Notice

CSR

Transformation

South Ocean Holdings realises that transformation is a key imperative for doing business in South Africa. In this regard, South Ocean Holdings sets and regularly reviews its own targets that are aimed at ensuring that it continues to enjoy a favourable reputation in the community with regard to empowerment. Its commitment to transformation is reflected in the racial demographics in its workplace

Broad-based black economic empowerment

The group is committed to meet the objectives of the broad-based black economic empowerment (BBBEE) codes of good practice and is examining its current compliance. The market conditions of 2008 have made it difficult to implement a strategy with regard to BBBEE. In this regard, the group will consider and evaluate its compliance with its strategic targets as the impact of trading conditions is assessed in the 2009 financial year.

Employment equity

The group has an employment equity policy that contains guidelines for the development of previously disadvantaged individuals. Equal opportunities are offered to all prospective employees without discrimination of any nature. These policies are meant to attract, motivate and retain quality staff at all levels.

The employment equity and skills development plans are regularly reviewed by management and are aligned to the strategic training and development goals of the group. The group acknowledges the scarcity of resources in the industry, which has a continuous impact on achievement of its equity targets and objectives.

Human resources

The group’s philosophy is to respect the individual regardless of race, gender or creed and to ensure that all individuals are afforded equal opportunities for employment, development, personal growth and promotion. Appropriate forums are in place to ensure good relationships throughout the organisation and to serve as vehicles for information sharing, consultation and dispute resolution.

Employee development

The group has various initiatives to develop its staff and managers. The most notable development activity is the training at our Alrode facility where employees are engaged in National Qualifications Framework (NQF) level courses funded by the group. There are no less then 89 staff members enrolled for NQF levels two to four and at any stage others are enrolled for diplomas. They complete their certificate courses on an ongoing basis. We will have more than 100 staff members engaged in the ongoing development process in 2009. The group also encourages staff members to enroll for ABET courses, which are funded by the group.

Professional staff members are encouraged to participate in the continuing professional development initiatives organised by the professional bodies they belong to and those which the group recognises for their professional development.

The group always endeavours to promote pioneering leadership, a culture of innovation and shared ownership, risk and reward.

Staff financing scheme

SOEW operates a staff financing scheme that provides loans to staff. The scheme is operated by a finance committee elected by staff which considers requests for loans.

The scheme has continued to play a positive role in the lives of the company employees.

HIV and Aids

HIV and Aids employee awareness is a key aspect in managing its impact now and in the future. This recognition ensures the epidemic has a limited effect on the group and its operations. The group conducts awareness and counselling sessions, which all employees are encouraged to attend.

To date the group has not been affected significantly by HIV and Aids.

Occupational health and safety

The health and safety of employees and the communities the group operates in and their wellbeing are important aspects that are endorsed by the group.

In order to ensure a balanced management approach, the group operates health and safety committees that ensure the group abides by Occupational Health and Safety regulations. The committees consist of senior management, and health and safety representatives selected from the floor.

Meetings are scheduled on a regular basis depending on the working environment and the requirements. The committees report on compliance issues and safety incidents and make recommendations on areas for improvement and the disposal of hazardous material. Appointment of safety representatives, first aiders and overseeing safe operation of the equipment are among its functions.

The group is ISO 9001:2000 certified, which ensures that the working environment is healthy and safe.

Environmental impact

The group is aware of its responsibility to manage the impact it has on the natural environment. It is subject to various controls in terms of legislation and its quality systems, including the Occupational Health and Safety Act and ISO 9001:2000. The health and safety committees are responsible for the disposal of all hazardous materials. Third party compliance audits are undertaken of the management of lubricants, sound and air pollution and related environmental issues.

Corporate Social Investment

The group views corporate social investment (CSI) as vital for empowering previously disadvantaged individuals and uplifting communities. During the year, both Radiant and SOEW undertook community projects aligned to their businesses and serving communities close to where they operate.

Eden Park Primary School

SOEW has identified a number of schools in need, particularly in communities from which its staff are drawn. The company provided materials such as bricks, concrete slabs, windows and door frames as well as paving bricks to upgrade and maintain the facilities of a school in Eden Park. The company also provided the transport for the delivery of these materials. In future, SOEW will continue with this project and will supply and fit lights, cables and plugs as well as repair damaged electrical appliances.

Itlhokomeleng Association for Aged & Disabled Persons

Radiant continues to maintain all light fittings and lamps at the home and conducts regular check-ups to ensure residents of the home continue to benefit from improved lighting and heating.

Visi Charity Project

Radiant donated fittings to the Visi Charity Project in June 2010. The Visi Charity Project was involved with the upgrade of a hospital facility in the Western Cape area.

Pink Lunch charity event

In August 2010 Radiant donated light fittings to be auctioned off at the “Pink Lunch” charity event which was in aid of Reach for Recovery for Breast Cancer Awareness.

St Luke’s Hospice

Radiant supported St Luke’s Hospice online auction in August 2010 by donating light fittings for an auction which was held in aid of raising funds for terminally ill patients.

Thuthuzela Aid Community Centre

Radiant assisted Thuthuzela Aid Community Centre (TACC) in Alexandra by donating light fittings to upgrade the facility as well as sponsoring a Christmas party for the children.

Lighting was improved where required and exterior lighting was installed to improve security. Broken fittings and wiring was fixed inside the building where necessary. The upgrade to the lighting increased the functionality of the building and made it a brighter place to live.

Ongoing utility costs were taken into consideration by using energy efficient exterior metal halide and compact fluorescent (CFL) floodlights, to ensure the orphanage’s electricity bill remains low.

Radiant also purchased stationery for the crèche and presents for the permanent residents that were handed out before Christmas. It also held a party for the children.

Financials

Developments

South Ocean Holdings is committed to the electrical and accessories market, which is critical to the long-term development of South Africa. Our faith in the potential of the market to support efficient operators like SOEW and Radiant is undiminished.

CSR

The board of South Ocean Holdings is committed to corporate citizenship and strives to follow best practice in ensuring the group has a positive impact on the South African economy, its employees and the communities in which it operates.