Yinson Annual Report 2018

WHERE IT ALL BEGAN The year was 1983, and our founder, Lim Han Weng, had just started a humble transport and logistics company in Johor Bahru, Malaysia. Over the next 20 years, Yinson built a strong reputation for on-time delivery and excellent customer service. The little company from down south soon grew into one of the country’s biggest transport companies, operating a fleet of 365 trucks and supplying another 565 trucks to its customers. In 2010, Yinson ventured into the marine transport business to complement its transport and logistic services. Our first acquaintance withmarine vessels was through the 5 tugboats we acquired. That year, Yinson also won a contract for port cargo handling services in Vietnam. EVOLUTION In 2011, Yinson entered the oil and gas industry when it formed a consortium with PetroVietnam Technical Services Corporations (PTSC, a subsidiary of PetroVietnam). The joint venture company was subsequently awarded a contract for the charter of a floating storage and offloading vessel (“FSO”), FSO PTSC Bien Dong. This achievement paved the way of Yinson to win a contract for the charter of a floating production storage and offloading vessel (“FPSO”), the FPSO PTSC Lam Son. In 2014, Yinson completed an acquisition of established Norwegian FPSO company Fred. Olsen Production ASA. We saw this as a great opportunity for future growth, with both companies sharing a commitment to excellence and long-term charter contracts. Through the acquisition, Yinson inherited contracts for a further three FPSO vessels and a mobile offshore production unit (“MOPU”), as well as a strong and experienced team to take the business to new heights. SETTING SAIL FOR FURTHER GROWTH In mid-2016, Yinson completed a divestment exercise to dispose of its non-oil and gas business segments, streamlining the business to become a full-fledged oil and gas company. Today, with our diversified geographical presence and extensive engineering and operational expertise, Yinson has grown to become the 6th largest FPSO company in the global FPSO market. From our first vessel in 2010, Yinson now boasts a fleet of 5 FPSOs and 1 FSO as well as 4 offshore support vessels. Our most newly-minted purpose- built offshore production asset, the FPSO John Agyekum Kufuor, named after Ghana’s former President, achieved first oil inMay 2017. The project is expected to supply power to Ghana for the next 20 years, contributing significantly to alleviating the country’s energy crisis and boosting its economic growth. Today, our geographical presence extends across the world, from West Africa, to Europe and South East Asia. OUR JOURNEY Corporate Overview Stewardship Governance Accountability 5 Yinson Holdings Berhad Annual Report 2018