DIRECTORS’ REPORT KEY RELATIONSHIPS WITH STAKEHOLDERS The Group cares for the interests of its employees, customers and suppliers while pursuing its business growth strategies in a sustainable manner. The Group had 639 employees spanning eight locations, namely the PRC, Japan, South Korea, Singapore, Hong Kong, Australia, India and Indonesia, as at 31 December 2021. The Group provided competitive remuneration package to its employees and encouraged training programs to improve their knowledge and skills, and promoted cross-market and cross-cultural cooperation to nurture their sense of belonging to the Group. The Group’s customers are composed of tenants that require logistics and distribution facilities, funds and investment vehicles. The Group’s leading market positions enable it to provide its tenants with seamless regional solutions, and connecting its capital partners with a single interface to assess investment opportunities in the region. The Group’s suppliers primarily consist of construction contractors, property management companies, interior designers and commercial real estate brokers. The Group maintained close collaboration with its suppliers in delivering exceptional quality of facilities and services to its customers. In formulating and implementing its environmental, social and governance strategies, the Group engaged the stakeholders through various communication channels and activities. Further details are available in the “ESG Performance” on pages 26 to 35 of this annual report. MAJOR CUSTOMERS AND SUPPLIERS During the financial year ended 31 December 2021, the five largest customers of the Group accounted for less than 30% of the Group’s total revenue from sale of goods or rendering of services. During the financial year ended 31 December 2021, the largest supplier and the five largest suppliers accounted for 11% and 33%, respectively of the Group’s total purchases. None of the directors, their associates nor any shareholders (which to the knowledge of the directors own more than 5% of the number of issued shares of the Company) had any interests in any of the five largest suppliers of the Group. DISTRIBUTABLE RESERVES Details of the movement in the reserves of the Company during the year ended 31 December 2021 are set out in note 42 to the Consolidated Financial Statements of this annual report. As at 31 December 2021, the reserves available for distribution to Shareholders by the Company amounted to US$1,438,916,000 (2020: US$1,692,227,000). E S R C A Y M A N L I M I T E D A N N U A L R E P O R T 2 0 2 1 95
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