Yinson Annual Report 2020

74 MANUFACTURED FINANCIAL NATURAL SOCIAL & RELATIONSHIPS HUMAN ORGANISATIONAL Yinson Holdings Berhad SECTION 4 OUR CAPITALS Internal departmental structure improvements In FYE 2020, Yinson brought a new Group HR Director into our Management team to improve the approach and integration of HR functions across the Group. The role of our new Group HR Director is also to spearhead the implementation and achievement of the goals set out in this Capital. In December 2019, Yinson’s Board approved an update of our Limits of Authority document in line with the growing size and complexity of our projects. Changes were made to streamline current operations, and reinforced through regular trainings. Our internal audit scope was expanded to align with this document. This update further ensures consistent, good business practice and CG across all divisions of the Group, alignment of objectives and increased safeguarding of company assets. We also aligned our human resources with the growing needs of our business to continually innovate and improve. New departments that have been established during the year in review include the Management Accounting, ALM, and Project Quality Departments. Mobilise existing experts to new territories to encourage transfer of knowledge Maintain our Global, Projects and Operations Headquarters as Centres of Excellence Build up local capabilities to support the communities we are in Mobilise existing staff to new locations to increase and encourage adoption of corporate culture Cross continent integration Business Systems and Processes GOALS SET FOR FYE 2020 PROGRESS GOALS SET FOR FYE 2021 Establish ALM Department, strategy and structure Successfully established in December 2019 • Optimise existing systems for ALM processes • Further establish ALM functions Enhancement of Group’s Enterprise Resource Planning (“ERP”) system • Migration of 51 out of 57 reporting sites completed • Upgraded to latest version of ERP system • Explored and optimised usage of ERP system functionalities across the Group • Complete ERP system upgrade and migration of reporting sites • Automation of data input via Artificial Intelligence (“AI”) capabilities • Improve connectivity between offices, information accessibility, digital filing and access control