Yinson Annual Report 2020

WHAT’S INSIDE About our theme, Geared for Growth FYE 2020 started with great promise, as new opportunities emerged in the FPSO industry and the oil and gas market performed steadily. ‘Geared for growth’ is a reflection of the investments and effort Yinson put into building our execution, financial and operational capacity in line with this growth. In this report, we share how we have invested into this growth for greater stakeholder value, and how this has positioned us to be resilient for the challenges ahead. 6 Chairman’s Statement 10 Vision, Mission and Core Values 11 About Yinson 12 Our business 13 Corporate information 14 Our global presence 16 Key assets 22 Key events 30 Group strategy 32 Group financial highlights 33 Yinson’s Covid-19 response 1 OVERVIEW 2 EXTERNAL ENVIRONMENT 3 SUSTAINABILITY STATEMENT About this report 4 48 How Yinson generates value 50 Financial Capital 63 Manufactured Capital 69 Organisational Capital 84 Human Capital 102 Social & Relationships Capital 120 Natural Capital OUR CAPITALS 128 Management Discussion & Analysis 5 strategic review 144 Board of Directors 149 Key Management 153 Corporate Governance Overview Statement 169 Statement on Risk Management and Internal Control 175 Report on Audit Committee 179 Statement of Directors’ Responsibility 6 GOVERNANCE & LEADERSHIP 182 Directors’ Report 191 Financial Statements 326 Independent Auditors’ Report 333 GRI Content Index 339 Analysis of shareholdings 343 List of properties 7 Accountability Scan to learn more about Yinson www.yinson.com 346 Notice of Annual General Meeting 353 Administrative details Form of Proxy 8 ANNUAL GENERAL MEETING List of abbreviations