Yinson Annual Report 2018

Stewardship STRENGTHENING THE GROUP FOR THE FUTURE The Group will continue to focus on our core competency of FPSO project management and leasing, and we now believe Yinson has the proven foundation to take on any FPSO opportunities globally. Yinson will also be leveraging our global partnerships to springboard the company to the next phase of growth. The Group has already seen tremendous success in Vietnam through our partnership with PetroVietnam Technical Services Corporation. Throughout FYE2018 we continued to build our franchise value via our partnership with a consortium of Japanese companies and timely delivery of FPSO JAK. Today the Group has strategic partners in many areas – financial, equipment and even clients – and we will continue to build the Group’s franchise value with strong essential partners that are relevant to our business. The target for FYE2019 is to anchor the capabilities of the Group further so that we can remain calm amidst the waves of uncertainty that are common in our industry. To do this, we must ensure the sustainability, efficiency and productivity of the business and remain shipshape by driving change and enhancement from within, which we do by continuously and systematically tweaking our internal control system, improving our approach and culture towards safety while nurturing our people to bring out the best in them. Despite the vagaries of the O&G market, we are confident that there are always opportunities to be tapped and improvements to be made in every aspect of what we do and offer, in order to catch the waves of opportunity and surge ahead of competition. Meanwhile, we have seen success in our efforts to strengthen the unity of our workforce by developing and inculcating a set of shared values between the organisation and our people. Employee turnover rate has been low while there is continued growth in our human capital. Re-establishing and reinforcing our shared values has allowed us to be aligned in the common goals set by the Group and we are constantly working towards achieving the objectives. Ultimately, we are on a progressive journey to create a “Yinson Culture” where our vision is for these shared values to be deeply entrenched in the organisation so that our people can identify with them regardless of where they are or where our operations will take them. A key objective of Yinson is to entrench an efficient structure that promotes people empowerment, thus allowing them to be resourceful in dealing with matters and increasing collaborations with business partners. In addition to upholding and preserving corporate governance, we are also embarking on new initiatives to strengthen and enhance our Enterprise Risk Management, Anti-Bribery & Corruption, Whistleblowing and Internal Audit processes while promoting efficiency via enhanced application of information technology; which we will continue to emphasise on throughout FYE2019. We continue to focus on the importance of transparency and disclosures which is always a continuous and progressive journey of improvement. and Analysis (Cont’d) 48 Yinson Holdings Berhad Annual Report 2018