD/ DISCLOSURE LOCATION PAGE NO OMISSION GRI SECTOR

OTHER SOURCE STANDARD
REQUIREMENT(S) REASON EXPLANATION
REF. NO.
OMITTED

Materials

GRI 3: Material Topics 3-3 Management of material topics Natural Capital

2021

GRI 301: Materials 301-1 Materials used by weight or volume Natural Capital 84
2016
301-2 Recycled input materials used Natural Capital 84
301-3 Reclaimed products and their packaging Natural Capital 84
materials
Energy
GRI 3: Material Topics 3-3 Management of material topics Natural Capital
2021
GRI 302: Energy 2016 302-1 Energy consumption within the Natural Capital 84
organization
302-2 Energy consumption outside of the 302-2 Information The group does not
organization unavailable/ currently measure
incomplete this criteria
302-3 Energy intensity Natural Capital 84
302-4 Reduction of energy consumption Natural capital 84
302-5 Reductions in energy requirements of 302-5 Information The group does not
products and services unavailable/ currently measure
incomplete this criteria
Water and effluents

GRI 3: Material Topics 3-3 Management of material topics Natural Capital

2021
GRI 303: Water and 303-1 Interactions with water as a shared Natural Capital 85
Effluents 2018 resource
303-2 Management of water discharge-related 303-2 Information The group does not
impacts unavailable/ currently measure
incomplete this criteria
303-3 Water withdrawal Natural Capital 85
303-4 Water discharge Natural capital 85
303-5 Water consumption Natural Capital 85
Biodiversity

GRI 3: Material Topics 3-3 Management of material topics

2021
GRI 304: Biodiversity 304-1 Operational sites owned, leased, 304-1 Not applicable Not relevant to the
2016 managed in, or adjacent to, protected areas Group’s operations
and areas of high biodiversity value outside
protected areas
304-2 Significant impacts of activities, products 304-2 Not applicable Not relevant to the
and services on biodiversity Group’s operations
304-3 Habitats protected or restored 304-3 Not applicable Not relevant to the
Group’s operations
304-4 IUCN Red List species and national 304-4 Not applicable Not relevant to the
conservation list species with habitats in areas Group’s operations
affected by operations
302 Singer (Sri Lanka) PLC

GRI CONTENT INDEX

GRI STANDARD/ DISCLOSURE LOCATION PAGE NO OMISSION GRI SECTOR

OTHER SOURCE STANDARD
REQUIREMENT(S) REASON EXPLANATION
REF. NO.
OMITTED

Emissions

GRI 3: Material Topics 3-3 Management of material topics Natural Capital

2021
GRI 305: Emissions 305-1 Direct (Scope 1) GHG emissions Natural Capital 85
2016 305-2 Energy indirect (Scope 2) GHG emissions Natural Capital 85
305-3 Other indirect (Scope 3) GHG emissions Natural Capital 85
305-4 GHG emissions intensity Natural Capital 85
305-5 Reduction of GHG emissions Natural Capital 85
305-6 Emissions of ozone-depleting substances 305-6 Information The group does not
(ODS) unavailable/ currently measure
incomplete this criteria
305-7 Nitrogen oxides (NOx), sulfur oxides 305-7 Information The group does not
(SOx), and other significant air emissions unavailable/ currently measure
incomplete this criteria
Waste

GRI 3: Material Topics 3-3 Management of material topics Natural Capital

2021
GRI 306: Waste 2020 306-1 Waste generation and significant waste- Natural Capital 85
related impacts
306-2 Management of significant waste-related Natural Capital 85
impacts
306-3 Waste generated Natural Capital 85
306-4 Waste diverted from disposal Natural Capital 85
306-5 Waste directed to disposal Natural Capital 85
Supplier environmental assessment

GRI 3: Material Topics 3-3 Management of material topics

2021
GRI 308: Supplier 308-1 New suppliers that were screened using 308-1 Information The group does not
Environmental environmental criteria unavailable/ currently measure
Assessment 2016 incomplete this criteria
308-2 Negative environmental impacts in the 308-2 Information The group does not
supply chain and actions taken unavailable/ currently measure
incomplete this criteria
Employment

GRI 3: Material Topics 3-3 Management of material topics

2021
GRI 401: 401-1 New employee hires and employee 401-1 Information Not Disclosed
Employment 2016 turnover incomplete
401-2 Benefits provided to full-time employees Human Capital 63
that are not provided to temporary or part-time
employees
401-3 Parental leave Human Capital 65
Labor/management relations

GRI 3: Material Topics 3-3 Management of material topics

2021
GRI 402: Labor/ 402-1 Minimum notice periods regarding Human Capital 61
Management operational changes
Relations 2016
 Annual Report 2022/23 303

GRI STANDARD/ DISCLOSURE LOCATION PAGE NO OMISSION GRI SECTOR

OTHER SOURCE STANDARD
REQUIREMENT(S) REASON EXPLANATION
REF. NO.
OMITTED

Occupational health and safety

GRI 3: Material Topics 3-3 Management of material topics

2021
GRI 403: 403-1 Occupational health and safety Human Capital 60
Occupational Health management system
and Safety 2018
403-2 Hazard identification, risk assessment, Human Capital 60
and incident investigation
403-3 Occupational health services Human Capital 60
403-4 Worker participation, consultation, and Human Capital 60
communication on occupational health and
safety
403-5 Worker training on occupational health Human Capital 60
and safety
403-6 Promotion of worker health Human Capital 60
403-7 Prevention and mitigation of occupational Human Capital 60
health and safety impacts directly linked by
business relationships
403-8 Workers covered by an occupational Human Capital 60
health and safety management system
403-9 Work-related injuries Human Capital 60
403-10 Work-related ill health 403-10 Information The group does not
unavailable/ currently measure
incomplete this criteria
Training and education

GRI 3: Material Topics 3-3 Management of material topics Human Capital

2021
GRI 404: Training and 404-1 Average hours of training per year per Human Capital 62
Education 2016 employee
404-2 Programs for upgrading employee skills Human Capital 62
and transition assistance programs
404-3 Percentage of employees receiving Human Capital 63
regular performance and career development
reviews
Diversity and equal opportunity

GRI 3: Material Topics 3-3 Management of material topics Human Capital

2021
GRI 405: Diversity 405-1 Diversity of governance bodies and Human Capital 64
and Equal employees
Opportunity 2016 405-2 Ratio of basic salary and remuneration of Human Capital 63
women to men
Non-discrimination

GRI 3: Material Topics 3-3 Management of material topics

2021
GRI 406: Non- 406-1 Incidents of discrimination and corrective Human Capital 64
discrimination 2016 actions taken
304 Singer (Sri Lanka) PLC

GRI CONTENT INDEX

GRI STANDARD/ DISCLOSURE LOCATION PAGE NO OMISSION GRI SECTOR

OTHER SOURCE STANDARD
REQUIREMENT(S) REASON EXPLANATION
REF. NO.
OMITTED

Freedom of association and collective bargaining

GRI 3: Material Topics 3-3 Management of material topics

2021
GRI 407: Freedom 407-1 Operations and suppliers in which the Human Capital 61
of Association and right to freedom of association and collective
Collective Bargaining bargaining may be at risk
2016
Child labor

GRI 3: Material Topics 3-3 Management of material topics

2021
GRI 408: Child Labor 408-1 Operations and suppliers at significant Social & 69
2016 risk for incidents of child labor Relationship
Capital
Forced or compulsory labor

GRI 3: Material Topics 3-3 Management of material topics

2021
GRI 409: Forced or 409-1 Operations and suppliers at significant Social & 69
Compulsory Labor risk for incidents of forced or compulsory labor Relationship
2016 Capital
Security practices

GRI 3: Material Topics 3-3 Management of material topics Not applicable Not relevant to the
2021 Group’s operations
GRI 410: Security 410-1 Security personnel trained in human 410-1
Practices 2016 rights policies or procedures
Rights of indigenous peoples

GRI 3: Material Topics 3-3 Management of material topics Not applicable Not relevant to the
2021 Group’s operations

GRI 411: Rights of 411-1 Incidents of violations involving rights of 411-1

Indigenous Peoples indigenous peoples
2016

Local communities

GRI 3: Material Topics 3-3 Management of material topics Social &

2021 Relationship
Capital
GRI 413: Local 413-1 Operations with local community Social & 70-71
Communities 2016 engagement, impact assessments, and Relationship
development programs Capital
413-2 Operations with significant actual and Social & 70
potential negative impacts on local communities Relationship
Capital
Supplier social assessment

GRI 3: Material Topics 3-3 Management of material topics

2021
GRI 414: Supplier 414-1 New suppliers that were screened using Social & 69
Social Assessment social criteria Relationship
2016 Capital
414-2 Negative social impacts in the supply Social & 69
chain and actions taken Relationship
Capital
 Annual Report 2022/23 305

GRI STANDARD/ DISCLOSURE LOCATION PAGE NO OMISSION GRI SECTOR

OTHER SOURCE STANDARD
REQUIREMENT(S) REASON EXPLANATION
REF. NO.
OMITTED

Public policy

GRI 3: Material Topics 3-3 Management of material topics Corporate

2021 Governance
GRI 415: Public Policy 415-1 Political contributions 415-1 Not applicable Not relevant to the
2016 Group’s operations
Customer health and safety

GRI 3: Material Topics 3-3 Management of material topics

2021
GRI 416: Customer 416-1 Assessment of the health and safety 416-1 Information The group does not
Health and Safety impacts of product and service categories unavailable/ currently measure
2016 incomplete this criteria
416-2 Incidents of non-compliance concerning Social & 68
the health and safety impacts of products and Relationship
services Capital
Marketing and labeling

GRI 3: Material Topics 3-3 Management of material topics

2021
GRI 417: Marketing 417-1 Requirements for product and service Social & 68
and Labeling 2016 information and labeling Relationship
Capital
417-2 Incidents of non-compliance concerning Social & 68
product and service information and labeling Relationship
Capital
417-3 Incidents of non-compliance concerning Social & 68
marketing communications Relationship
Capital
Customer privacy

GRI 3: Material Topics 3-3 Management of material topics

2021

GRI 418: Customer 418-1 Substantiated complaints concerning 418-1 Information The group does not
Privacy 2016 breaches of customer privacy and losses of unavailable/ currently measure
customer data incomplete this criteria