Yinson Annual Report 2019

Below is an overview of Yinson’s achievements during the year under review towards achieving our short, medium and long term goals. YINSON’S GOALS PROGRESS TOWARDS ACHIEVEMENT OF GOALS Short term goals Deliver FPSO solutions for the contracts that we have won this year on time and on budget. Maintain and build excellence in operations. • Conversion and O&M of FPSOHelang is underway, and on schedule for delivery in Q4 2019. • Conversion and O&M of FPSOAllan (to be renamed FPSOAbigail-Joseph) expected for delivery in 2020. • Continue building on company values. • Maintain excellent uptime and availability. • Continue the journey for our safety culture project across all vessels and offices. Medium term goals Strive to deliver more projects in the FPSO segment, particularly in our current geographical areas to enhance economies of scale via cost reduction. The Group will also be on the lookout for good assets that are able to complement our current and future business segments. • Operations base in Miri established for FPSOHelang, receiving support from the Kuala Lumpur and Singapore offices. • Yinson’s operations base in Nigeria is undergoing expansion to take on the operations of FPSOAllan (to be renamed FPSOAbigail-Joseph). The office currently manages the operations of FPSOAdoon. • Expanding FPSO supplies to Brazil while continuing to capitalise business presence in Africa region. Long term goals Continue to assess opportunities to expand and diversify into other forms of energy infrastructure assets to broaden our revenue base. • Diversifying our business is part of the Group’s long term plan to transform into an energy infrastructure player, where renewables will complement our existing floating production and offshore marine segments. Management Discussion and Analysis Yinson Holdings Berhad ANNUAL REPORT 2019 40