MEGA FIRST CORPORATION BERHAD

Malaysia | 3069.KL | Main

By Sustify.world AI model | 2025-05-25

Mega First Corporation Berhad, together with its subsidiaries, engages in renewable energy, resources, and packaging businesses in Malaysia, Lao PDR, other ASEAN countries, Papua New Guinea, India, Bangladesh, Australia, New Zealand, and internationally. The company builds, owns, and operates a 260 MW run-of-river hydropower plant; and undertakes solar photovoltaic investment business activities. It is also involved in the quarrying of limestone; manufacture and trading of lime products, calcium carbonate powder, and bricks; and manufactures and distributes flexible packaging materials, paper bags, flexible packaging, and labels products, as well as printed labels and stickers. In addition, the company provides management, property development, plantation development, property investment, and management consultancy services; development and operation of medical centre; engineering, designing, and manufacturing of automotive components; manufacture and trading of various kinds of metal products and related business; and car park operator. Further, it engages in the design, build, own, operates, and maintain solar photovoltaic power plant and related activities; construction, installation, operation, and maintenance of solar photovoltaic systems; solar photovoltaic investment; trading in building materials and construction products; investment in quoted securities; sand mining activities; wholesale, processing, packing, manufacturing and trading of fruits, grains and other food products, as well as vegetables and groceries; agriculture plantation and selling of agriculture produce; retail of groceries and vegetables; and transportation business. Mega First Corporation Berhad was incorporated in 1966 and is headquartered in Petaling Jaya, Malaysia.

Reference

Report Year: 2024
Source Files: MFCB_Sustainability_Report_2024_(Bursa).pdf

Sustainability Committee

Sustainability Committee (Members Unknown) 🟢

Quarterly meetings 🟢

Reporting

GRI, CDP, Separate Report 🟢

GHG Accounting

MFCB demonstrates a commitment to GHG accounting with reporting of Scope 1 and 2 emissions across key divisions and partial Scope 3 data for headquarters. Strengths include a clear target of net zero by 2050 and renewable energy integration, avoiding 1.2 MtCO₂e through hydropower. However, absolute emission figures are missing, limiting transparency, and a group-wide inventory is delayed to 2025. Verification is also absent, though plans for independent assurance are noted. Improvements are needed in providing detailed emission data, establishing a base year, and accelerating third-party verification to enhance credibility and track progress effectively.

Emissions

Scope	Value	Note
Scope1	Scope 1 Reported 🟢	Specific data not provided in absolute terms ⚠️
Scope2	Scope 2 Reported 🟢	Includes HQ emissions, specific data not provided ⚠️
Scope3	Scope 3 Partially Reported →	Limited to HQ emissions, full inventory pending ⚠️
Biogenic emissions	Not applicable →	No biomass or biofuel usage reported.

Other Details

Base year: Not specified
Boundary inventory: Covers Renewable Energy, Resources, and Packaging divisions (92% of revenue); operations in Malaysia and Lao PDR
Gwp basis: Not specified
Standard: Not specified
Data collection approach: Internal reporting, group-wide inventory targeted by 2025
Third party verification: Not verified ⚠️
Carbon intensity: Not reported ⚠️

Efforts

1.2 MtCO₂e avoided 🟢
50% waste reduction target 🟢
Solar PV adoption 🌞
Biodegradable packaging 🌱

Social Highlights

14,249 training hours 🟢
RM1.8M community investment 🥗
51 suppliers trained 🟢
Limited data available ⚠️
Limited data available ⚠️

Governance

Salary disclosure: Can't find ⚠️
Litigation: Can't find ⚠️

Report Quality

Commendable foundation in sustainability reporting by MFCB with clear targets like net zero by 2050 and quantifiable actions such as avoiding 1.2 MtCO₂e through hydropower 🟢. The report offers measurable outcomes in renewable energy production and training hours (14,249 hours for employees). Forward-looking commitments, including a group-wide GHG inventory by 2025 and waste reduction targets, add to its credibility. However, key gaps exist with missing absolute emission data and lack of third-party verification ⚠️, reducing transparency. Generic statements on environmental commitment occasionally lack supporting evidence. MFCB could improve by providing detailed GHG metrics, accelerating verification processes, and ensuring broader coverage of all operations. Overall, the report provides a solid base but would benefit from enhanced specificity and assurance.

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This is AI model generated summary based on certain rules set by Sustify.world perspective. If the reader finds the information is incorrect, they can always approach us by sending email admin@sustify.world.

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