Yinson Annual Report 2020

138 Yinson Holdings Berhad SECTION 5 STRATEGIC REVIEW Average fleet uptime since 2014 for vessels that Yinson operates FPSO Adoon 100% FPSO Allan 99.6% FPSO JAK 99.8% FPSO Marc Lorenceau 100% Average fleet uptime since 2014 99.8% In terms of safety, Yinson’s Offshore Production Division maintained a solid performance this financial year, with an LTI frequency of 0.71 and TRI frequency of 1.42. Whenever a safety incident occurs on our vessels, thorough investigations are carried out to define the root cause and develop and implement lessons learnt to reduce the risk of similar incidents happening again. further explained in our expanded disclosure on environmental impacts from both our offices and our offshore operating units. Group-wide improvement strategies In recent years, Yinson has focused on digitalisation as a strategy to improve business performance and form new, differentiating business capabilities. As an example, our ERP system was upgraded during the financial year, allowing synchronised, real-time accounting data across all our offices. Our projects and operations teams have also harnessed digitalisation tools to enhance the quality, integrity and efficiency of their workflows – for example through the digitalisation of our supply chain management process, enhancing offshore communication system and strengthening of our document control system. In FYE 2020, we Management Discussion & Analysis Operations (pg 67) Health and safety (pg 95) Natural Capital (pg 120) A significant portion of Yinson’s environmental impact in terms of energy, pollution, water, waste and materials are attributed to our offshore operations, due in part to the nature of our operations as well as the long-term nature of our contracts. As a responsible global citizen, we aim to manage our environmental impacts well. This is Offshore Marine Division FYE 2020 went smoothly for our Offshore Marine Division, with a fleet utilisation rate of 92.69% over the financial year. We continued a strong safety performance with zero LTIs and TRIs in FYE 2020, earning acknowledgement from our client, Repsol through the receipt of the ‘Best HSE Performance 2019’ and ‘Marine Vessel Safety and Operation Excellence Award’. Operations (pg 67) Health and safety (pg 95)