Yinson Annual Report 2018

PROVEN TECHNICAL AND OPERATIONAL CAPABILITY Our technical team brings with them over 23 years of experience in FPSO/FSO solutions for clients, which came with the acquisition of our Oslo based subsidiaries in 2014. These strengths have been further bolstered by FPSO JAK being completed under budget and ahead of schedule, as well as by securing a record time-to-market first oil production three months ahead of schedule on a fast track project. In the area of vessel operations andmaintenance, we extended our excellent track record of maintaining near 100% uptime for our FPSOs and FSOs, complemented by our technical expertise and dedicated technical personnel. The capability to maintain impressive vessel uptime has earned us positive recognition on reliability, operational efficiency and added value for our clients. We remain committed to keep abreast with the industry’s highest standards of operations with respect to Health, Safety and Environment Protection (“HSE”) by emphasising the safety and security of our people and the environment, which is paramount in how we carry out our business. Our objective is to build healthy and safe workplaces for our people to carry out their work and this is achieved through rigorous ISO certification, staff training and governing processes. Our commitment to HSE is evidenced by the execution of our biggest ever vessel, FPSO JAK, where the team clocked a total of 17 million man-hours with zero-LTI. This record is extended to our on-going operations and we endeavour to uphold this excellent track records as we expand our business presence. As a Group with operations largely in developing countries, our social responsibility stretches far beyond our people and also looks at how we can minimise our environmental footprint in order to achieve zero harm to the environment in the course of our operations, while cascading the technical knowledge of our industry to the locals for our mutual sustainability and prosperity. We will also continue to invest in education in the countries in which we operate to develop more human capital capacity for the industry as well as for us to employ. GROWING THE BUSINESS FPSOs are critical infrastructure for the offshore oil and gas production industry and there are still growth opportunities with demand for such infrastructure particularly for gas FPSOs in regions with energy shortage. To diversify our business geographically in proven markets we continue to pursue strong prospects and explore opportunities in the American region, particularly in Brazil and Mexico. We see growing opportunities in the industry of late with the upward trend of oil prices. The Group will remain focused on our core business as a FPSO/FSO service provider and will be looking for industry opportunities where we and our strategic alliances possess the relevant expertise and experience to venture into. But in doing so, we will not compromise on Yinson’s established and proven contracting model. It is a period to fortify and promote our experience and solutions in FPSO/FSO in uncharted regions that will help the Group to expand our business and concurrently achieve diversity in its business concentration. As well as continuing to adhere to the regulatory rules where our existing businesses are present, we have also begun to study the regulatory requirements of potential new markets which we foresee as good prospects. In the quest for new FPSO/FSO market penetration, leveraging our monumental collaboration with the Japanese consortium is something that will certainly be included as we explore new opportunities. Corporate Overview Stewardship Governance Accountability 47 Yinson Holdings Berhad Annual Report 2018