Geo Energy 43 for security personnel from third-party organisations, namely the Babinsa, or the Indonesian National Army at the Subdistrict Level. As we move forward, we strive to further enhance the integration of human rights principles across all our operations, prioritising the well-being of our employees and the communities in which we operate. Our initiatives and performance Ensuring fair compensation for all employees The satisfaction and ongoing growth of our employees’ capabilities is another key element behind the success of our business. We prioritise providing equal opportunities for all our fulltime employees to receive professional development and advance in their careers. This includes incentives to improve job satisfaction and retain key talent such as: • Health and dental care; • Disability and invalidity coverage; • Life Insurance (for Singapore office); • Retirement provision (for Indonesia office); and • Parental and maternity leave (for Singapore office). Furthermore, we ensure that our employees are compensated according to their experience and skills. In Indonesia, where the majority of our employees are based, all 322 employees received wages in compliance with the minimum wage regulations. This consisted of 259 male employees (80%) and 63 female employees (20%). In Singapore, employee compensation is not subject to minimum wage rules. All full-time employees at Geo Energy are taken into account for the calculation of compensation metrics. Factors that could have potentially influenced compensation include industry standards, salary benchmarks based on location, job responsibilities, and employees' previous experience. The components of employees' compensation encompass base salary, transport allowance, variable bonus, annual wage supplement (applicable to the Singapore office), Central Provident Fund contribution (applicable to the Singapore office), jamsotek (applicable to the Jakarta office), and tunjangan hari raya (THR) (applicable to the Jakarta office). Ratio of basic salary and remuneration of women to men can be found in Appendix - Sustainability Performance section. As the employees at Geo Energy are not unionised, none of them are covered by collective bargaining agreements. As of 2023, Geo Energy does not mandate a minimum number of weeks’ notice provided to employees prior to implementation of significant operational changes. In 2023, the Group had a total of 343 permanent employees, comprising of 270 male employees and 73 female employees across Indonesia and Singapore. The Group’s senior management at significant locations of operation (being Indonesia and Singapore), which comprises of the Executive Chairman and CEO, Executive Director, and other key management personnel, are not hired from the local community. In the reporting period, we welcomed 42 new employees to our team, consisting of 32 males and 10 females. Out of these new hires, 2 are based in Singapore, while 40 are based in Indonesia. Additionally, the Group experienced a turnover rate of 5%, which was an improvement compared to previous years. Collective bargaining agreements for 2023 [GRI 2-30] Percentage of total employees covered by collective bargaining agreements 0% For employees not covered by collective bargaining agreements: Whether working conditions/employment terms are based on collective bargaining agreements that cover other employees/from other organisations Not applicable Throughout the reporting period, there was an increase in the total number of employees. This could be due to the acquisition of the TRA mine. Otherwise, the company experienced its normal cycle of recruitment of new employees in both Singapore and Indonesia aimed to replace departing staff and support the expansion of our operations. The majority of our employees are permanent staff members, which ensures a stable workforce. Geo Energy is fully committed to fostering a workplace environment that promotes equality and nondiscrimination. We strive to enhance communication channels between executive and non-executive employees as part of our ongoing efforts to improve our employee performance. 48% 52% 20% 80% Female-to-Male Ratio in Singapore and Indonesia Female-toMale Ratio in Indonesia Female-toMale Ratio in Singapore Male Female Male Female
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