Yinson Annual Report 2020

2 Yinson Holdings Berhad SECTION 1 OVERVIEW About this report Through this report, Yinson (“the Company” or “the Group”) aims to provide insight into our business model, changes in the external environment, and the arising risks and opportunities. We also detail our strategic response to these material issues and outline the governance structures which support the delivery of our strategic objectives. In reading this report, we hope you will gain a greater understanding of how our business model relies on financial, manufactured, organisational, human, social & relationships and natural capitals as well as how our operations impact them. We also share our financial and non-financial performance and our insights into the future outlook for the Group. The scope of this report includes Yinson and the subsidiaries which we have control over. The report covers the financial reporting period 1 February 2019 to 31 January 2020 (“FYE 2020”). In compiling this report, we have considered the following frameworks and guidelines: • International Integrated Reporting Framework 2013 (“<IR> Framework”) • Bursa Malaysia Securities Berhad (“Bursa Securities”) Main Market Listing Requirements (“MMLR”) Guidelines, Sustainability Reporting Guidelines, Sustainability Reporting Toolkit and Corporate Governance Guide (3 rd edition) • The Malaysian Code on Corporate Governance 2017 (“MCCG”) • Global Reporting Initiative (“GRI”) Standards • International Petroleum Industry Environmental Conservation Association’s Oil and Gas Industry Guidance on Voluntary Sustainability Reporting • Industry best practices where relevant. Materiality The principal of materiality has been applied in assessing and deciding on the disclosures and content of this report. An item is considered material if it could substantively influence the decisions of the Group and its stakeholders, affecting our ability to create value over the short, medium and long term. Assurance PricewaterhouseCoopers PLT (“PwC”), the external auditors, provided an independent opinion on whether the financial statements of the Group and the Company in this report gave a true and fair view of the financial position, financial performance and cash flows for FYE 2020. As required by Paragraph 15.23 of the Bursa Securities MMLR, PwC also reviewed the Statement on Risk Management and Internal Control included in this report. Yinson is pleased to present our Annual Report for the financial year ended 31 January 2020. In this report, we aim to provide a concise and transparent overview of our ability to create sustainable value for our stakeholders.