Yinson Annual Report 2019

Guided by R.O.A.D.S, we seek to foster a culture of integrity across Yinson and our supply chain, creating value by conducting our business responsibly and conforming to the highest ethical standards and applicable laws. Our business practices and standards for employee conduct are governed by the Yinson’s Code of Conduct and Business Ethics (“COBE”), which was reviewed and endorsed by the Board in September 2018. The COBE serves as a single guiding document, bringing together the standards and practices previously described separately in the Yinson Code of Conduct and the Yinson Code of Ethics. This new code defines the foundation of our ethical standards and expectations for personal conduct, including references to our other Group-wide policies. We held seven workshops on this new code throughout the year in review, training a total of 100 employees. Yinson continues to display a strong record of compliance to the COBE, with no fines, penalties or settlements imposed during the year in review. Building a company culture that is consistent with the values set out in the COBE requires ongoing efforts to promote understanding of and adherence of it throughout the Group. FYE 2019 marked the introduction of several important policies and procedures to strengthen our corporate governance structure in line with our commitment to ethical business practices. We pride ourselves on our commitment to ethical conduct across all levels of our organisation. Operating our business in accordance with sound corporate governance principles is not only key to our financial success, but also integral to our sustainability strategy. This approach to responsible business practices is grounded in our Core Values, R.O.A.D.S, which collectively form the foundation fromwhich we drive sustainability. MATERIAL ASPECT #1 - CODE OF CONDUCT Anti-bribery and anti-corruption The Group’s Anti-Bribery and Anti- Corruption (“ABAC”) Policy was endorsed in March 2018 by the Board. As part of the introduction and implementation of the policy, we held numerous onsite presentations and targeted online training for ABAC. We conducted 25 ABAC capacity-building workshops which were delivered across our offices worldwide to engage with employees on the policy, building enhanced ABAC awareness and collecting policy feedback. These workshops, which reached 88% of all our employees, built deeper understanding of ABAC concepts across the Group and helped shape minor refinements made to the policy later in the year. We take pride in our Group-wide commitment to ensuring high standards of corporate governance. In January 2019, the ABAC online training module was fully implemented, allowing employees to access the ABAC training presentation and test via a web-based platform. This will ensure that employees across all of Yinson’s geographically diverse operations are able to undertake the ABAC training to enhance their understanding of the policy. Whistleblowing In 2018, our Whistleblowing Policy was enhanced with the inclusion of procedures to further improve ethical business practices and facilitate the disclosure of improper conduct. The policy was approved by the Board in June 2018. This policy is intended to support our workforce in their efforts to adhere to our code of conduct by establishing a channel for employees to report on wrongdoings that are counter to Yinson’s interests, ethical standards and commitments. Money laundering and counter terrorism In order to ensure our compliance with applicable laws and regulations, an Anti-Money Laundering Policy was introduced in 2018 to provide a framework for the reporting of any suspicious transactions or activities within Yinson. By establishing this policy, which will serve to mitigate the risks associated with money laundering and terrorism financing, we hope to demonstrate to stakeholders our commitment to upholding their trust through sound and ethical business. ● External parties Yinson is committed to conducting and maintaining ethical and professional partnerships with business partners, third parties and international commercial representatives, including international agents, sponsors and advisors. Consequently, in 2018 the Board approved two new policies, namely a Policy and Procedure on Dealing with Business Partners and Third Parties and a Policy and Procedure on Dealing with International Commercial Representatives, to govern our professional external engagements. These policies guide how we manage our relationship with external parties from an ABAC perspective, fulfilling due diligence requirements to third parties. The introduction of the policies will help us to maintain our status as a trusted business partner, while protecting our company and employees against the contractual risks associated with operating and holding shared accountability in a high-stakes industry. Sustainability Statement Yinson Holdings Berhad ANNUAL REPORT 2019 46